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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 September, 2012

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  • Can My Spouse Be Liable for Debt When Filing Bankruptcy for My Business?

    Posted By admin || 28-Sep-2012

    Small business owners who consider bankruptcy protection may wonder if creditors may decide to pursue a spouse for outstanding debt when the business seeks protection. There are a few aspects to consider that may help determine if your spouse is also liable. It depends on whether or not you reside in a community property or common law state and how your business is organized. Either or both ...
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  • Using Bankruptcy to Help Pay and Discharge Debts

    Posted By admin || 28-Sep-2012

    This week Warren Sapp's Chapter 7 bankruptcy case was completed after filing in April earlier this year. When he filed his petition he had an overwhelming amount of debt totaling close to $7 million. Sapp's assets were just over $6 million which included personal items of value such as a signed boxing glove by Muhammad Ali and more than 200 pairs of Air Jordan shoes. While he still has certain ...
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  • Where the Jobs Are: Tips for the Unemployed

    Posted By admin || 27-Sep-2012

    If you're unemployed and have been for a long time then you may be ready to pursue another career path in the hopes of getting a job sooner and possibly pursuing a profession you've always been interested in. If you're thinking about a new job, make sure you're selecting a field that will have a relatively secure future, because you don't want to be in this situation again in the next couple ...
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  • The Crisis of Texas: An Economic Downturn

    Posted By admin || 26-Sep-2012

    With the upcoming election, thousands of voters in Texas have a variety of woes facing them. This infographic will teach you about some of the big issues in Texas and how they could play a part in how voters react in the upcoming election.
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  • Why It Is Important to Continue Mortgage Payments in Bankruptcy

    Posted By admin || 25-Sep-2012

    Some debtors wonder if they need to continue making payments on their mortgage when bankruptcy is filed. Whether you file Chapter 13 or Chapter 7 bankruptcy and you have intentions on keeping your home, you still need to continue making payments. You should also continue making homeowner's association payment dues. If you stop making either payment you could lose protection under the automatic ...
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  • If I Have a Power of Attorney Can I File Bankruptcy for Someone Else?

    Posted By admin || 25-Sep-2012

    A Power of Attorney is a unique document that states certain transactions can be carried out by a designated party on behalf of a loved one. Such documentation may be drawn up when a hospitalization occurs or when a person is unable to complete certain tasks. So if you have Power of Attorney for the debtor, can you file bankruptcy on their behalf? Power of Attorney documents allow for specific ...
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  • Tips to Avoid Employee Lawsuits

    Posted By admin || 24-Sep-2012

    Employers dread being sued by their employees and many companies take great steps to prevent such events, but other companies don't even bother to take the smallest strides toward protecting themselves from employee lawsuits. The following tips can help you protect yourself from an employee lawsuit. Establish an Employee Handbook Create an employee handbook with a list of all of your policies and ...
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  • What Happens If New Debt is Accumulated During Bankruptcy?

    Posted By admin || 24-Sep-2012

    When a debtor seeks bankruptcy protection by filing either Chapter 7 or Chapter 13 bankruptcy, it includes debt accumulated prior to their filing. This means debt obligations included in the current petition filed was accumulated before the decision to file. Debt incurred after you file your petition is known as post-petition debt. This debt doesn't qualify to be included in your current case. ...
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  • Five Reasons Why You Need Allmand Law

    Posted By admin || 20-Sep-2012

    There is no question that many people are struggling with their finances and the thought of filing for bankruptcy can be scary. You are not alone, many people feel the same way in tough times. The truth is if you have the support of a responsible attorney you can be best prepared for the hurdles ahead. This is where Allmand Law can be so beneficial. If you are considering a bankruptcy Allmand Law ...
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  • Car Accidents and Lawsuits

    Posted By admin || 20-Sep-2012

    Not all car accidents need to end up in lawsuits. In fact a very small number of them actually go to court and there may be even more that never get reported to either the police or insurance companies. If you're involved in a car accident it's not automatically assumed that you'll soon be involved in a lawsuit. The first thing to do if you're in an accident is to make sure you're okay. If you ...
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  • Is There a Limit on How Much Debt I Can Have When Filing Bankruptcy?

    Posted By admin || 19-Sep-2012

    Debt Limit For Bankruptcy Debtors considering bankruptcy likely will have different amounts of outstanding debt. The type of debt may also vary with some debtors having more unsecured debt, such as medical bills or credit cards, than others. Some debtors believe that if they owe too much money their bankruptcy case may get denied or dismissed by the court. The truth is in most cases, there isn't a ...
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  • What Bankruptcy Exemptions Am I Eligible For?

    Posted By admin || 18-Sep-2012

    Bankruptcy offers different exemption systems for debtors who file. In Chapter 13 bankruptcy exemptions may help determine what payment arrangements are created for your repayment plan. In Chapter 7 bankruptcy they can offer protection of assets from creditors. In most cases, the exemptions you are eligible for will depend on the state you reside in. They are available at different levels ...
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  • Tips to Help Successfully Complete Your Chapter 13 Bankruptcy

    Posted By admin || 18-Sep-2012

    Completing Your Chapter 13 Bankruptcy Filing Chapter 13 bankruptcy may help you gain control of your finances. The filing is a collaborative effort including your attorney and/or trustee and the debtor. The process may seem tedious with preparation of documents and final reviews of financial information. While your legal representative tends to important responsibilities pertaining to your case, ...
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  • Plastic Dependency

    Posted By admin || 17-Sep-2012

    Credit Cards have been around for decades, and the debt that can come along with them can pose real financial challenges. Here's a look at the state of credit card debt and how it's affecting Americans.
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  • Why It Helps To Meet With a Bankruptcy Attorney Before You File

    Posted By admin || 17-Sep-2012

    If you're struggling to make payments on debt obligations you may wonder if filing for bankruptcy is an option. For some, they have been making payments for several years but feel stuck when they realize their finances are out of control. Whether it's become a challenge to make minimum credit card payments, mortgage payments or unexpected medical bills, it's understandable why debtors ...
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  • What Happens When a Spouse Doesn't Report All of Their Income at Divorce?

    Posted By admin || 14-Sep-2012

    When a Spouse Doesn't Report All of Their Income at Divorce It's common for spouse to hide assets such as income during a divorce and for obvious reasons. They either feel they won't have anything left after property is divided or they are upset and bitter at their spouse and feel they are not entitled to anything they have. Hiding information may seem as if the spouse is being greedy but this ...
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  • Where to Turn if You Have Medical Debt

    Posted By admin || 14-Sep-2012

    When you have mounting medical bills and are struggling to regain your health it's easy to feel isolated, alone, and down on your luck. This is one of those times in life where you need to reach out to others and ask for help. No one should feel bad about asking for help when they need it. And even if you're willing to ask for help, many people don't actually know who or where to turn, especially ...
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  • Is Forbearance an Option if I Do Not Qualify for a Mortgage Modification?

    Posted By admin || 13-Sep-2012

    Don't Qualify for a Mortgage Modification? Mortgage modification may help you obtain a more affordable mortgage payment by adjusting loan terms. While the option seems obvious, especially if you're struggling to make mortgage payments and facing possible foreclosure, what happens if you are turned down for a modification? It's possible you may qualify for a special forbearance. What is ...
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  • What Information Should Be Included in the Divorce Papers?

    Posted By admin || 13-Sep-2012

    Divorce papers include important information that should be drawn carefully. It is often necessary to retain legal representation since certain provisions may include legal technicalities. Divorce papers may include information about child support, custody arrangements, property settlement and so on. The papers help many not only plan for life after divorce but also help to protect their futures. ...
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  • Newspaper Publisher Journal Register Seeks Bankruptcy Again

    Posted By admin || 11-Sep-2012

    Journal Register Company seeks bankruptcy protection again in efforts to reduce costs through selling company assets. The company is parent to 18 newspapers with media properties throughout 10 states. The filing is the second time around for the company, even though it just exited bankruptcy in 2009. The Chapter 11 bankruptcy will help the company reorganize debt obligations while still continuing ...
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  • How Does Filing Bankruptcy Protect You from Creditors?

    Posted By admin || 10-Sep-2012

    When a person or business seeks bankruptcy protection, some may wonder how a filing offers protection. When bankruptcy is filed a protection order known as the automatic stay becomes effective immediately. The action is a welcomed relief effort that gives debtors a chance to review their situation and seek the best solution without pressuring collection actions from the creditor. The Bankruptcy ...
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  • Can I Continue Contributing to a Retirement Account During Chapter 13 Bankruptcy?

    Posted By admin || 7-Sep-2012

    Retirement Accounts and Chapter 13 Bankruptcy Contributing to a retirement account such as a 401 (k) during Chapter 13 bankruptcy continues to be a challenging topic in federal court. There was a recent ruling by the Bankruptcy Appellate Panel of the 9 th Circuit that ruled debtors cease voluntary contributions during their Chapter 13 repayment period. Yet, it is possible you may still continue ...
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  • How Can I Avoid Getting Sued for Past Due Debt?

    Posted By admin || 6-Sep-2012

    Getting Sued for Past Due Debt? Being sued for unpaid debt is a possibility but you may be able to avoid legal action. It's common for debtors to forget or ignore the fact they owe money on an old or past due debt until a summons is received catching you off guard. Avoiding a lawsuit requires you to take action but also keep in mind you should review your legal rights as far as paying debt ...
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  • Common Mistakes on Medical Bills

    Posted By admin || 5-Sep-2012

    We often suggest that our readers take the time to review all of their medical bills in detail to see if there are any errors. Medical billing errors are quite often a reason for insurance companies to deny payment. It's one of those denials that can successfully be fought and won, this can mean the difference between small payments you were due and thousands and thousands of dollars. Common ...
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  • Learn About a Deed in Lieu of Foreclosure

    Posted By admin || 5-Sep-2012

    Deed in Lieu of Foreclosure If you're concerned about losing your home to foreclosure you may be looking at alternatives to a foreclosure. A deed in lieu of foreclosure is one option you may want to consider. First, it's important to understand that a deed in lieu of foreclosure will not help you keep your home. If you want to avoid foreclosure and keep your house you're going to have to look into ...
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