Recent Blog Posts

Foreclosure Lull Temporary Say Experts

Houston Bankruptcy Lawyer — Fri, 18 May 2012 04:05:00 GMT

After a lull in foreclosure filings during 2011, initial reports show that market forecasts are starting to come true. Those financial experts who predicted that the foreclosure lull would be temporary appear to be correct as one report published this week shows. According to RealtyTrac, an online publisher that monitors the national housing market, the first quarter of 2012 saw an increase in foreclosure filings. The "Q1 2012 Metropolitan Foreclosure Market Report" showed that out of the nation's 212 metropolitan areas with populations exceeding 200,000, a total of 114 saw increases in foreclosure filings during the first quarter of this year. The top five metropolitan areas that saw increases were Pittsburgh, Indianapolis, Philadelphia, New York and Raleigh.

There was some good news published in the report as well. The top five cities that saw decreases in foreclosure activity were Portland, Las Vegas, Providence, Salt Lake City, and Boston when compared to the same period last year. Do you want to prevent your home from going through foreclosure in Texas? If so, enlist the help of a Houston bankruptcy lawyer from our team by contacting the Malaise Law Firm now. We can inform you of alternatives to foreclosure that may enable you to keep your home.

Dippin' Dots May Be Rescued from Bankruptcy

Houston Bankruptcy Lawyer — Wed, 16 May 2012 14:00:00 GMT

One company has hopes of being rescued from bankruptcy if one important deal goes through. Earlier in 2012, Dippin' Dots announced its bankruptcy plans after years of declining profits. Curt Jones, who designed the unique product, announced that a group of investors in the state of Oklahoma are interested in taking over the assets of the company. This would allow the business to exit bankruptcy protection and still maintain operations as usual. The founder spoke earlier this year about the reasons for the bankruptcy, the primary two being the poor economy and a long legal battle that drained the company's financial resources.

The investors are expected to go before a federal judge in Louisville, Kentucky this month to ask for permission to take over the assets. Jones first came up with the idea for his product when he was freeze-drying frozen yogurt to be used in cattle feed. He tried the same process with ice cream and found a way to package the product to rival fellow ice cream makers. If you intend to move forward with a business bankruptcy filing, make sure you have legal counsel as the process can be daunting. To enlist help from a Houston bankruptcy attorney, contact the Malaise Law Firm today and arrange your initial case evaluation.

Some States Seeing Decrease in Foreclosure Filings and Auctions

Houston Bankruptcy Lawyer — Fri, 11 May 2012 01:30:00 GMT

After tough economic times, some states are noticing a decrease in foreclosures. For example, in the state of Colorado, both foreclosure filing and auctions have decreased during the first four months of 2012 compared to 2011. This information was recently made public by the Colorado Division of Housing, an organization that says Colorado's metropolitan areas experienced a 1% decrease in foreclosure filings in the first quarter of 2012. Last year, there were 8,746 filings and this year there were 8,395.

Colorado Division of Housing also revealed that foreclosure auction sales in the metropolitan areas were down by 29% compared to last year. In 2011, there were 6,177 foreclosure auctions compared to 4,387 this year. The new figures look very promising for the state and show that more homeowners are holding onto their properties. Are you facing foreclosure in the state of Texas? Discuss your options with an experienced Houston bankruptcy lawyer from our office today by contacting the Malaise Law Firm to arrange an initial case evaluation. We can inform you of possible alternatives to foreclosure and will do all that we can to protect your financial best interests.

Stop Creditor Abuse with Help from Our Firm

Houston Bankruptcy Lawyer — Wed, 09 May 2012 19:20:00 GMT

Are you constantly receiving calls from your creditors? Have you asked your creditors and bill collectors to stop calling and/or contacting you only to be ignored? If you find that you are currently in this situation, one of the best things that you can do is to hire a Houston bankruptcy lawyer from our office. Under the Fair Debt Collection Practices Act (FDCPA), creditors cannot continue to call you after you have asked that they stop. If they are persistent and call frequently, it is illegal and should be dealt with immediately as it is a form of creditor abuse.

At our law office, we have worked with many victims of creditor harassment. Once we are involved, we will contact your creditors and tell them that they are in violation of the FDCPA. We will also ask them to cease communication with you so you no longer have to deal with menacing calls and letters. If they continue to initiate contact with you, we will seek legal intervention immediately. To learn how we can protect you from further creditor abuse, contact the Malaise Law Firm now!

Las Vegas Developer Forced to File for Chapter 7

Houston Bankruptcy Lawyer — Thu, 03 May 2012 17:40:00 GMT

A well-known Las Vegas developer has been forced to file for Chapter 7 bankruptcy. After years of losses due to a flagging economy, Bill Plise is now seeking bankruptcy protection as a way to tackle at least $100 million in debts. According to the bankruptcy documents filed in a Nevada court last week, Plise is claiming less than $50,000 in assets and between $100 million and $500 million in debts. The developer was doing well financially until he decided to take on a $2 billion project as the economy was going into a recession. During 2007 and 2008 he started working on City Crossing, a development in Henderson that would have included offices, retail and luxury housing.

The project completely floundered in 2008 and ground was never broken for it. Project leaders were forced to claim bankruptcy, having plummeted $192 million into debt. When Plise was accused of having several large unpaid bills, his license was eventually suspended, forcing him even further into debt. Many people have to file for bankruptcy due to today's tough economy. If you are a person facing bankruptcy, contact the Malaise Law Firm today to get help from a Houston bankruptcy lawyer that has vast experience helping people file for Chapter 7 and Chapter 13 in the state of Texas.

Employees Concerned Over American Airlines Bankruptcy

Houston Bankruptcy Lawyer — Thu, 03 May 2012 01:30:00 GMT

News sources say that the employees of a bankrupt airline company are concerned about the future of their employment. Hundreds of workers protested in front of a New York Bankruptcy Court where the case for American Airlines is currently under consideration. The company announced earlier this month that it needed to cut $1.25 billion in employee-related costs in order to successfully emerge from Chapter 11 bankruptcy protection. In order to do this, the company would have to change benefits and work rules, close a maintenance base in Fort Worth, and freeze of pension plans.

So far, the three largest unions that work with the airline have rejected all of these solutions. A union leader spoke with the press recently stating that the company is blaming labor costs for its financial troubles when in fact labor is what keeps the company going. Company attorneys are scheduled this week to ask a judge to throw out the union contracts in order to complete the bankruptcy. If you plan to file for consumer or business bankruptcy in the state of Texas, make sure you have a Houston bankruptcy lawyer on your side that can help you navigate through the process. Contact the Malaise Law Firm today to get immediate legal advice!

Statistics Show Foreclosures Were Declining First Quarter

Houston Bankruptcy Lawyer — Thu, 26 Apr 2012 17:30:00 GMT

According to RealtyTrac, a company that monitors the housing market, foreclosures are on the decline. Figures reported for the first quarter of this year are at their lowest since the housing market fell five years ago. When compared to the first quarter of 2007, the figures for January through March of this year are nearly the same. This is the first time that foreclosures have dipped to levels equivalent to those before the housing market plummeted in 2007. There were just 199,000 properties that received first notices of foreclosure in March, which represents a 17% decrease from March 2007. Although these figures are encouraging, financial experts state that they do not represent a complete overhaul of the housing market.

While foreclosure rates are low right now, there are several states that have long backlogs. These states, including New York, Florida and California, are expected to bring the foreclosure figures back up in the next few months. Finding out that you may lose your home can be devastating. If you find yourself in this situation find out what options you have at your disposal by contacting the Malaise Law Firm to discuss possible solutions with a Houston bankruptcy attorney.

Warren Sapp in the News for Chapter 7 Bankruptcy

Houston Bankruptcy Lawyer — Thu, 26 Apr 2012 00:00:00 GMT

A former professional football player announced his decision to file for bankruptcy last week. Warren Sapp blames a bad construction deal for sending him spiraling into deep debt last year. Although Sapp, who played for the Tampa Bay Buccaneers, is estimated to have made $60 million during his career, most of that money has been spent. At this time, he is blaming the loss of a majority of his money on a building project in Florida. He invested in a project that would have led to the development of several homes in Fort Pierce, an effort that failed when the economy turned sour.

After filing for bankruptcy, Sapp found himself being mocked in the media and he claims to have lost his Super Bowl ring, as well as the ring he won for a National Championship while playing with the University of Miami. Despite the supposed losses, Sapp has never requested assistance in locating the two valuable rings which has led some to speculate that the valuable football assets are not lost. Are you hoping to file for Chapter 7? If so, get immediate help from a Houston bankruptcy lawyer by contacting the Malaise Law Firm today!

Kodak Still Sorting Through Bankruptcy Terms

Houston Bankruptcy Lawyer — Thu, 19 Apr 2012 17:05:00 GMT

One of the oldest photography companies was forced to file for bankruptcy earlier this year. In order to keep the company afloat once the bankruptcy has been finalized, Eastman Kodak Co. is trying to pay off top executives now so that they will stay with the company through the bankruptcy and beyond. The attorneys for Kodak have asked for $13.5 million that will be given out as bonuses to an estimated 300 employees. These executives and other employees are vital to the structure of the company and possess important information that is crucial to keeping Kodak alive. Of those employees that are being asked to stay, 119 are middle managers that would receive a total of $8.5 million.

Good news did come for retirees that depend on Kodak for their benefits. The company will temporarily withdraw its motion to end benefits, and has announced the creation of a committee to oversee Medicare related issues for its retirees. If you are in the midst of bankruptcy and would like to have a legal advocate on your side as you complete the process, contact the Malaise Law Firm today to obtain the services of a Houston bankruptcy lawyer from our team!

Your Life Post Bankruptcy

Houston Bankruptcy Lawyer — Thu, 19 Apr 2012 00:25:00 GMT

Are you considering filing for bankruptcy but are worried about what will happen afterward? Know that there is good news for those people who successfully complete the terms of their bankruptcy. Once someone completes the terms of his bankruptcy, he or she may start to receive offers for credit cards in the mail almost immediately. However, these cards will offer low balances and high interest rates. It may be a good idea to accept one of these cards and keep small balances in order to improve your credit history. While a bankruptcy can erase most of your debts, you will need to work hard at getting your credit score back to where it was before you started to go into debt. Many people find that their credit score improves by 100 points within a year of finishing the terms of their bankruptcy.

Some banks will even allow you to buy a home in as few as two years from the date of your bankruptcy discharge. In some cases, you can purchase a car during your bankruptcy and receive financing as well. Do you want to know what to expect after filing for Chapter 7 bankruptcy? If so, contact the Malaise Law Firm now to seek answers and advice from an experienced Houston bankruptcy lawyer. Don't wait - set up your initial case evaluation now!

Kristin Cavallari's Family Home in Foreclosure

Houston Bankruptcy Lawyer — Thu, 12 Apr 2012 13:10:00 GMT

The family home of a reality TV star went into foreclosure this month. The house, featured on an episode of “The Hills,” was owned by the father and stepmother of Kristin Cavallari. It went up for auction and sold to a bank for $6.1 million. Built in 2009, the home features five bedrooms and six bathrooms. It includes such amenities as wet and dry saunas, solar panels, a private beach and a salt water infinity pool. Cavallari was seen at the home while filming an episode of “The Hills” where she needed to clear her mind after experiencing romantic trouble.

These days, however, the former realty star is engaged to Jay Cutler of the Chicago Bears and is expecting a child. Have you recently learned that you may be in danger of foreclosure? Did your lender serve you with a notice? If so, you have little time to act. Don’t waste any more time, contact the Malaise Law Firm today to set up a case evaluation with a Houston bankruptcy lawyer from our team. We will review your finances and advise you of foreclosure alternatives that may be available to you in the state of Texas.

American Airlines Still Losing Money Despite Chapter 11

Houston Bankruptcy Lawyer — Thu, 12 Apr 2012 02:44:00 GMT

Filing for bankruptcy does not mean that a company will see a decline in its losses. As one airline company has proven, you can continue to hemorrhage money even while under Chapter 11 bankruptcy. The parent company of American Airlines announced losses of $619 million for last month alone. The company filed for bankruptcy last November and has lost $1.76 billion since then. Of that, $663 million is going towards expenses associated with the bankruptcy filing - that amount can be broken down even further to $325 million for reorganization costs. A majority of those costs were incurred by the company rejecting leases on certain aircraft and bond problems.

Although the company is bringing in billions in revenue, that money is being diverted to costs associated with the bankruptcy. Recent figures show that the amount of passengers using the airline has declined by 8.2% when compared to this time last year. Deciding to file for bankruptcy when your business is struggling is never an easy decision, but moving forward may allow you to confront your debt once and for all. To learn about possible bankruptcy benefits, contact the Malaise Law Firm now and set up a time to speak with a Houston bankruptcy lawyer from our office.

Experts Hope Foreclosures will Continue to Decline

Houston Bankruptcy Lawyer — Thu, 05 Apr 2012 16:05:00 GMT

Experts watching the real estate market in Texas have a tentative hope that foreclosures will keep declining. Based on a report released last week, foreclosures declined 22% from the same period last year. Data released by Foreclosure Listing Service Inc. showed a 22% drop when compared to April of last year. This represents the 14th consecutive month for properties in North Texas that have seen a decline in foreclosure filings. When the first four months of this year are compared to the same period last year, there is a noticeable 21% decline.

Based on this trend, it seems as though foreclosures may continue to decline in North Texas. This data is enhanced by a study released by the University of Michigan that states that nationwide risk for foreclosures is at a seven year low. Foreclosure levels are almost equivalent to what they were back in 2005 - the potential for defaults is almost half of what it was during the period between 2006 and 2008. If you are about to lose your home or property due to foreclosure - don't wait to speak with a Houston bankruptcy lawyer from our team. You may have options that can stop foreclosure on your property. To learn more, set up a consultation by contacting the Malaise Law Firm now.

Corporation in Texas Working Hard to Exit Bankruptcy

Houston Bankruptcy Lawyer — Wed, 04 Apr 2012 19:00:00 GMT

Another Texas-based corporation is working hard to exit bankruptcy protection. Its attorneys' latest decision has been to sell off the business' subsidiaries in order to settle just a portion of the debts owed to creditors. The corporation currently owes $31 million to a variety of lenders. Of that, two of its subsidiaries owe $11 million each, debts that are weighing heavily on the parent company. Also listed in the bankruptcy filing, submitted last week in Texas, was $42.8 million in assets. Until a buyer has been found for the subsidiaries, the company's U.S. based operations will keep their doors open. The American portion of the company accounts for one-third of its profits.

Although news of the bankruptcy is now public, company officials are not responding to requests for comments. Among its many creditors the company owes money to two law firms, a fabrication company and a funding group. Other creditors may present themselves as the bankruptcy filing proceeds. If you're on the verge of filing for bankruptcy because your business is struggling in this tough economy, contact the Malaise Law Firm to discuss your options with an experienced Houston bankruptcy lawyer from our team as soon as possible.

Choosing Chapter 7 or Chapter 13

Houston Bankruptcy Lawyer — Thu, 29 Mar 2012 18:15:00 GMT

Individuals that are considering bankruptcy generally file under one of two types: Chapter 7 bankruptcy or Chapter 13 bankruptcy. These types of bankruptcy offer different advantages and each one has certain qualifications that an individual must meet in order to successfully file. Most people prefer to file for Chapter 7 bankruptcy. Under this Chapter, you can have most of your debts erased by showing that you simply cannot afford to pay them off. However, thanks to changes in bankruptcy law in 2005, the government made it more difficult for people to file for Chapter 7 bankruptcy. You must pass the "means test" which will determine whether you are able to make your debt payments before you are considered eligible.

While Chapter 13 bankruptcy allows you to eliminate a smaller portion of debts, it can be used to keep certain assets like a house, car or business. In Chapter 7 bankruptcy you could be forced to sell these items. However, under Chapter 13, you will create a repayment plan to resolve your debt in 3 to 5 years. Not sure which type of consumer bankruptcy is appropriate for your financial situation? Contact the Malaise Law Firm now to discuss your options with a Houston bankruptcy attorney that can provide you with useful advice.