Blog Category: Filing bankruptcy


Longaberger’s Parent Company Files Texas Bankruptcy

Longaberger’s Parent Company Files Texas Bankruptcy

The parent company of Longaberger, the American manufacturer, and distributor of handcrafted wooden baskets and other lifestyle products filed a voluntary petition for Chapter 11 bankruptcy protection in the US Bankruptcy Court for the Northern District of Texas this week. The beloved company which is a subsidiary of CVSL and JRJR networks suspended operation nearly  … Read more

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Can Creditors Take Your Social Security in Bankruptcy?

Can Creditors Take Your Social Security in Bankruptcy?

Countless individuals wonder if creditors can take your social security in bankruptcy. Social security, after all, is a necessary lifeline for numerous Americans, especially the elderly. What happens to your social security money depends on a few factors, but is generally protected by Federal Law from being intercepted and paid to your creditors during the  … Read more

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Property Included in Bankruptcy Estate

Property Included in Bankruptcy Estate

What property will become part of your bankruptcy estate is governed by 11 U.S. Code § 541, commonly referred to as Section 541 of the Bankruptcy Code. When you file for Chapter 7 or Chapter 13 bankruptcy, you’ll disclose all property you own, both real and personal, in the Schedule A/B. This is one of  … Read more

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What to Expect from Pre-Bankruptcy Credit Counseling

What to Expect from Pre-Bankruptcy Credit Counseling

Before filing for bankruptcy, debtors are required to complete a mandatory, credit counseling course. The credit counseling course must be a non-profit and officially approved by the US Bankruptcy Court. If you file your bankruptcy petition without proof of completion, your bankruptcy case will be dismissed. The credit counseling course, however, need not be feared,  … Read more

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Offshore Oil & Gas Company, Seadrill, to File for Bankruptcy

Offshore Oil & Gas Company, Seadrill, to File for Bankruptcy

Seadrill, a deep-water drilling contractor that provides offshore drilling services to the oil and gas industry, announced that the company plans to file for Chapter 11 bankruptcy protection by mid-September of 2017, in order to implement a restructuring plan. In a statement by Seadrill’s CEO Anton Dibowitz, the company’s “primary objective at the moment is  … Read more

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Houston Texas Bankruptcy Tips

Houston Texas Bankruptcy Tips

While bankruptcy doesn’t initially seem like the topic that would involve “tips, just like any other section of the law, there are certain pitfalls that could have unintended consequences. Today we’ll look at how you can avoid these by following a few pointers when deciding to declare bankruptcy. Let’s review these Houston Texas Bankruptcy Tips:  … Read more

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What is a bankruptcy discharge?

What is a bankruptcy discharge?

By filing bankruptcy, a discharge of debts is the overall goal in most cases. A discharge of debts in bankruptcy varies within the different chapters of 7, 11, and 13, but the end result is the release of personal liability for certain types of debts. A bankruptcy discharge is a permanent order eliminating the debt  … Read more

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Home Equity and Bankruptcy

Home Equity and Bankruptcy

Many times people that are forced into seeking bankruptcy protection due to an overload of personal or business debt have at least some equity in the family home. Home Equity refers to the difference in what you owe on a loan for your home and what the value of the home is. What happens to this when  … Read more

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What Debts Are Not Resolved Through Bankruptcy?

What Debts Are Not Resolved Through Bankruptcy?

Most bankruptcy blogs will tell you very clearly exactly what debts are covered when you finally decide to seek protection through bankruptcy. Very few however will discuss exactly what debts may not be. Unfortunately, there are several types of debts that do not fall under the category that will be discharged even if your bankruptcy  … Read more

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