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October 2015 Archives

Texas debtors' rights to collect legal fees from creditors

The U.S. Court of Appeals for the 9th Circuit has ruled that creditors may now be required to pay the legal fees of debtors who have sued for damages in connection with a violation of an automatic stay. Previously, debtors were only permitted to do so in connection with curing the stay, and the decision actually overturned the court's previous ruling on the topic.

Repossession numbers on the rise in some areas

As Texas residents may know, while the rate of foreclosures may have dropped to earlier levels, the number of bank repossessions has gone up dramatically. According to RealtyTrac, a 66 percent increase in repossessions this year during the third quarter included over 123,000 properties returned to a bank in this three-month period.

Misrepresentations in bankruptcy can lead to asset seizure

Texas consumers sometimes face mounting debt that becomes unmanageable and need to file for bankruptcy. While bankruptcy can provide people with a fresh financial start, a recent case out of North Carolina demonstrates the importance of fully disclosing all assets and debts to the bankruptcy court.

Important facts about filing for bankruptcy

When bills overwhelm an individual, bankruptcy might present itself as a legal way out of financial hardship. The process, however, comes with long-term consequences and may not solve all debt problems. In Texas, a person considering bankruptcy can get counseling from nonprofit organizations or consult with an attorney.

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Plano, Texas 75074

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Sherman, Texas 75090

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