When individuals file for Chapter 7 bankuptcy, the filing fee is $200 in most cases. If filers are unable to pay the fee in full, they also have the option of paying the fee in installments. 

However, the full amount of the fee must be paid wthin 120 days of the filing, unless filers can receive an extension from the court. If filers do not pay the fee, then the case could be dismissed, and filers will not receive discharges. 

If you or anyone you know has questions about a Chapter 7 bankruptcy filing, contact the Austin Chapter 7 bankruptcy lawyers of Slate, Kennon, & James, LLP, at 512-338-1100. 

Bosque Power Co., LLC, filed for Chapter 11 bankruptcy protection last week. According to reports from a Texas bankruptcy court, the filing for the U.S. electricity generator included assets and debt between $100 million and $500 million. 

Bosque Power borrowed more than $400 million in January, 2008, and its senior debt was downgraded by Standard & Poor earlier this month. The bankruptcy filing was made in the U.S. Bankruptcy Court in the Western District of Texas. 

If your company is considering filing for Chapter 11, contact the Austin Chapter 11 bankruptcy lawyers of Slater Kennon LLP, at 512-338-1100.

Bosque Power Co. filed for bankruptcy Wednesday. According to court reports, the U.S. electricity generator made the filing in a Texas bankruptcy court. 

The bankruptcy filing was largely a result of debt that resulted from a 2008 borrowing. Through bankruptcy proceedings, the company will attempt to restructure its debt. 

If your company is considering a Chapter 11 filing, contact the Austin Chapter 11 bankruptcy lawyers of Slater Kennon LLP, at 512-338-1100.

As the baby boomer generation begins to enter retirement and old age, the percentage of IRAs handed down to children is expected to increase. The question posed by creditors and heirs alike is: If an individual inherits an IRA from a parent and later goes bankrupt, can creditors seize the inherited IRA to apply its funds towards the debt owed?

A person's own IRA is protected under bankruptcy law, because this is money that has been saved for retirement. An IRA inherited from someone other than a spouse, however, is typically not protected by bankruptcy law and can be seized by creditors. A recent ruling in Minnesota suggests that bankruptcy protections may be extended to IRAs inherited from parents. A federal judge ruled that a woman who filed for bankruptcy has the right to keep a $63,000 IRA that her father left to her.

This change in the law may allow individuals to file for bankruptcy without putting assets such as IRAs at risk, even if the IRA was not originally their own.

If you are considering filing for bankruptcy and have questions regarding bankruptcy law, contact the Austin personal bankruptcy attorneys of Slater Kennon LLP, today at 512-338-1100.

One of the advantages of filing for bankruptcy is a debt discharge. However, this debt discharge can be revoked under certain circumstances. 

In some cases, the discharge can be revoked if the trustee or creditor belives that the debtor obtained the discharge fradulently. To revoke a dishcarge, it must be filed within one year of granting the discharge. Ultimately, it is up to the bankruptcy court to decide. 

If you or anyone you know has questions about a bankruptcy discharge, contact the Austin bankruptcy attorneys of Slater Kennon LLP, at 512-338-1100. 

When individuals file for bankruptcy, they often receive a number of protections. One of these protections is that the electric company cannot cut off the filers' public utilities. 

This protection, however, typically does not mean that filers will never pay for these utilities. Instead, they may be required to pay after the bankruptcy filing if the utility requires a deposit for future services. 

If you or anyone you know has questions about a bankruptcy filing, contact the Austin personal bankruptcy lawyers of Slater Kennon LLP, at 512-338-1100.

Many bankruptcy filers worry that filing for bankruptcy will negatively impact their co-signers. The impact of a filing on co-signers oftne depends on the type of bankruptcy filing. 

In a Chapter 7 bankruptcy, creditors are often able to collect against co-signers. In Chapter 13 bankruptcy, however, the co-signers may be protected in certain circumstances. For instance, they are often protected if the debt is a consumer debt and the co-signer does not benefit from the debt's proceeds. 

If you or anyone you know has questions about a bankruptcy filing, contact the Austin bankruptcy lawyers of Slater Kennon LLP, at 512-338-1100.