houston bankruptcy court
Military members who are facing bankruptcy in Texas have legal protection
There is no doubt that the amazing men and women in the United Serve States military are the finest our country has to offer. You have made the choice to risk their lives in order to protect every one of us, and we can Never pay back enough. The commitment that the members of our armed forces asked to have even more clearly in the wake of the attacks of 11 September. We now have Service members who return to the other side of the world for a year or more will be sent at a time, at home for a few months, and then do it again. are away with many of our military troops in Afghanistan, Iraq and other bases around the world, military families left to struggle at home to the Bills in to pay the middle of these difficult economic recession. The unfortunate result is that federal bankruptcy filings rise by members of the armed forces to be, so an additional burden to already strained relations.
Across the country, and especially here in Texas, the citizens have seen an increase in bankruptcy filings Every year during this recent economic crisis. According to the American Bankruptcy Institute, consumers filed 675, 351 bankruptcy filings in the first half of this year, which is up 36.5% over the same period last year. The same organization estimates that a total of 1.4 million new bankruptcy filings by the end of the year, be a substantial increase would be filed over 1.06 million in 2008 and 801,840 cases in 2007.
The people of Texas are better than the country as A whole would, but there are still many of our Texans who suffer. In the twelve-month period to 30th Ended June 2009, there were almost 50,000 cases of bankruptcy filings in the Lone Star State. The Southern District of Texas, Houston, which includes experience the only region of the state was a decline in filings last year. However, even this region of Texas, the number of insolvencies see acceleration in the course of the year.
What do these figures mean frightening for our military servicemen and women? In Texas alone there are nearly 200,000 military personnel representing all branches of the armed forces. By Randolph Air Force Base in San Antonio to Fort Hood to Corpus Christi Naval Air Station, service members and their families are operating on the income, certainly less than they deserve and often about going in the next month, the bills concerned are to be paid. Of course, the financial situation is particularly tense, when children are involved. With a parent abroad, it is decided that between the survivors to a military income or the payment of the cost of full-time day care and must be returned for an additional content . Work
Just look at the latest statistics homeowner foreclosure provides an important indicator regarding the cash crunch that soldiers are facing. The Number of households in foreclosure in the United States rose by 59 percent in the first quarter of 2008, when it compares with the previous year. Foreclosures during the same period in the cities in the vicinity of military bases, an average of 217 percent. Our men and women in uniform are undoubtedly experience a disproportionate amount economic hardship. Fortunately, there are some protections in place for the members of our military who have to face these difficult decisions.
The most important piece of federal legislation that works to save the power of our military personnel, the Servicemembers Civil Relief Act is (SCRA). The SCRA prevents the filing of an appeal by a failure of creditors requires that notice be given to a military member of his accounts, and can wipe out Judgments and garnishments against any service. These protections often help the bankruptcy petition unnecessary for members of the military, or at least Reduce bankruptcy as an attractive option. And, the SCRA covers for each, a co-signer of the bonds or shares of a military member who helps certainly the family members who are making financial sacrifices, is at home. To qualify for the protection offered by SCRA, and staff need their services significantly impaired their ability to show pay the bills. For most young families recruited such an examination will not be difficult.
Texas also provides creditor protection for those who serve in the military, as in MISC 10, 1035, 46 Dinkel, 1111, 38 and 562 of the Texas Bankruptcy Code. This law states that, if a debtor deployed active duty to serve in the military and abroad, his or her military deposits in savings accounts are exempt from seizure. As at the federal level by the SCRA, Texas Bankruptcy Law enforcement states that U.S. courts can judge if the solvency is directly affected by stop military service. This Exemption is usually in place by the length of military service plus three months of the debtor. If the immediate need, the creditors must be paid is removed, then some of the pressure on creditors file hopefully mitigated. It seems that the U.S. government's financial burden that is placed on the rewards of our military families and has these steps to at least some measure of relief.
About the Author
Tony R. Bertolino is the managing partner at Bertolino LLP with law offices located in Austin, Houston and San Antonio, Texas. A member of the Trial and Appellate Litigation Team, Mr. Bertolino’s practice is devoted largely to complex transactions, commercial litigation, business law, entertainment law and family law matters. You can read more about Mr. Bertolino at www.belolaw.com
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