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.

Recent Posts in Bankruptcy Q&A

  • 21-May-2010

    Four Signs You May Need To File Bankruptcy

    Reduced income while your expenses remain the same. Debtors who have suffered a job loss, salary reduction or have taken a job with compensation lower than what they've become accustomed to, may need to file bankruptcy. Reduced income over the ...
  • 16-May-2010

    How Does Chapter 11 Bankruptcy Help Small Business?

    \ How Bankruptcy Helps Small Business Small businesses that choose to file Chapter 11 bankruptcy have an opportunity to get their financial affairs in order, reduce and get a fresh financial start. Many businesses think of bankruptcy as an end to ...
  • 14-May-2010

    Is My Inherited IRA Protected In Bankruptcy?

    Under 2005 bankruptcy reform, IRAs now enjoy projection when a debtor files for bankruptcy. Traditional and Roth IRA accounts with up to $1,171,650 in them are protected from creditor seizure during bankruptcy. That amount is reviewed very three ...
  • 11-May-2010

    Should My Business File Chapter 7 Bankruptcy?

    While individual debtors have the right to file Chapter 7, Chapter 11 or Chapter 13 bankruptcy, corporations and LLC's only have the right to file Chapter 11 bankruptcy or Chapter 7 bankruptcy. While we often hear of companies filing Chapter 11 ...
  • 6-May-2010

    Oops! I Made A Mistake In My Chapter 13 Bankruptcy...Now What?

    There are several rules that a debtor must abide by when filing Chapter 13 bankruptcy. For example, a Chapter 13 bankruptcy debtor is prohibited from transferring property without the consent of the bankruptcy court or borrowing money without first ...
  • 6-May-2010

    Can I Reduce My Car Loan Interest Payments In Bankruptcy?

    Car Loans and Bankruptcy If you're filing for bankruptcy, it's important to understand that car loans are treated differently in Chapter 11 bankruptcy than they are in Chapter 13 bankruptcy. If you're a high income debtor you may need to file Chapter ...
  • 5-May-2010

    How Does The Chapter 13 Bankruptcy Trustee Get Paid?

    When a debtor files Chapter 13 bankruptcy, he/she is has a bankruptcy trustee appointed to their case. The bankruptcy trustee is responsible for collecting payments from the debtor and distributing that money to creditors involved in the bankruptcy ...
  • 5-May-2010

    Can I Discharge My Second Mortgage In Chapter 13 Bankruptcy?

    While in most cases filing for Chapter 7 bankruptcy will not impact your mortgage, Chapter 13 bankruptcy in another matter. When a debtor files for Chapter 13 bankruptcy and has a second mortgage he/she just may be able to win a bankruptcy discharge ...
  • 1-May-2010

    How Can I Keep My Car In Bankruptcy?

    In most parts of the country having a car can mean the difference between being able to keep your job or becoming unemployed. That's why it is important that debtors considering bankruptcy understand the options available to them if they want to keep ...
  • 1-Apr-2010

    Voluntary Foreclosure Property Must Comply With City Code

    Chapter 7 bankruptcy debtors who surrender their property during bankruptcy may still be bound by the code and regulations enforced by their city or municipality until the secured creditor takes action to regain title of the property. Until the ...
  • 22-Mar-2010

    Four Reasons Chapter 7 Bankruptcy May Be Right For You

    If you are low or no-asset debtor, it is unlikely that you will need to pay any money to your creditors or be required to liquidate any of your assets. Because of the bankruptcy codes' generous exemptions system, many Chapter 7 bankruptcy debtors are ...
  • 22-Mar-2010

    Four Tips For The Post Bankruptcy You

    Bankruptcy offers debtors the chance at a fresh financial start. But what does a debtor do once their debt has been discharged and their bankruptcy case closed? Below are four tips every post bankruptcy debtor should follow if they want to start ...
  • 18-Mar-2010

    Three Dangers Of Hiding Debt

    In troubled times many people turn to debt to make ends meet, take care of emergencies or just to relieve the stress of everyday life by charging shopping sprees to their credit card. But more and more Americans are not only become more indebted, ...
  • 18-Mar-2010

    Why HAMP Is Failing To Stop The Foreclosure Crisis

    Is the Making Home Affordable Modification Program Working? When the Obama administration launched the Making Home Affordable Modification Program (HAMP) many homeowners thought they would finally have access to modification tools that would help ...
  • 18-Mar-2010

    Will I Lose All Of My Property If I File Bankruptcy?

    One of the most insidious myths about bankruptcy is that debtors who file bankruptcy will lose all of their personal property. For the umpteenth time, this myth is simply not true. A matter of fact, most debtors who file Chapter 7 bankruptcy do not ...
  • 17-Mar-2010

    I've Paid Several Bills Before Filing Bankruptcy - Will The Bankruptcy Court Demand The Money Be Returned?

    The bankruptcy code allows the bankruptcy trustee to demand the return of assets that were transferred before a debtor filed bankruptcy under certain circumstances. The debtor made payments on a debt that gave that creditor preferential treatment ...
  • 16-Mar-2010

    Five Steps To Conquering Monstrous Debt

    The first step to conquering debt that has gotten out of control is to get honest with yourself. Take the time to find out how much you owe, how much you earn and what the real gap is in between. One of the biggest shockers debtors experience when ...
  • 16-Mar-2010

    The Chapter 13 Bankruptcy Process For Debtors

    When a debtor decides to file for Chapter 13 bankruptcy there is process they must follow. Below we break down the Chapter 13 bankruptcy process into seven simple to understand steps. Step 1: First discuss with your bankruptcy attorney all of your ...
  • 15-Mar-2010

    Five Tips For Self-Employed Debtors Filing Bankruptcy

    Tip #1 - Make sure your business and personal finances are separate before you file bankruptcy. Take an effort to keep track of your business expenses and income while simultaneously keeping your private finances in order before you bankruptcy ...
  • 8-Mar-2010

    Can I Convert My Chapter 13 To Chapter 7 Bankruptcy?

    Chapter 13 bankruptcy allows a debtor to repay all or part of their debts over a 3 to 5 year period of time. However, some debtors who have filed Chapter 13 bankruptcy may find themselves facing new financial difficulties at some point during the ...
  • 5-Mar-2010

    Property Taxes and Bankruptcy

    Many debtors behind on both their mortgage and property taxes wonder if bankruptcy can be used to stop a property tax sale of their home. Bankruptcy Can be Used to Stop a Property Tax Sale Fortunately for debtors facing a property tax sale of their ...
  • 5-Mar-2010

    How Do Child Support Payments Impact My Bankruptcy?

    Bankruptcy and Child Support Payments Unfortunately for single parents, child support payments received in the six month period prior to filing bankruptcy will be counted as income for the purposes of the means test. If inclusion of that child ...
  • 4-Mar-2010

    Separating Bankruptcy Fact From Fiction

    When it comes to bankruptcy there is a lot of misinformation floating around. Many debtors considering bankruptcy often listen to the half-truths and outright myths about bankruptcy instead of getting the truth from qualified sources. Let's take a ...
  • 4-Mar-2010

    6 Things You Need To Know About Bankruptcy

    Bankruptcy is a legal and often wise decision for debtors who are overwhelmed by their debts and need relief. While some critics of bankruptcy contend that bankruptcy is a "cop out" the bankruptcy system continues to help individuals and businesses ...
  • 3-Mar-2010

    How To Thrive Financially After Bankruptcy

    Bankruptcy offers an opportunity at a fresh financial start of even the most indebted individuals. But how does a debtor ensure that their financial affairs remain in the "black" after a bankruptcy? Here are a few tips: Create A Budget - Whether you ...
  • 1-Mar-2010

    Bankruptcy and Personal Responsibility

    Bankruptcy and the debtors who seek bankruptcy protection have often been the unfortunate victims of unfair labels and generalizations. One of the unfair and inaccurate labels given to debtors who file bankruptcy is "irresponsible." Many people see ...
  • 1-Mar-2010

    Above Median Income Earners and Bankruptcy

    In 2005 the bankruptcy code was changed to make it difficult for above median income earners to file Chapter 7 bankruptcy and discharge their debts. In Texas, the median income for a 2 person family is $30,502. If a debtor with a 2 person family ...
  • 1-Mar-2010

    When Can You Expect Your Bankruptcy Discharge to Occur?

    Depending on the type of bankruptcy you file, you can expect your bankruptcy discharge to happen at a certain time after you file for bankruptcy. For anyone filing bankruptcy, a bankruptcy discharge is a great event that happens during the bankruptcy ...
  • 26-Feb-2010

    Seven Signs That You Have An Incompetent Bankruptcy Attorney

    In the most recent case of bankruptcy attorneys gone bad, attorney William Kaplan's license was suspended for misconduct which once again brings to light the importance to retaining a competent bankruptcy attorney. This bankruptcy attorney's license ...
  • 24-Feb-2010

    How Chapter 11 Bankruptcy Can Save Good Companies During Hard Times

    Chapter 11 bankruptcy has become almost a like a "miracle cure" for companies around the country. At the onset of the recession and foreclosure crisis, many companies desperately sought the protection of Chapter 11 bankruptcy, went through the ...
  • 23-Feb-2010

    Four Bad Reasons For Delaying Bankruptcy

    Debtors delay bankruptcy for many reasons and while there may be some legitimate reasons to delay bankruptcy most of them are not legitimate. Below are four bad reasons for delaying bankruptcy. You're hoping that you will "come into" some money soon, ...
  • 19-Feb-2010

    It's Been Years Since I Stopped Paying My Credit Card, Will They Sue Me?

    In the state of Texas there is a four year statute of limitations on the ability of debt collectors to sue a debtor because of an unpaid credit card debt. What that means is that if after your credit card debt is charged off, a debt collector only ...
  • 25-Oct-2009

    Prison Time Does No Exempt Bankruptcy Requirements

    In the bankruptcy case of Denger, Angela and Heath; In re the bankruptcy court denied a debtor's request to waive the financial management class. The details of the bankruptcy case: "The Chapter 7 debtor was in prison. He asked that the financial ...
  • 1-Oct-2009

    How Do I Know I Need To File Bankruptcy?

    Many debtors considering bankruptcy are often hesitant because they're not sure if they have crossed the line between just struggling financially and being completely bankruptcy. Well, here are a few general rules of thumb to follow when considering ...
  • 28-Sep-2009

    Bankruptcy Q&A: Discharge of Debt

    The goal of bankruptcy proceedings is to obtain a discharge of debts, which means the debtor is no longer personally liable for that debt. Q: What does a "discharge of debt" mean, exactly? A: The goal of bankruptcy proceedings is to obtain a ...