Our blog keeps you updated about debt issues Houston residents are facing on a regular basis. We try to keep our content casual, easy-to-understand and relevant to your life. Read the latest postings on Texas student debt and easing credit card debt.
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Mortgage companies beware: sending bills on bankrupt loans can be violation If a mortgage servicer sends a monthly mortgage statement to a Houston debtor that has been discharged in bankruptcy, it may be a violation of the bankruptcy discharge -
Judgment liens against your Texas home can be avoided or cancelled in bankruptcy If you have been sued and have a judgment against you, the judgment lien against your Texas homestead can be canceled if you file bankruptcy -
IRS taxes can be discharged with filing of "substitute" tax returns if taxpayer helped, rules Houston bankruptcy court To satisfy technical 26 USC Sec. 6020(a) requirements, taxpayer must cooperate with I.R.S, provide information for tax return -
Former multimillionaire bankrupts $15 Million in IRS taxes; no "specific intent" to evade them says court 9th Circuit case of Hawkins v. FTB says that proof of overspending alone, does not mean a debtor in bankruptcy cannot discharge IRS taxes -
Houston bankruptcy court removes about 100 Collie dogs from bankrupt owner U.S. Bankruptcy Court sitting in Houston removes about 100 Collie dogs from owner, many of which were in "deplorable" condition -
Texan sells home during chapter 7 using Texas exemptions, may lose equity if don't buy new homestead Cage v. Smith case decided by Judge Jeff Bohm on August 5, 2014 found that a chapter 7 debtor's case must be closed, before he or she can sell house and use proceeds for anything other than another homestead -
I.R.S. does something good! Get IRS transcripts quickly online. If you need records including tax return transcripts, transcripts of account, or wage and income transcripts from the Internal Revenue Service, look online -
Supreme Court says inherited IRA's have to go to creditors in bankruptcy cases Inherited IRA's can be claimed as exempt if you are a Texas under state law, but if you file bankruptcy and claim federal exemptions, inherited IRA's must go to creditors -
Houston bankruptcy court: 3 Parcel rural homestead all exempt In Texas, a single person can have 100 acres plus improvements exempt in rural area, 200 acres plus all improvements for family; can be in more than one piece -
Non-debtor spouse can lose homestead in Texas bankruptcy A spouse that does not file bankruptcy can lose their interest in a homestead, at least if it exceeds the limits -
Law v Siegel: SCOTUS says no exemption surcharges as sanctions-Right? Law v Siegel, Chapter 7 Trustee says a bankruptcy court cannot punish fraud by surcharging a debtor's exemptions -
Medical debt can be discharged in bankruptcy just like any other debt. Medical and hospital bills in Texas can be discharged in bankruptcy just like any other debt. But a particular doctor could refuse to treat you without payment. -
Take Your Ex's Share of Property, May Not Discharge Debt, Says 5th Cir Taking marital property awarded to ex-spouse in divorce may not be discharged in chapter 7 bankruptcy, says 5th Cir Court of Appeals- willful & malicious injury -
Attorney General: Same sex married couples may file bankruptcy jointly U.S. Attorney General Eric Holder announced today that married couples in Houston and across the land, are eligible to file bankruptcy jointly -
New IRS Pre-Qualifier Tool Gives Offer in Compromise estimated amount If you or another taxpayer wants to settle with the IRS for delinquent income or payroll taxes in Houston, Texas, try new offer in compromise pre-qualifier tool -
Paying down Texas home mortgage before bankruptcy risky, could lose If you are in debt or financial trouble and facing bankruptcy, paying down your Texas home mortgage can be a big mistake; 11 U.S.C. Section 522(o) -
Student Loans Should Not Be Considered "Consumer Debts" for Means Test Student loans are for profit motive, so should be considered non-consumer debt, says Houston bankruptcy court -
Houston, Texas Bankruptcy Court: Gambling Debts Valid, But Discharged Gambling debts are valid debts in Texas, but not incurred through fraud -
Suze Orman: Filing bankruptcy better than sticking your head in sand Suze Orman says bankruptcy better than sticking your head in sand -
You Can Ask for IRS to Withdraw A Notice of Tax Lien Against You IRS withdrawing notice of tax lien