In 2005, the Bankruptcy Abuse Prevention and Consumer Protection Act was signed into law by President G.W. Bush. This was the “bankruptcy overhaul” bill that was long sought after by lobbyists in the credit card and lending industries, essentially making it more challenging for individuals to file Chapter 7 bankruptcy and discharge their debt. One [...]
Free Consultation
(713) 789-3300
Blog
Chapter 7 Bankruptcy in Houston Compared to Chapter 13 – What’s the Difference?
Filed under Chapter 13 Houston, Chapter 7 Houston, Uncategorized, Weber Law Firm
June 26th, 2012
Prior to January 2012, the rules relating to the discharge of tax debts in bankruptcy cases were relatively straight forward. Bankruptcy Code §§ 507(a)(8) and 523(a)(1) provide that income tax debts can be discharged in bankruptcy if the tax in question meets the following requirements: Three Year Age Rule. More than 3 years must elapse [...]
Local Bankruptcy Filings Up 9.7% But Texas State and Local Bankruptcy Filings Still Rank the Lowest in the Country
Filed under UncategorizedA common client question is: Are bankruptcy filings increasing as a result of the downturn in the economy? The normal assumption is that bankruptcy filings must be increasing because of all of the national media reports about unemployment, the inability for businesses to obtain loans, and the general downturn in the economy. The clear answer [...]
April 10th, 2012
Activity Depicted in Operation Repo is Illegal in at Least 49 StatesThe Misconception About Repossession.Several popular realty television shows depict creditor attempts to repossess collateral after a consumer defaults in repaying the loan. One example is Tru TV’s “Operation Repo” which stars thug like characters repossessing vehicles through coercion, violence and physical confrontation. These shows [...]