Bankruptcy Insights

Bankruptcy Means Test – Which Chapter is for You?
What are the qualifications for an individual/couple to file for Bankruptcy?  The answer to this question is simple  -- there are no qualifications for filing Bankruptcy.  Everyone has the right to file a petition for relief under the Bankruptcy Code.  All one has to do is file a Petition for Relief with the Bankruptcy Court.  What type of bankruptcy an individual/couple can file does have...
First Meeting of Creditors for Ch 7 & Ch13 – What to Expect?
When I mention to clients that they will be required to appear at a 341 First Meeting of Creditors after we file their bankruptcy, most of them cringe and become nervous immediately. They imagine a Meeting where they are interrogated and questioned about every aspect of their case. In El Paso, the these meetings are nothing to be nervous about....
Will a Pending Divorce Screw Up Your Chapter 13 Bankruptcy?
Once your Chapter 13 has been confirmed you have a sense of relief because your financial chaos is finally under control. Your home is secure, your vehicles are secure.  You're feeling pretty good about life, as you should. In your Chapter 13 you have between 3 years and 5 years to make your plan payments before your case is discharged.  Often the stress and strain of finances puts a tremendous strain...
Can Chapter 7 Stop Wage Garnishment from Default Credit Cards?
Before some people actually make an appointment for a free consultation their lives are so stressful.  Finances - especially large amounts of debt often force people to make decisions that they know instinctively are wrong, but they make them because of fear and desperation.   Most people juggle their finances robbing Peter to pay Paul for as long as they can.  At some point you  face the inevitable, your financial life is in chaos...
Chapter 13 Bankruptcy – To Buy or Sell – You May Need Permission
Filing for bankruptcy for many is the most difficult decision they will ever have to make.  It is something completely foreign and new to them.  Due to the fact that bankruptcy has such a stigma many people don't discuss it and don’t really understand what bankruptcy is all about.  If you take the step in the direction of bankruptcy remember that if you are in a...
Your Chapter 13 was Dismissed………….Now What?
We often have initial consultations with people who have already filed a previous Chapter 13 case. These folks are normally in a panic because they're afraid of losing their home again; the threat of foreclosure and repossession of their vehicle(s) is very real. If you filed Chapter 13 and there was a reasonable explanation as to why you were unable to fulfill...
Are You Spending Too Much Time with a Foreclosure Specialist?
Many people are being faced with the horrible experience of receiving a foreclosure notice. It must be devastating and so your heart pounds in your chest, beads of sweat develop on your forehead and your hands start to shake. All this emotion and yet you knew it was coming. Knowing but not really understanding what to expect.  Many people I've found are in denial, rejecting the possibility anything bad will happen at...
Bankruptcy Can Provide Peace of Mind for Soldiers Deploying
Many couples or individuals, prior to deployment, try to get their personal matters in order. During this very stressful time and period of adjustment the last thing any service member needs is to be worried about their financial status.  For many, however, this issue arises as life never goes according to plan. Considering bankruptcy - either Chapter 7 or Chapter 13 is a viable option for many...
Bankruptcy Requirement – Where’s All Your Documents?
Bankruptcy requires more than just signing papers and you’re headed out the door.  It‘s hardly like that at all. When we present the list of documents required to our clients, I can never stress enough how important these documents are and how important it is to keep them updated. We don't ask the documents to have them in our archives, these documents are extremely important...

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