More than 1.2 million Americans will file for bankruptcy this year. Even though bankruptcy is not uncommon for residents of Texas, there are still common misconceptions about individuals who file for bankruptcy. Some believe that those who file are financially...
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Month: May 2012
Big Five Mortgage Settlement: Will It Help You?
On Behalf of Pelley Law Office LLP | May 22, 2012 | Chapter 13 Bankruptcy
Earlier this year, the five major banks reached a settlement with the federal government and most of the state attorneys general that could help some homeowners who face significant housing debt. The banks agreed to pay $25 billion to settle a lawsuit charging them...
Avoid Credit Repair Scams, Consider Bankruptcy
On Behalf of Pelley Law Office LLP | May 17, 2012 | Bankruptcy
Many Texans are familiar with the difficult financial times we live in. If you are looking for solutions to your financial difficulties, where should you turn? What choices can help you down the road to recovery? What choices can harm you? In this blog post, we will...
The Intersection of Business and Personal Bankruptcy
On Behalf of Pelley Law Office LLP | May 14, 2012 | Bankruptcy
You have put your time and money into your business. You want it to succeed, but it is challenging in this financial climate. You face significant personal and business debt. What should you do? Some business owners continue to build debts and refuse to file...
What is the difference between secured and unsecured debt?
On Behalf of Pelley Law Office LLP | May 4, 2012 | Bankruptcy
It seems like every legal proceeding requires the parties to learn a new language. For example, in bankruptcy law, there is exempt and nonexempt property, secured and unsecured debt, bankruptcy trustee and other phrases that you do not run into every day.Yet, that is...