The Three Classes of Debts

You will be able to understand how bankruptcy works much better once you understand the three main classes of debts. Bankruptcy law does not play favorites with your creditors, except when those creditors are legally different. The most basic way that creditors are...

A Secured Debt: What Is It?

When you are filing for either Chapter 7 or Chapter 13 bankruptcy, it is crucial to know the difference between a secured debt and an unsecured debt. The characterization of your debt can impact the fate of your personal property. Secured Debt Defined A secured debt...

What Is the Debtor Education Requirement in Bankruptcy?

In addition to the “credit counseling” that you must do before you can file a bankruptcy case, after filing the bankruptcy you must also complete “an instructional course concerning personal financial management” in order to get a discharge of your debts. This second...

What You Need to Know about Debt Settlements

A debt settlement is when you agree to pay a creditor less than you owe in one large lump sum. This should be avoided if possible, as it is a bit hit on your credit score. However, if you are falling behind on payments and you feel as if it is the only option next...

Why You Should Avoid Debt Settlement Companies

You hear them on the radio and TV, debt settlement companies claiming they can help you get out of debt and save money by negotiating with credit card companies to lower your interest rate and monthly payments. If it sounds too good to be true it’s because it is. What...

Debt Dictionary

This debt dictionary page was created to define and answer basic questions some of our clients have had in the past. Leinart Law Firm provides legal solutions for debt in the Dallas-Fort Worth area and with more than 15 years of experience, we have the knowledge and...