\ May 2018 Archives | Tyler Texas Bankruptcy Law Blog

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Law Office of Gordon Mosley
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May 2018 Archives

Can creditors stop the discharge of debt in a Chapter 7 filing?

When Tyler residents are struggling with overwhelming debt, the law provides an option from them to obtain a truly fresh financial start. Chapter 7 bankruptcy allows debtors to eliminate many debts that are unsecured (i.e., not associated with property like a mortgage or a car loan). We say that the debt is discharged -- that is, it no longer has to be repaid.

Chapter 13 eligibility requirements for Tyler residents

For Tyler residents who earn some form of income but struggle with debt, there is good news. Chapter 13 allows individuals to file for bankruptcy and obtain a fresh financial start while protecting their assets, as long as they can keep current on a court-ordered payment plan that typically lasts up to five years.

Texas laws protecting homeowners amongst strongest in nation

We make efforts here on our Tyler Texas bankruptcy law blog to address the pervasive myth that homeowners will automatically lose their homes if they file for bankruptcy. Especially with Chapter 13, filers can generally keep their homes if they can stay up to date on their repayment plans. Even some Chapter 7 filers may be able to keep their homes, thanks in part to Texas' strong homestead laws.

Iconic American guitar company files for Chapter 11

Among the most iconic brands in pop and rock music is Gibson Guitars. The 114-year-old company makes musical instruments including guitars used by legendary musicians that many Tyler residents instantly recognize, such as Chuck Berry, B.B. King, Jimmy Page, Slash and the Edge, among practically countless others. The company also expanded into consumer audio in recent decades. Today, the company blames that move in part for its decision to file for Chapter 11 bankruptcy.

Did someone violate your mortgage rights?

Becoming a homeowner in Texas may have been one of the most exciting times in your life. Like most other homeowners in your area and throughout the nation, the mortgage agreement you signed may have also become your largest liability. If you chose a 30-year loan, which is typical in most situations, worries about mortgage payments may occasionally interrupt your dreams for building a healthy, happy lifestyle with your family.   

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Law Office of Gordon Mosley

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4411 Old Bullard Rd.
Tyler, TX 75703

Phone: 903-266-1843
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