bankruptcy blog

For those unaware of the matter, retail stores and restaurants in the US have had a rough go over the past 24-36 months, keeping bankruptcy attorneys quite busy. Some absolute behemoths of industry such as Claire’s, Toys R’ US, Pac Sun, Aeropostale, Wet Seal, and Bon Ton have all filed bankruptcy since 2015, in a  … Read more

In recently Houston, TX bankruptcy news, Erin Energy announced this week that it will file for voluntary bankruptcy protection in an effort to restructure debt and restore its finances. Formally known as Camac Energy, the Houston-based oil and gas exploration and production company focused mainly on oil and gas development for African offshore plays, weighing  … Read more

Numerous individuals wonder if they have enough debt to file for bankruptcy protection. The fact of the matter is that there is no legal minimum set for in the US Bankruptcy code to become eligible for bankruptcy. There is, however, a debt ceiling that limits an individual from filing Chapter 13 bankruptcy. Minimum Debt to  … Read more

In a closing to the final chapter of the nearly 24 months Chapter 11 Houston bankruptcy process, the Texas-based Breitburn Energy Partners successfully exited chapter 11 reorganization this week. The company will now be known as Maverick Natural Recourses LLC. The company, who began its Chapter 11 bankruptcy process in 2016 after oil prices plummeted  … Read more

Houston Based Charming Charlie field for Chapter 11 bankruptcy protection this week, as yet another retailer is forced to restructure its debt in order to remain solvent. Charming Carlie’s is a women’s jewelry and accessory retailer founded in 2004 by Houston entrepreneur Charlie Chanaratsopon. The company has operated over 350 global retail locations across North  … Read more

Perhaps the largest source of anxiety with declaring bankruptcy is the court appearance called the 341 meeting of creditors. Appearing in court can be considered an unpleasant experience by some, however, the 341 meeting isn’t your normal court appearance and shouldn’t be feared. The 341 meeting can be viewed as a one-on-one conversation between yourself  … Read more

For those of you who have heard that Chapter 13 bankruptcy can be difficult, it’s not too far from the truth. Surviving a Chapter 13 bankruptcy repayment plan over the course of 3-5 years is no small feat and requires an iron-clad will and systematic conscious of your finances at all time. Bankruptcy requires individuals,  … Read more

When filing for Chapter 7 bankruptcy in Texas you are required to take a means test in order to be able to discharge your debts using bankruptcy. With exception of course, to Veterans who are exempt from a means test if the debt was incurred while on active duty. A means test is essentially a  … Read more

When you fall behind on paying your credit card debt, your creditor will attempt to collect the debt, but if they believe that you have no intention of paying it back, they are likely to close the line of credit and file a lawsuit in order to obtain a judgment against you. Being sued by  … Read more

For those suffering from severe debt, who are considering bankruptcy or who are already in the Chapter 13 repayment process, you are probably curious as to how the Chapter 13 bankruptcy process is completed. A Chapter 13 bankruptcy can end in one of two ways, a dismissal or a discharge. One is the realization of  … Read more