Interesting Things Blog Legal Bankruptcy attorney Houston, TX and chapter 13 best advices

Bankruptcy attorney Houston, TX and chapter 13 best advices

Chapter 13 guides from bankruptcy attorney Houston, Texas today: Once you have been served, that triggers the deadline to file an answer, a written response to the lawsuit that gets filed with the court. If the lawsuit is filed in a justice of the peace court, the answer deadline is calculated by adding ten days to the day you were served and going to the next Monday after those ten days. If the lawsuit was filed in county court or district court, the answer deadline is calculated by adding twenty days to the day you were served and going to the next Monday after those twenty days. Failing to timely file an answer may result in a loss of possible defenses in the lawsuit and/or a judgment being entered against you.

What’s the Difference Between Chapter 7 and Chapter 13 Bankruptcy? Chapter 7 and Chapter 13 are the two common types of bankruptcy that affect consumers. Either could help when you don’t have the means to pay all your bills, but there are important differences between the two. A Chapter 7 bankruptcy can wipe out certain debts within several months, but a court-appointed trustee can sell your nonexempt property to pay your creditors. You also must have a low income to qualify.

As a bankruptcy lawyer in Houston, I primarily help people and companies file Chapter 7 bankruptcy and Chapter 13 bankruptcy. I also help both individuals and companies resolve other debt issues. I have been practicing as a Chapter 7 lawyer in Houston and as a Chapter 13 lawyer in Houston for over 5 years. I think that customer service should be the number one priority in any business, but it is especially important in the bankruptcy and debt settlement field. When people are struggling financially they may be stressed, nervous and scared about their situation. The prompt returning of telephone calls and e-mails is important so as to help alleviate anxiety. You can also take comfort in knowing that you will be speaking with an attorney every time you call or come in for an appointment. Dove Law Firm, PLLC is a Debt Relief Agency. We help people file for bankruptcy relief under the Bankruptcy Code as well as resolve other debt issues.

Moving expense to take first job: Here’s an interesting dichotomy: Job-hunting expenses incurred while looking for your first job are not deductible, but moving expenses to get to that first job are. And you get this write-off even if you don’t itemize. If you moved more than 50 miles, you can deduct 23 cents per mile of the cost of getting yourself and your household goods to the new area, (plus parking fees and tolls) for driving your own vehicle. However, beginning in 2018, moving expenses are no longer deductible for federal taxes unless you are in the military and the move is due to military orders. Some states such as California continue to provide this tax benefit.

To be eligible to file for Chapter 13 bankruptcy, an individual must have no more than $394,725 in unsecured debt, such as credit card bills or personal loans. They also can have no more than $1,184,200 in secured debts, which includes mortgages and car loans. These figures adjust periodically to reflect changes in the consumer price index. One of Chapter 13 allows you to stop an effort to foreclose on your home. Filing a Chapter 13 petition suspends any current foreclosure proceedings and payment of any other debts owed. This buys time while the court considers the plan, but it does not eliminate the debt. Hopefully, the bankruptcy plan will free enough of your income that you’ll be able to make regular mortgage payments and keep your house. Read additional information on dove bankruptcy law firm.

Harvest Your Capital Losses: If you own stocks that have lost money, you can sell them and deduct up to $3,000 on your federal taxes. Just be careful not to violate the wash-sale rule, which would disallow the deduction. This rule states you cannot purchase the same or a substantially similar stock within 30 days before or after the sale. “Some people think it’s OK if I do it using two accounts,” Zollars says. They may think they can sell a stock from a taxable account and then immediately purchase similar securities in an IRA. However, this is not allowed. “That’s not the way the rule works,” he says.