A quick search of the internet will show that loan modification programs have been generally unsuccessful. In my practice as a bankruptcy attorney, I encounter debtors every day who are trying to save their home through a loan modification. After months of submitting and resubmitting documents, jumping through one hoop after another, they are usually […]
VOLUNTARY DISMISSAL OF CHAPTER 13 BANKRUPTCY CASES
The Bankruptcy Code allows debtors in Chapter 13 cases to voluntarily dismiss their bankruptcy case at any time. The ability to dismiss a case can be useful in many different situations. For example, when plan payments are higher than anticipated when the case is filed, debtors may wish to have their case dismissed. It is […]
WAITING TO FILE CHAPTER 13 BANKRUPTCY COULD COST YOU!
Most of the time, when a client comes into my office to talk about filing bankruptcy, they have urgency to file. We can usually point to a single event that has caused them to seek out legal advice. Perhaps they received notice of a foreclosure sale, their car has been repossessed, or creditors are hounding […]
WHAT DEBTS CANNOT BE DISCHARGED IN BANKRUPTCY?
There are three common types of debts that cannot be discharged in bankruptcy. The first type of nondischargable debt is income tax liability. The general rule is that if you incurred income tax liability within the last three tax years, the debt will not be discharged in bankruptcy. The second type of nondischargeable debt is […]
What exactly is Chapter 13 Bankruptcy?
As Dallas Bankruptcy Attorneys many individuals ask us, what exactly is Chapter 13 Bankruptcy? Chapter 13 is really a proceeding within the Federal Bankruptcy laws where a person turns his debts, in concert with a plan for repaying them, over to the Bankruptcy Court. The debtor (you) will make regular installment payments to a person […]