Real Estate Transactions

Contracts, acquisitions, sales and development



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!

Insurance Litigation

In line with our broad civil litigation experience, we additionally represent insurance companies in the prosecution of subrogation claims, including claims for contribution and indemnification. Frequently, the Firm also defends property owners in premise liability claims.

Labor and Employment Law

Transactional, regulatory and litigation practice on behalf of employers, violations of non-compete agreements, Title VII Discrimination (sex, race, national origin, etc.), age discrimination and the Family and Medical Leave Act. The Firm also assists in the production of employment contracts, employer policies and procedures and employee handbooks.

Business Planning and Taxation

Our consulting services are designed to minimize tax liability while easing the administrative burden of compliance. Our business tax and compliance consulting is specifically focused on Federal income tax, multi-state and franchise taxes, sales and use taxes and ad valorem for corporations, partnerships and limited liability companies.

Health Care

Our Health Care Practice concentrates on simplifying the complexities of Medical Practices Management. With this in mind, we have developed a range of legal services that will allow medical professionals to focus on practicing medicine instead of trouble shooting their medical practice. We handle evaluating the medical practice, business office efficiency and profitability; development and implementation of a comprehensive plan for managed care; assistance in negotiating provider contracts and reimbursement amounts; compliance reviews; and assist in outsourcing the entire billing and collection function from your office to increase cash flow and decrease employee problems and associated cost.

Pro Bono & Community Service

Steven H. Phelps, P.L.L.C. is dedicated to its responsibility to provide legal services at no fee to persons in need who are of limited means through public service entities or authorized charitable and community service groups or organizations.

Technology

With the new age of technology upon us and the increased use of the Internet for business, our Firm has broadened its horizon in the area of technology law. We are now able to assist in the areas of commerce, intellectual property, freedom of expression and privacy. These areas that specifically cover digital signatures, taxation, copyright, domain names, censorship, defamation, anonymity and workplace privacy compromise a fast growing area of our practice.