Bankruptcy exemptions in Texas exist for you to use them
Owning a business can be one of the most rewarding experiences. Although owning a business comes with a lot of benefit, it also comes with a big financial risk. Owners often put their “all” into the company they own, and this often includes equity from their home. Debt can quickly become overwhelming, but thankfully there […]
Deja vu all over again: filing bankruptcy more than once
“Deja vu all over again” is one of the paradoxical expressions associated with the baseball legend Yogi Berra. The statement could be applicable in almost any context where someone is going through something they have been through before. How would apply, however, in the context of a bankruptcy filing? In the wake of the Great […]
Bankruptcy has many benefits, even if all debt is not discharged
Our message in this blog, week after week, is consistent. Consumer bankruptcy can be a useful debt relief strategy for people who are struggling with unsustainable bill payments due to job loss, a serious illness or other circumstances. It’s true that, in the last year, the number of bankruptcy filings across the nation has gone […]
Debt and divorce, part 2: mortgage debt and bankruptcy
Let’s pick up the thread we began exploring last week regarding the effect of a divorce proceeding on liability for joint debts. A divorce settlement may assign one party to the settlement to pay certain debts that the couple had. But what does really mean in practical terms? After all, mortgage companies and other creditors […]
Debt and divorce, part 1: is a joint bankruptcy filing possible?
Divorce and bankruptcy often go hand in hand. After all, financial problems can contribute greatly to breaking the emotional bonds that underlie a marriage. And in a sense, divorce and bankruptcy offer the same thing: a fresh start. With divorce, this takes the form of recast relationships. With bankruptcy, it takes the form of debt […]
Credit card debt rising across country
When the great recession hit, more people found themselves struggling with serious financial problems. They may have lost their jobs or seen their hours reduced, making it difficult for them to have a stable source of income. Because of this, many people had to create strict budgets that allowed them to better track where they […]
Stop Credit Card Collectors From Harassing You
Are you constantly receiving telephone calls and letters from bill collectors? Are some of them being very rude and using unethical tactics (i.e. calling you at work; calling your next door neighbor and/or calling your relatives)? The Davis Law Firm can help you. We can stop the bill collectors and credit harassment. Call us at […]
Don’t Be Afraid of Bankruptcy
Filing for bankruptcy is never an easy decision. Most of us see it as a last resort to all of our financial troubles and the coward’s way out. This is absolutely untrue. Bankruptcy is nothing to be ashamed of and it happens more often than you know. Approximately 1 out of every 212 people in […]
Are inherited retirement accounts protected in bankruptcy?
One of the key questions in a bankruptcy proceeding is exempt vs. non-exempt assets. And one of issues that can come up there is whether individual retirement accounts that someone has inherited should be considered exempt assets — and therefore beyond the reach of someone’s bankruptcy creditors. Federal courts have not agreed on how this […]
For many grads, overwhelming problems with student loan debt
For decades, the middle class has bought into a promise that is a basic premise of American life. Studying hard and staying in school is supposed to pay off. Even if individuals and families have to borrow tens of thousands to do it, there is supposed to be a good job on the other end […]