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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 January, 2014

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  • Deciding to File a Personal Bankruptcy as a Business Owner

    Posted By Allmand Law Firm, PLLC || 31-Jan-2014

    With the economy still struggling to bounce back, many people have decided to start their own business when they were unable to gain employment. Having an entrepreneurial attitude during an economic downturn can be beneficial with proper planning. Yet, even self-employed individuals and those with a business run into financial problems and wonder if bankruptcy is an option. Thinking About Filing a ...
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  • How Bankruptcy Can Be Used as a Financial Planning Tool

    Posted By Allmand Law Firm, PLLC || 30-Jan-2014

    Filing for bankruptcy doesn't have to mean you've given up on your finances. You don't have to keep struggling in figuring out how you will meet necessary financial obligations month after month. Chapter 7 bankruptcy can help you wipe out debts while Chapter 13 bankruptcy can help you pay them with an affordable repayment plan. Both options can help you keep your assets while helping ...
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  • Understanding the Bankruptcy Petition

    Posted By Allmand Law Firm, PLLC || 27-Jan-2014

    What is a bankruptcy petition? This is known as a formal application that plays a significant role in how your financial situation is communicated and reviewed by the bankruptcy court. This is lengthy documentation that includes information the court needs to know while allowing you to present your case. It acts as a written request from the debtor to the court in seeking the relief they need in ...
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  • IRA Accounts Can Be Protected In Bankruptcy Despite Limitations

    Posted By Allmand Law Firm, PLLC || 23-Jan-2014

    One reason many consumers overlook the possibility of filing for bankruptcy is fear of losing retirements funds such as an IRA (Individual Retirement Account). While there may be limitations on how much of your retirement funds can be protected, in most cases the funds you have saved can be protected without further questioning. It is a matter of discussing concerns or questions about your ...
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  • Are There Age Restrictions for Filing Bankruptcy?

    Posted By Allmand Law Firm, PLLC || 22-Jan-2014

    Is there an Age Limit to File Bankruptcy? Is it true you have to be a certain age to file for bankruptcy protection? Technically there is not an age limit that states you have to be a specific age in order to file. Yet, you may have to live in a jurisdiction for a certain time period when you file. Others may say you should be 18 years of age or older to file since in most states you should be of ...
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  • 3 Ways to Get Immediate Financial Help through Bankruptcy

    Posted By Allmand Law Firm, PLLC || 21-Jan-2014

    Bankruptcy is known for providing financial relief in various ways that help debtors get a fresh start and regain financial control. You may be able to stop foreclosure, prevent or regain utility service, or avoid repossession. Even though there are different bankruptcy chapters you have the ability to get help through bankruptcy you need through the following: Automatic stay to stop collection ...
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  • Why Filing Bankruptcy in January May Be Helpful for Your Finances

    Posted By Allmand Law Firm, PLLC || 20-Jan-2014

    How Filing Bankruptcy in January Can Help Your Finances With the start of a new year, many consumers considering bankruptcy may wonder when it is a good time to file. You may be surprised to learn that now may be the best time. Discussing your options with a bankruptcy attorney may help you understand timing more accurately and how it can help your personal situation. For some, waiting too long ...
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  • How Bankruptcy Can Help if You Received a Judgment from a Creditor

    Posted By Allmand Law Firm, PLLC || 17-Jan-2014

    What happens when a creditor has a judgment against you? Some debtors make the mistake of ignoring the summons and experience a rude awakening when their wages or their bank account gets garnished. You have a certain amount of time to answer the judgment before further legal action is taken against you. If you fail to do anything you may be giving the creditor more of an advantage to collect ...
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  • What You May Not Know About Student Loan Debt & Bankruptcy

    Posted By Allmand Law Firm, PLLC || 16-Jan-2014

    Debtors may be under the impression they are unable to get student loan debt discharged. While this may be the case for some, others may qualify to have this debt eliminated but don't bother asking their attorney about it. When you file you are expected to list debt obligations you have outstanding, including those that are non-dischargeable. Yet, there are those who wait until after their ...
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  • Debts You Must Pay in Chapter 13 Bankruptcy

    Posted By Allmand Law Firm, PLLC || 15-Jan-2014

    A Chapter 13 bankruptcy plan can help you get your finances back in order. As a court-approved repayment plan that restructures debts, you may be able to make reduced payments on obligations based on your income ability. Yet, there are certain debts you are required to pay as part of the agreement, including secured debts and priority debts. Chapter 13 is often filed by debtors looking to retain ...
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  • Is Canceling a Check for a Payday Loan Considered Fraud if I Plan to File Bankruptcy?

    Posted By Allmand Law Firm, PLLC || 13-Jan-2014

    Payday loans can help you take care of emergency situations, but some find it frustrating when they have to start rolling over their loan or take out multiple loans just to make ends meet. Some debtors are worried about what may happen if they plan to file bankruptcy and want to stop payment on a check. Some payday lenders are quick to make threats regarding canceling a check upon filing for ...
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  • Common Mistakes Made When Filing Bankruptcy Pro Se

    Posted By Allmand Law Firm, PLLC || 9-Jan-2014

    One of the reasons why debtors are highly encouraged to seek legal representation when filing bankruptcy is to ensure their case goes through the system in a proper manner while avoiding common pitfalls. Filing on your own may seem simple enough when you are able to download documents online, but many have no idea what they are actually looking at and why it is important for documentation to be ...
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  • Can Bankruptcy Help Me Get Rid of Traffic Tickets?

    Posted By Allmand Law Firm, PLLC || 8-Jan-2014

    Traffic Tickets and Bankruptcy Have you accumulated traffic tickets you have been unable to pay? You may be able to eliminate the debt in bankruptcy with a few exceptions to the rule. Usually in bankruptcy certain debts related to government fines and penalties may not be eligible for discharge in Chapter 7 bankruptcy. But, Chapter 13 bankruptcy may help you get rid of the debt as long as you ...
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  • Can Bankruptcy Help Me Deal with Debts from an Ex-Spouse?

    Posted By Allmand Law Firm, PLLC || 6-Jan-2014

    While having the ability to make payments on debt obligations is enough of a struggle alone, some debtors have to deal with an ex-spouse who has yet to start paying their share of the debt. You may have a divorce agreement that details that is responsible for making payments on certain debts, but it may become a problem when the ex has not made payments. Creditors are now coming after you instead ...
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  • What Are Bankruptcy Schedules?

    Posted By Allmand Law Firm, PLLC || 3-Jan-2014

    Bankruptcy schedules are an overview of your financial situation but in more detail. This information includes commonly disclosed details about a debtor's financial background that is presented in your bankruptcy case. This includes income earnings, expenses, debts and assets. The schedules help the court assess your situation. They should be filed out accurately and to the best of your ...
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