Pelley Law Office LLP
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July 2016 Archives

Debt-settlement companies and debt balances

Texans have several options when they are facing overwhelming levels of debt. Those choices may include getting help from a credit counseling agency, engaging in a personal budgeting plan, going through debt settlement companies or filing for consumer bankruptcy. It is important for consumers to understand that debt-settlement companies are not the same as credit counseling agencies.

Paying off debt

People who are struggling with debt in Texas may be looking at debt management programs that can help them pay down their bills. One common strategy for paying bills is the so-called "debt snowball."

Bankruptcy court questions 50 Cent's Instagram posting

Texas fans of rapper 50 Cent may have heard that the entertainer filed for bankruptcy. He had faced a lawsuit from a woman involving a sex tape and had been ordered to pay her $7 million. With this debt on top of some losses in business, 50 Cent turned to bankruptcy.

Court rules that indemnity provision is not support

Texas residents may know that student loans and back taxes are not usually discharged by a Chapter 7 or Chapter 13 personal bankruptcy, but they might not be aware that alimony and maintenance payments required by divorce settlements could also be nondischargeable. A Virginia woman tested the scope of this exemption by filing a lawsuit claiming that a property division agreement she had entered into with her ex-husband amounted to alimony, support or maintenance, but her arguments failed to sway a bankruptcy court judge.

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1312 14th Street, Suite 100
Plano, Texas 75074

Phone: 972-608-0335
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Sherman Office
905 North Travis Street
Sherman, Texas 75090

Phone: 903-813-4778
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6060 North Central Expressway, Suite 602
Dallas, Texas 75206

Phone: 214-733-1775
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