Bankruptcy audit program suspended indefinitely
When Congress revised the nation’s bankruptcy laws in 2005, there were concerns it could become more difficult to file for bankruptcy. Fortunately, that has not been the case for most people interested in fling. The 2005 law did add a few additional hoops to jump through. Overall, though, bankruptcy remains a very useful strategy in […]
Don’t let dubious debt collectors keep you from real debt relief
Informing people about the threat of unfair or fraudulent debt collection practices is one of the themes of this blog. In our February 15 post we wrote about a recent Texas case in which the Federal Trade Commission took against a debt-collection company for egregious violations. The problem is so big, however, that fake debt […]
Fighting back against debt collection threats
The debt collection industry is out of control. Indeed, it has been out of control for years. But consumers and their advocates, as well as government regulators, are increasingly fighting back. If you are struggling with the need for debt relief, you may have experienced unfair collection practices. You may even have experienced one or […]
Avoiding debt collection is not the same as debt relief
Facebook, Twitter and other social media websites have profoundly changed the way many Americans share information about their lives. But does that mean that it’s fair game for debt collectors to contact debtors on those websites? The answer is essentially no. But federal regulators realize they need to do more to prevent debt collectors from […]
Debt collectors and disclosure to third parties: law sets limits
Being in debt should not be a matter of shame. Many people face struggles in paying their bills. And there are many factors beyond a person’s control such as job loss or medical bills that can throw a family’s finances out of whack. Fortunately, we don’t live in a society that throws people in debtor’s […]
Supreme Court to hear Chapter 7 bankruptcy case
The U.S. Supreme Court doesn’t hear bankruptcy cases very often. But this year the Court does have a bankruptcy case on its docket. The case is called Bullock v. BankChampaign, N.A. The case is important because of the questions it addresses about what debts can be discharged in a Chapter 7 bankruptcy. Texas and all […]
Tax debt in Texas: bankruptcy options
Debt is much on the minds of all Americans – Texans included. It isn’t just the national debt, either. Many local governments also have problems with municipal debt. And of course, if you’re reading this post, you may be in need of personal debt relief. If you owe back taxes to the IRS or the […]
Buying a house after bankruptcy
There are many myths and misconceptions about bankruptcy. Indeed, there are far too many to clear up in just one blog post. But let’s take one such misconception: that by filing bankruptcy, you are compromising your ability to get a mortgage to buy a house in the future. In practice, this is simply not always […]
Student Loan Debt: Can Bankruptcy Resolve It?
You have heard that student loan debt is not dischargeable in bankruptcy. It’s true that is the general rule. But in certain cases, when there is undue hardship, it is sometimes possible to discharge student debt through bankruptcy. In fact, such a discharge just happened in a case in Buffalo, New York, involving a 64-year-old […]
Small Business Bankruptcy: Structure Affects Choices
In order to get the fresh start that bankruptcy can offer, you’ve got to consider which type would be best for you. Chapter 7 bankruptcy is often known as “liquidation” or straight bankruptcy because it requires clearing out all nonexempt property to satisfy debts owed to creditors. If they meet certain requirements, Texas consumers can […]