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 December, 2009

Blog Home
  • The Truth About Debt Settlement

    Posted By admin || 31-Dec-2009

    Well over a million Americans have filed bankruptcy this year and many experts expect that number to increase in 2010. Many Americans who are struggling with debt woes, facing foreclosure and other financial issues delay bankruptcy. Too many of them turn to questionable debt settlement firms who charge the exorbitant fees while failing to deliver on their promises. The truth about debt settlement ...
    Continue Reading
  • More Bankruptcy Filings - Fewer Bankruptcy Fraud Cases

    Posted By admin || 30-Dec-2009

    So far there have been 1.4 million bankruptcy filings this year but the numbers of prosecutions for criminal bankruptcy fraud have declined. U.S. authorities prosecuted the fewest number of people and companies for criminal bankruptcy fraud this year since at least 1986, even as filings rose amid the worst economic crisis since the Great Depression. The FBI, which is the primary agency that probes ...
    Continue Reading
  • Five Reasons Why You Should Never Hide Your Bankruptcy From Your Spouse

    Posted By admin || 30-Dec-2009

    Many debtors who have racked up debt without the knowledge of their spouse may be tempted to file bankruptcy "secretly" and not mention it to their spouse. Here's why that's always a bad idea: While you have a legal right to file bankruptcy alone even if you're married, keeping news of your bankruptcy filing from your spouse is nearly impossible. If you stop paying your creditors in anticipation ...
    Continue Reading
  • Four Steps To Financial Fitness

    Posted By admin || 30-Dec-2009

    Assess Your Current Financial Situation When assessing your financial situation it's important to find out exactly where you stand TODAY. Are you currently unemployed? Do you have enough money for you debts and everyday expenses? Are you facing foreclosure? Have you recently filed bankruptcy? Are you currently making payments on a Chapter 13 bankruptcy plan? What other financial circumstances are ...
    Continue Reading
  • Bad Advice Debtors Considering Bankruptcy Should Never Listen To

    Posted By admin || 29-Dec-2009

    When it comes to getting out of debt and "avoiding bankruptcy," it seems that everyone is an expert. Your neighbor, boss, co-worker and the random stranger on the street are all ready to offer their "guaranteed" advice on how to handle debt problems and avoid bankruptcy. However, most of them offer the same dead wrong advice that could send you straight to the poorhouse if you ...
    Continue Reading
  • Can Creditors Avoid An Automatic Stay?

    Posted By admin || 29-Dec-2009

    When a debtor files Chapter 7 or Chapter 13 bankruptcy, he/she will receive the protection of an automatic stay. The automatic stay prevents creditors from taking collection actions against the debtor in bankruptcy and also forbids the creditor from calling, writing, issuing a wage garnishment order, seizing the debtor's bank account or assets, filing a lawsuit or filing foreclosure on the ...
    Continue Reading
  • Image Entertainment Inc May File Chapter 11 Bankruptcy

    Posted By admin || 29-Dec-2009

    The independent licensee and distributor of entertainment programming in North America, Image Entertainment Inc., may need to file Chapter 11 bankruptcy after defaulting on a payment under a convertible note. The company defaulted on an installment payment of $4 million due on Dec. 14, for its $15.7 million convertible note. The company also said that the default could adversely affect its ...
    Continue Reading
  • Legislators Refuse To Empower Bankruptcy Judges -- Again

    Posted By admin || 29-Dec-2009

    Our legislators have once again refused to give bankruptcy judges the power to modify toxic mortgages during bankruptcy. Legislation that would have allowed bankruptcy judges to modify toxic mortgages by resetting the mortgage terms, extending prepayment periods, redefining interest rates/fees or decreasing the principal balance of a toxic mortgage failed to pass into law last week. It is ...
    Continue Reading
  • Credit Card Lenders "Pick-A-Rate" Plans No Good For Borrowers

    Posted By admin || 29-Dec-2009

    In an effort to make up for the loss of profits expected when the Credit Card Act becomes effective, many credit card lenders are placing borrowers in "pick-a-rate" programs that gives the lenders a lot more flexibly to hit borrowers with interest rates way above their expectations. In a report released by the Center for Responsible Lending, it was discovered that many credit card lenders were ...
    Continue Reading
  • What You Should Do When Medical Debt Strikes

    Posted By admin || 28-Dec-2009

    You have health insurance; but it's not adequate cover and now you have $100,000 in medical bills, what should you do? Millions of Americas with and without health insurance have filed bankruptcy because of medical debt. More than 62 percent of U.S. bankruptcies were caused medical debt. Here a few tips on how to handle medical debt when it strikes: If you are uninsured and are hit with medical ...
    Continue Reading
  • Are Low-Income Student Loan Borrowers At Higher Risk Of Default?

    Posted By admin || 28-Dec-2009

    Over 21 percent of student loan borrowers who attended a for-profit college default on their student loans within 3 years, according to a report released by the U.S. Department of Education. For-profit colleges claim that the high numbers of low-income students attending their institutions are inflating their default rates. So does being a low-income student increase your chances of defaulting on ...
    Continue Reading
  • Celebrity Bankruptcy: Is Lindsay Lohan Broke?

    Posted By admin || 28-Dec-2009

    Reportedly Lindsay Lohan is facing serious financial problems and can't seem to get a hold on her spending. Since she hasn't made a movie since the 2007 box office flop "I Know Who Killed Me" the starlet reportedly said that she is even struggling to pay the mortgage on her Los Angeles area home. Could there be a foreclosure in her future? I know many of us don't believe some of our favorite ...
    Continue Reading
  • Late Fees Shoot Upwards Ahead Of Credit Card Act

    Posted By admin || 28-Dec-2009

    In preparation for the impact of the Credit Card Act, all eight of the top credit card issuers have imposed larger late fees, even for borrowers with small balances. While credit card issuers claim that they impose late fees on a sliding scale with smaller balances taking less of a hit, that couldn't be farther from the truth. Yes, credit card companies are using a sliding scale to determine the ...
    Continue Reading
  • Borrowers With Good Payment Histories May Be Hit With Dirty Credit Card Tricks

    Posted By admin || 22-Dec-2009

    To get around the Credit CARD Act passed by Congress earlier this year, some credit card companies have decided to play dirty with even their best customers. Regarding late-payment fees, Dan of Campbell Hall, NY, says he's had a WaMu credit card for five years and has always paid his card down. He tells ConsumerAffairs.com that when Chase acquired WaMu last year, his interest rate shot to 29.99 ...
    Continue Reading
  • Mortgage Bankers Association Battles Homeowners Facing Foreclosure

    Posted By admin || 22-Dec-2009

    Shhh! Mortgage bankers don't want you to file bankruptcy. They don't want you to file bankruptcy and they definitely don't want you to have the power to modify a toxic mortgage in bankruptcy. In a letter from The Mortgage Bankers Association to Congressional leaders, mortgage bankers expressed their outright opposition to a mortgage bankruptcy "cram-down" amendment in the Wall Street Reform and ...
    Continue Reading
  • France And Britain Tax Banker Bailout Bonuses, Should We?

    Posted By admin || 22-Dec-2009

    Britain and France announced that they will levy a one-time tax on large bonuses paid by bailed-out banks, while US banks who benefited from taxpayer bailouts are set to dole out bonuses that are even larger than bonuses during 2008. I guess it's been a good year-for the banks. Wall Street banks are on track to pay $26 billion in bonuses for 2009 performance...That's up from $18.4 billion in 2008. ...
    Continue Reading
  • Million Dollar Homes In Texas Hit Hard By Foreclosure Crisis

    Posted By admin || 22-Dec-2009

    Million dollar homes are beginning to feel the sting of the foreclosure crisis. According to a recent report the number of million dollar homes hit with foreclosure has jumped 24 percent since last year. And while homeowners in lower-priced homes (under $250,000) are still the primary victims of foreclosure, the numbers higher-end homeowners facing foreclosure in Dallas-Fort Worth are on the rise. ...
    Continue Reading
  • Pilgrim Pride's Bankruptcy Exit Plan Approved

    Posted By admin || 21-Dec-2009

    Pilgrim's Pride's Chapter 11 bankruptcy exit plan was approved this week paving the way for the poultry processor to become part of a large Brazilian beef company. Under the Chapter 11 bankruptcy, all creditors with allowed claims will receive full repayment, which is rare during bankruptcy. While the company plans to actually exit bankruptcy by the end of 2009, Pilgrim must still close a deal ...
    Continue Reading
  • Texas Struggles To Replenish Unemployment Insurance Trust Fund

    Posted By admin || 21-Dec-2009

    In an effort to replenish the Texas unemployment insurance fund, the Texas Workforce Commission has announced that next year two-thirds of Texas businesses will pay nearly three times the unemployment benefits tax they paid this year. Businesses that pay the minimum state unemployment tax will owe nearly $65 per worker in 2010, up from about $23 this year. Under Texas' unemployment insurance ...
    Continue Reading
  • What If I Want To Sell My Home During Chapter 13 Bankruptcy?

    Posted By admin || 21-Dec-2009

    If you're in Chapter 13 bankruptcy and you want to sell your home, there are few things you need to know before you proceed: The bankruptcy court must approve the terms of the sale before a debtor closes on the property. The debtor's bankruptcy attorney must notify all of the creditors in the bankruptcy before the property is sold. You and your bankruptcy attorney must disclose the details of the ...
    Continue Reading
  • Will The Proposed Stimulus Program Save You Financially?

    Posted By admin || 21-Dec-2009

    President Barack Obama is proposing a stimulus program that's designed to combat the high unemployment rate plaguing the nation. But will the new stimulus program help the average American avoid foreclosure and bankruptcy? Obama proposed new spending for highway and bridge construction, for small-business tax cuts and for retrofitting millions of homes to make them more energy-efficient. He said ...
    Continue Reading
  • 27 Percent Of Homeowners In Making Home Affordable Program Are Delinquent On Mortgage

    Posted By admin || 21-Dec-2009

    The Making Home Affordable foreclosure prevention plan was suppose to help millions of homeowners avoid foreclosure, however the foreclosure program has failed to attain it goals. According to a Treasury Department report, 27 percent of homeowners taking part in mortgage modification trails are delinquent on their mortgage payments. And while the foreclosure prevention plan was designed to help ...
    Continue Reading
  • What Type Of Income Do I Need To Report In Bankruptcy?

    Posted By admin || 18-Dec-2009

    All debtors filing bankruptcy are required to take a "means test" which will determine if they need to file Chapter 7 or Chapter 13 bankruptcy. When taking the "means test" the debtor will be asked to disclose all of their income for the previous six months prior to filing bankruptcy. It is important that the debtor answers the income questions honestly and accurately. Please avoid the temptation ...
    Continue Reading
  • Bankruptcy Update: Six Flags' Creditors Denied Right To File Competing Plan

    Posted By admin || 18-Dec-2009

    Bankruptcy judge Christopher Sontchi has denied the request of Six Flags' creditors to file a competing bankruptcy reorganization plan and extended by 60 days the exclusive right of Six Flags to reorganize the company in bankruptcy. The bankruptcy court agreed with Six Flags that allowing creditors to submit a competing bankruptcy plan would have endangered the company's exit from bankruptcy and ...
    Continue Reading
  • How "Unsecured" Debt Can Become "Secured" Debt

    Posted By admin || 17-Dec-2009

    One of the most common types of unsecured debt is credit card debt. However, sometimes credit card debt can transform into secured debt giving it a higher priority for repayment during bankruptcy. How does that work? When a debtor fails to repay their credit card debt, the credit card lender will eventually file a lawsuit against the debtor. While the debtor will have an opportunity to go to court ...
    Continue Reading
  • 62 results found. Viewing page 1 of 3. Go to page 1 2 3   Next