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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 March, 2014

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  • If I Am in Chapter 13 Bankruptcy Can I Keep My Tax Refund?

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

    If I Am in Chapter 13 Bankruptcy Can I Keep My Tax Refund? Chapter 13 bankruptcy is a structured repayment plan approved by the court that helps debtors make affordable monthly payments to creditors. The plan is based on income ability of the debtor with disposable income being another factor in how payments to creditors are established. A tax refund may be considered disposable income that could ...
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  • Do I Have to Attend the Meeting of Creditors After Filing Bankruptcy?

    Posted By Allmand Law Firm, PLLC || 28-Mar-2014

    When you file for bankruptcy keep in mind there are specific actions required by the debtor to complete in order to obtain a successful discharge. In this case, it often includes attending the meeting of creditors (also known as the 341 meeting of creditors). But under certain circumstances you may be able to have the meeting rescheduled or completed through another form of communication such as ...
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  • Medical Bills May Surpass Credit Card and Mortgage Debt as Leading Cause of Bankruptcy

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

    A recent study continues to confirm one of most leading causes of consumer bankruptcy: medical bills. Yet, the study also brought to light other significant points that may hint medical bills may become the number one reason why bankruptcy is filed. Unpaid medical bills may surpass mortgage debt and credit card debt for various reasons, despite more people getting access to healthcare insurance. ...
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  • What You Should Do with Your Tax Refund If You Plan to File Bankruptcy

    Posted By Allmand Law Firm, PLLC || 25-Mar-2014

    If you are expecting to receive a tax refund before filing bankruptcy you may be able to spend it wisely without causing legal headaches. There are a few actions to consider when it comes to using your refund before you file and this includes reviewing your intentions with your bankruptcy attorney. You can get further insight on how to use your refund safely to reduce the risk of having purchases ...
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  • Does Discharged Debt from Bankruptcy Get Reported on Federal Income Taxes?

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

    Does Discharged Debt from Bankruptcy Get Reported on Federal Income Taxes? During tax season the question often arises regarding discharged debt and whether it has to be claimed as income on federal income taxes. This widely depends on whether the creditor acknowledges discharged debt as being canceled debt. If this is the case debtors may receive a 1099c form from the creditor to include when ...
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  • Understanding Bankruptcy Eligibility via the Means Test

    Posted By Allmand Law Firm, PLLC || 18-Mar-2014

    Are You Eligible For the Bankruptcy Means Test? When you file bankruptcy you will take what is called the Means Test. The test helps debtors learn if they qualify to file Chapter 7 bankruptcy. It reviews the financial background of the debtor to understand monthly expenses and income availability. The test reviews whether disposable income is available and whether it can be placed toward ...
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  • Can Bankruptcy Help Me If I Am Dealing with an Eviction?

    Posted By Allmand Law Firm, PLLC || 14-Mar-2014

    In many cases you can prevent eviction from moving forward if the landlord does not have a judgment for possession. In other words, if you receive an initial notice for eviction you may be able to file bankruptcy to stop the process from moving further. In some cases there may be exceptions to consider but you can review your situation with an experienced bankruptcy attorney to get a better idea ...
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  • What You Should Know about Filing Bankruptcy and Divorce

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

    Bankruptcy and Divorce There are times in which money becomes a problem for married couples looking to end their marriage, bankruptcy at some point may be something either or both spouses are considering. Some may wonder if it is best to file for one over the other while others may want to do them both at the same time just to get it over with. There are factors that should be reviewed when ...
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  • Getting Rid of Back Taxes in Bankruptcy and What You Should Know

    Posted By Allmand Law Firm, PLLC || 10-Mar-2014

    Bankruptcy can help you eliminate back income taxes depending on your situation and qualifications. You can file Chapter 7 bankruptcy to discharge tax debt that qualifies under the bankruptcy code. If your debt does not meet these qualifications, you may consider Chapter 13 bankruptcy to help you repay what you owe based on your income ability. While it is important to review your situation with a ...
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