It never hurts to learn about the laws behind debt-related issues and how they affect you. We write our articles keeping your most important questions in mind and hope you will find their content useful in your quest for financial independence. Read about Chapter 13 bankruptcy and credit card debt relief in Texas here.
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August 2017 Newsletter - You don’t have to carry a balance to have a great credit score! You don’t have to carry a balance to have a great credit score! Houston, Texas -
5th Circuit holds that under Texas law, IRA cashed in during bankrupty loses its exemption if not rolled over into another IRA within 60 days. In re Hawk, 5th Cir. 2017. In re Hawk, 5th Cir. 2017. IRA cashed in during Texas bankrupty loses its exemption if not rolled over into another IRA within 60 days. -
Bankruptcy Code limits filing spouse to $160,375 in equity in Texas homestead of filed within 1215 days of acquiring it, says 5th Circuit Court of Appeals. Motion for en banc reconsideration filed. Matter of Wiggains, 5th Cir. 2017. Matter of Wiggains, 5th Circuit 2017. Filing bankruptcy by one spouse brings all community property into estate. Bankruptcy Code 522(p) limits the filing spouse to $160,375 in equity in Texas homestead if file bankruptcy within 1215 days of acquiring it. -
In a chapter 13 bankruptrcy, notices of post-petition fees, charges or expenses under Bankruptcy Rule 3002.1 must be filed wthin 180 days of when the legal obigation to pay the debt arises, not when the debt is invoiced. In re Raygoza, US Bankruptcy Court, SD Texas 2016. Under Bankruptcy Rule 3002.1, notice of post-petition fees, charges or expenses must be filed wthin 180 days of when the legal obigation to pay the debt arises. -
Galaz v Katona, 5th Cir. 2016 Galaz’s suit in state court is arguably a violation of Katona’s discharge rights, directly implicating the bankruptcy court’s “arising under” jurisdiction. Galaz v Katona The court concluded that Galaz’s suit in state court is arguably a violation of Katona’s discharge rights, directly implicating the bankruptcy court’s “arising under” jurisdiction; the bankruptcy court’s interpretation of the 2011 Settlement Agreement is determinative of Katona’s claim, and the bankruptcy court’s order was within its statutory authority; the bankruptcy court did not abuse its discretion in refusing to abstain because the proceeding at issue is “core” under 28 U.S.C. 157(b); Galaz’s claims are barred by res judicata, compromise and settlement, and accord and satisfaction/ -
5th Circuit holds that defendant not liable because of existence of affirmative defense to Texas Construction Trust Fund Act. Monaco v TAG Investments Ltd, 5th Cir. 2016 Texas Construction Trust Fund Act ("CTFA") Texas Property Code Sec. 162.001; Monaco v TAG Investments Ltd, 5th Cir. 2016 -
5th Circuit holds that all payments to creditors are "under the plan" for chapter 13 discharge purposes. In re Kessler, 5th Cir. 2016 In re Kessler (5th Cir. 2016) Fifth Circuit Court of Appeals held that even direct payments by debtors are "under" the chapter 13 plan. No discharge if all payments not completed as required by plan.