Arlington Mansfield Dallas Fort Worth Lawyer
You are currently browsing the MachiLaw.com blog archives for July, 2009.
July 28th, 2009
Twenty-five mortgage company executives have pledged to the Obama administration to improve efforts to assist those in danger of foreclosure according to the Associated Press.
The Treasury Department reached a verbal agreement with the mortgage executives for a goal of 500,000 loan modifications by Nov. 1. Treasury Secretary, Timothy Geithner said this is an opportunity to accelerate the program and bring relief faster.
July 24th, 2009
Diana Parsons graduated from the University of Wisconsin and she has still not found a full-time job reports the New York Times. Is this a result of the economy? Actually Ms. Parsons, 21, is jobless by choice. She turned down two jobs because one would require her to relocate and the other required her to work nights.
May college career advisers are noticing that new graduates do not seem to comprehend the economic challenges facing the country was stated in the New York Times). Unemployment is at the highest point in decades and many job recruiters are bypassing university campuses.
“I don’t think the students understand, I really don’t, but come September, October, when they still don’t have jobs, they’re going to be panicky,” said Clarice Wilsey, a career counselor at the University of Oregon. Many students do not understand the impact as they spent most of their college years in a booming economy that went suddenly cold this past year.
July 23rd, 2009
What is a Board Certified Attorney*? A Board Certified Attorney* is one who has demonstrated special competence in a particular field in which the Texas Board of Legal Specialization has certified his competence. If you are searching for a bankruptcy lawyer the Dallas/Fort Worth metroplex. Consider Ted Machi and Associates, P.C. in Arlington or Mansfield.
July 20th, 2009
Bankruptcy can be invasive as you will have to disclose all details of your finances to the court. People in your community could find out you have filed bankruptcy. In a Chapter 7 bankruptcy, you can have property repossessed or taken away. Under a Chapter 13 plan, you might spend several years having to ask permission to spend your own money.
July 17th, 2009
If a friend or relative helped you get financing by cosigning a loan agreement, Chapter 13 bankruptcy will protect your cosigner, but under Chapter 7 they will be responsible for any debt you don’t pay.
July 16th, 2009
In most states, you will not lose pensions, retirement accounts, or life insurance in bankruptcy. If you have a pension, a 401(k), an IRA, or life insurance, find out what’s protected in your state.
July 15th, 2009
Bankruptcy is very good at wiping out credit card debt. If your credit card balance is an unsecured debt and the creditor does not have a lien on any of your property and cannot repossess any items if you fail to pay the debt. This is the kind of debt that bankruptcy is designed to removete. Besides credit card debt, you may have other unsecured debts, and bankruptcy can wipe these out as well.
Bankruptcy will not prevent a secured creditor from repossessing property. You will have trouble eliminating some other kinds of debts, including child support, alimony, most tax debts, student loans, and secured debts.
July 14th, 2009
How much property you get to keep depends whether you’ve pledged the property as collateral for a debt, and on the “exemption” laws that are available in your state. If you file for Chapter 7, you might lose your car if you have substantial equity that isn’t protected by your state’s exemption laws.
July 13th, 2009
Bankruptcy won’t relieve you of your obligation to pay your mortgage, but it might make your mortgage easier to pay by getting rid of other debts. If you have substantial equity in your home, you might lose it if you file for Chapter 7, depending on how generous the exemptions laws are that are available to you. If you file for Chapter 13, you can keep your home and pay off any overdue mortgage amounts through your repayment plan.
July 10th, 2009
Bankruptcy is used to wipe out credit card debt. This is the kind of debt that bankruptcy is designed to eliminate. If you file for Chapter 13 rather than Chapter 7, you may have to pay back some portion of your unsecured debts. Any unsecured debts that remain once your repayment plan is complete will be discharged. Bankruptcy can stop creditor harassment during this time.
Bankruptcy may not eliminate some other kinds of debts, including child support, alimony, most tax debts, student loans, and secured debts.
This is Arlington, Texas Web Design is Valid XHTML and Valid CSS.