bankruptcy blog

On October 31. 2019 Gastar Exploration filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court of the Southern District of Houston. Gastar entered into a pre-packaged restructuring support agreement with Term Lenders, Second Lien Note-holders, and other holders Existing Common Interests. In a statement released by Gastar Exploration Inc. on January 22,  … Read more

In the beginning, bankruptcy was a creditors remedy. It existed so the creditors could seize the property of a trader who was behind in payments and have him thrown in jail until his debts were paid. From the late 1600s to early 1800s these jails, modeled after the debtor’s prisons in London, were like workhouses.  … Read more

When a debtor becomes bankrupt, a trustee must be appointed to represent the interest of the creditors and the debtor. A trustee is required in all personal bankruptcy cases and sometimes in Chapter 11 business cases if impartial control of the estate is needed. The permanent trustee is assigned at the meeting of the creditors  … Read more

Filing for Texas bankruptcy protection can be a useful tool when facing seemingly insurmountable debt. When working with a Texas bankruptcy attorney, you can effectively stop foreclosures, repossessions, debt collection attempts, termination of your utilities, and even reinstate your Texas Driver’s license. While there are a few situations which can bar you from getting your  … Read more

Bankruptcy attorneys in Houston Texas are keenly interested in bankruptcies in the oil and gas sector. Debt levels and bankruptcy cases in one of Texas’s biggest industries tend to show indicators of the state’s economic health as a whole. While the previous quarter shows a significant decrease in oil and gas bankruptcies, will the trend  … Read more

When some people think of bankruptcy, they think of dishonest people who rang up a bunch of bills and then don’t want to pay for them. Or that people lived foolishly and now are stuck with the fallout of too much debt. The Truth About Bankruptcy The reason we have the bankruptcy laws is to  … Read more

While it’s true, bankruptcy can show up on your credit report for up to 10 years, but bankruptcy is certainly not the only thing that can damage your credit rating. Falling behind or avoiding making payments can also negatively impact your credit score. Other reasons for negative hits to your credit report include foreclosures, court judgments,  … Read more

Getting out of debt can be difficult. You will have to develop a plan and stick to it if you want to pay down or get out from under the crushing weight of too much debt. Limit Credit Cards If you are unable or unwilling to get rid of your credit cards, at least stop using  … Read more

You have two options when filing personal bankruptcy, Chapter 7 or Chapter 13, named for the codes in the bankruptcy law they represent. Businesses and farmers have different types of bankruptcy rules. Chapter 7 Chapter 7 is the most basic form of bankruptcy. It allows you to eliminate or “discharge” certain debt. When you have  … Read more