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 January, 2009

Blog Home
  • Dallas-Fort Worth Commercial Real Estate -- Winter Is Here

    Posted By admin || 29-Jan-2009

    According to an article in the Star-Telegram, nearly 200 commercial real estate developers, investors and brokers attended an industry conference this week and the assessment of the current conditions for the commercial real estate market was somber at best. The article quoted one of the speakers at the conference: "We've got to acknowledge that winter is here," Rob Sell, a partner in Village ...
    Continue Reading
  • The Ever-Expanding Starbucks Now Closing Stores

    Posted By admin || 29-Jan-2009

    There was once a time when you couldn't miss Starbucks because there were at least several in the trendiest areas of town; but now times are tough and the once expanding giant is rapidly contracting. According to an article in the Dallas Morning News, Starbucks is closing 300 stores (that's in addition to 600 stores which were already slated to close six months ago) and implementing 6,000 job ...
    Continue Reading
  • The House Passes $819 Billion Stimulus Package, But Will It Create Jobs?

    Posted By admin || 29-Jan-2009

    This week the House passed an $819 billion stimulus package in the hope that it will help create more jobs and slow the recession gripping the nation according to an article in the Dallas Morning News. Texas legislator Chet Edwards, who helped write the bill urged officials to pass the stimulus package because Texas is at risk of going bankrupt. The article said: "It's important to pass this bill ...
    Continue Reading
  • House Judiciary Committee Approves Bankruptcy Reform

    Posted By admin || 29-Jan-2009

    The House Judiciary Committee has approved a bankruptcy reform bill that will allow bankruptcy judges to modify mortgages for people facing foreclosure. The bill's sponsor, Democratic Rep. John Conyers Jr. spoke of the importance of the bankruptcy reform: "We have block after block of "for sale" and foreclosure signs - feeding off each other, driving down home values, uprooting families, ...
    Continue Reading
  • Considering Bankruptcy? DO NOT Liquidate Your Assets!

    Posted By admin || 29-Jan-2009

    Let's face it, many of us are facing tough financial times; but in our efforts to "do right" by our creditors some of us are doing things that are destroying our financial future. Here are some of the things you should not do in an attempt to repay your creditors if you're considering bankruptcy: Do not raid your retirement account. Many people in an attempt to be "honorable" will empty out their ...
    Continue Reading
  • Dallas-Fort Worth Hotel Industry Taking A Hit -- Expect To See Job Losses

    Posted By admin || 29-Jan-2009

    According to an article in the Star-Telegram, over 50 percent of the hotel rooms in Dallas-Fort Worth sat empty in December 2008 and 2009 is expected to see even higher vacancy rates. The article said: Fort Worth's hotel occupancy rates are expected to continue to decline in 2009, partly due to the addition of hotel rooms downtown. While the citywide occupancy rate was 49.3 percent in December, ...
    Continue Reading
  • Texan Politicians Fight Over Economic Stimulus Money

    Posted By admin || 29-Jan-2009

    After meeting with Texas lawmakers regarding the national debt and spending, President Obama was criticized for not allocating enough of the $825 billion economic stimulus package for Texas, according to an article in the Dallas Morning News. Texas, which represents 8 percent of the nation's population according to the latest census bureau figures, will only receive as little as 7 percent of the ...
    Continue Reading
  • Federal Reserve Taking Steps To Curb Foreclosures

    Posted By admin || 29-Jan-2009

    According to an article in the Dallas Morning News, the Federal Reserve is taking steps to help homeowners facing foreclosures save their homes. Under the Federal Reserve program, qualified homeowners facing foreclosure will be provided several options to avoid foreclosure such as: lowering the principal amount owed on the mortgage reducing the interest rate on the mortgage lengthening the term of ...
    Continue Reading
  • Filing For Bankruptcy? STOP Using Those Credit Cards

    Posted By admin || 29-Jan-2009

    Many debtors filing for bankruptcy are under the gun financially which causes them to "rob Peter to pay Paul" in a game that I will call "credit card musical chairs." In an effort to keep their financial house of cards from tumbling many debtors use revolving credit to pay for even some of the most basic items such as food and rent, even withdrawing cash from one card to pay the minimum balance on ...
    Continue Reading
  • Incarceration Does'nt Waive Prepetition Bankruptcy Requirement

    Posted By admin || 29-Jan-2009

    In the bankruptcy case of Anderson, Ronald an incarcerated debtor who filed for bankruptcy, the bankruptcy court dismissed the debtor's bankruptcy case because he failed to obtain and deliver to the court the pre-petition credit counseling certificate required by bankruptcy law. The debtor claimed that he was unable to meet the credit counseling requirements because of his incarceration. Here's an ...
    Continue Reading
  • More Job Losses - This Time It's Texas Instruments

    Posted By admin || 28-Jan-2009

    According to an article in the Star-Telegram, Texas Instruments announced 3,400 job losses as the economy continues to contract with job losses, bankruptcy and foreclosures. Texas Instruments' job losses will eliminate 12 percent of its work force in hopes that it can save $700 million in expenses and stop the financial blood letting it has experienced in 2008 and in the first few weeks of 2009. ...
    Continue Reading
  • New Rules May Stifle Lobbyist Efforts To Influence Bail Out

    Posted By admin || 28-Jan-2009

    According to an article in the Star-Telegram, Treasury Secretary Timothy Geithner, announced new rules that limit lobbyist influence on the proposed $700 billion financial rescue program for an economy that is facing scores of bankruptcies and foreclosures. The article said: Obama administration officials said they go farther than the lobbying rules imposed by the Bush administration and are ...
    Continue Reading
  • Flying The Nearly Bankrupt Skies -- Again?

    Posted By admin || 28-Jan-2009

    Delta, the world's biggest airline carrier announced a 1.4 billion loss in the final three months of 2008, according to an article in the Star-Telegram. Delta, which recently emerged from bankruptcy, lost a total of $8.9 billion for the entire 2008 fiscal year. Air travel demand has fallen sharply as consumers face job losses, bankruptcy and foreclosures and airlines such as Delta may be headed ...
    Continue Reading
  • Abdicating Financial Affairs To A Spouse Can Spell Disaster In Bankruptcy

    Posted By admin || 28-Jan-2009

    In the bankruptcy case of Washington Mutual Bank v. Heard, a debtor's Chapter 7 bankruptcy discharge was denied because she failed to disclose asset transfers that occurred before filing for bankruptcy. In the bankruptcy case the debtor defended her failure to disclose asset transfers by stating that she was a housewife who handed over all financial affairs to her husband. Allegedly she signed ...
    Continue Reading
  • Thousands Of Jobs Lost And More Job Losses To Come For 2009

    Posted By admin || 27-Jan-2009

    As if 2008 wasn't bad enough 2009 has brought tens of thousands of fresh layoffs most of which were just announced this week. According to an article in the Star-Telegram, Sprint Nextel Corp., the third-largest wireless provider in the country announced 8,000 job losses. Home Depot Inc., announced that it will implement 7,000 job losses and General Motors Corp. said it will send 2,000 employees at ...
    Continue Reading
  • Big Bankers Preventing Homeowners From Foreclosure Help

    Posted By admin || 27-Jan-2009

    There's a very revealing article in The Star-Telegram that exposes efforts by banks and mortgage companies to prevent very important bankruptcy legislation from being approved and implemented. We've talked about the need of homeowners facing foreclosure to be able to modify their mortgages in bankruptcy and many taxpayers and government officials (including President Obama) have voiced their ...
    Continue Reading
  • Automakers Still On Life Support And Barely Avoiding Bankruptcy

    Posted By admin || 27-Jan-2009

    Although Chrysler has taken out over $4 billion in government bail out loans just to avoid bankruptcy, the Vice Chairman and President Jim Press offered "good news" about the future of the company according to an article in the Star-Telegram. The article said: A top Chrysler LLC executive says the automaker should be viable by springtime because of its restructuring, introduction of new and ...
    Continue Reading
  • Selling Or Closing Your Business Before You File Bankruptcy May Spell Trouble

    Posted By admin || 27-Jan-2009

    Selling Or Closing Your Business Before Filing Bankruptcy Many self-employed or small business owners facing financial difficulties and considering bankruptcy may decide to close up shop or sell the business to cut their losses and reduce stress. But depending on when the business owner files for bankruptcy the simple action of selling or closing a business before filing for bankruptcy may be seen ...
    Continue Reading
  • Microsoft Job Losses An Unexpected Casualty

    Posted By admin || 26-Jan-2009

    According to an article in the Dallas Morning News, Microsoft Corp. will implement 5,000 job losses over the next 18 months representing more than 5 percent of its 94,000 employee work force. For everyone Microsoft was a real surprise. No one expected the very powerful and seemingly ever expanding company to actually experience any major job losses. A matter of fact, according to the article, it's ...
    Continue Reading
  • No More Taxes For Seniors? Yes If President Obama Has His Way

    Posted By admin || 26-Jan-2009

    Since we're living in an age of "internet government" I decided to take another virtual trip to the White House web page and found another interesting tidbit of information about reforms supported by the new President Obama administration. According to the updated White House web site President Obama would like to: Eliminate Income Taxes for Seniors Making Less Than $50,000: Obama and Biden will ...
    Continue Reading
  • Foreclosure Crisis -- An Epidemic That Must Be Contained

    Posted By admin || 26-Jan-2009

    There's a MUST READ article at American Progress that compares the current foreclosure crisis to an outbreak of smallpox in the early part of the 20th Century and discusses how a small town was quarantined and mandated to be vaccinated so that the epidemic would not spread to other towns. The article suggests that we take similar measures to contain the foreclosure crisis by taking radical steps ...
    Continue Reading
  • Texas Unemployment Compensation Trust Fund Short $477 Million

    Posted By admin || 26-Jan-2009

    According to an article in the Star-Telegram, Texas' unemployment compensation trust fund may fall short $447 million by Oct. 1, because of the temporary suspension of the unemployment replenishment tax last year. Although the unemployment replenishment tax was reinstated this month, it won't be enough to reach the $861 million required by Texas law. The article said: As a result of the deficit, ...
    Continue Reading
  • New Car Sales Plunge 13.8% In Dallas-Fort Worth

    Posted By admin || 26-Jan-2009

    According to an article in the Dallas Morning News new car and truck sales in the Dallas-Fort Worth area dropped 13.8 percent in 2008. Car sales nationwide were down 18 percent in 2008, so Dallas-Fort Worth actually faired better than the national average. But the nearly 14 percent drop in car sales are the worst Dallas-Fort Worth has seen in over 10 years. Not surprising news, since the ...
    Continue Reading
  • Uncle Sam Has Some Pleasant Surprises For Homeowners This Year

    Posted By admin || 26-Jan-2009

    An article in the Star-Telegram highlights some great tax savings in store for taxpayers this year: Property Tax deductions that allow homeowners to deduct state property taxes paid for 2008. For single filers, you can deduct up to an additional $500 and for joint filers you can deduct up to an additional $1000 on your Federal income tax refund. The amounts listed should be added to your standard ...
    Continue Reading
  • Texas Unemployment Rate Reaches 6 Percent

    Posted By admin || 26-Jan-2009

    According to an article in the Dallas Morning News, Texas employers drastically slashed payrolls in December adding 25,700 jobs to the list of job losses causing the state's unemployment rate to rise to 6 percent from 5.7 percent the month before. And that number's up from 4.2 percent in December of 2007. What will the figures look like in 2009? With the accelerated job loss level, we may be ...
    Continue Reading
  • 93 results found. Viewing page 1 of 4. Go to page 1 2 3 4   Next