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May 2015 Archives

Converting to Chapter 7 bankruptcy from Chpater 13

Some Texas residents may know that the United States Supreme Court ruled in May that funds that were not distributed to creditors while a debtor was in Chapter 13 bankruptcy must be returned to the debtor by the trustee if the bankruptcy is converted to Chapter 7. This ruling clarifies what has become a difference of opinion among bankruptcy courts.

Texas student loan borrowers may be scam victims

The attorney general of Illinois has sued five companies that it claims broke state law when it demanded upfront fees in exchange for assistance with student loan repayment problems. The companies named in the lawsuit reportedly asked for as much as $1,250 to provide services, and none of the amount paid went toward the borrower's student loan balances. One of the main goals of the lawsuit is to help victims regain their money.

Another look at Chapter 7 bankruptcy

Many people living in Texas struggle with high levels of debt. These individuals may seek various types of debt relief, including credit counseling, debt settlement and other types of repayment plans. While these efforts sometimes work, many people find that filing for Chapter 7 bankruptcy is a good option. More importantly, some individuals realize that filing for bankruptcy is something that they should have done sooner rather than later.

New Supreme Court decision about Chapter 13 bankruptcy

Texans who are planning to file Chapter 13 bankruptcy petitions should take note of a recent U.S. Supreme Court decision that could affect those cases. The ruling, issued on May 4, ended a circuit court split regarding the ability of people to appeal denials of their Chapter 13 repayment plans.

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Plano, Texas 75074

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Sherman, Texas 75090

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