Blog Category: News

As the New Year approaches there is not a better time to think about your credit.  While you develop goals and resolutions for 2021, be sure you focus the same amount of time and effort into the health of your finances. The best way to do this is to really get to know your credit.  … Read more

The restaurant industry has been hit hard this year; with a majority of small, family owned businesses forced into financial hardship. In the earlier part of the year, all restaurants were required to modify operations, limit patrons, or forced to close down altogether for a specified period of time. The result of which has too  … Read more

AMC, the world’s largest cinema chain, has taken a massive blow to revenue this year among the economic turmoil brought about by the pandemic.  Prior to pandemic, AMC was already struggling to alleviate the pressure an existing $5 billion in debt crushing its bottom line.  Nearly nine month later, the company is seeking relief through  … Read more

Reese Baker is the founder of Baker & Associates law firm, primarily located in the metro-Houston area. Mr. Baker has been assisting Texans get out of debt, gain financial freedom, and plan for a solid financial future for nearly forty years.   Mr. Baker was awarded Texas Super Lawyer in 2007, and again from 2014  … Read more

Have you considered Chapter 7 bankruptcy before, but were not eligible due to your income levels? Are you considering bankruptcy, but worried you will make too much to qualify? As of November 1, 2020, the eligibility rules have changed that could benefit people now more than ever. The Means Test The means test is the  … Read more

An estimate by the Federal Reserve Bank of  New York, reports a large percentage of the population is deemed as “financially solvent”. Financial insolvency, otherwise known as “being broke”, means one owes more in debt than has in valued assets. The FRBNY estimates nearly 15% of the population is considered financially insolvent. As the economy  … Read more

After the quarantine began in March 2020, many companies and individuals were affected differently, which provoked some proposals for changes in the Bankruptcy Law. If approved, this law can be changed to suspend debt collection for 30 days, and create a preventive negotiation system to provide further protection and prevent many companies from closing their  … Read more

Many big names have filed for bankruptcy from small businesses to huge department stores and entertainment companies since the start of the pandemic COVID-19 situation. Even considering the reopening of the economy, the social distancing measures may continue, and for some companies, this can indicate significant problems in the financial field. It’s important to understand  … Read more

Unfortunately, in our society, there are those that prey on vulnerable people. When you are overwhelmed in debt and looking for financial relief, you may come across such people looking to take advantage of you. Problems It is a common practice for scammers to use personal information from court bankruptcy filings to contact you regarding  … Read more

The Senate has recently passed a Coronavirus Stimulus Bill providing greater access to bankruptcy relief for distressed consumers and small businesses. The Coronavirus Aid Relief and Economic Security Act (CARES Act) will give financially distressed consumers greater access to bankruptcy relief. Key bankruptcy provisions within the CARES Act include: Amending the small business reorganization act  … Read more