5 Things Bankruptcy Can Stop

1.  Foreclosure In May 2012 hundreds of homeowners stand to lose their homes to foreclosure in Dallas County.  Bankruptcy can stop that foreclosure the moment the voluntary petition is filed.  A Chapter 13 bankruptcy can stop the foreclosure process for up to five...

Chapter 7 Overview

In 2011 there were nearly one million applications for bankruptcy protection.  Yet the notion persists that bankruptcy is an embarrassing process that will ruin any opportunity for financial well-being. Chapter 7 is sometimes called “liquidation”, although that...

Bankruptcy Proofs of Claim

A lesson from the foreclosure crisis is that a moneylender may be lying when it says it owns a debt.  That lesson has been applied to bankruptcy proofs of claim. A proof of claim is a document that a moneylender files in a Chapter 7 or Chapter 13 bankruptcy.  A form...

Bankruptcy and Rental Property

If you are like most landlords you are very careful about the tenants you choose to put in your property.  But, as we can all testify, even good people sometimes have financial problems.  How will your tenant’s consumer bankruptcy affect you? If your tenant owes back...

Is Bankruptcy Ethical?

For many people bankruptcy creates a moral dilemma.  Many of us are taught to always repay our debts.  Sometimes, bankruptcy lawyers dance around this issue by pointing out that hundreds of thousands of people file bankruptcy each year, including people like Walt...