Bankruptcy Exemptions in Texas - I

Federal law sets forth a list of exemptions to be used in bankruptcy, called the federal bankruptcy exemptions. In Texas, you can declare either Federal or State exemptions but you can't declare both, this infographic explains the Federal exemptions. 

  

For helping you get a better understanding of Bankruptcy, we have setup a Bankruptcy Information Center at our website.

Wish to embed this infographic in your posts, please use the embed code below

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Protect Your Computer from Malware

Malware is the no.1 cause of internet frauds and scams and directly affects the finances of tons of families.

Would it surprise you to learn that millions of computers in the US are infected with malware? And that could also be one of yours.

Malware, short for malicious software, includes viruses and spyware that get installed on your computer or mobile device without you knowing it. Criminals use malware to steal personal information and commit fraud. For example, they may use malware to steal the login information for your online accounts or to hijack your computer and use it to send spam. An infected computer can lead to serious problems, like identity theft.

Look at the video below to learn more about how to avoid, detect, and get rid of malware. Avoiding and getting rid of malware is a big step towards taking care of your finances.

Source: http://www.onguardonline.gov/media/video-0056-protect-your-computer-malware

CHAPTER 7 vs. CHAPTER 13

Want to know the difference between Chapter 7 and Chapter 13? Here is an infographic to help you understand it in a simple manner. Please feel free to share it and leave your feedback and comments below. 

For helping you get a better understanding of Bankruptcy, we have setup a Bankruptcy Information Center at our website.

Wish to embed this infographic in your posts, please use the embed code below

<iframe width="800" height="3412" frameborder="0" style="overflow-y:hidden;" src="https://magic.piktochart.com/embed/634341-hipster"></iframe>

Do I Qualify To File Bankruptcy?

Potential clients often call and ask, "Do I qualify to file bankruptcy?"

What they really want to know is what type of bankruptcy they qualify for to file.  While the recommendation of what type of bankruptcy, if any, can only be made by a licensed  attorney, the illustration below may be helpful.

If you have questions bankruptcy or maybe considering bankruptcy contact San Antonio Bankruptcy Attorney Gerald C. Moton www.bankruptcyattorneytx.com or 210-841-5728

Where Employer Credit Checks Are Outlawed

Eight states have outlawed employer credit checks. Federal legislation to stop the practice is pending but has a slim chance of passing.

San Antonio Bankruptcy Attorney, Gerald Moton worries these types of checks place an unfair burden on workers.  

Employment and Credit Checks

There are many ways reasons workers are turned down for jobs.  However some applicants may be surprised to learn they can be denied for a job because of something on their credit reports. Employers have begun to use credit checks to exclude people putting in applications.

Employers allowed to keep people from jobs by prying into their financial affairs. They can bar workers from employment in all but 8 states. For job seekers, this means that bad credit or a recent bankruptcy could prove to be a formidable roadblock in securing employment.

San Antonio Bankruptcy Attorney, Gerald Moton, considers this use of consumer credit information unfair.

"It is important that these credit reports in the employment process not be used to obstruct the efforts of individuals to better themselves and move on with their lives through use of the constitutionally sanctioned bankruptcy process,” said Mr. Moton.

It is estimated, if used across the board, this practice would disproportionately affect the unemployed, people of color, elderly and the 47% of Americans who have trouble paying their medical bills, according to Demos.org.  The consumer advocacy group and other like it are pushing back against this trend, and in a published report said, “employment credit checks illegitimately obstruct access to jobs”.


However, arguments have been made by some human resource professionals that the credit checks are not used that often. Advocates also argue the checks are only used for some jobs, and that they do not play a key role in decision making for employers.

Earlier this year, Rep. Steve Cohen [D-TN] introduced legislation to stop this practice nationally, but govwatch.us, a legislative tracking tool, has the odds of bill passing committee at just three-percent. 

An Abbreviated History of Bankruptcy Law, Part. I


After the article by Charles Jordan Tabb

     Bankruptcy has come a long way since its inception.  What begun as a device with its origins in allowing creditors freedom to take what is theirs at any cost, including that of a life, has transformed into an instrument that allows people unshackle themselves from their debts.

     Debtors were viewed as quasi-criminals by the earliest bankruptcy laws.  In 1542 King Henry VIII passed the first bankruptcy law in England.  What this law did, once the details were filled in by the reign of Queen Elizabeth I, was create a legal device by which debtors who did not pay, could have their assets taken away from them.  One could even lose an ear or a life for being in debt.  Others were thrown into debtors prison for becoming bankrupt.  This kind of thought weaved its way though the 17^th century when the British parliament would often act to increase the penalties against noncompliant debtors.

    The US constitution, the basis for the entire US legal system, was drafted in 1787.  Once the US was established as a country, provisions for bankruptcy were more or less left up to the states.  States acted freely in bankruptcy matters for all but 16 of the first 109 years after the Constitution was ratified.  These laws often left things to be desired.

   Progressively, the laws changed.  People began to be allowed to renegotiate their debts. The Bankruptcy Act of 1867 allowed corporations to take advantage of bankruptcy proceedings.  The railroads when down and out were brought back to life through being able to file for bankruptcy.  Perhaps most significantly, during the New Deal, the Supreme Court affirmed that bankruptcy "gives to the honest but unfortunate debtor…a new opportunity in life and a clear field for future effort, unhampered by the pressure and discouragement of preexisting debt."  The United States was able to transform bankruptcy, which at its outset was an oppressive institution, into a helpful tool.

   If you would like more information on bankruptcy or have questions for Gerald Moton please contact our office or call 210-841-5728.