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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HAVEN Act of 2019 will help Texas veterans qualify for bankruptcy by exempting certain VA disability and survivor benefits from bankruptcy means test HAVEN Act of 2019 will help Texas veterans qualify for bankruptcy -
Texans can sell their home after filing bankruptcy and keep the money safe from their creditors, so long as they claimed home as exempt and no objections. Matter of Deberry, 5th Circuit 2018 Texans can sell their home after filing bankruptcy and keep the money safe from their creditors, so long as they claimed home as exempt and no objections -
So-called "national" bankruptcy legal firm Upright Law sanctioned by Virginia U.S. Bankruptcy Court Law Solutions Chicago or Upright Law, punished by U.S. Bankruptcy Court in Western District of Virginia for unscrupulous practices -
Houston bankruptcy court holds that individual owner of business must pay court sanctions, even after bankruptcy Harris County, Texas post-judgment court sanctions held not discharged in Houston bankruptcy case by U.S. Bankruptcy Judge Marvin Isgur -
If you file bankruptcy and claim your IRA as exempt under Texas law, don't cash it in until your lawyer says it is safe to do so! In re Hawk, 5th Cir. 2017 Filing bankruptcy and claim your IRA as exempt under Texas law? Don't cash it in until your lawyer says it is safe to do so! In re Hawk, 5th Cir. 2017 -
If you need to file bankruptcy, waiting to file can be a bad idea for many reasons Many people delay filing a bankruptcy, and it can backfire on them. If you need to file a Houston, Texas bankruptcy, waiting to file can be a really bad idea. -
Military reenlistment bonuses are not dischargeable in bankruptcy for five years after the ter of the contract or the term of service ends. Military reenlistment bonuses are not dischargeable in bankruptcy for five years after the contract or service ends. -
IRA's claimed as exempt in bankruptcy under Texas law become non-exempt if distributed and not rolled over within 60 days during bankruptcy Houston, Texas U.S. District Court affirms In re Hawk case; IRA's claimed as exempt in bankruptcy under Texas law, become non-exempt if distributed and not rolled over during bankruptcy -
Fifth Circuit Court of Appeals says Section 707(a) of the Bankruptcy Code allows for dismissal of bankruptcy cases for bad faith, even if bad conduct arguably encompassed by other remedial statutes 5th Circuit Court: Debtor's bad faith before and after bankruptcy requires dismissal per 11 USC 707(a). Texas bankruptcy. -
Cashing out an I.R.A. and hiding the money from creditors in a business account can lead to denial of discharge, says Houston bankruptcy judge Even transferring exempt property like an I.R.A. before bankruptcy can cause you to lose your bankruptcy discharge, if you do it with fraudulent intent -
Houston Bankruptcy Judge finds fraudulent intent, revokes chapter 7 discharge of Houston real estate agent Bankruptcy courts have the power to revoke a discharge in bankruptcy for one year after it is granted, under Section 727(d) of the Bankruptcy Code -
Houston Bankruptcy Court rules that IRA claimed exempt under Texas law and distributed during bankruptcy can be seized if not rolled over within 60 days Houston Chief Bankruptcy Judge Bohm ruled in In re Hawks case that IRS money distributed during bankruptcy and claimed exempt under Texas law, must be rolled over or risk losing it to bankruptcy trustee -
Mortgage companies look out- if you send a monthly bill to someone that has had the mortgage loan discharged in bankruptcy, you may violate discharge injunction 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 -
You can get rid of a judgment against your Texas homestead if you file 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 -
Houston bankruptcy judge orders removal of 100 Collie dogs from bankrupt owner, turned over to rescue organization for care U.S. Bankruptcy Court sitting in Houston removes about 100 Collie dogs from owner, many of which were in "deplorable" condition -
Chapter 7 debtor's case must be closed, before he or she can sell their Texas homestead and use the proceeds for anything other than another homestead, says Chief Houston Bankruptcy Judge Jeff Bohm 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 -
U.S. Supreme Court: inherited IRA's go to creditors in bankruptcy, if federal exemptions are claimed 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: Rural homesteads in Texas can be really big - 100 acres for single person, 200 acres for family, plus all improvements - and can be in more than one parcel of land 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