Call Sidney Diamond now to make an appointment for a free consultation at 915-440-2328.
As a trusted El Paso Bankruptcy Lawyer, I have helped hundreds of clients throughout Texas reorganize and eliminate debt, saving homes, cars and wages from overly aggressive creditors. My focus includes:
- Chapter 7 Bankruptcy
- Chapter 11 Bankruptcy
- Chapter 12 Bankruptcy
- Chapter 13 Bankruptcy
- Tax Law
- Offers in Compromise
- Installment Agreements
- Foreclosure Defense
- Adversary Proceedings
- Loan Workouts
- Debt Consolidation
- Garnishments
- Creditor Harassment
Bankruptcy law is a unique type of law based on forgiveness rather than punishment. As of October 17, 2005, the Bankruptcy Abuse Prevention and Consumer Protection Act took effect, enforcing tougher restrictions on consumers trying to file under Chapter 7 bankruptcy. As a skilled El Paso Bankruptcy Lawyer, I have the necessary expertise to determine the qualifications you must meet in order to file for bankruptcy.
My law practice provides people in financial turmoil an opportunity to get back control of their finances. I am proud of my office team; they sincerely work hard at making everyone who walks through the door comfortable and at ease. I have made it a point to be available – to help remove the uncertainty and panic that most of my clients are experiencing.
Our commitment is to honor our clients, by providing excellent and aggressive legal representation so that the transition from unmanageable to manageable goes as smoothly as possible.
With all that, the office is designed to be a well-oiled machine. I have the newest computer technologies and systems in place which allows us to be extremely efficient as well as take on more cases. I have an experienced staff that keeps the bankruptcy process on track. I work hard for my clients, making sure their needs are being met and that they receive excellent representation. I often take the path least traveled if that is what it takes to get the job done. I know I’ve done a good job when my clients come back to say thank you.
I handle tax issues, and I’ve also found a niche in business Chapter 13’s. Again, it’s because it takes a better understanding of business to put together even a small plan of reorganization. The small business owner that finds himself in trouble – not quite big enough to file a Chapter 11 – needs skilled legal help. Some started the business from scratch and find themselves in trouble. They require all the expertise of an experienced business bankruptcy lawyer, and we provide that service.
My practice offers outstanding customer service before, during and right up to discharge of bankruptcy. All potential new clients meet with me personally. I provide my clients with a booklet of information that breaks down the bankruptcy process. Every telephone call is returned, and every question gets answered. I also take my Continuing Legal Education seriously, so that I can always be on top of my game and provide outstanding representation.
If you or someone you know in Texas needs the assistance of an experienced El Paso Bankruptcy Lawyer, call Sidney J. Diamond today at 915-440-2328, or complete the contact form provided on this site to schedule your free consultation.
*The Law Office of Sidney J. Diamond is a debt relief agency helping people in West Texas file bankruptcy.
Practice Areas and Legal Definitions
Every year, more than 1,000,000 Americans file for protection under Federal bankruptcy laws. Many hardworking individuals and businesses can succumb to financial difficulty, and face irreparable economic crisis. Bankruptcy is designed as a legal option to help resolve such a crisis, and act as a financial life preserver for those drowning in debt. To discuss your bankruptcy options, or other areas of recourse that might be available to you, contact a qualified bankruptcy attorney who can advise you of your legal rights as stated under Bankruptcy Law and federal Bankruptcy courts.
Chapter 7:
Chapter 7 cases are commonly referred to as straight bankruptcy or liquidation cases, and may be filed by an individual, corporation, or a partnership. A Chapter 7 bankruptcy case does not involve the filing of a plan of repayment as in Chapter 13. The new bankruptcy law requires pre-qualification for Chapter 7 filings. A Means Test determines whether your monthly income for a family of your size falls above or below the median income in Texas (or in your state). Approximately 96% of all Chapter 7 requests qualify. If you are of the small minority that does not qualify – you still have the option of filing a Chapter 13. Chapter 7 Bankruptcy will eliminate (discharge) unsecured debts such as credit card debt, medical bills, most personal loans, judgments resulting from car accidents, past due on repossessed vehicles, some older tax debts (over 3 years old), payday loans and garnishments.
Chapter 13:
A Chapter 13 bankruptcy is also called a wage earner's plan. It enables individuals with regular income to develop a plan to repay all or part of their debts. Under this chapter, debtors propose a repayment plan to make installments to creditors over three to five years. Chapter 13 permits individuals to keep their property by repaying creditors out of their future income. After completion of payments under the plan, Chapter 13 debtors receive a discharge of most debts.
Foreclosure:
Foreclosure is the legal proceeding in which a bank or other secured creditor sells or repossesses a parcel of real property (immovable property) due to the owner's failure to comply with an agreement between the lender and borrower called a "mortgage" or "deed of trust". Commonly, the violation of the mortgage is a default in payment of a promissory note, secured by a lien on the property. When the process is complete, it is typically said that "the lender has foreclosed its mortgage or lien".
The only ways to stop a foreclosure are full payment of the arrearage, or the filing of a Chapter 13 bankruptcy. Full Payment: If you are able to obtain and tender the full amount of your arrearage, including fees and costs, you can stop the foreclosure of a standard residential mortgage. Most people lack the money to make full payment. This process stops the foreclosure and allows you to repay your arrearage over a three-to-five year period. The arrearage is paid through a court-appointed official, while you resume your regular monthly payments to the bank in order to keep your home. A Chapter 13 can be filed at any time prior to the law day or sale date, and it is often the only avenue to save your home.
Debt Consolidation:
Contrary to popular belief, debt consolidation is not a loan. Debt consolidation is a process in which debt is restructured into one low monthly payment. It further enables a consumer to reduce the amount owed and thereby eliminate interest. Very often a consumer can detect warning signs of being in too much debt long before any collection notices are received. If more than two of the following signs apply to you, you are probably in too much debt:
- You have begun charging to your credit card essential expenses like food and daily expenditures
- You are making only the minimum payments on your credit cards each month
- You are near the limit of your credit cards
- You have too many credit cards
- You are unsure how much money you owe creditors
Chapter 11:
Chapter 11 is typically used for business bankruptcies and restructuring. It allows businesses to reorganize themselves, giving them an opportunity to restructure debt and get out from under certain burdensome leases and contracts. Typically a business continues to operate while it is under Chapter 11, although it does so under the supervision of the Bankruptcy Court and its appointees.
Taxes — Offers in Compromise:
An offer in compromise is an agreement between a taxpayer and the IRS to resolve a tax debt. The IRS has the authority to settle federal tax liabilities by accepting less than full payment in some cases.
An offer in compromise will be considered only after other payment options have been tried, such as monthly installment agreements. Once other options have been exhausted, an offer in compromise can be submitted to the IRS.
Taxes — Installment Agreements:
Installment agreements, also called payment agreements, payment options or payment plans, allow you to pay the taxes you owe over time. It involves payment of interest and penalties, in addition to the amount due. Installment agreements can allow for the full payment of the tax debt in small amounts over periods up to 60 months, allowing cash-strapped taxpayers some breathing room in payment of the federal tax liability.
If you or someone you know in Texas needs the assistance of an experienced El Paso Bankruptcy Lawyer, call Attorney Sidney J. Diamond today at 915-440-2328, or complete the contact form provided on this site to schedule your free consultation.
If you or someone you know in Texas needs the assistance of an experienced El Paso Bankruptcy Lawyer, call Attorney Sidney J. Diamond today at 915-440-2328, or complete the contact form provided on this site to schedule your free consultation.
ADDRESS OF THE FIRM:
The Law Office of Sidney J. Diamond
3800 North Mesa, Suite B-3
El Paso, TX 79902
Telephone: 915-440-2328
Fax: 915-532-3355
MEMBERS OF THE FIRM:
Sidney J. Diamond
EDUCATION:
- J.D., Baylor University School of Law, 1964
- Texas
- Board Certified Business Bankruptcy Law By: Texas Board of Legal Specialization and the American Bankruptcy Board of Certification
- Texas Bar Association (Member, Committee on Bankruptcy, Business Section)
- Border Bankruptcy Bar Association
- American Bankruptcy Institute
- National Association of Consumer Bankruptcy Lawyers