Click Here To Receive FREE Email Updates!

Archive for May, 2008

Can my home (in Texas) be foreclosed if I don't pay my property taxes? »

The short answer is yes.  In Texas, ad valorem  (property) tax liens are both constitutional and statutory.  Further, they are given an automatic priority over the mortgage companies lien.  On January 1 each and every year a tax lien automatically attaches to your property.  Further, if any taxes are delinquent on your property when you [...]

What Are The Creditors Duties Once They Have Been Informed Of A Bankruptcy Filing- Part 3 »

In this article, I will discuss the final duties imposed on creditors when they have been notified that a bankruptcy case has been filed.
7. Duty to stop collection efforts. Creditors obviously have a duty to stop all collection efforts when they receive official notice from the bankruptcy court that a bankruptcy petition has been [...]

With Humility Comes Wisdom… »

With humility comes wisdom, Proverbs 11:2. You may ask what does Proverbs or this saying have to do with debt? That is a great question. The first step in learning how to handle debt that has run a muck is to recognize that there is a problem. When you recognize that [...]

Bankruptcy: A State Specific Law? »

The bankruptcy law is a federal law.  In fact, the U.S. Constitution mandates that Congress enact uniform bankruptcy laws.  Doesn’t that mean that an article written about bankruptcy in Virginia will apply in Arizona?  Unfortunately, no: the law differs greatly from State to State.
The main structure of bankruptcy law is federal – passed by Congress [...]

Who Are The Trustee’s In Your Neighborhood, Part VIII »

If you are in the Western District of Missouri, Kansas City Division, there are 10 Chapter 7 Trustees. You can never choose the trustee for your case, they are assigned by the Court at the time of filing. So far we have introduced you to Mr. David C. Stover, Ms. Erlene Krigel, Ms. Janice Stanton [...]

What Are The Creditors Duties Once They Have Been Informed Of A Bankruptcy Filing- Part 2 »

As I previously discussed, there are several duties imposed on creditors when they have been notified that a bankruptcy case has been filed, especially if they have taken any collection actions after the filing. More of these duties include:
4. Duty to stop income execution and return funds. A creditor has an affirmative [...]

Debt Consolidation Loans – Poison For Your Wallet »

It seems as if every time you turn around, another offer of a debt consolidation loan hits your mailbox.  It’s usually very tempting, the chance to pay off your high-interest debt and make one simple monthly payment.  So you think about taking the offer, closing your other credit cards down, and improving your credit score.
If [...]

What Are The Creditors Duties Once They Have Been Informed Of A Bankruptcy Filing? »

Once a creditor has been informed that a bankruptcy has been filed, and if they have taken any steps since the filing, they have several duties. Failure to perform one or more of these duties can lead to an award of damages and legal fees. Some of these duties include:
1) A duty to [...]

The Who, What, When, & Where of Bankruptcy Appeals »

The who, what, when, and where of bankruptcy appeals can be tricky.  The following is a brief and very general roadmap to bankruptcy appeal filing:
Who:  The Debtor

Does It Matter If A Creditor Intended to Violate The Automatic Stay? »

When debtors attorneys file motions against creditors who violate the automatic stay, creditors often try to argue that they did not intend to violate the stay. If that is their only argument…they lose.
Last October, Nicholas Ortiz wrote on these pages about what is required to show that a creditor violated the automatic stay. [...]