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7 Ways You Can Improve Your Credit Rating After Bankruptcy

Bankruptcy will of course, have a negative impact on your credit score. Though it’s important to realise that the negative impact will be less than letting your debts build up to a critical stage where you are dealing with debt collectors. It’s often best to accept that you are out of your depth and make a fresh start with a Chapter 7 or Chapter 13 bankruptcy.

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Important Announcement: Schachter Law Firm purchased by Kemsley Law Firm PLLC

The Schachter Law Firm is pleased to announce that we have been purchased by Kemsley Law Firm, PLLC. Attorneys Rod Kemsley and Adam Schachter will be joining forces to enable us to bring even greater levels of experience and value to our clients. We look forward to continuing to grow and flourish in the future and provide a depth of service and support beyond that which is possible as sole practitioners.

Government Increases Filing Fees for Bankruptcy: June 2014

- The Judicial Conference has approved the following fee increases effective as of June 1, 2014.


- Fees for filing a chapter 7 case will increase from $306.00 to $335.00.


- Fees for filing a chapter 13 case will increase from $281.00 to $310.00


- Fees for filing an adversary proceeding will increase to $350.00 (Debtors are not charged filing fees for adversary proceedings).


- Fees for filing a Chapter 11 case will increase to $1,717.00.


Can Financial Stress Make You Ill?

This is the first in a series of joint articles by Adam Schachter (Houston Bankruptcy Lawyer) and David Bueno Martin (Counselor in Houston).


Adam: I think financial stress could cause illness. Most forms of stress have a negative impact on the psyche and the body. Financial stress is more insidious than other types of stress for a couple of reasons that we outline below.


The DOs and DONT's of Debt Settlement

The 'Do's'

1. Stay in regular communication with the creditor or collector.

2. Take detailed notes of everything you do regarding trying to settle, especially notes of phone calls.

3. Mail everything via certified mail, return receipt requested, and keep the green card receipt.

4. Become acquainted with your rights under the Texas and Federal Fair Debt Collection Practices Acts.

Debt Settlement: Interchangeability of Terms

In the world of the financially distressed, a lot of terms get thrown around that may mean different things depending on who is using the term. Those terms are debt settlement, debt negotiation, debt consolidation and credit counseling.


Unfortunately, there is no universally accepted definition for any of those terms. When seeking a professional to help you get out of debt, be careful when you throw these terms around. What matters is what that professional intends to do for you and how he or she intends to go about it.

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