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Dallas Bankruptcy - Terms & Definitions

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Habeas Corpus
Latin, meaning "you have the body." A writ of habeas corpus generally is a judicial order forcing law enforcement authorities to produce a prisoner they are holding, and to justify the prisoner's continued confinement. Federal judges receive petitions for a writ of habeas corpus from state prison inmates who say their state prosecutions violated federally protected rights in some way.
Head of Household
Someone who is unmarried and resides with a dependent. Head of household status can result in a lower tax rate in some jurisdictions.
Hearsay
Evidence presented by a witness who did not see or hear the incident in question but heard about it from someone else. With some exceptions, hearsay generally is not admissible as evidence at trial.
Holder of a Claim
a creditor of the debtor whose claim is provable in the estate.
Home Confinement
A special condition the court imposes that requires an individual to remain at home except for certain approved activities such as work and medical appointments. Home confinement may include the use of electronic monitoring equipment–a transmitter attached to the wrist or the ankle–to help ensure that the person stays at home as required.
Home equity loan
A consumer loan secured by a second mortgage, allowing home owners to borrow against their equity in the home. The loan is based on the difference between the homeowner's equity and the home's current market value. The mortgage also provides collateral for an asset-backed security issued by the lender and sometimes tax deductible interest payments for the borrower.  Also known as "equity loan" or "second mortgage". A home-equity loan is basically a line of credit secured by your home. When the line of credit is drawn down, the financial institution providing it places a second mortgage loan on your home until the loan is paid off, after which the you can use the loan to finance other purchases. However, if the loan is not paid off, your home could be sold to pay off the remaining debt. Interest rates on such loans are usually adjustable rather than fixed and lower than standard second mortgages or credit cards. 
Homestead
an exemption permitted in an individual debtor's place of residence. Section 522(d)(1) of the Bankruptcy Code provides a federal homestead exemption. State law also provides homestead exemptions.
Homestead Exemption
an exemption granted under state law or §522(d)(1) in an individual debtor's interest in property in which the debtor or a dependent resides.
Household
A house, apartment, mobile home, trailer, group of rooms, or single room occupied or intended for occupancy as separate living quarters. Separate living quarters are classified as a place where the occupants do not live and eat with any other person in the structure. Simply put, a housing unit is a self-contained living space.
Household Expenses
A per person breakdown of usual or general living expenses which include the amount paid for lodging, food consumed within the home, the utilities paid as well as regular expenses associated with a house or home. The sum of all the expenses is then divided by the number of family members residing in the house in order to find each member's part of the total expense.
Hypothetical Status of Trustee
the legal fictions created by §544, permitting the trustee to exercise avoidance rights that would have been available to a bona fide purchaser of real property, a lien creditor, and an execution creditor, had such persons existed on the date that the bankruptcy petition was filed.

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Filing Bankruptcy can sometimes be the fastest way to get out of debt and may be the most affordable way to get a fresh financial start.Chapter 7 Bankruptcy can quickly wipe out your debts, increase your credit score, stop wage garnishments, get rid of credit card debt, eliminate medical bills, stop payday loans, stop bill collectors, erase negative credit reporting, and reestablish new credit after bankruptcy. RJ Atkinson – Dallas Bankruptcy Lawyer have payment plans to make filing Chapter 7 or Chapter 13 Bankruptcy affordable which include low cost flat fees for Chapter 7 that may be considered the cheapest bankruptcy attorney fees compare to fees other bankruptcy lawyer charge. Chapter 13 Bankruptcy can save your home from foreclosure, save your car from repossession, lower monthly payments, reduce interest rates, get rid of late fees, reduce credit card interest, payoff high credit card debt, raise your credit score, stop creditor harassment, get rid of debt, reduce debt, eliminate creditor calls at work, stop collection calls, start over financially, discharge debts and/or be debt free in 3 to 5 years. IRS tax problems, tax levies, wage garnishments, back taxes, payroll taxes, income taxes can often be handled in Chapter 13 bankruptcy. Divorce/Bankruptcy – past due child support arrears, alimony, spousal support, and divorce debt can often be handled in chapter 13 bankruptcy. The Law Offices of RJ Atkinson handles debt consolidation, loan modifications, credit card debt settlement, debt negotiation, lawsuit defense, IRS problems, credit card lawsuits, TROs temporary restraining orders to foreclosure, forbearance agreements to foreclosure, FDCPA Fair Debt Collection Practices Act lawsuits, FCRA Fair Credit Reporting Act lawsuits, credit report disputes, debt collection lawsuits, adversary complaints in bankruptcy, bankruptcies, foreclosure workouts, mortgage short sales, real estate property tax disputes, civil litigation, commercial litigation, tax lawsuits, small business bankruptcy, corporate bankruptcy, business creditor representation, and most every kind of debt related issue or financially based legal problem on a case by case basis.

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