Herrin Law | Daniel Herrin
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Author: Daniel Herrin

The IRS is scary. They can do more than any other creditor in terms of collections.  They can put liens on your property, including your homestead.  They can garnish your bank account.  They can sell your stuff.  They can close your business and liquidate it. And if you try to call the IRS, you could be on hold for 1 to 2 hours and if you are lucky enough to speak to a representative, they may tell...

If you are in a chapter 13 bankruptcy, then your tax refund is likely the only chance you have at trying to get ahead.  However, the Chapter 13 Trustee will almost always attempt to take your tax refund while in a chapter 13. If you want to keep your tax refund, there are several things that may help. The Trustee’s default position depends on your jurisdiction.  In Dallas and Fort Worth, the Trustee will allow you to keep...

There is not nearly enough being done to help consumers with their student loan debt.  Congress continues to delay the inevitable, and student loan services have very little sympathy for consumers.  They offer very little in terms of workable programs. Sure, they say things like “income based” repayment plans, but these plans very rarely are affordable.  For instance.  I have clients who have credit card debt and pay monthly payments on this debt.  Well, when determining...

Probate is expensive. The costs and time associated with the Probate process have led to many individuals simply forgoing the process altogether, and, consequently, real property is not properly transferred to an individual’s heirs. However, Texas has introduced the Transfer on Death Deed (hereinafter, “T.O.D.D.”), which allows an individual to easily transfer real property to designated Beneficiaries outside of probate. On September 1, 2015, the Texas legislature passed the Texas Real Property Transfer on Death...

An individual issues a hot check (also known as a “Bad Check,” a “NSF Check,” a “Dishonored Check,” or a “Bounced Check”) when they fraudulently write a check despite having knowledge of the fact that they do not have the funds available to cover the check. For example, an individual who issues a check for $500.00 knowing that their bank account only has $250.00, can be charged with an offense for this action. The issue...

Delinquent on your home mortgage payments? You may be in luck. For borrowers whose loans are owned or guaranteed by Fannie Mae or Freddy Mac, the Federal Housing Finance Agency (or FHFA) will soon offer a Principal Reduction Modification Program to borrowers that meet certain eligibility requirements. The program was implemented with the goal to “maximize assistance for homeowners” and “minimize foreclosures.” (See Emergency Economic Stabilization Act of 2008). The modification will be available to “owner-occupant...

Introduction Under Chapter 13 bankruptcy, individuals with regular income are granted the opportunity to develop a repayment plan in order to satisfy all or part of the debts for which Creditors hold claims. A Chapter 13 repayment plan will allow a Debtor to make installments to Creditors over a period of three to five years to satisfy their debts. Some debts under this plan must be paid in full, while others may be paid only in...

There are many reasons why someone might choose to file for bankruptcy; however, two of the most prevalent reasons are (1) a debtor’s need for relief, and (2) a desire to preserve one’s assets. For some people, the reasons might be as sentimental as they are financial, such as trying to hold on to a home with a mortgage the debtor is struggling to pay. While on the other hand, for businesses, filing for bankruptcy...