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Outstanding Service by Outstanding People



Whats New:

BANKRUPTCY 101

5 Top Reasons for Filing Bankruptcy
1. Medical Expenses
 A study conducted by Harvard University states that medical expenses account for 62% of all bankruptcy filings. These findings affect insured as well as uninsured filers.
2. Job Loss
with the state of the economy many people are finding themselves either unemployed, facing layoff, early termination or earyl retirement and the fact is most American's can't miss even a single paycheck!
3.Poor/Excess Credit
 whatever the reason, many people just a few years ago had perfect credit scores and were managing their debt and then a drastic economic turn occured and these same people are faced with plummeting credit scores, higher interest rates and quite simply the inability to even make minimum payments on their debt. 4.Divorce/Separation
the expenses involved with divorce are astronomical! Faced with mounting legal fees, child support, division of assets and the burden of maintaining 2 households forces many filers into bankruptcy 5.Unexpected Expenses
 unfortunatley unexpected expenses are always going to be a reason for bankruptcy filings. Natural disasters such as floods and tornadoes can devestate a family's income. This year Mother Nature has been the cause of millions of dollars of unexpected expenses! It's not just damage to homes, it is the loss of clothing and the basic necessities of life. People have been forced to charge clothing, food and gas just to survive and those charges are catching up with them.


Current News:

DO I QUALIFY FOR A CHAPTER 7 BANKRUPTCY?

The lastest Median Income according to the Census Bureau for the state of Texas is as follows:
1 Person Family: $38,294
2 Person Family: $55,178
3 Person Family: $56,445
4 Person Family: $65,477
Each additional family member increases the income amount by $7,500.
So what does all of this mean? If you make at or below the median income amount you will generally fall into a Chapter 7 Bankruptcy. Of course there are always exceptions but, this information gives provides you with a good rule of thumb.
We are always happy to answer any questions you have over the phone or in a free consultation. The median income can and does change, so we try to keep on top of the these updates and change them accordingly. So check back for the latest.


Recent Events:

FALL IS HERE!!

Fall is near, it is getting darker earlier, holiday's are fast approaching and the Texas Rangers are in the World Series for the 2nd year in a row!!! Don't forget to set your clocks back an hour on November 6, 2011. In Texas we don't get to experience all 4 seasons, but at least we get a break from the heat! We wish you all a happy and safe fall!

Steven H. Phelps, P.L.L.C. since 1995

In the Beginning -

Prior to entering law school, Steven Phelps was a Certified Public Account with the firm of Arthur Anderson & Company. Following his admission to the Texas State Bar in 1992, he initially focused on business and financal matters, always with a powerful dedication to exceptional client service.

In 1995, Steven opened his own practice so that he could make his idea of outstanding client service a reality for the entire firm.

Over 15 Years of Growth -

Putting the client first stimulated strong growth that continues today. Steven responded to client needs by expanding the practice by bringing in like-minded associates with appropriate specialties.

Areas of Specialization -

The Firm of Steven H. Phelps, P.L.L.C. now engages in a broad-based legal practice involved primarily in:

  • Consumer Bankruptcy;
  • Litigation;
  • Real Estate Transactions and Title Services;
  • Wills and Estate Planning; and
  • Business Representation.

Our Team Members

Picture of Steven H Phelps

Steven H. Phelps -

Mr. Phelps was admitted to the Texas State Bar in 1992. His early litigation practice was concentrated in the areas of business law, banking and financial services, real estate and labor law. In 1995, Mr. Phelps opened his own practice. Due to the needs of his clients, Mr. Phelps enlarged his practice to include the areas of estate planning and title services.

Prior to entering law school, Mr. Phelps was a certified public accountant with Arthur Anderson & Co. Mr. Phelps has successfully combined his knowledge and experience, as both a CPA and an attorney, to meet his clients' needs.

Mr. Phelps is licensed to practice law in all Texas state courts; admitted, U.S. District Courts for the Northern, Eastern and Southern Districts of Texas; admitted, U.S. Court of Appeals-5th Circuit. Mr. Phelps is a member of the American Bar Association, State Bar of Texas and the Dallas Bar Association.

James A. Wirz, Of Counsel -

Mr. Wirz, a former trial attorney for the U.S. Department of Labor, is a member of both the Texas and Oklahoma State Bar. Mr. Wirz contributes his knowledge and experience on a wide range of labor law issues, including occupational safety and health, government contract wage violations, whistle-blower cases and federal workers' compensation.

Mr. Wirz has likewise extended to the Firm his vast experience in the areas of real estate foreclosure, property possession, creditors' rights, bankruptcy, deceased borrower and probate matters.

Mr. Wirz currently operates an attorney fee office for Fidelity National Title were he handles real estate closings, title curative work and regulatory and lender liability issues.

Timothy Wells -

Timothy Wells is an associate at Steven H. Phelps, P.L.L.C. He received his undergraduate degree from the University of North Carolina at Charlotte. He also attended the University of Barcelona in Spain. Mr. Wells graduated Texas Tech University School of Law where he earned his Juris Doctor. He also received a Certificate of Excellence in Legal Research from the Texas Tech University Law Library.

Mr. Wells is licensed to practice in all Texas state courts and the U.S. District Court in the Northern and Eastern Districts of Texas. Mr. Wells is a member of the American Bar Association, the Dallas Bar Association, and the Dallas Volunteer Attorney Program.

When he is not practicing law, Mr. Wells enjoys playing basketball and soccer.