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There are laws in place to protect debtors. In the State of Texas, there are strict statutes of limitations for pursuing or collecting a debt. While the Federal Debt Collection Practices Act (FDCPA) was established by federal lawmakers to protect debtors, the Texas Debt Collection Act is Texas’ version of the FDCPA. The state law...

Most states limit the amount that a creditor can garnish from your paycheck for delinquent debts. Texas laws that limit the amount that a creditor can take from your wages to pay your debts are much stricter than the federal laws regarding wage garnishment also known as wage attachments. Based on Texas law, a creditor...

Written by Julianne Parker, Bankruptcy Attorney The Biggest Business Bankruptcies in 2018 Brick and mortar stores are facing tough times in trying to compete with online retailers.  Here’s a look back at some of these retailers who filed for bankruptcy in 2018. Sears – Sears Holdings (owner of Sears and Kmart) filed for bankruptcy and...

If you are facing financial difficulties, bankruptcy might be the best way to gain control of the situation. Because of the 2005 Bankruptcy Act, anyone who is filing bankruptcy must participate in credit counseling no earlier than six months before filing for bankruptcy and then complete a financial management instructional course after having filed bankruptcy....

Personal bankruptcies peaked during the Great Recession and have been on the decline year after year as the economy continues to improve. While Texas has one of the lowest rates of personal bankruptcy in the country, with approximately 132 filings per 100,000 residents, it is still a fairly common occurrence here when you consider the...

By Bankruptcy Attorney, Julianne Parker on October 10, 2018 A reaffirmation agreement is a contract entered into by a Chapter 7 Debtor whereby the Debtor agrees to be bound by the original terms of the secured debt, as if he/she had never filed for bankruptcy protection. This means that if a car or home is...