The Allmand Law Firm, PLLC Difference

Unlike most bankruptcy firms in the Dallas / Fort-Worth area, Allmand Law Firm, PLLC spends the time to understand the complete financial picture for every one of our clients. We provide resources, tools and advice to address the unique needs of North Texans.

Blog Posts in October, 2008

Blog Home
  • Texas Health Resources Lays Off 49 Healthcare Workers

    Posted By admin || 29-Oct-2008

    According to a story by the Star Telegram Dallas-Fort Worth's job losses grow as Texas Health Resources lays off 49 healthcare workers throughout Texas. Texas Health Resources, which operates 13 hospitals and employs more than 18,000 people, says the layoffs were caused by a drop in the number of people seeking medical care because of the economic recession. According to Texas Health Resources, ...
    Continue Reading
  • Can Bankruptcy Hurt Your Immigration Status?

    Posted By admin || 27-Oct-2008

    Many legal residents hoping to secure a green card or citizenship face many financial difficulties, but are apprehensive about filing for bankruptcy because they fear it may hurt their immigration process. The good news is that there is no immigration law, statute, or regulation that states that if you file for bankruptcy you cannot become a naturalized citizen or apply for a green card. Not only ...
    Continue Reading
  • Small Gifts Okay Before Bankruptcy

    Posted By admin || 27-Oct-2008

    If you're filing for Chapter 7 or Chapter 13 bankruptcy, the law does allow the transfer of small customary gifts to family members within one year before filing for bankruptcy. A small customary gift is usually defined as a gift with a value of less than $200. For example, giving your mother a $300,000 house for Christmas would not fall under the "small customary gift" definition; but ...
    Continue Reading
  • Community Leaders Battle Foreclosures

    Posted By admin || 27-Oct-2008

    The number of the religious and community groups pushing lenders to renegotiate troubled loans so homeowners can avoid foreclosure is growing. PICO National Network, based in Oakland, California, says it is working with hundreds of families in California facing foreclosure and plans to help as many as a million homeowners avoid foreclosure nationwide. PICO will join over 500 clergy and community ...
    Continue Reading
  • Selling Your Home While In Chapter 13 Bankruptcy

    Posted By admin || 24-Oct-2008

    Can You Sell Your Home While in Chapter 13 Bankruptcy? If you're in Chapter 13 bankruptcy you can still sell your home but you must first get approval from the bankruptcy court before you close on the property. The bankruptcy court must approve the terms of the sale and your attorney must notify all of your creditors before the property is sold. You attorney must disclose to the bankruptcy court ...
    Continue Reading
  • Voluntary Wage Assignments & Payday Loans

    Posted By admin || 24-Oct-2008

    As job losses increase in the Dallas-Fort Worth area many people are living paycheck to paycheck and feeling forced to take out payday loans just to make it to the end of the month. But many of those people find that they are not able to repay the payday loans even once they receive their paychecks. So now payday lenders are starting to use a collection tool called "voluntary wage assignment." ...
    Continue Reading
  • Borrowing While In Chapter 13 Bankruptcy

    Posted By admin || 24-Oct-2008

    During the 3 to 5 years a debtor is in Chapter 13 bankruptcy, he/she cannot acquire new debt (credit cards, bank loans etc.) without the permission of the bankruptcy trustee. While in Chapter 13 bankruptcy the debtor is put on a credit diet so to speak to insure that he/she does not recreate the situation that led them to bankruptcy in the first place. In other words, debtors in Chapter 13 ...
    Continue Reading
  • Child Support And Bankruptcy

    Posted By admin || 23-Oct-2008

    The Bankruptcy Abuse Prevention and Consumer Act of 2005 guarantees that unpaid child support and alimony debt has priority over any other creditors, including taxes owed and cannot be discharged in bankruptcy. The person owed, child support or alimony payments must file a "proof of claim" with the bankruptcy court to receive payment. The 2005 law requires that the bankruptcy trustee provide a ...
    Continue Reading
  • Discharging Non-Support Obligations From Divorce

    Posted By admin || 23-Oct-2008

    The 2005 bankruptcy law made non-support obligations from a divorce dischargeable in a Chapter 7 bankruptcy only if the discharge would not harm the spouse who is owed the obligation. However, Chapter 13 bankruptcy makes some debts from property settlements in divorce proceedings dischargeable under the law. Remember, only some property settlements, not support settlements are dischargeable under ...
    Continue Reading
  • Delinquent Mortgage Payments And Chapter 13 Bankruptcy

    Posted By admin || 23-Oct-2008

    Delinquent Mortgage Payments and Bankruptcy After filing for Chapter 13 bankruptcy remaining current with your mortgage payment is a requirement of your Chapter 13 confirmation order. But as we all know, so much can happen over the 3 - 5 years of Chapter 13 bankruptcy. What if your income decreases drastically? What if you lose your job or become critically ill? And the big question, what if you ...
    Continue Reading
  • Bank of America Cuts Mortgage Payments

    Posted By admin || 23-Oct-2008

    According to Money.com in December 2008, Bank of America will begin implementing the most aggressive foreclosure prevention effort ever created by any U.S. bank. To help save as many as 400,000 troubled borrowers from foreclosure, Bank of America will cut monthly housing payments to no more than 34% of gross income. There are no prepayment penalties or modification fees for borrowers in the ...
    Continue Reading
  • Housing Market Flooded With Bank Owned Homes

    Posted By admin || 23-Oct-2008

    According to an article on CNN Money over 851,000 homes have been foreclosed on by lenders since August 2007. Another 265,968 borrowers received foreclosure filings in September and although that's a 12% drop from the record high in August, it is a 21% increase in foreclosure filings since September 2007. That's bad news for the U.S. housing market which is being flooded with bank-owned property ...
    Continue Reading
  • During Your Divorce Disclose Your Intentions To File Bankruptcy

    Posted By admin || 23-Oct-2008

    If you're going through a divorce and you intend to file for bankruptcy afterwards, you may be required to disclose your intentions to your spouse. A recent case found a debtor's divorce related debts such as alimony non-dischargeable because he failed to disclose his intention to file for bankruptcy. The case, filed in the Southern District of Texas found that the debtor entered into alimony ...
    Continue Reading
  • Do You Make Too Much Money To File For Bankruptcy?

    Posted By admin || 22-Oct-2008

    So many Americans facing mounting debts never consider bankruptcy because they're under the often false assumption that they make too much money. But the reality is that thousands of Dallas-Fort Worth consumers file for bankruptcy every year even with incomes over $100,000. To find out if you qualify under Chapter 7 bankruptcy you need to calculate your household income. To determine your ...
    Continue Reading
  • What To Expect From Your Creditor When You File Bankruptcy

    Posted By admin || 17-Oct-2008

    When filing for either Chapter 7 or Chapter 13 bankruptcy there are few things that you can expect from your creditor. The creditor will stop all collection actions against you. This means that when you file for bankruptcy the creditor will not call, send you letters or try to seize your bank accounts or garnish your wages. The creditor will file a claim against your assets in the bankruptcy ...
    Continue Reading
  • Fix Creditor Preference Violations Before Filing Bankruptcy

    Posted By admin || 17-Oct-2008

    In both Chapter 7 and Chapter 13 bankruptcy, the debtor is not allowed to give any creditor preference over another. But what often happens is that before filing for bankruptcy a debtor will repay family and friends while not paying anything to unsecured creditors. This is unwise because if a bankruptcy case is filed within a year of these payments to family and friends, the trustee make take the ...
    Continue Reading
  • Social Security Benefits Increase In 2009

    Posted By admin || 17-Oct-2008

    According to The Dallas Morning News social security benefits will increase by 5.8% for 50 million Americans in 2009, the largest increase since 1982. What that means is that the average American retiree will receive an additional $63 in their monthly social security check. But many retirees won't feel the benefits of the social security increase because of the high inflation rates of energy and ...
    Continue Reading
  • Chapter 13 Bankruptcy Requires Listing All Lenders, Yes Even Mom

    Posted By admin || 17-Oct-2008

    When people think about filing for Chapter 13 bankruptcy they often only think about their debts with companies such as credit cards and mortgage lenders. But filing for Chapter 13 bankruptcy requires that you list all debts including those personal loans you took out with friends and family. Failing to list all of your personal loans from friends and family in the Chapter 13 bankruptcy filing may ...
    Continue Reading
  • Presidential Candidates, The Economy and Where They Stand

    Posted By admin || 15-Oct-2008

    The two presidential candidates Senator John McCain and Senator Barack Obama both agree that the current foreclosure crisis demands an immediate fix; but they disagree on exactly what is the right plan of action to stem the tide of foreclosures. McCain proposes that homeowners facing rapidly declining house values and possible foreclosure could apply for a government-backed FHA loan; but only if ...
    Continue Reading
  • Texas' New Prepaid Tuition Plan Beats Inflation

    Posted By admin || 15-Oct-2008

    Many middle-class families worry about increased inflation, student loan costs and the credit squeeze as they plan for their children's college education. But Texas state officials hope their new prepaid tuition plan, Texas Tuition Promise Fund, will help families get a head start on saving for college. The prepaid plan will cover only undergraduate education, allowing families to lock in tuition ...
    Continue Reading
  • Texas Property Tax Loans Come At High Price

    Posted By admin || 15-Oct-2008

    Texas Property Tax Loans and the Texas Tax Code The Texas tax code allows residents who own real estate property to take out a loan from third party lenders to pay their past due property taxes. Many may think this is an easy way to avoid the penalties associated with delinquent taxes such as liens against the property; but property tax loans come at a high price. When taking out a property tax ...
    Continue Reading
  • Protecting Your Personal Injury Award When Filing For Bankruptcy

    Posted By admin || 15-Oct-2008

    If you're considering bankruptcy; but are expecting or receiving monetary awards due to a personal injury case make sure your Dallas-Fort Worth bankruptcy attorney is aware of your rights under the new bankruptcy laws. There are provisions in the bankruptcy law that will prevent creditors from seizing up to $20,200 in proceeds that you receive from a personal injury claim excluding pain and ...
    Continue Reading
  • The Repo Man May Not Breach The Peace

    Posted By admin || 15-Oct-2008

    In the state of Texas your vehicle can be repossessed without notice; but repossession agents cannot "breach the peace" while conducting the repossession. What this means is that under Texas law while the repossessing the vehicle, the repossession agent cannot: forcibly remove you from your vehicle stop you on the street or highway enter a closed garage break into your house create a disturbance ...
    Continue Reading
  • Credit Counseling Required Before Filing Bankruptcy

    Posted By admin || 15-Oct-2008

    Since the new bankruptcy laws went into effect in 2005 consumers filing for Chapter 7 or Chapter 13 bankruptcy are required to go through a government-approved credit counseling program within six months before they file for bankruptcy protection. Credit counseling can take place in person, over the phone, or online. The credit counseling session will last about 90 minutes and will include an ...
    Continue Reading
  • It's Getting Tougher To Get A Car Loan In Dallas-Fort Worth

    Posted By admin || 10-Oct-2008

    According to the Dallas Morning News Wall Street's bad luck seems to have infected the car sales and loan industry in Dallas-Fort Worth area. Sales continue to slide, dropping as much as 35% in several car dealerships in the Dallas-Fort-Worth community. With the availability of car loans becoming more limited, many dealerships are finding buyers scarce and reluctant. Most people can't afford to ...
    Continue Reading
  • 42 results found. Viewing page 1 of 2. Go to page 1 2   Next