The Texas Attorney General recently charged a Houston-based credit repair firm with violating the Texas Deceptive Trade Practices Act (DTPA). The action filed by the Texas AG’s office names Jubilee Financial Solutions LP, also known as The Credit Card Solution, Jubilee Financial Management LLC, and the companies’ owner, Robert Mitcell Lindsey. The defendants claimed their “debt [...]
August 2009
Some persons considering filing a chapter 7 or chapter 13 bankruptcy case might be concerned about their level of income being inflated due to working overtime hours, or having a part-time job in addition to their main full-time job. The concern is that the heightened level of income might render the debtor ineligible for chapter 7 [...]
Most clients come to see me not because they don’t want to pay their bills but because the bill collectors won’t quit calling them. If they qualify, I advise them to file a Chapter 7 bankruptcy for two primary reasons. First, the filing of the case imposes an automatic stay which stays any creditor from collecting [...]
Debtors having trouble making monthly payments often consider conversion of their Chapter 13 case to a Chapter 7 case. In general, a Chapter 13 case can be coverted or dismissed at the debtors’ option. However, if the plan has been in operation for several years, the debtor may have acquired new or different assets that [...]
How is the monthly payment calculated in a chapter 13 bankruptcy case? For most, the monthly payment under a chapter 13 plan consists of what the debtor can afford to pay, after paying all of the monthly living expenses which are necessary to maintain a normal middle class type lifestyle. If you thought chapter 13 involved [...]
The mortgage industry has insisted they could fix the mortgage problem. Then they convinced congress that they can fix the mortgage problem. Then the mortgage industry convinced congress that giving the Bankruptcy Judges the ability to modify first mortgages was unnecessary. Its been several months since this was a hot issue. It has now faded away [...]
