Ted Machi can help you understand where you may qualify, either Chapter 7 or 13.  We can help you to understand which direction to take by explaining the possible outcomes based upon our experience filing thousands of bankruptcies. If you have stable future monthly income, it may make more sense to go ahead with the Chapter 13 and arrange payments to keep some of your assets. This also may depend on the market value of your assets. Homes are usually the main asset in a bankruptcy, gages on your home, and have a solid income, Chapter 13 may be something better suited for your needs. With a free consultation we can determine which direction is best for you.

While Chapter 7 is a quicker fresh start, Chapter 13 is a longer process.  The Court sets your payments, you are required to make those payments. Over the term of the Chapter 13, there will be hearings that are very quick and informational.

When you create a Chapter 13 filing, you will divide your items into two areas; secured and unsecured. This is a way for the court to determine your case. Examples of Unsecured debt are credit cards and medical bills, payday loans, re-possessed vehicles, collections agencies, etc. Secured debt includes homes, cars, time shares, boats, etc. These are physical items that can be liquidated for a market value.

Read the full story at the Wall Start Journal.

Prices have risen more than 4% from $2.872 a month ago and are nearly 16% higher than the $2.585 average a year ago, according to the AAA figures.

The cost of gasoline has been climbing steadily since bottoming out at $1.616 in December 2008. However, the average price is down $1.101 — or 26.7% — from the record high of $4.114 reported on July 17, 2008.

“On a national average, we’ve never had Christmas Day with gasoline at three dollars or higher,” said Tom Kloza, chief oil analyst with Oil Price Information Service, an energy trade publication based in Wall, N.J.

The rise in gas prices mirrors a rise in crude oil, which passed the $90 a barrel mark on Wednesday. Oil prices haven’t settled above $90 a barrel since October of 2008.

The spike in crude has been helped along by a weak dollar, and according to some critics, the Fed’s quantitative easing program.

But higher gas prices aren’t going to keep motorists off the road this holiday season, according to Troy Green, a national spokesman for AAA.

He said AAA is sticking with its projection that 85.7 million people will travel by car to their holiday destinations, a 3.2% increase over last year.

Know who you’re dealing with:

• Confirm the online seller’s physical address and phone number before you buy.

Know what you’re buying:

• Read the seller’s description of the product and the fine print.
• Understand the terms and conditions regarding refunds, including who pays the shipping costs, and whether there is a restocking fee.
• Print and save records of your online transactions, including all emails to and from the seller.
• Buy gift cards from known and trusted sources, and avoid online auction sites for gift cards.

Be stingy with your personal information:

• Don’t give out your credit card or other financial information in exchange for a tech toy, a free gift card, a seasonal job, or a holiday vacation rental.
• Don’t email your financial information or click on a link in an email. Legitimate companies don’t ask for your financial information via email or pop-up message.

Check the privacy policy:

• If you can’t find it or it doesn’t make sense, consider taking your business elsewhere, and letting the site know what you think.

Shop around:

• Use the manufacturer and model number of the item to compare prices among merchants. Consider whether shipping is included. If the item is offered for pick-up at a store, consider the cost of parking or public transportation.

Use caution when buying on public WiFi:

• If a hot spot has doesn’t have effective security measures in place, it’s risky to send sensitive information like your credit card number over that network.

Pay by credit or charge card:

• They offer the best consumer protections. If you wire money and there’s a problem, you probably won’t get it back. Buying online using cash equivalents – debit card, personal check, cashier’s check, or money order – can be risky. Use them only if you know the party you’re doing business with.

Free screen savers, e-cards, or other seasonal downloads can carry dangerous viruses:

• Keep your anti-virus and anti-spyware software and your firewall current.

Monitor your financial accounts:

• Read your statements regularly, making sure they reflect the charges you authorized.

Some of the mailers claimed that they were affiliated with a government agency, such as the “State of Illinois Commissioners of Regulation” and “OFFICE OF THE PRESIDENT OFFICIAL NOTIFICATION,” along with language, symbols, and artwork such as “In God We Trust” and a bald eagle.

The mailers stated that, in order to collect the prize, the consumer had to send a $20 “processing fee” by a certain deadline. Instead of receiving a prize, however, some consumers received information about entering a sweepstakes. The mailers did not clearly inform consumers that they had not won any prize.

Read more on this article.

Non-judicial foreclosure auctions are conducted on the first Tuesday of each month between the hours of 10:00 a.m. and 4:00 p.m. at the courthouse of the county in which the property is located. Notices must specify a three hour period during which the sale will take place.

A “Notice of Default and Intent to Accelerate” which gives the borrower  an opportunity to cure the default (at least 20 prior). A “Notice of Acceleration and Posting for Foreclosure” must be given at least 21 days before the sale date.  “Acceleration” is defined as the declaration by the lender that the entire amount of the mortgage now fully due and payable.

There are many legal requirements the mortgage holder must meet to foreclose on a property, but in Texas, a judge is not always involved and the responsibility to protect the borrower’s rights may be that of the borrower.

The foreclosure process in Texas can be as quick as 41 days and there are no effective defenses to this process except for the borrower to block it with a temporary restraining order or file bankruptcy. For either option, the buyer needs an attorney.

If you are facing a potential foreclosure or have received an “Notice of Default and Intent to Accelerate,”  you should act quickly.  It is much easier to stop a foreclosure before it occurs than to get a remedy after the foreclosure is complete.  If the property is sold to a third party there is little chance that the borrower will get the property back.  If you are facing foreclosure, it is important to contact a wrongful foreclosure attorney as soon as possible.

Dealers, employees, and their families face tough financial futures when local businesses fail.  If their debts pile up, personal bankruptcy may follow.

Individuals facing personal bankruptcy turn to Irving bankruptcy lawyers, Dallas bankrutpcy attorneys, or law firms in Arlington and Fort Worth.