Chapter 7 Bankruptcy

A Lesson in Tenacity From Walt Disney and Steve Jobs

10/24/11

While many associate the word “bankruptcy” with “epic failure”, history shows us that through the adversity of life one must use knowledge and tenacity to turn “epic failure” into, just, “epic”. In 1923, Walt Disney’s creditors forced bankruptcy upon him and assumed his assets to settle his debts. Likewise, after many ups and downs, including [...]

[more]

Why Filing for Bankruptcy is a Better Choice than Credit Counseling

10/20/11

Is Credit Counseling a Step in the Right Direction? Credit counseling most often involves consolidating outstanding debts as much as possible and then developing a negotiated repayment plan for a reduced payment over time to all of your creditors. Credit counseling is often a first step taken by those who have significant debt due to [...]

[more]

Controversy erupts over Harrisburg, Pennsylvania Chapter 9 Bankruptcy Filing

10/15/11

Although the politics has been going on for a while, and rescue bills were considered, Harrisburg, Pennsylvania went ahead and filed Chapter 9 Bankruptcy.  The State of Pennsylvania has not only objected to the eligibility of the City of Harrisburg, the legislature is working on a bill that would strip the city of its ability [...]

[more]

Discharging Debts In Bankruptcy

10/12/11

As a Fort Worth bankruptcy attorney I have found that many of my clients have misconceptions about which types of debts can be discharged in bankruptcy. I feel every consumer should be educated about which types of debts can be discharged before deciding to file for bankruptcy. Secured vs. Unsecured Debts I have found that [...]

[more]

Why Nevada Bankruptcy Attorneys Ushering Clients Towards Chapter 13 only?

10/09/11

A disturbing pattern has seen by our law office where we had repetitively met clients who were only told about Chapter 13, and never was informed about their qualification under a Chapter 7 liquidation. They client’s income was seen and was told by a paralegal that they do not meet income qualifications and only capable [...]

[more]

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 [...]

[more]