Month: May 2011

Redeem Your Property in Bankruptcy

In a Chapter 7 liquidation case, an individual debtor may redeem certain "tangible personal property intended primarily for personal, family, or household use" that is encumbered by a lien. To qualify, the property generally either (A) must be exempt under section 522...

Transferring Property Before Bankruptcy

Bankruptcy laws allow debtors to protect and keep certain property from creditors so that the debtor has a better chance at a fresh start after filing bankruptcy.  These bankruptcy laws are called exemptions.  Many people, however, do not understand these bankruptcy...

Conversion in Bankruptcy

Conversion is the action to convert a bankruptcy case from one chapter to another chapter. Conversion can be involuntary or voluntary. Converted cases will have the same case number but will have a different trustee appointed to oversee the administration of the case...

Bankruptcy and 401(k) Loans

Many times, as clients reach the point of filing either a Chapter 7 or Chapter 13 bankruptcy, they have already exhausted all other sources of cash, such as cashing out or borrowing against retirement plans.  As many clients cash out their 401(k) accounts, they could...

Chapter 7 and your vehicles

Everybody needs to get to work.  Most people have kids to take to school, groceries to pick up, or errands to run that just cannot be done in today's world without a car.  The bankruptcy code provides exemption schedules as does the Texas Property Code.  Those...

Dallas Bankruptcy Blog

Chapter 13 and Chapter 7 bankruptcy almost always helps individuals who are discouraged and hampered by pre-existing debt find a fresh financial start.  Being in debt can cause a number of problems, and finding a solution to the debt can help alleviate if not often...

Bankruptcy and Divorce

"Love and Marriage...Love and Marriage..." the song says, "you can't have one without the other."  Well, sometimes Bankruptcy and Divorce go hand in hand as well.  Often times, if the couple is able to get along well enough through the bankruptcy proceedings before...

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