Page Law Firm

Free consultation for consumer bankruptcy clients

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Proudly serving Frisco, Texas and surrounding areas
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Giving My Own Thanks During This Holiday SeasonIn my previous blog, I discussed the reasons that people in the U.S. can be thankful for our bankruptcy laws and the many attorneys and other professionals who help them through the process. As an attorney who practices in the areas of bankruptcy and family law, I have much to be thankful for myself. The Page Law Firm would not be what it is today – a source of legal solutions for people going through difficult situations –  without my many clients, colleagues, friends, and family members. In keeping with the spirit of the season, I would like to share what I am thankful for:

  • I am thankful for my clients who trust me to guide them through their financial difficulties and towards a better future. I know how crucial it is that you get the relief you need from the bankruptcy process.
  • I am thankful for my clients who trust me to help them make decisions about their marriages and children. I know first hand how those decisions impact today and the years to come.
  •  I am thankful to those same clients who refer me to their friends and family, allowing me to help them as well.
  • I am thankful for the laughter we share and the tears we shed throughout the process. The personal connections I form with you are one of the most rewarding parts of my job.
  •  I am thankful for my fellow lawyers who refer clients to me or contact me when they have questions. I am always happy to give answers and am grateful that you think of me when your clients need help.
  •  I am thankful for my friends who have referred their friends to me, putting their trust in me and helping me grow my practice.
  •  I am thankful for my family, who continues to support me on this journey called The Page Law Firm.

Help Is Here for Those in Need

Whether you are struggling to keep creditors at bay or have decided to divorce, you should know that you will not be alone in facing your challenge. At The Page Law Firm, we advise clients on whether filing for bankruptcy is the right solution for their debt problems and, if the answer is “yes,” guide them through the completion of the process. For those seeking a divorce, we provide compassionate legal support for sensitive issues such as child custody and try to create an amicable process whenever possible. To schedule a free consultation with a Frisco, Texas, bankruptcy and divorce lawyer at The Page Law Firm, call 214-618-2101 today.

Using Exemptions to Protect Your Assets During BankruptcyPeople who file for bankruptcy have several exemptions at their disposal to protect their properties from seizure by creditors. Texas residents can use either the federal property exemptions or the Texas property exemptions, but not both. Many residents choose the Texas exemptions because they are considered more favorable. With Texas’ property exemptions, bankruptcy filers may be able to keep valuable assets, such as their homes and vehicles.

Homestead

Texas’ Homestead Exemption provides broad protection for the primary residence of a person filing for bankruptcy. A home of any value may qualify, as long as the property is:

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Why You Should Talk to a Bankruptcy Lawyer

Collin County bankruptcy attorneyI recently read an article on forbes.com about bankruptcy, and it has been niggling in the back of my mind ever since. The author is not a bankruptcy lawyer, but there he is on the Internet pontificating about the three most important things you need to know about filing for bankruptcy.

He noted that bankruptcy isn’t free, saying that this is a “surprise” to many people. I’m not sure why anyone would have an expectation that filing for bankruptcy would be free. People don’t go to the store and expect to get their groceries for the week for free. They don’t go to the hospital for surgery and expect the surgeon and the hospital to thank them for coming in and provide services for free.

The article goes on to say that most lawyers charge by the hour. While this is true for many lawyers, it is not necessarily the case for consumer bankruptcy lawyers. Most charge a flat fee, which is typically a small percentage of the debts that are discharged and the assets that are protected. Furthermore, unlike other areas of the law, there is oversight of the fees that bankruptcy lawyers charge, because those fees are disclosed as part of the bankruptcy filing (in two different places) and must comply with the local rules of the bankruptcy court.

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Collin County bankruptcy lawyerBefore a debtor can file for bankruptcy, they must complete a pre-bankruptcy credit counseling session with an approved provider. Sadly, most simply see this as a part of the process when, in fact, it is a prime opportunity. In fact, for some, the pre-bankruptcy counseling session could be exactly what is needed to avoid filing for bankruptcy. However, even when that is not the case, debtors stand to learn a lot about their financial future. Learn more about how to make the most out of your pre-bankruptcy credit counseling session, and discover how an experienced attorney can assist you with the bankruptcy process.

What Happens During Pre-Bankruptcy Credit Counseling?

Although pre-bankruptcy credit counseling sessions may vary slightly in their curriculum, all include an analysis of your current financial situation, a discussion on what alternatives may be available to you, and a personal budget plan. Debtors may be asked to complete these elements of the course over the phone, in person, or online. Once the debtor has completed the course, they should be issued a certificate of completion. (Note that debtors should not be charged an additional fee for their certificate of completion.)

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Should I Be Afraid of the Numbers 3, 4 and 1?

Frisco, Texas bankruptcy 341The short answer…absolutely not!  

So what are those numbers, and what do they mean to a person who has filed for bankruptcy?

341 is actually a section in the Bankruptcy Code (the federal law that covers bankruptcy) and the shorthand term for the first meeting of creditors in a bankruptcy case. Don’t get fooled by the word first. In fact, don’t get fooled by the word creditors either. In a consumer bankruptcy case, there typically is just one meeting, and by and large, the creditors don’t attend these meetings, with the possible exception of a disgruntled former spouse.  

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Posted on in Bankruptcy

Frisco bankruptcy attorney

Before a debtor can file for bankruptcy, they must complete a certified credit counseling course. What is this required course, why do you need it, and how can you make it work to your advantage? The following information explains and provides some important details on how an attorney can assist you through the bankruptcy process.

What is Pre-Bankruptcy Credit Counseling?

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Frisco bankruptcy lawyerOnce you have decided that bankruptcy is the right option for you, you must then decide which type of bankruptcy you would like to file. In some cases, the decision is based on your circumstances. In others, it is a matter of personal preference. Learn more about the types of bankruptcy available to individuals and small businesses, including how to determine which one may be most appropriate for you, with help from the following information.

The Basics: Chapter 7 versus Chapter 13

At first glance, all forms of bankruptcy might appear the same. However, there are some distinct differences between Chapter 7 and Chapter 13. For example, Chapter 7 bankruptcy discharges most forms of secured debt, meaning the debtor is no longer responsible for them. Another major difference is how assets are retained during each bankruptcy process. For example, if a borrower is making payments on a vehicle, the creditor may still repossess the car if a Chapter 7 bankruptcy is filed. In Chapter 13, the debtor may be permitted to keep the vehicle if they continue to make the agreed upon payments.

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National Association of Consumer Bancruptcy Attorneys State Bar of Texas
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