Texas Bankruptcy Legal Questions

I agree.  It's very wrong but I have seen numerous people get lured into the same situation.  Since they haven't actually went through with a foreclosure (which is apparent from their requests that you deed the house to them or short sale it to them), you could file a chapter 13 bankruptcy and catch the house up over the next 5 years.  I also would take a hard look at the equity in the house and seriously consider whether or not it was worth trying to catch up before I put another cent into saving it.   What Texas County do you live in?  This would determine what Court had jurisdiction.   Thanks...Ken Wake... Read Answer

Student loans are not dischargeable in bankruptcy except in the case of "undue hardship," which can be very difficult to prove in court. If your student loans are federal loans, you have several different discharge and repayment options instead of bankruptcy. You can go to http://www.nslds.ed.gov/nslds_SA/ and print out a list of your loans. You can then go to http://studentaid.ed.gov/repay-loans and review your repayment options. If you are still not sure what to do, make an appointment with an attorney that is familiar with student loans and get advice. You may have to pay a consultation fee or a fee to analyze your options with you. If your loans are private loans, your repayment options are currently limited. Private student loans are not currently dischargeable in bankruptcy, but at least they cannot garnish your pay in Texas unlike federal loans. Also, private student loans are subject to the state statute of limitations on the collection of debts, unlike federal student loans. If you are sued by a private student loan lender, hire an experienced consumer law attorney to represent you.... Read Answer

If she properly claimed the home as exempt homestead, and if she is current on any mortgages, taxes, and homeowner association dues, it may not affect you or the home at all. But if she proposes to surrender the property to a lender or to a bankruptcy trustee, or if she is delinquent on the mortgage payments, property taxes, or homeowner dues, then the home could be in danger. If you signed on the mortgage(s), your credit is in danger, and you could be responsible to pay any deficiency if the home is foreclosed upon. To receive legal advice that you can rely upon, consult with a bankruptcy lawyer in your area. Most bankruptcy lawyers have access to the Public Access to Court Electronic Records (PACER) system and can likely tell you what is going on in the bankruptcy case quickly.... Read Answer

If you paid it in full and it shows correctly on your credit report as paid in full, I'm not sure why you would list it on your bankruptcy schedules. You must list your creditors on your bankruptcy schedules, but if this creditor has been paid in full and acknowledges that, I see no reason to list them in your bankruptcy.... Read Answer

The "Pending FRA" means that your trustee is still preparing the "Final Report and Accounting" to submit to the Bankruptcy Court. The Chapter 13 Trustee files this report after completion of administration of the estate, either after completion of plan payments by the debtor, after the debtor receives a hardship discharge, or after the case has been dismissed or converted. Once complete and submitted, you should receive your discharge soon thereafter, assuming that you qualify for a discharge under Chapter 13. If you took the educational course, and signed and filed your Certification and Motion for Discharge, you should be in good shape and you should receive your discharge soon.... Read Answer

The case number is issued after your case has been filed. If you hired an attorney solely to avoid creditor contact, and not to file a bankruptcy, there would not be a case number. If you did hire them to file bankruptcy, then the time period depends on what you and the attorney agreed to.  What does it say in your retainer agreement?  Have you provided the attorney all the requested documentation and information for them to prepare your case?  Have you paid all the fees?   I am not really sure what your issue is and there's too much missing information to guess.   Mark Markus has been practicing exclusively bankruptcy law in California since 1991.  He is a Certified Specialist in Bankruptcy Law by the State Bar of California Board of Legal Specialization,  AV-Rated by martindale.com, and A+ rated by the Better Business Bureau. ... Read Answer

There is no limit to how many times you can file under any bankruptcy chapter.  There are limits, however, on whether you can receive a discharge of debts.   My article on the times between bankruptcy filings goes through these periods.  In your case, however, it has been more than enough time under any circumstance so you can file another Chapter 13 case now and receive a discharge, assuming you are otherwise eligible to file a Chapter 13 (e.g. you meet the debt limitations, etc.) Mark Markus has been practicing exclusively bankruptcy law in California since 1991.  He is a Certified Specialist in Bankruptcy Law by the State Bar of California Board of Legal Specialization,  AV-Rated by martindale.com, and A+ rated by the Better Business Bureau. ... Read Answer

That depends on which chapter of bankruptcy you're referring to and what you mean by "resolved". See http://www.bklaw.com/california_bankruptcy/bankruptcy_process.html for more details on how the process works for each chapter. Mark Markus has been practicing exclusively bankruptcy law in California since 1991.  He is a Certified Specialist in Bankruptcy Law by the State Bar of California Board of Legal Specialization,  AV-Rated by martindale.com, and A+ rated by the Better Business Bureau.  ... Read Answer

If you filed without an attorney, you are responsible for knowing the laws and procedures and how to file Motions, such as a Motion to Dismiss your case. Sounds like this would be a good time to have a consultation with a bankruptcy attorney in your area for more details on how to accomplish your goals. Mark Markus has been practicing exclusively bankruptcy law in California since 1991.  He is a Certified Specialist in Bankruptcy Law by the State Bar of California Board of Legal Specialization,  AV-Rated by martindale.com, and A+ rated by the Better Business Bureau.  ... Read Answer

You ask a very good question, but it is extremely complex in its analysis and result.  I will give you some preliminary comments here, but you each need to get competent bankruptcy counsel to advise you on your options. A lot depends on which bankruptcy chapter you would be filing, and there are problems with each.  In a Chapter 7 case, you are technically not allowed to continue operating any business.  Now some courts and trustees will allow you to do this in a Chapter 7 as long as you have adequate liability insurance.  So you better know your judges and trustees very well before filing a case. The value of your business assets also factors into the risks in a Chapter 7 case, because you may not be able to protect all of them, depending on what exemptions are available to you under applicable state law. In a Chapter 13, there are less issues involving the value of your assets and you are free to continue operating your business, but you have a plan term of 36-60 months for your repayment plan, and any divorce during that time will cause significant problems with completing your case, not to mention the ability of your attorney to represent either of you. What is the legal basis your friend sees and advantage for you filing bankruptcy during the divorce?  Perhaps some clarity on that point would assist in providing you a more specific answer. In any event, you need to consult with a bankruptcy attorney in your area to deal with all the issues. Mark Markus has been practicing exclusively bankruptcy law in California since 1991.  He is a Certified Specialist in Bankruptcy Law by the State Bar of California Board of Legal Specialization,  AV-Rated by martindale.com, and A+ rated by the Better Business Bureau.  ... Read Answer

You need to discuss this with your attorney. In general, if you have any unused exemption available, you may be able to exempt some of the money. Second, you may be able to disclaim your inheritance. And, no, do not attempt to hide it unless you plan on spending some time in federal prison.... Read Answer

This very much depends on what debts you have remaining after the Chapter 7 discharge. Anything discharged in the 7 does not have to be paid in the 13, unless it is a secured debt for property you want to keep. Certain other debts must be paid in full during a Chapter 13, while other debts do not have to be paid in full. You really need to visit with an attorney about this.... Read Answer