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7 Shocking (and Costly!) Facts About Consumer Credit Counseling

10/03/11

(NOTE: This information refers to credit counseling other than what is required for bankruptcy pre-filing credit counseling. Talk to the Fonfrias Law Group for approved agencies.) SHOCKING FACT #1: Credit counselors work for your creditors, not for you. A former Assistant Attorney General for the state of Texas said this about Consumer Credit Counseling Services: [...]

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Can I Sign My Spouse’s Name To The Paperwork?

10/02/11

Absolutely not.  You cannot sign your spouse’s signature, and you should not sign your spouse’s signature on anything.  This goes beyond bankruptcy law.  This is just common sense.  The documents that are prepared are prepared for both you and your spouse.  Both you and your spouse must read and understand the documents and know what [...]

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Can I Keep A Credit Card If I File For Bankruptcy?

10/02/11

The general answer is no.  You have to list all the people that you owe money to, including every single one of your credit card issuers.  Even credit card issuers who are not owed a debt are going to find out about your bankruptcy filing.  Those creditors subscribe to a service which notifies them of [...]

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Can I Go To Jail For Not Paying My Bills?

10/02/11

There is no debtor’s prison in the United States.  You are not going to go to jail for not paying your bills, unless those bills were incurred by a serious crime, fraud, embezzlement, something of that nature.  However, you can go to jail if you do not appear at numerous court proceedings when a creditor [...]

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The “341 Hearing” – What Should I expect?

10/02/11

The creditors’ meeting, otherwise known as 341 meeting, is a procedural step in every Chapter 7 and Chapter 13 bankruptcy. In a typical 341 meeting, the debtor will be asked questions under oath by the bankruptcy trustee with respect to his or her financial affairs. Most debtors are apprehensive of the 341 meeting. While 341 [...]

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Is Bankruptcy Right For You?

09/30/11

I see many clients each day as a Dallas bankruptcy attorney and I advise all of them to ask themselves one question: Is bankruptcy right for me? Of course many people do not know the answer to that question upon walking in, but it is my hope that they can all confidently answer that question [...]

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Des Plaines Bankruptcy Law Advice: Can I borrow money before I file bankruptcy?

09/28/11

I as a bankruptcy attorney cannot under the law advise you to borrow money, to take out a loan, to acquire any property on credit.  I am obligated to follow the bankruptcy code and am I prohibited from advising a client to take out credit or obtain a loan prior to filing bankruptcy.  You as [...]

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Solyndra scandal haunts Obama, Bankruptcy case shows the poor deal the federal government made

09/28/11

Conspicuously absent from the bankruptcy filing is mention of the $500 million dollar loan that the federal government made.  The only thing filed is a notice of appearance.  Two class actions were filed under the WARN Act (Worker Adjustment and Retraining Act) which requires 60 days notice of layoffs which apparently was not complied with [...]

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Debt Relief: It Doesn’t Have To Cost You

09/28/11

As a bankruptcy attorney in Dallas, Tx I am asked by many clients if bankruptcy is their only option. My answer is always “No”. One of the biggest problems in the bankruptcy industry is people not advising their clients on all of their options. Educated consumers are smart consumers, and smart consumers make smart decisions. [...]

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Not disclosing and transfer of assets led to denial of discharge

09/27/11

Nothing new we learned from a recent court decision (In re Dandrum, Bankr. D.ND. August 19, 2011): The debtor has to take his duty to disclose transfers before filing and to list income and assets accurately seriously or risk denial of discharge (and even more severe consequences). Debtor failed to disclose assets and transfers on [...]

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