Houston Bankruptcy Watch: Mattress Firm

Houston Bankruptcy Watch: Mattress Firm

Houston Bankruptcy watchers saw the Houston-based mattress manufacturer and retailer, Mattress Firm, announced that it was filing for Chapter 11 bankruptcy. Attorneys in Houston Texas will explain that in most retail Chapter 11 bankruptcy cases, overexpansion will result in a “financial timeout” to downsize the least profitable stores and reorganize their debt obligations. This usually  … Read more

  Filed under: News


Houston Texas Bankruptcy Watch: Texas Equusearch

Houston Texas Bankruptcy Watch: Texas Equusearch

Nonprofits play a major role in society. Working hard to build and fund your nonprofit requires assistance in the form of practical advice and step-by-step instructions. Even in successfully operated a tax-exempt organization money can run out, leaving those individuals whose lives are enhanced without other options. Texas EquuSearch Started in 2000, 501(c)(3) Texas EquuSearch  … Read more

  Filed under: News


How Can Bankruptcy Keep Utilities from Being Shut-Off?

How Can Bankruptcy Keep Utilities from Being Shut-Off?

When you’re drowning in debt from credit card payments, medical bills, student debt, or legal fees, it can be every in one’s power just to keep food on the table and the rent paid. One essential for living that is an absolute must, especially in areas of the country like Texas was the climate can  … Read more

  Filed under: bankruptcy


Can I Convert a Chapter 13 to a Chapter 7 Bankruptcy?

Can I Convert a Chapter 13 to a Chapter 7 Bankruptcy?

Individuals who file for Chapter 13 bankruptcy in Texas sometimes find themselves unable to afford the continuing funding of their Chapter 13 reorganization plan. The US Bankruptcy Code was luckily not created in a vacuum and Congress realized that unexpected emergencies such as unforeseen bills, illness, and loss of employment happen. Because of this realization,  … Read more

  Filed under: Chapter 13


What Qualifies as Debt Collection Attempt?

What Qualifies as Debt Collection Attempt?

When an individual files bankruptcy in Texas, they are awarded a temporary automatic stay which prevents any creditor from making attempts to collect a debt. Sometimes, however, a debt collection attempt is made in violation of the automatic stay. Because of the ramifications, creditors typically do everything they can to avoid violating the automatic stay,  … Read more

  Filed under: Debt


Do I Pay Taxes on Debt Discharged in Bankruptcy?

Do I Pay Taxes on Debt Discharged in Bankruptcy?

Typically, if you have had debt canceled that amounts of over $600, you should expect the IRS to send you a 1099-C form. You see, the IRS considers debt that has been forgiven to be equal to income. Income that Uncle Sam expects you to pay taxes on and the 1099-C is how this income  … Read more

  Filed under: Taxes