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Law Office of Gordon Mosley
A Bankruptcy & Consumer law Firm
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December 2016 Archives

Company in Chapter 11 seeks to liquidate in lieu of court

Texas businesses that run into financial trouble will often consider filing for bankruptcy to get debt relief. Knowing which form of bankruptcy to choose from the several alternatives depends on the individual circumstances. A business bankruptcy has options just like a personal filing does. Filing for Chapter 11 bankruptcy can help those who are in business debt move forward with their lives. When filing for Chapter 11, it is imperative to know the pros and cons about the process.

Can Chapter 13 be modified after it has been confirmed?

When a Texan decides that filing for Chapter 13 is the best possible option to secure debt relief and have manageable payments, it does not necessarily mean that the agreement is set in stone and cannot be changed. While Chapter 13 is a strategy that will give the debtor a certain amount of time to pay back what is owed under a repayment plan, it can be modified. There could be many reasons why a debtor would like to have the plan altered and it is important to know when and why this might be done.

Oil and gas company files for Chapter 7 for businesses

Struggles for the oil and gas industry in Texas and throughout the world has led to a growing number of companies and individuals in financial turmoil. With that comes the inevitable decisions that have to be made as to whether or not bankruptcy is the right option to try and get into a better financial situation. But it is not just bankruptcy that has to be decided upon. The type of bankruptcy that is the best option and most applicable to the situation might be in question. Making the decision that a Chapter 7 bankruptcy is the preferable option often requires legal help. After the decision is made, it is assured that legal assistance is required for a solid outcome and getting beyond financial challenges.

Chapter 7 discharge, debt reaffirmation and their effects

For Texans who are experiencing financial challenges and seeking debt relief, a bankruptcy under Chapter 7 is a useful alternative to help them move on with their lives. There are, however, numerous aspects to filing for Chapter 7 that must be understood. Knowing what a Chapter 7 discharge is, the possible effects, and the effects of a debt reaffirmation are some of the issues that need to be considered.

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Law Office of Gordon Mosley

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