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Chapter 7 Bankruptcy Archives

Knowing when to seek help for financial issues

Texas residents may experience financial problems from time to time. However, individuals who are consistently making late payments or have not gotten around to creating a budget may benefit from a talk with a credit counselor so that they can learn more about their options when it comes to overcoming financial issues.

Determining bankruptcy estate assets in Texas

A bankruptcy court in Massachusetts has held that an attorney who accepted $10,000 in legal fees must turn it over to a Chapter 7 bankruptcy trustee. The judge in the case found that the money was earned prior to the bankruptcy being filed by the attorney, which means it was part of the bankruptcy estate. The attorney billed his client $291, $8,924, and $2,070 at various times after asking for Chapter 7 protection from creditors.

Chapter 7 bankruptcy and carve-out agreements

Many Texans struggle with debt levels that have become simply unmanageable. When people are struggling, they may also be facing foreclosure actions in addition to being unable to pay their unsecured debts. This combination of factors may lead them to consider filing Chapter 7 bankruptcy.

HealthSpot files for Chapter 7 bankruptcy

Technological advances have provided interesting solutions for Texas residents in need of quick answers to minor health care concerns. Kiosks that provide for interaction in real time with a doctor have been developed and placed in both retail and work locations to fill this need, but one of the major companies in this industry has filed for Chapter 7 bankruptcy. HealthSpot reportedly shut down approximately two weeks prior to the filing.

Student loans and bankruptcy in Texas

In some cases, it may be possible to get student loans discharged in bankruptcy. However, that is not a given, and whether or not these loans are discharged depends largely on the circumstances surrounding a case. For some, it may be possible to have private student loans discharged if some or all of the balance of those loans was not used for qualified educational purposes.

How bankruptcy and divorce can be intertwined

Many Texas marriages founder due to adverse financial circumstances. When people decide to end their marriage as well as seek bankruptcy protection, they need to be aware of some important factors that may change the order in which they should file the two cases. If they are not careful, they may be prevented for getting a discharge through Chapter 7 simply because of filing order problems.

Reality television star filed for Chapter 7 bankruptcy

Texas residents who watch reality television shows may be aware that several prominent reality stars including Sonja Morgan, Teresa Guidice and Alexis Bellino have filed bankruptcies in recent years after running into financial problems. Morgan appeared on 'Real Housewives of New York," Guidice found stardom on 'Real Housewives of New Jersey" and Bellino is best known for her appearances on 'Real Housewives of Orange County." Media outlets reported on Nov. 23 that Robyn Dixon, who found fame after being cast in 'Real Housewives of Potomac" had also previously filed for bankruptcy.

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.

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.

Criminal Charges Against Case Runner Include Bankruptcy Fraud

A San Antonio area man was arrested while trying to flee to Mexico this past Friday. He had been financing an extravagant lifestyle with funds stolen from a number of local law firms that he managed. While not a lawyer, this man was in charge of funds that should have been given to clients following case settlements or used to pay for medical care clients had received.

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