Foreclosure Postings Top Record In DFW
June 19, 2009
In Tarrant County, foreclosure postings for July sale topped 2,000. Dallas County has 2,579 homes threatened with foreclosure.
Addison-based Foreclosure Listing Service (FLS) says that lenders reposting homes that had been previously posted but not sold at auction.
Postings are up over 60 percent in Tarrant, Collin and Denton counties over last July’s number. Dallas County’s number grew at just 56 percent, according to FLS.
Homeowners facing foreclosure have some options that can stop the sale at auction. Filing Chapter 13 bankruptcy stops proceedings on a foreclosure and can allow homeowners to repay back payments over a 3 to 5 year period.
What to Expect at Your First Bankruptcy Consultation
June 16, 2009
Wondering what to expect when you meet with a Financial Advisor at Higgins and Associates? The following video describes the process for clients who are thinking of filing bankruptcy:
Considering Bankruptcy? You Are Not Alone
June 12, 2009
Have your bills become too much of a burden on you and your family? Are you struggling to make ends meet? You aren’t alone. A recent blog post about statistics from U.S. Bankruptcy Courts shows that the number of filings continues to rise.
Bankruptcy protections can clear your unsecured debt and help you to stop foreclosure on your home. If you are having financial difficultuies, contact us for a free consultation. We will review your situation and explain the benefits of Chapter 7 or Chapter 13 bankruptcy.
Medical Bills Caused More Than Half Of Bankruptcies Filed In 2007
June 4, 2009
A report set to be published in the American Journal of Medicine in August, but already online, shows that more than 60 percent of personal bankruptcies filed in 2007 could be attributed to medical bills.
The study also says that over 75 percent of those who filed for bankruptcy because of medical bills had health insurance when they became ill.
One of the author’s of the report, Associate Professor of Medicine at Harvard University Dr. Steffie Woolhandler, said that large co-pays, prescription drug costs and high deductibles were among the factors that contributed to driving those with health insurance into bankruptcy court.
The study reiterates what most bankruptcy experts have been saying for years. Most American families are one medical crisis away from bankruptcy.
Corporate Bankruptcies Still Dominate The News
May 28, 2009
With stories about Chrysler’s trek through bankruptcy court and GM’s inevitable bankruptcy filing, it seems like corporate bankruptcy has dominated the news.
Now auto-parts supplier Visteon has filed for Chapter 11 bankruptcy in a Delaware court, just one month after its British unit filed a separate case in Great Britain and closed three plants.
That isn’t all that suprising considering the dramatic fall in car sales. One suprise is the fashion house Christian Lecroix is seeking bankruptcy protection in French court.
It makes me wonder if the financial problems that the people who work for these companies is getting the same attention that the businesses get. How many of their employees will have to file bankruptcy after they lose their jobs or health insurance? How many retirees will have to file bankruptcy to protect their homes from creditors after their pension benefits take a hit?
Finding A Fort Worth Bankruptcy Attorney
May 19, 2009
Knowing where to turn when you are facing financial difficulty can be tricky. It can be embarassing to admit that you need help with your financial problems.
I encourage you to do some research and find a bankruptcy attorney that is attentive to your needs. Look online for information about bankruptcy. One good resource is BankruptcyHome.com.
A professional, qualified Fort Worth bankrutpcy attorney will not judge you for your past behavior. A Fort Worth bankruptcy lawyer will help you use the protections afforded to you under bankruptcy law to protect your assets for you and your family.
Getting out of debt isn’t easy, but with the help of a good Fort Worth bankruptcy attorney you can find a way to get out of debt and even protect your home from foreclosure.
Parks And Hulen Malls Owner Files For Bankruptcy
April 16, 2009
General Growth Properties, owner of The Parks Mall in Arlington and Hulen Mall in Fort Worth, filed for Chapter 11 bankruptcy protection this morning.
The Chicago-based company, which is the second largest mall operator in the United States behind only Simon Properties, filed its petition in Manhattan bankruptcy court.
Thomas H. Nolan Jr., the company’s president, said in a statement that the bankruptcy filing includes all of the malls that it owns across the country, and that they will continue to operate normally.
“Our operational model is sound,” Nolan said. He went on to cite “the unprecedented disruption in the real estate financing markets and the need to extend maturing debt” as the reason for the bankruptcy filing.
Is Chapter 7 Bankruptcy Right for Me?
March 17, 2009
If you live in Dallas/Fort Worth and you are considering filing for Chapter 7 bankruptcy it is important to understand if you meet the federal guidelines outlined in the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005.
Current bankruptcy law will let a person file Chapter 7 bankruptcy if they have an income below the current household average income for a similar size family in the stat in which they reside. Failure to meet the income limits will force you to meet other criteria or means tests. Failure to meet these requirements may force you into other types of bankruptcy , such as Chapter 13 bankruptcy.
To get legal advice about the bankruptcy process in the Dallas/Fort Worth area it may be a good idea to talk to a bankruptcy attorney. An experienced bankruptcy attorney will determine if your income is below the median income for Texas as determined by the Internal Revenue Service.
If your median income is higher, you might still be eligible for Chapter 7 bankruptcy. If you are considering filing for Chapter 7 bankruptcy you may want to talk to a Fort Worth bankruptcy lawyer who will be able to outline any other exemptions and other criterion allowed for filing for Chapter 7 bankruptcy under the current federal bankruptcy laws.
Bankruptcy is an important financial decision. Fortunately, you do not have to do this alone. If you are facing a financial crisis, are harassed by creditors or if the banks or mortgages companies are threatening home foreclosure, you do have options. Let a Dallas/Fort Worth bankruptcy attorney help you determine if filing for either Chapter 7 bankruptcy or Chapter 13 bankruptcy may be a sound financial decision for your family.
Bankruptcy is a serious financial decision and can have serious financial consequences for your family. It is not a financial decision that should be made lightly or with out the sound legal advice of a qualified bankruptcy attorney. Contact a Dallas/Fort Worth bankruptcy lawyer today and see if bankruptcy is right for you or your family.
Unemployment Up In Tarrant County
March 9, 2009
A report in the Fort Worth Star-Telegram last Friday said that Tarrant County lost 16,400 non-farm payroll jobs last in January, rocketing the area’s unemployment rate to 7.1 percent.
The jump in jobless numbers, up from 5.7 in December and 2.5 points higher than the January 2008 rate of 4.6 percent, are responsible for higher delinquency rates for homeowners, according to a study released by the Mortgage Bankers Association.
Jay Brinkmann, MBA’s chief economist and senior vice president for research and economics, said in the report that while California, Florida, Nevada, Arizona and Michigan continue to dominate the delinquency numbers, the sharpest increases in loans 90 days or more delinquent in the last quarter of 2008 were in Louisiana, New York, Georgia, Texas and Mississippi.
He sighted the growing numbers in those states as “signs of the spreading impact of the recession.”
Even though the area has been less affected by the economic downturn, a report on bankruptcy filings in Texas Northern District Bankruptcy Court showed that its case filings were up 4 percent in 2008.
The rising unemployment numbers also don’t bode well for the area which, while not unaffected by the economic crisis, hasn’t seen as quite as many layoffs in the downturn as some parts of the country.
Some of the area’s largest employers, like American Airlines and General Motors, may still layoff more workers as the economic downturn cuts into the companies’ bottom lines.
Newsweek Article: Resolve To Go Bankrupt In 2009
January 5, 2009
A Newsweek article published in the January 12, 2009 issue and available online tells readers that bankruptcy is something that more people should consider.
The article explains why most people facing large consumer or medical debts should file bankruptcy before tapping into retirement savings or their children’s education savings, which are largely protected in bankruptcy.
The article advises everyone to evaluate their own financial situation and make the decision that is best for themselves. Consulting an experienced bankruptcy attorney is an important step.
A qualified bankruptcy attorney can explain how Chapter 7 bankruptcy can clear your unsecured debt, or how Chapter 13 bankruptcy can help you catch up on past due mortgage payments so you can stop foreclosure on your home.