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

  • If I Owe More Than My House is Worth Can Bankruptcy Help Me?

    Posted By Allmand Law Firm, PLLC || 13-Mar-2017

    Debt and financial problems can make it difficult to keep up with obligations, including the ability to pay a mortgage. For some people, especially those who bought homes the height of the housing market boom, these problems can be exacerbated by high mortgage payments for a property that is no longer worth as much as what was initially paid for the home. An underwater mortgage, where homeowners ...
    Continue Reading
  • Should I Answer a Summons if I Plan to File Bankruptcy?

    Posted By Allmand Law Firm, PLLC || 13-Mar-2017

    Problems and finances and debt can lead to numerous challenges and issues to be handled, from foreclosure to utility shutoffs to repossession. In addition to these symptoms of debt, some individuals may also face legal actions for not paying bills and other types of debt. When they fail to address these legal actions, creditors or debt collectors can file what is known as a summons with the court, ...
    Continue Reading
  • When Can I File Bankruptcy Again if I Filed in the Past?

    Posted By Allmand Law Firm, PLLC || 10-Mar-2017

    Bankruptcy is a powerful legal tool that has helped many unfortunate debtors emerge from seemingly insurmountable debt. Because bankruptcy can be an immensely advantageous tool to those experiencing financial difficulties, some consumers tend to think that once you file bankruptcy, you can’t file again. This simply isn’t true. While every case is different, the U.S. bankruptcy code ...
    Continue Reading
  • Life After A Personal Bankruptcy: What You Can Expect

    Posted By Allmand Law Firm, PLLC || 6-Mar-2017

    Filing for a personal bankruptcy can be a major life event. After all, for six to nine months, or even longer in some cases, you are expected to provide bankruptcy courts and lawyers with all of your financial documentation and meet obligations established by the court. You may constantly worried about whether or not your personal bankruptcy case will be approved and let's not forget the fact ...
    Continue Reading
  • What's Holding You Back From Filing For Bankruptcy?

    Posted By Allmand Law Firm, PLLC || 6-Feb-2017

    You're getting squeezed by your debtors. There's not an hour that goes by when you don't receive harassing phone calls from collections agencies. Every time you open your mailbox, you are met by a cascade of final demands and urgent notice letters, all of which document exactly how much you owe and to whom. If this sounds familiar, we only have one question to ask you: What is holding ...
    Continue Reading
  • Why is it Recommended to File Bankruptcy with an Attorney?

    Posted By Allmand Law Firm, PLLC || 6-Feb-2017

    When you choose to files for bankruptcy, you can file with a lawyer or "pro se." Many who choose to file without legal representation may opt in doing so in hopes of saving money. However, for those who are not as familiar with the process, handling this on your own may come with consequences that could potentially worsen your situation. Rules related to bankruptcy can be complex, and ...
    Continue Reading
  • What to Expect When You Have a Bankruptcy Consultation

    Posted By Allmand Law Firm, PLLC || 6-Feb-2017

    While bankruptcy can be intimidating, filing may be your first step towards achieving financial freedom. Once you make the decision to file for Chapter 13 or Chapter 7 bankruptcy, the next big step is to prepare to meet with a highly skilled bankruptcy lawyer. Why is Important to Prepare Before Your First Meeting? To begin, prepping for your meeting can help you save time and money. In addition, ...
    Continue Reading
  • Business Bankruptcy: Debt Relief Options for Small Businesses and Business Owners

    Posted By Allmand Law Firm, PLLC || 18-Jan-2017

    Owning and operating a business is no easy task – no matter the industry. In fact, statistics show that business owners in certain industries – such as restaurants – face incredibly tough odds when it comes to getting off the ground or achieving solid financial success. With the need for start-up capital, overhead expenses, advertising, and more, business owners often find ...
    Continue Reading
  • Four Signs That it's Time to Consider Bankruptcy

    Posted By Allmand Law Firm, PLLC || 17-Jan-2017

    Financial troubles can happen to anyone at any time. Even the most financially conscientious individuals can be struck by an unexpected circumstance like an illness or job loss. If you are struggling with debt and are unable to keep up with your bills, you may be wondering if bankruptcy is the answer. Below, we have identified four signs that it may be time to speak to a bankruptcy lawyer about ...
    Continue Reading
  • Can Chapter 13 Bankruptcy Help Me with Business Debt?

    Posted By Allmand Law Firm, PLLC || 9-Jan-2017

    If you own a small business and need help reorganizing your debts, Chapter 13 bankruptcy may be an option to consider. This Chapter can help you develop a repayment structure based on income earnings, type of debt, and expenses you have, and ultimately keep your assets and business in operation. Chapter 13 plans typically last from three to five years, depending on the circumstances involved, and ...
    Continue Reading
  • Bankruptcy, Divorce, and Domestic Support Obligations

    Posted By Allmand Law Firm, PLLC || 19-Dec-2016

    Is a private contract made between spouses in a pro se divorce case considered a non-dischargeable domestic support obligation under the United States Bankruptcy Code? Dixon v. Bellard This article is a case summary of late-breaking case law in the United States Bankruptcy Court for the Northern District of Texas, Amarillo Division. This article is for informational purposes only. This article ...
    Continue Reading
  • Should I File Bankruptcy If I Just Lost My Job?

    Posted By Allmand Law Firm, PLLC || 14-Dec-2016

    Anyone who has lost their job or experienced a significant change in their income earnings may wonder if bankruptcy is an option to consider, especially if they feel they will be unable to make payments on their obligations. While you may feel you should begin the process right way, you may want to analyze your situation further to make sure it is the best solution for your situation. In some ...
    Continue Reading
  • Knowing When to File for Bankruptcy: Questions to Ask Yourself

    Posted By Allmand Law Firm, PLLC || 5-Dec-2016

    Tough times happen for all types of people, especially when it comes to finances. Fortunately, the federal government understands that individuals and business owners may find themselves facing insurmountable debt, and as a result, searching for solutions to a very real problem. The U.S. Bankruptcy Code was created to help “honest but unfortunate” debtors who find themselves facing ...
    Continue Reading
  • Debt Settlement vs. Bankruptcy: What's the Difference?

    Posted By Allmand Law Firm, PLLC || 14-Nov-2016

    If you are struggling with overwhelming debts, debt settlement and bankruptcy are two options that can help you regain good financial health. While many people are familiar with the word “bankruptcy,” debt settlement is less well known, and the differences between both options are unclear to many. For the benefit of our clients, this blog will serve to distinguish between these two ...
    Continue Reading
  • Why It Is Important to Review Your Credit Report Before Filing Bankruptcy

    Posted By Allmand Law Firm, PLLC || 1-Nov-2016

    You may hear about why it is important to review your credit report annually to make sure information is current and being reported properly to the credit bureaus. But anyone considering bankruptcy should also review their credit report before filing bankruptcy to make sure they include all of their creditors in their documentation and schedules. You are required to list your creditors as part of ...
    Continue Reading
  • Using Bankruptcy to Stop or Prevent Wage Garnishment

    Posted By Allmand Law Firm, PLLC || 10-Oct-2016

    The state of Texas, along with a few other states, may not allow creditors to garnish wages to satisfy debts, except for special circumstances such as spousal / child support, student loans, and federal taxes. A wage garnishment is when a creditor receives permission from the court to withhold payment from paycheck earnings and have them forwarded to the creditor instead. If garnishment of your ...
    Continue Reading
  • How Much Debt Is Required to Be Repaid in Chapter 13 Bankruptcy?

    Posted By Allmand Law Firm, PLLC || 3-Oct-2016

    Chapter 13 Bankruptcy is known as the “wage earner plan” because it allows debtors who have some amount of disposable income to retain their property and make payments toward their debt over the span of several years (usually five). The bankruptcy means test will typically determine if this Chapter of bankruptcy is most appropriate for an individual. Debtors considering Chapter 13 ...
    Continue Reading
  • Personal Bankruptcy and Business Ownership: What You Need to Know

    Posted By Allmand Law Firm, PLLC || 19-Sep-2016

    If you file personal bankruptcy, it can take a significant toll on any business ownership in your name, depending on how the business was legally organized and the type of bankruptcy petition filed with the court. Under United States bankruptcy code, there are two types of filings for individuals; they are indicated by "Chapter" numbers, and personal bankruptcies are either Chapter 7 or ...
    Continue Reading
  • How Does The Automatic Stay Help Those Filing for Bankruptcy?

    Posted By Allmand Law Firm, PLLC || 6-Sep-2016

    Filing bankruptcy can be an intimidating decision. But, did you know that there are various tools that can protect you during the process? In fact, one of the most beneficial tools for those filing bankruptcy is the automatic stay. The automatic stay is a part of all bankruptcy cases, and it stops all collection actions you may be facing from creditors or debt collection agencies. The automatic ...
    Continue Reading
  • How to Get Rid of Credit Card Debt Through Bankruptcy

    Posted By Allmand Law Firm, PLLC || 29-Aug-2016

    Excessive debt is one of the major reasons why people file for bankruptcy. In many cases, the excessive debt is the result of paying for necessities such as medical bills and vehicle repairs. While there are some exceptions, most credit card debt can be discharged when a person successfully completes Chapter 13 or Chapter 7 bankruptcy. Chapter 7 Bankruptcy and Credit Card Debt When you file for ...
    Continue Reading
  • Choosing a Bankruptcy Attorney: Characteristics of Quality Representation

    Posted By Allmand Law Firm, PLLC || 17-Aug-2016

    Getting the outcome you deserve for your financial situation includes having the right legal representation in your corner. Taking time to choose an experienced bankruptcy attorney may save you headache and frustration down the road, and can make all the difference in the outcome of your case. Debtors have been known to choose an attorney based on an advertisement, price or claims in what they say ...
    Continue Reading
  • 6 Things to Avoid Prior to Filing Bankruptcy

    Posted By Allmand Law Firm, PLLC || 8-Aug-2016

    If you are considering bankruptcy or have plans to file bankruptcy in the future, getting prepared ahead of time can affect the outcome of your case. At Allmand Law Firm, PLLC, we know that failing to prepare or taking the wrong steps can significantly jeopardize the success of a case. This is why we do all we can to educate our clients about their cases and their rights, and to provide them with ...
    Continue Reading
  • Timelines You Should Know When Filing Bankruptcy

    Posted By Allmand Law Firm, PLLC || 18-Jul-2016

    One factor that can make a difference in how your bankruptcy case proceeds is meeting necessary deadlines. There are a number of timelines related to your case that play a big role in helping achieve the outcome you want. While there may be several deadlines you need to consider, it helps to think about them in the order of their occurrence. In this sense, this can help set milestones throughout ...
    Continue Reading
  • Divorce and Bankruptcy: Can They Both Be Filed at the Same Time?

    Posted By Allmand Law Firm, PLLC || 11-Jul-2016

    When you and your spouse are coming to terms with your marriage and finances, you may have questions regarding divorce and bankruptcy. Depending on your situation, you may be recommended to complete one before the other. Or, you may be able to complete each process at the same time depending on debts, income, assets, and any final agreements determined. There are a few points to review to ...
    Continue Reading
  • Do Bankruptcy Laws Vary From One State to Another?

    Posted By Allmand Law Firm, PLLC || 5-Jul-2016

    Bankruptcy laws do not vary from one state to another. Meaning, laws are the same for all states. However, when you file bankruptcy each state may have different median income amounts you need to meet in order to qualify. Exemptions you qualify for may also vary depending on the type of property. It is important debtors discuss their situation with their bankruptcy attorney to understand state and ...
    Continue Reading
  • Conduit Mortgage Payments in Chapter 13 Cases

    Posted By Allmand Law Firm, PLLC || 23-Jun-2016

    If you are behind on your mortgage and file for Chapter 13 bankruptcy, your plan will have to include your mortgage payments (“conduit mortgage payments”). Prior to the enactment of an order that requires mortgage payments to be made within a Chapter 13 plan, debtors were able to make payments directly to their mortgage company without the need to go through a trustee. Now, however, ...
    Continue Reading
  • Do I Have to File Bankruptcy with an Attorney?

    Posted By Allmand Law Firm, PLLC || 20-Jun-2016

    The bankruptcy code allows debtors the option of representing themselves, also known as a "pro se" debtor. Yet, just because you can file on your own doesn't mean it is always the best idea. In many cases, you should complete the process with an experienced bankruptcy attorney, especially when your financial future is shaped by the process. To understand this further, it helps to get ...
    Continue Reading
  • 7 Bankruptcy Mistakes to Avoid

    Posted By Allmand Law Firm, PLLC || 13-Jun-2016

    Being honest and having the right information when you file bankruptcy can help you avoid mistakes that can complicate your case. Bankruptcy is a privilege that deserves your cooperative attention while working with the court to ensure you get a favorable result. The following points are a few common mistakes made by debtors that can be prevented with proper planning and further discussion with ...
    Continue Reading
  • Understanding the Purpose of Bankruptcy

    Posted By Allmand Law Firm, PLLC || 7-Jun-2016

    If you are considering bankruptcy as a way to get your finances under control, you are not alone. By understanding that you need to find a solution to your problems with debt, you’ve already won half the battle. Bankruptcy was intended to help those in your position, and our attorneys at Allmand law are here to help you along the path to your financial fresh start. While every case is unique ...
    Continue Reading
  • What is the Bankruptcy Means Test?

    Posted By Allmand Law Firm, PLLC || 3-Jun-2016

    In 2005, lawmakers passed the Bankruptcy Abuse Prevention & Consumer Protection Act (BAPCPA) and made several significant changes to U.S. bankruptcy laws. BAPCPA affected both consumer and business bankruptcies by creating a new test to determine who is capable of paying back what they owe, and what bankruptcy chapter they are eligible to file under. Today, any person who chooses to file for ...
    Continue Reading
  • Why Is Credit Counseling Required for a Bankruptcy Filing?

    Posted By Allmand Law Firm, PLLC || 24-May-2016

    Debtors who are considering filing for bankruptcy may wonder about the credit counseling requirement and why they have to complete it. In short, it is required because it is stated in the bankruptcy code. If you don't complete it, you may not be able to file your petition when you are ready to seek financial relief. The good news is the process is simple and many have found it useful, ...
    Continue Reading
  • Credit Card Fraud in Chapter 7 Bankruptcy

    Posted By Allmand Law Firm, PLLC || 4-May-2016

    While most credit card debt is dischargeable in a Chapter 7 bankruptcy, there are occasions when a judge may require a debtor to repay a lender. The most common reason for judges to require repayment of credit card debt in Chapter 7 bankruptcy is if the debtor committed fraud. In other words, if the judge determines that the debtor charged up a high balance on their card without any intention of ...
    Continue Reading
  • 7 Significant Benefits of Chapter 13 Bankruptcy

    Posted By Allmand Law Firm, PLLC || 22-Apr-2016

    Chapter 13 bankruptcy is a court-approved repayment plan allows debtors to pay back their debt obligations over a period of three to five years depending on their debt and income levels. The repayment plan allows debtors to make one manageable payment each month to their bankruptcy trustee, so there is no contact with creditors. For those who qualify for this option, filing under Chapter 13 is a ...
    Continue Reading
  • Can I File Bankruptcy While in the Military?

    Posted By Allmand Law Firm, PLLC || 29-Mar-2016

    While serving in the military, individuals have the same rights as regular civilians to file bankruptcy protection in order to save their valuable assets. However, individuals should keep in mind that certain high-ranking positions require security clearances that may not be available to people who have filed for bankruptcy. Nevertheless, there are no legal restrictions that prevent military ...
    Continue Reading
  • What Bankruptcy Can & Cannot Do For Federal Tax Debt

    Posted By Allmand Law Firm, PLLC || 24-Mar-2016

    If you have federal tax debt, you may be wondering if filing for bankruptcy can do anything to help your situation. You may have even heard commercials offering the hope of eliminating tax debts in bankruptcy, but it’s actually not that simple. Most tax debts can’t be discharged by bankruptcy. And unfortunately, if you are being audited, a bankruptcy filing won’t stop the audit ...
    Continue Reading
  • Texas Bankruptcy Exemptions

    Posted By Allmand Law Firm, PLLC || 7-Dec-2015

    Considering filing for Chapter 7 or Chapter 13 bankruptcy in Texas? You may have several questions about how the process works and how it will affect your financial future. Many people assume that filing for bankruptcy will cost them everything they own, but there are in fact several protections available to help filers keep more of their property or pay less to unsecured creditors. These ...
    Continue Reading
  • Why Hiding Assets Could Cost You

    Posted By Allmand Law Firm, PLLC || 23-Nov-2015

    When an individual or couple files for bankruptcy, they are required to disclose all of their assets in their petition. It is important for filers to remember that they must be 100 percent truthful when disclosing assets and that they not attempt to hide them. Some people think that by concealing assets, they won’t be taken away by the court during bankruptcy. However, doing so is considered ...
    Continue Reading
  • Huge Spike in Home Repossessions During Lingering Foreclosure Crisis

    Posted By Allmand Law Firm, PLLC || 9-Nov-2015

    While the rate of new foreclosures may be returning to normal, the damage caused by the past decade’s housing disaster is still lingering. According to RealtyTrac, a foreclosure analytics and sales company, bank repossessions have jumped 66 percent over the rate from this same time last year – the largest rise the company has ever recorded. In the space of just three months, over ...
    Continue Reading
  • Redefining "Undue Hardship" May Make it Easier to Discharge Student Loan Debt in Bankruptcy

    Posted By Allmand Law Firm, PLLC || 28-Oct-2015

    Student loan debts have only ever been dischargeable by bankruptcy under the most dire of circumstances, but student loan write-offs may soon be easier to accomplish if the Obama administration’s proposal is approved. The Department of Education recently released a report identifying solutions they believe will benefit people who are struggling to repay their loans. This would involve the ...
    Continue Reading
  • Bankruptcy and Success are Not Mutually Exclusive

    Posted By Allmand Law Firm, PLLC || 15-Oct-2015

    It is a popular misconception that only unsuccessful people or businesses file for bankruptcy, or that there is no way for people to achieve success in the future after filing. Allmand Law Firm, PLLC would like to dispel the myth that bankruptcy and success are somehow mutually exclusive of one another, and focus on how bankruptcy is designed to help people rather than to punish them. Take, for ...
    Continue Reading
  • What You Need to Know About Filing for Bankruptcy More Than Once

    Posted By Allmand Law Firm, PLLC || 19-Aug-2015

    Financial troubles can happen to anyone. Even the most financially responsible people can experience hardships that lead them into overwhelming debt, including the loss of a job, a long-term illness, or any other unforeseen personal crisis. Debt troubles can happen at any time and may happen more than once, and thankfully, bankruptcy can be an option to get the relief you need. How often you can ...
    Continue Reading
  • What to Expect During a Meeting of Creditors

    Posted By Allmand Law Firm, PLLC || 3-Aug-2015

    When you file for bankruptcy, you will have to attend a hearing conducted by your bankruptcy trustee called a “meeting of creditors” or a 341 hearing. The purpose of this meeting is to allow the bankruptcy trustee an opportunity to ask you questions about the information you have provided in your bankruptcy petition, schedules, and other documentation. You will have to answer these ...
    Continue Reading
  • Four Bankruptcy Myths Busted

    Posted By Allmand Law Firm, PLLC || 15-Jul-2015

    Every year, over one million people file for bankruptcy. While some people might assume that filing means that a person can’t control their spending habits (in some cases this may be true, but certainly not all), there are plenty of other good reasons why a person might choose bankruptcy. Below, we have identified and busted the top four myths about bankruptcy. Bankruptcy will eliminate all ...
    Continue Reading
  • Reasons to File Bankruptcy at the Beginning of the New Year

    Posted By Allmand Law Firm, PLLC || 16-Jan-2015

    If you ask any bankruptcy lawyer what they feel the best time is for filing bankruptcy, you'll likely hear a resounding, "Now!" In truth, waiting around to file bankruptcy increases your risk for wage garnishments, lawsuits, auto repossession, and even foreclosure of your home. The New Year is here now, and there are many reasons why you should consider January as a good starting ...
    Continue Reading
  • Are Funds in an Inherited IRA Protected in Bankruptcy?

    Posted By Allmand Law Firm, PLLC || 11-Sep-2014

    The Supreme Court finally addressed the issue of when an IRA does not count as a retirement account. For nearly ten years, the question of whether inherited IRAs are protected during bankruptcy has gone unanswered. Finally, the Supreme Court has answered it with a unanimous no. In Clark v. Rameker, Heidi Heffron-Clark filed for bankruptcy nine years after inheriting her mother's IRA. When the ...
    Continue Reading
  • I Just Received a Motion for Relief from Stay: What Do I Do?

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

    A consumer facing a insurmountable financial burden many times pursue either a Chapter 7 or a Chapter 13 bankruptcy. A Chapter 7 bankruptcy provides a consumer relief in the form of what is known as a discharge from a good portion of his or her debts. On the other hand, relief in a Chapter 13 proceeding involves the development of a payment plan. Through a Chapter 13 plan, a consumer pays off his ...
    Continue Reading
  • Are My Children's Assets Protected in Bankruptcy?

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

    When you file bankruptcy protection debtors are required to list their assets. This information is recorded in Schedule C of your filing documents or your petition. If you have children you may have concerns about their property and whether bankruptcy can assist in keeping them away from creditors. In most cases, this is not an issue to worry about but there are situations you may want to discuss ...
    Continue Reading
  • Do You Have to Repay What You Owe in Bankruptcy or Can I Eliminate All Debts?

    Posted By Allmand Law Firm, PLLC || 24-Apr-2014

    Do You Have to Repay What You Owe in Bankruptcy ? The answer depends on which chapter you file. Chapter 13 bankruptcy is court-approved repayment plan that helps debtors make affordable payments on debt obligations. Chapter 7 bankruptcy can eliminate qualifying debts through a discharge approved by the court. Once you have a better idea where you stand with your finances and how you qualify for ...
    Continue Reading
  • Options for When You Cannot Afford a Bankruptcy Attorney

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

    One of the best ways to learn more about your options when considering filing bankruptcy is to do your homework by researching what is available. You can also discuss your situation with a qualified bankruptcy attorney that can provide further insight to help you make an informed decision. Even though you may feel as if you cannot afford to pay an attorney, there are a few options to consider that ...
    Continue Reading
  • 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 ...
    Continue Reading
  • 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 ...
    Continue Reading
  • 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 ...
    Continue Reading
  • 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 ...
    Continue Reading
  • The Bankruptcy Discharge: Why It Is Important to Be Honest During Filing Procedures

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

    Being honest during your bankruptcy can make the filing process easier to complete with increased chances of getting the outcome you want. For many debtors this includes bankruptcy discharge, eliminating or wiping out debt. You may think things are complete upon being granted a discharge of debts, but if you were not honest during proceedings your discharge can be revoked; meaning, you can once ...
    Continue Reading
  • Filing Bankruptcy When You Become Employed Again

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

    There are debtors who feel filing bankruptcy may not be necessary when they are unemployed. But as time goes by, you have been unable to repay debt obligations or you have no assets for creditors to seize. When you gain employment again you may start thinking about your finances with intentions of getting back on track. This includes protecting assets such as income you'll start earning at ...
    Continue Reading
  • 3 Common Reasons Why a Personal Bankruptcy Is Filed

    Posted By Allmand Law Firm, PLLC || 24-Feb-2014

    Each year roughly 1 million cases are filed in bankruptcy court. During 2012 it was estimated that hundreds of thousands of petitions filed included foreclosure, but this wasn't the prime reason why many filed. A recent study took a look at why many cases were filed that year, with some surprising results. While many households have issues related to medical needs, job loss, changes in income, ...
    Continue Reading
  • What You Should Know About Tax Refunds and Bankruptcy

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

    Your Tax Refunds and Bankruptcy Tax season often raises questions about what will happen to a tax refund if bankruptcy is filed. This can be the best time to discuss your questions and concerns with an experienced bankruptcy attorney. In many cases it is about timing depending on your unique situation. It may be best for you to postpone your filing until after you have received and spent your ...
    Continue Reading
  • 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 ...
    Continue Reading
  • 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 ...
    Continue Reading
  • 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 ...
    Continue Reading
  • 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 ...
    Continue Reading
  • 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 ...
    Continue Reading
  • 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 ...
    Continue Reading
  • 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 ...
    Continue Reading
  • 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 ...
    Continue Reading
  • 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 ...
    Continue Reading
  • 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 ...
    Continue Reading
  • 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 ...
    Continue Reading
  • Bankruptcy May Help You Keep More Than You Think

    Posted By Allmand Law Firm, PLLC || 31-Dec-2013

    A recent report released by the National Consumer Law Center (NCLC) shows evidence that debt collectors may be forcing more families into poverty. The report claims that many states across the country may not offer as much protection to consumers from debt collectors that allow them to sustain necessary living needs when it comes to satisfying a judgment with seizing assets. On a grade scale of A ...
    Continue Reading
  • When You Have Doubts about Debt Obligations before Bankruptcy

    Posted By Allmand Law Firm, PLLC || 27-Dec-2013

    Whether you plan to file bankruptcy in the near future or it is something you are considering, one aspect to help you understand your financial situation includes reviewing outstanding debts owed. Many consumers have a good idea of which creditors they owe, but sometimes things can become questionable when a debt collector contacts you out of nowhere and claims you owe them money. You don't ...
    Continue Reading
  • Filing for Bankruptcy When You Can't Afford an Attorney

    Posted By Allmand Law Firm, PLLC || 23-Dec-2013

    Many debtors feel bankruptcy is their final option in helping them regain financial control. While there are filing fees and credit counseling fees that are required, many wonder how they can pay if they can't afford to pay their creditors. You may even have the notion of saying why bother paying for an attorney when that money can be put toward my bills? There are a few valid points to review ...
    Continue Reading
  • Do You Really Need to Report Discharged Debt in Bankruptcy on Your Taxes?

    Posted By Allmand Law Firm, PLLC || 16-Dec-2013

    Reporting Discharged Debt in Bankruptcy on Your Taxes Some people may wonder if they need to report the amount of debt they got discharged in bankruptcy when they file their taxes. For the most part, this may not be anything to worry about although it is something you can review with your bankruptcy attorney or tax consultant for clarity purposes. There are several reasons why you may not need to ...
    Continue Reading
  • One Common Concern that Keeps Consumers from Filing Bankruptcy

    Posted By Allmand Law Firm, PLLC || 13-Dec-2013

    Is filing for bankruptcy really as damaging as you think it is? For a while, people have been avoiding bankruptcy because of the supposed negativity that happens afterwards. Things really have changed and as more consumers get educated about bankruptcy and how it can help you, you may see this option in a new light. It is true your credit score may be affected but many who have filed say it has ...
    Continue Reading
  • Can Online Payday Loans Be Discharged in Bankruptcy?

    Posted By Allmand Law Firm, PLLC || 10-Dec-2013

    Online Payday Loans and Bankruptcy Consumers who find themselves in a bind may consider getting a payday loan or cash advance against their next paycheck. There are local locations in which you may apply for a payday loan in person and get the cash you need right away to take care of important expenses. Then you have online lenders that simplify the process and help you get funds sooner without ...
    Continue Reading
  • What You May Not Know About Pre-Bankruptcy Planning

    Posted By Allmand Law Firm, PLLC || 22-Nov-2013

    If you are concerned about the possibility of losing an asset, then you may want to review options on how to protect them legally prior to filing bankruptcy. Most debtors who file either chapter (Chapter 7 or Chapter 13 bankruptcy) have been able to keep their property after getting a better understanding of how to do it properly. There are some aspects to consider in relation to asset protection ...
    Continue Reading
  • The Importance of Getting Good Bankruptcy Advice

    Posted By Allmand Law Firm, PLLC || 19-Nov-2013

    Sometimes you may hear about a person filing bankruptcy and their case may not have the ending they were looking for. Sometimes a case can be dismissed or the debtor could end up losing their assets when they decide to do things differently instead of going by the code. Other times a poor result may come from receiving bad advice on how to go about filing for bankruptcy. This is why consumers are ...
    Continue Reading
  • Filing Bankruptcy: Which Chapter Do You File?

    Posted By Allmand Law Firm, PLLC || 15-Nov-2013

    Have you ever asked yourself, "What chapter bankruptcy should i file?" When bankruptcy is an option you are considering it is likely you may have questions about which chapter you should file. Some debtors wonder if they can choose which chapter to file or should they consider one over the other. Most people file either Chapter 7 bankruptcy or Chapter 13 bankruptcy, but it depends on ...
    Continue Reading
  • Bankruptcy Exemptions: Understanding Their Role before You File

    Posted By Allmand Law Firm, PLLC || 14-Nov-2013

    If you wonder how people are able to keep their assets when they go through bankruptcy, it is because they used exemptions provided through the bankruptcy code. Just because you are unable to pay your creditors doesn't mean you should be penalized by having all of your possessions being taken away from you. People think this is the case, but understanding this in deeper detail before you file ...
    Continue Reading
  • If I File Bankruptcy Will It Affect My Kids?

    Posted By Allmand Law Firm, PLLC || 13-Nov-2013

    As parents you try to do everything you can to ensure the well-being of your family. Sometimes it can be difficult to talk to your children about financial problems, especially when you can't afford to get them that special something they wanted. Other parents may not think their filing will affect their children, and in many cases, it doesn't. It helps to review possible circumstances ...
    Continue Reading
  • How Much Time Can Pass Before I File Bankruptcy Again?

    Posted By Allmand Law Firm, PLLC || 12-Nov-2013

    If you filed bankruptcy in the past you may have questions about whether to file again. Understanding when you can file again is important to help save time and money. But, technically speaking, if you received a discharge when you filed previously, this helps in determining when you can file again, if you are looking to get another discharge. Depending on when you want to file and the chapter, ...
    Continue Reading
  • 4 Things You Should Not Do Before Filing Bankruptcy

    Posted By Allmand Law Firm, PLLC || 11-Nov-2013

    Most debtors who file bankruptcy want to complete the process as soon as possible to get the relief they need. Yet, doing certain actions beforehand can hinder the end result of your case. Consumers are encouraged to learn about the filing process, but you should also keep in mind of actions to avoid if you are considering legal protection. It bears repeating things to avoid since some people ...
    Continue Reading
  • Does a Certain Amount of Debt Make You Eligible for Bankruptcy?

    Posted By Allmand Law Firm, PLLC || 8-Nov-2013

    How Much Debt Makes You Eligible for Bankruptcy? Some debtors wonder if you have to have a specific amount of debt in order to file for bankruptcy protection. In most cases you do not need a set amount of debt to file, but it depends on which chapter you are seeking protection with and other details relating to meeting qualifications. For instance, most Chapter 7 bankruptcy filers may not need a ...
    Continue Reading
  • Things Are Looking Up When It Comes to Filing Bankruptcy

    Posted By Allmand Law Firm, PLLC || 7-Nov-2013

    Financial experts actually have good things to say about bankruptcy. While filings increased greatly during the recession in 2008, the sudden surge of filers during this time was scrutinized by some experts as an unacceptable way for people to get rid of outstanding debt. But, if you are truly in a situation in which you can no longer afford to pay what you owe; bankruptcy may be the solution you ...
    Continue Reading
  • 3 Things You Should Do Before Filing Bankruptcy

    Posted By Allmand Law Firm, PLLC || 4-Nov-2013

    Dealing with the reality of your financial situation may feel like a heavy burden, but filing for bankruptcy protection may be the only viable solution to get the relief you need. As an important step in regaining control over your finances, there are a few crucial steps you should take when making the decision to begin the filing process. The following things are a few of the most important ...
    Continue Reading
  • Filing Bankruptcy: How Do You Start the Process?

    Posted By Allmand Law Firm, PLLC || 31-Oct-2013

    So, you have decided to file bankruptcy. While this option may be a difficult decision to make, it is significant as you have gotten even closer to establishing the fresh start and financial control you deserve. But, filing does include several processes including filling out forms, completing credit counseling, and appearing before a judge. It helps to review the process in detail with your ...
    Continue Reading
  • Debt Relief and Bankruptcy: A Guide for Helping You Understand Options

    Posted By Allmand Law Firm, PLLC || 29-Oct-2013

    Every year over one million consumers use bankruptcy as a way to help resolve their debt obligations. Bankruptcy is a unique financial process that includes court-supervision to help stop legal action such as lawsuits, wage garnishment, collections, foreclosure and repossession. While bankruptcy is a powerful tool, you may wonder if it is the best option for you when overwhelmed with debt. The ...
    Continue Reading
  • 7 Questions about Bankruptcy to Get Answers to Before Filing

    Posted By Allmand Law Firm, PLLC || 28-Oct-2013

    Bankruptcy is used by millions of consumers to help them regain financial control. As a significant financial tool it has been used to help stop repossession, foreclosure, and wage garnishment. You can obtain the fresh start you need or get help repaying obligations based on what you can afford without paying interest. It is common to have questions about the process as complications may arise ...
    Continue Reading
  • What Debtors May Not Think about When Filing Bankruptcy on Their Own

    Posted By Allmand Law Firm, PLLC || 25-Oct-2013

    Debtors have the option of filing "pro se" (Latin phrase meaning for oneself), but they are warned the process includes levels of complication when tackled without a Fort Worth bankruptcy lawyer. Some think the process is simple since you can easily download forms required online to get your case filed. Although if you fail to file the forms completely and correctly, your case could be ...
    Continue Reading
  • Can You Be Discriminated Against if You File Bankruptcy?

    Posted By Allmand Law Firm, PLLC || 24-Oct-2013

    Bankruptcy and Discrimination In most cases, you cannot be discriminated against because you filed for bankruptcy protection. There are agencies and businesses that may not deny, suspend, or revoke opportunities or privileges because of a bankruptcy filing. Yet, keep in mind there are a few establishments where rules are not as strict depending on the entity. It is illegal for local, state, and ...
    Continue Reading
  • How Long Does a Bankruptcy Case Last?

    Posted By Allmand Law Firm, PLLC || 18-Oct-2013

    How long a bankruptcy case lasts depends on which chapter you file. Chapter 7 bankruptcy can eliminate or discharge eligible debt within a matter of months. Chapter 13 bankruptcy can help you repay debt obligations within an average of 3 to 5 years. Since each person's situation varies, the length of your case may also vary depending on your unique circumstances. Chapter 7 cases completed ...
    Continue Reading
  • 5 Questions to Ask Yourself If You are Considering Bankruptcy

    Posted By Allmand Law Firm, PLLC || 16-Oct-2013

    Deciding to file for bankruptcy is a major step toward financial freedom, that is, once you explored all of your options and thoroughly examined your situation. In getting an idea of whether filing is best for you, there are a few questions to think about that may put your circumstances into a better perspective. How will bankruptcy help if you file? Answering this may depend on personal goals and ...
    Continue Reading
  • Can Bankruptcy Be the Answer to Your Financial Woes?

    Posted By Allmand Law Firm, PLLC || 8-Oct-2013

    While studies have shown that over the past year alone, bankruptcy filings have shown a slight decrease, this doesn't necessarily mean the economy is improving. A number of consumers have cut back on spending and borrowing since the housing market collapse in 2007. But, as people try to stick to reasonable budget, dealing with other pressing issues can take its toll on how you can regain ...
    Continue Reading
  • 9 Reasons Why Consumers File Bankruptcy

    Posted By Allmand Law Firm, PLLC || 3-Oct-2013

    There are times filing bankruptcy is necessary in order to maintain a level head and to keep from drowning in debt. If you find yourself relating to any of the following reasons, you may want to discuss your situation further with an experienced bankruptcy attorney. Obtain a fresh start. You don't have to keep struggling in getting ahead with your finances when you have legal options that can ...
    Continue Reading
  • Can I Lose My Job if I File Bankruptcy?

    Posted By Allmand Law Firm, PLLC || 2-Oct-2013

    Losing Your Job If You File Bankruptcy In most cases, bankruptcy has no effect on current or future employment. Many consumers new to the bankruptcy filing process may worry about suffering potential consequences if they decide to file. This is a common question asked about at the beginning of the filing process. For the most part, the bankruptcy code includes a special section that prohibits ...
    Continue Reading
  • 5 Reasons Why Consumers Do Not File Bankruptcy

    Posted By Allmand Law Firm, PLLC || 1-Oct-2013

    Sometimes the reason why you think you can't do something is from not knowing enough information in the first place. Bankruptcy is one of those things for a lot of people. There are times people may give up on their finances when the solution to their problem is right in front of them. It is just a matter of getting clarification from a bankruptcy expert. The following reasons are a few common ...
    Continue Reading
  • What You May Not Know about Bankruptcy Exemptions

    Posted By Allmand Law Firm, PLLC || 30-Sep-2013

    Bankruptcy exemptions play a big role during bankruptcy proceedings and they have different effects on each chapter filed. In short, they help you protect property and assets, while helping to keep repayment plan payments affordable. Each state has exemptions at different levels and they are available at the federal level to provide additional protection. If you want to know how you are able to ...
    Continue Reading
  • Questions You Should Ask an Attorney When Ready to File Bankruptcy

    Posted By Allmand Law Firm, PLLC || 27-Sep-2013

    If you are thinking about contacting a Fort Worth bankruptcy attorney, you probably have concerns about what to ask. You may be considering bankruptcy if you have been struggling to make payments on debt obligations. Talking with a qualified attorney can be a significant step toward gaining financial control, but at the same time, you want to make the best of your time by getting valuable ...
    Continue Reading
  • Thinking about Hiding Information in Bankruptcy? Think Again!

    Posted By Allmand Law Firm, PLLC || 25-Sep-2013

    Every year there seems to be more cases of people concealing details about their assets in bankruptcy. Too many people are under the impression they will lose what they have to creditors when they file, and feel the need to hide it in order to protect it. Such actions are considered unlawful and you can face serious criminal charges. Need more encouragement and understanding of why it is important ...
    Continue Reading
  • What Does a Trustee Do in Bankruptcy?

    Posted By Allmand Law Firm, PLLC || 24-Sep-2013

    A bankruptcy trustee helps administer the case while it proceeds through the court process. The trustee is actually a part of a U.S. Trustee program developed through the Bankruptcy Reform Act of 1978 under the Department of Justice through the Attorney General. Depending on which chapter is filed, the role of the trustee varies. In Chapter 7 bankruptcy, the trustee may liquidate assets the debt ...
    Continue Reading
  • Do You Have to List All Debt Collection Agencies in Bankruptcy?

    Posted By Allmand Law Firm, PLLC || 19-Sep-2013

    Some debtors may get confused about the aspect of listing all debts when you file your petition. You are required by the bankruptcy court to submit all details in relation to outstanding debts, including creditors that are owed and their outstanding balances. But, what happens when more than one collection agency gets a hold of one delinquent debt? Do you have to list each agency or just the ...
    Continue Reading
  • Using Bankruptcy to Help Keep Your Business Afloat

    Posted By Allmand Law Firm, PLLC || 10-Sep-2013

    Small business owners can benefit from bankruptcy in a number of ways. Aside from using this powerful financial tool to help eliminate business debt, you can get legal assistance in restructuring or reorganizing your financial obligations. This may help you gain more control over business finances while remaining in business. There are a few aspects to think about when considering bankruptcy as a ...
    Continue Reading
  • When Should You File Bankruptcy?

    Posted By Allmand Law Firm, PLLC || 9-Sep-2013

    Some people may wonder if there is a specific time you should file for bankruptcy protection. Better yet, is there a good time to begin the filing process? In most cases, it depends on personal circumstances in your situation. Each person has different needs and this makes each case unique. Most who file are seeking to obtain the relief they need to manage their finances. In understanding whether ...
    Continue Reading
  • What Rights as a Debtor do I have when Filing for Bankruptcy?

    Posted By Allmand Law Firm, PLLC || 4-Sep-2013

    One of the reasons why debtors seek bankruptcy protection is to stop harassing collection attempts from creditors. While anyone should not be subject to such abusive measures, debtors have rights you need to know in order to protect yourself, even before you decide to file for legal protection. There are a number of debt collection agencies over the last few years that have been investigated and ...
    Continue Reading
  • Do You Have to be Insolvent to File Bankruptcy?

    Posted By Allmand Law Firm, PLLC || 3-Sep-2013

    Being "bankrupt" and not being able to pay your debts should be considered two different situations. You often hear people throw around the term or expression of going "bankrupt" when they file bankruptcy protection. Yet, it may not necessarily mean you can't pay what you owe. When a consumer is considered insolvent they may be unable to take care of their financial ...
    Continue Reading
  • What If I Have No Assets But Need to File Bankruptcy?

    Posted By Allmand Law Firm, PLLC || 28-Aug-2013

    I Want to File Bankruptcy But I Have No Assets! Many who claim to have no assets file Chapter 7 bankruptcy. This is sometimes referred to as a Chapter 7 no-asset bankruptcy. In many cases, the process goes by quickly since the trustee won't have any property or assets to satisfy creditors with. Many consumers don't realize that a large number of Chapter 7 cases filed are considered ...
    Continue Reading
  • Would I Be Personally Liable for Business Debt in Bankruptcy?

    Posted By Allmand Law Firm, PLLC || 27-Aug-2013

    As an individual, being responsible for business debt in bankruptcy likely depends on the structure of your business. In some cases it may depend on how it was developed or formed. Many who seek to file for protection may operate a business as a sole proprietor, partnership, corporation or limited liability company (LLC). If you are the sole business owner of your business, meaning it is not ...
    Continue Reading
  • Is My Spouse Liable for Business Debts in Bankruptcy?

    Posted By Allmand Law Firm, PLLC || 23-Aug-2013

    Business Debt and Your Spouse As a business owner, determining whether your spouse is liable for what is owed in a bankruptcy filing depends on how your business is structured and the debt incurred. In many situations, for married couples it depends on where you live. In other words, an aspect you may need to consider is how common law and community property states handle such situations. A few ...
    Continue Reading
  • 3 Points to Consider When Filing for Bankruptcy

    Posted By Allmand Law Firm, PLLC || 19-Aug-2013

    Deciding to file for bankruptcy is a significant step toward improving your finances. Whether you have decided to file Chapter 7 or Chapter 13 bankruptcy, one of the most important steps you should take includes getting to know the process and what to expect. In this sense, it helps to make the filing process easier when you know what lies ahead. Take time to plan ahead before your case is filed. ...
    Continue Reading
  • What is Significant about the Automatic Stay in Bankruptcy?

    Posted By Allmand Law Firm, PLLC || 14-Aug-2013

    The automatic stay is one of the reasons why bankruptcy can be a powerful tool in helping you regain control of your finances. It is often seen as a stop sign to creditors or anyone looking to proceed with legal action against you. Whether you are behind on paying your bills or feel repossession is imminent, the automatic stay may help give you more time to sort out a solution. The automatic stay ...
    Continue Reading
  • What Are Bankruptcy Exemptions?

    Posted By Allmand Law Firm, PLLC || 30-Jul-2013

    Bankruptcy exemptions play a significant role during the filing process. They help debtors obtain protection for their assets and personal property against creditors. In short, exemptions provide legal options for debtors to keep their possessions during and after bankruptcy. Chapter 7 bankruptcy exemptions help determine what you can keep, while Chapter 13 bankruptcy exemptions help debtors ...
    Continue Reading
  • How to Keep Assets Legally Protected in Bankruptcy

    Posted By Allmand Law Firm, PLLC || 29-Jul-2013

    Filing for bankruptcy can help you keep your assets legally without having them seized by creditors to satisfy an outstanding balance or past due debt. Yet, some who file think they need to hide or withhold information about their personal property in order to retain it. This action may lead to bankruptcy fraud charges, hefty fines and imprisonment. You can easily avoid hiding details by being ...
    Continue Reading
  • When to Consider Filing a Joint Bankruptcy Petition

    Posted By Allmand Law Firm, PLLC || 23-Jul-2013

    Married couples may benefit from filing a joint bankruptcy petition under certain circumstances. Couples may save money during the process and gain adequate protection for assets and property between them. Yet, there are a few details to review in understanding the process and whether a joint petition is the best option. The process is similar to an individual filing, except debts, income, ...
    Continue Reading
  • What You Need to Know When You Are Ready to File Bankruptcy

    Posted By Allmand Law Firm, PLLC || 16-Jul-2013

    Whether you are struggling in getting debt obligations paid such as medical bills, personal loans, credit card debt, mortgage payments, or student loan debt, chances are you are not alone. Every year bankruptcy is filed by millions of consumers who are tired of struggling in trying to make ends meet and want a fresh start. As a legal financial process that can help eliminate or reduce your debt, ...
    Continue Reading
  • Can I File Bankruptcy If I Have Little or No Income?

    Posted By Allmand Law Firm, PLLC || 12-Jul-2013

    Filing Bankruptcy With Little or No Money Filing for bankruptcy with limited income is possible, but it often depends on personal circumstances. In such situations, debtors may qualify to file Chapter 7 instead of Chapter 13 bankruptcy. In Chapter 13, you agree to a repayment schedule approved by the court based on your ability to repay. If your debt obligations qualify for discharge or complete ...
    Continue Reading
  • Why It's Important to Have a Bankruptcy Consultation

    Posted By Allmand Law Firm, PLLC || 11-Jul-2013

    The Importance of Bankruptcy Consultations When considering bankruptcy as an option to get you the financial relief you are seeking, taking the time to consult with a bankruptcy expert can make a big difference in how you proceed in choosing the best solution. This is the perfect opportunity to gain clarity about the process and whether it is the best solution for your situation. It is also the ...
    Continue Reading
  • What Happens in Bankruptcy When a Discharge Gets Denied?

    Posted By Allmand Law Firm, PLLC || 10-Jul-2013

    When a Bankruptcy Discharge is Denied Most debtors seeking to have debt eliminated or discharged may have the action granted by the bankruptcy court. Although a discharge can be denied and in many cases it is due to the debtor doing something they should have avoided. It is important to note that when a discharge is denied, it may not necessarily mean the case is dismissed. But, it often depends ...
    Continue Reading
  • Understanding Limitations in Bankruptcy

    Posted By Allmand Law Firm, PLLC || 9-Jul-2013

    What are the Limitations of Filing Bankruptcy? Many refer to bankruptcy as being a powerful financial tool that can help eliminate or restructure your finances. When you are considering filing for protection, you should know what debt is eligible for discharge since all debts cannot be wiped out. Certain debts, such as credit card debt and medical bills, may be wiped out in either Chapter 7 or ...
    Continue Reading
  • Lies about Bankruptcy that Keep People from Filing

    Posted By Allmand Law Firm, PLLC || 5-Jul-2013

    Everyone agrees that bankruptcy is a powerful financial tool that can help you obtain a fresh start. Yet there continues to be myths, misconceptions, and misunderstandings about the purpose of bankruptcy and its related processes. A number of bankruptcy professionals who are familiar with such misconceptions can probably write a few books about reasons why people do not file. Some people have ...
    Continue Reading
  • What You Should Know When Filing Bankruptcy with Credit Card Debt

    Posted By Allmand Law Firm, PLLC || 3-Jul-2013

    The most common form of debt in the United States is credit card debt. There are millions in circulation by a number of creditors with Chase bank alone having more than 100 million in 2008. While most people feel it is not a big deal to have credit card debt, some who find themselves in a financial crunch can find it difficult to make payments with increasing interest rates, hidden fees, and ...
    Continue Reading
  • Why It Is Important To Understand Differences Between Bankruptcy Chapters?

    Posted By Allmand Law Firm, PLLC || 27-Jun-2013

    Understanding differences between bankruptcy chapters can make a big difference in helping you obtain a favorable outcome for your situation. Most bankruptcies filed by individuals and small businesses include Chapter 7 and Chapter 13. When it comes to understanding which chapter you should file, your debt, income, assets, and financial goals will have a significant influence on which option is ...
    Continue Reading
  • Will My 401 (k) Be Protected in Bankruptcy?

    Posted By Allmand Law Firm, PLLC || 26-Jun-2013

    401(k) and Bankruptcy Many who file for bankruptcy qualify for protection of their 401(k), while being able to discharge or eliminate debt. This is common concern debtors have for a number of reasons. Some who are thinking about filing may receive funds from their 401(k) as their only form of income, especially if they are retired. Some may be struggling to pay bills such as credit card and ...
    Continue Reading
  • 5 Actions to Consider Before Filing Bankruptcy

    Posted By Allmand Law Firm, PLLC || 24-Jun-2013

    Filing for bankruptcy can help you eliminate or regain control of your financial obligations. Keep in mind, it may not be the only option for you to consider, but many see it as a last resort when they have done other actions to try and resolve financial issues. Bankruptcy experts and credit counselors even suggest reviewing multiple options before making the decision to file. In doing this, there ...
    Continue Reading
  • Does Bankruptcy Offer Protection for a Mobile Home?

    Posted By Allmand Law Firm, PLLC || 21-Jun-2013

    Keeping Your Mobile Home in Bankruptcy Keeping your mobile home in bankruptcy may depend on a few legal factors. Many debtors who seek protection for property such as a mobile home qualify for protection under certain exemptions available when you file. In most cases, it will depend on the state you live in and what exemptions are available for protection. Other factors to consider include whether ...
    Continue Reading
  • Why Planning Ahead Before Filing Bankruptcy Can Help You Save Money

    Posted By Allmand Law Firm, PLLC || 17-Jun-2013

    Many people may not realize that planning ahead for bankruptcy may help you save money, aside from protecting your assets. Planning ahead includes taking a number of important steps to ensure you complete the process faithfully to the best of your knowledge. Taking time to get advice from informed professionals can help you obtain a favorable outcome for your case. Being prepared to file is one ...
    Continue Reading
  • What You Should Know When You Are Ready to File Bankruptcy

    Posted By Allmand Law Firm, PLLC || 11-Jun-2013

    Filing bankruptcy can give you the relief you need when the time is right to file. Some people are quick to say that the process may do more harm than good, but for many who have filed (including a long list of celebrities), it is the beginning of a getting your finances and your life back on track. There is nothing wrong with seeking legal protection to help get your financial obligations back in ...
    Continue Reading
  • Regaining Financial Control in Bankruptcy

    Posted By Allmand Law Firm, PLLC || 10-Jun-2013

    Filing for bankruptcy can be a responsible option for anyone looking to regain control of their financial obligations. Over 1,000,000 Americans sought bankruptcy protection in 2012 with many filing for legitimate reasons such as divorce, illness and job loss. The decision to file for many is a serious personal step that was a challenge to make. Bankruptcy is a legal process designed to help ...
    Continue Reading
  • Simplifying the Process in Finding a Bankruptcy Attorney

    Posted By Allmand Law Firm, PLLC || 7-Jun-2013

    When you find yourself overwhelmed with debt and you decide enough is enough, you are ready to file for bankruptcy. There are a number of bankruptcy lawyers who are qualified to help you get the relief you are seeking. But, of course then comes the important task of choosing who you want to establish a working relationship with. Sometimes getting a referral from friends and family can be a good ...
    Continue Reading
  • Can I File Bankruptcy If I Can't Afford Filing Fees?

    Posted By Allmand Law Firm, PLLC || 5-Jun-2013

    Can't Afford to File Bankruptcy? Hiring a Fort Worth or Dallas bankruptcy attorney to help you complete the filing process is often recommended to ensure a successful outcome. Many who claim they are unable to pay on their outstanding debt will wonder how they can afford legal representation. This is a common reason why debtors will try to file for protection on their own or "pro ...
    Continue Reading
  • Does Income of Both Spouses Need to Be Reported in Bankruptcy if Only One Spouse is Filing?

    Posted By Allmand Law Firm, PLLC || 4-Jun-2013

    When you file bankruptcy protection you are required to report household income to determine eligibility of the chapter you wish to file. The same is true for married couples who file a joint bankruptcy or a married person filing an individual petition. In other words, you are required to report income of your spouse even though you are filing for protection as an individual. Whether your ...
    Continue Reading
  • When Bankruptcy is Necessary for an Incompetent Debtor

    Posted By Allmand Law Firm, PLLC || 3-Jun-2013

    Most often when you think about filing bankruptcy the process is completed by the debtor seeking protection. Yet, there are special circumstances in which a debtor may not be able to file a petition due to mental, physical, or financial challenges. It may actually make sense for them to file bankruptcy, but they are unable to make important decisions on their own; in other words they are not ...
    Continue Reading
  • Does Bankruptcy Protect Workers Compensation Benefits?

    Posted By Allmand Law Firm, PLLC || 29-May-2013

    Bankruptcy and Workers Compensation Workers compensation benefits are funds made payable to an individual who was injured while on the job and unable to perform their duties due to the injury. The compensation may be considered a main source of income for the household. If bankruptcy is an option it is common to wonder if benefits can be protected from creditors, and will they continue receiving ...
    Continue Reading
  • Understanding the Significance of What Bankruptcy Can Do For You

    Posted By Allmand Law Firm, PLLC || 24-May-2013

    Bankruptcy is one of the most powerful tools consumers can utilize to regain financial control. When considering this option you should get a clear idea as to how it can help improve your situation. It may help you eliminate qualifying debt obligations while helping you reestablish others. Plus, depending on your situation one chapter may be preferred over the other. Chapter 7 bankruptcy can help ...
    Continue Reading
  • How Bankruptcy Can Help You Get Your Driver's License Reinstated

    Posted By Allmand Law Firm, PLLC || 14-May-2013

    Driver's License Suspension Due to Outstanding Debt Depending on state law regulations, a motorist may have their driver's license suspended if they have an outstanding debt related to a civil judgment. For instance, back child support payments or lack of insurance are common reasons why someone may have their license put under suspension. While it is true a suspension is a consequence, ...
    Continue Reading
  • Does Bankruptcy Offer Protection for Life Insurance Policies?

    Posted By Allmand Law Firm, PLLC || 9-May-2013

    Bankruptcy and Life Insurance Policies It is possible to have your life insurance policy be protected in bankruptcy under certain circumstances. While there are different types of life insurance, this information pertains to simplified whole life and term life insurance policies since a wide majority of consumers have these types most often. There are factors to review in understanding how the ...
    Continue Reading
  • Do You Have to Have an Attorney to File Bankruptcy?

    Posted By Allmand Law Firm, PLLC || 7-May-2013

    Consumers have the option of filing for bankruptcy on their own, also known as "pro se," in which you represent yourself. You are not required by law to file bankruptcy with an attorney, but many do not understand the risk they take upon themselves when considering the process without guidance of an experienced attorney. For instance, many are unaware of how complex the filing process ...
    Continue Reading
  • Filing Bankruptcy: When Outstanding Debt Includes a Cosigner

    Posted By Allmand Law Firm, PLLC || 1-May-2013

    A borrower who is establishing credit or has less than perfect credit may have a cosigner help them obtain a loan. A cosigner agrees to pay outstanding debt when the borrower is unable to make payments. It is common to have a cosigner present when applying for a loan on a vehicle, student loan, or even a credit card. Also known as a guarantor or co-debtor, the cosigner agrees to terms of the loan ...
    Continue Reading
  • Why Hiding Assets and Property in Bankruptcy is Never a Good Idea

    Posted By Allmand Law Firm, PLLC || 30-Apr-2013

    Hiding Assets & Personal Property When Filing Bankruptcy Hiding assets and personal property when filing bankruptcy not only jeopardizes the outcome of your case, you may face criminal prosecution and your debt may not get discharged. Not withholding details about personal property cannot be stressed enough as doing this may hurt your chances of discharging debt in subsequent bankruptcies. ...
    Continue Reading
  • Bankruptcy Filings Increase Among Doctors

    Posted By Allmand Law Firm, PLLC || 25-Apr-2013

    While many consumers struggle to make payments on their medical bills, there are doctors facing a similar struggle; except it involves keeping their businesses afloat. The American Bankruptcy Institute's health care committee has noticed a spike in Chapter 11 bankruptcy filings by doctors with 8 being filed in recent weeks alone. Industry experts have noticed the trend increasing over the ...
    Continue Reading
  • Should a Personal Loan Owed to a Family Member or Friend Be Included When Filing Bankruptcy?

    Posted By Allmand Law Firm, PLLC || 24-Apr-2013

    Personal Loans Eligible to Be Discharged in Bankruptcy One of the most important elements debtors should review when considering bankruptcy is how personal debt is handled by the court. When you file, you are required to list outstanding debt including loans owed to friends or family. Depending on the chapter you file they are handled differently. For the most part, these types of personal loans ...
    Continue Reading
  • Can Pay Day Loans be Wiped Out or Repaid in Bankruptcy?

    Posted By Allmand Law Firm, PLLC || 23-Apr-2013

    Pay Day Loans and Bankruptcy Payday loans, also known as a cash advance, are short-term loans borrowers obtain against their next paycheck. While they seem convenient in helping you get necessary expenses covered between pay days, many find themselves trapped in trying to break the cycle of getting it paid without the need to take it out again. Due to high interest rates, you end up repaying more ...
    Continue Reading
  • Protecting Assets in Bankruptcy: Personal Property Debtors Commonly Forget to List When Filing

    Posted By Allmand Law Firm, PLLC || 22-Apr-2013

    When bankruptcy is filed, debtors are required to list assets and personal property as part of the bankruptcy estate. While common items such as saving accounts, jewelry, homes and vehicles are included, there are assets that some may forget to mention upon filing their petition. Debtors who realize they may have forgotten to list an asset may worry or panic. They don't want their trustee or ...
    Continue Reading
  • Can Bankruptcy Reduce My Mortgage or Vehicle Payment?

    Posted By Allmand Law Firm, PLLC || 11-Apr-2013

    Bankruptcy may help reduce your vehicle payment but your mortgage payment may not have the same option. In other words, depending on which chapter you file you may be able to have your vehicle payment reduced, reaffirm your loan agreement with the lender, or set up a payment arrangement that helps you get caught up on missed or defaulted payments. Chapter 7 bankruptcy can eliminate or discharge ...
    Continue Reading
  • Can My Mortgage Lender Refuse Payment While In Bankruptcy?

    Posted By Allmand Law Firm, PLLC || 10-Apr-2013

    When Mortgage Companies Refuse Payments While Your In Bankruptcy Some debtors claim their mortgage lender refused payment after they file bankruptcy protection. While this may sound unusual, the lender may decide not to accept payment from you in order not to violate the automatic stay that goes into effect when your petition is filed. When bankruptcy is filed the automatic stay goes into effect. ...
    Continue Reading
  • Understanding Financial Management Course Requirement for Bankruptcy Discharge

    Posted By admin || 9-Apr-2013

    For consumers considering bankruptcy protection, you may be unaware of the credit counseling requirement needed in order to file your petition. There is also a financial management courses that are required in order for debts to be successfully discharged. Many may not be fully aware of the second course requirement since it is different from the credit counseling requirement, or some assume they ...
    Continue Reading
  • Preparing to File Bankruptcy? Documents Needed to Complete the Filing Process

    Posted By admin || 5-Apr-2013

    Making the decision to file bankruptcy brings you one step closer to achieving the fresh start you're looking to achieve. In regaining financial control you want to ensure you follow the process thoroughly in order to obtain a favorable outcome. One of the most important aspects in establishing a positive working relationship between you and your attorney includes providing essential documentation ...
    Continue Reading
  • Can Bankruptcy Help Me Deal With a Credit Card Lawsuit?

    Posted By admin || 3-Apr-2013

    Bankruptcy and Credit Card Lawsuits Bankruptcy has the ability to cease or delay legal action from lawsuits related to credit card debt. How the filing process provides a solution for the issue will likely depend on which chapter you file; whether it be Chapter 7 or Chapter 13. For the most part, debtors may have debt related to the suit discharged or may be required to pay a portion of what is ...
    Continue Reading
  • Why Legal Experts Advise Against Filing for Bankruptcy without an Attorney

    Posted By admin || 1-Apr-2013

    Filing for Bankruptcy Without an Attorney Filing for bankruptcy without an attorney, also known as "pro se," may not be as easy as it seems since it can be a challenge to complete successfully. Cases filed with the bankruptcy court need to be handled appropriately in order for the court to consider discharging debt associated with the filing. Meaning, an experienced bankruptcy lawyer will ...
    Continue Reading
  • Is Credit Counseling Required in Bankruptcy?

    Posted By admin || 28-Mar-2013

    Debtors considering bankruptcy may be aware of the credit counseling requirement needed for filing. You are required to complete a credit counseling course before you file and then a financial management course before your discharge can be granted. This qualification became effective when the bankruptcy code was revised in 2005. The idea is to help debtors become more educated and informed to ...
    Continue Reading
  • Will Filing Bankruptcy Before Getting Married Affect My Future Spouse?

    Posted By admin || 26-Mar-2013

    Bankruptcy and Getting Married In short, if you file for bankruptcy before getting married your future spouse will NOT be affected. This is a common concern for a debtor to bring up during their consultation with an attorney. For some reason, many people are under the impression that a couple shares a credit score or there is a "joint credit score." For the most part, debts incurred by one party ...
    Continue Reading
  • Understanding Differences between Chapter 7 Bankruptcy and Chapter 13 Bankruptcy

    Posted By admin || 18-Mar-2013

    Chapter 7 bankruptcy and Chapter 13 bankruptcy are powerful financial tools that help debtors regain financial control. Many consumers who consider bankruptcy as an option may not review differences between each chapter. In this sense, it is important to understand how each chapter works in order to get a clear idea on how filing may be able to help your unique situation. While it is true ...
    Continue Reading
  • Do I Need to Bring Anything to a Bankruptcy Consultation?

    Posted By admin || 12-Mar-2013

    A bankruptcy consultation is good opportunity to learn more about the filing process while learning whether it is the best option for you. This is the perfect time to ask questions, review concerns, and get clarity on how bankruptcy works. During the consultation, you will discuss your circumstances in further detail and review your options on how you want to move forward. To assist the bankruptcy ...
    Continue Reading
  • What Happens If I Change My Address During Bankruptcy?

    Posted By admin || 6-Mar-2013

    Changing Your Address During Bankruptcy While being in an active bankruptcy case, you may receive correspondence information pertaining to proceedings in the mail. Therefore, any changes that occur should be reported to your bankruptcy trustee or attorney to maintain communication. Debtors should be sure to report any changes in contact information as they happen to ensure they receive important ...
    Continue Reading
  • Debunking Bankruptcy Myths that Keep People from Filing

    Posted By admin || 27-Feb-2013

    Many consumers try to avoid bankruptcy mostly because of false misconceptions and a lack of understanding. While filing may have its pros and cons, it often depends on the situation of the individual. When considering bankruptcy it is important to get sufficient information that can help you make an educated decision about your finances. Get caught up with the facts instead of getting confused and ...
    Continue Reading
  • 4 Qualities of a Good Bankruptcy Attorney

    Posted By admin || 26-Feb-2013

    An important contributing factor in achieving a favorable outcome for your case includes having a good attorney. Choosing the right lawyer to work with during the process is a vital step, but with so many options it's easy to get overwhelmed and confused. Here are a few things to look for when finding an attorney: Experience in practicing bankruptcy. The number of years an attorney has practiced ...
    Continue Reading
  • How to Determine if Bankruptcy Will Wipe Out Your Debt

    Posted By admin || 15-Feb-2013

    Bankruptcy has the ability to wipe out debt, but you'll need to understand which debts qualify to be eliminated if you decide to file. You need to learn about the process and depending on your situation, what it will and will not do for you. This includes reviewing your debt situation, getting an idea of what problems the process will remedy and which debts may not qualify for discharge. ...
    Continue Reading
  • Can I File Bankruptcy if I Receive Public Assistance?

    Posted By admin || 11-Feb-2013

    Bankruptcy and Public Assistance Some debtors are under the impression that receiving public assistance may make them ineligible to file bankruptcy. The truth is you can file if you are receiving public assistance or have low income. With economic uncertainty and the cost of living on the rise, many households are receiving some type of federal assistance to help make ends meet. Bankruptcy is an ...
    Continue Reading
  • Maximizing Bankruptcy Exemptions to Protect Personal Property

    Posted By admin || 7-Feb-2013

    Bankruptcy Exemptions to Protect Personal Property Debtors considering bankruptcy have several options to explore that can help them protect their property. Too often, people get caught up in myths and misconceptions about what happens to personal assets when they file, instead of focusing on how they maximize their exemptions. By conducting some pre-planning prior to your filing, you may be able ...
    Continue Reading
  • When It Makes Sense to File Bankruptcy

    Posted By admin || 5-Feb-2013

    Many consumers consider bankruptcy as a final resort after other options have been explored. Yet, some may not realize it is time to file even though their finances are spiraling out of control. To help in determining if bankruptcy is an option, consider the following points. Has bankruptcy been an option you've considered for a while? Do you feel like your financial problems have lingered for a ...
    Continue Reading
  • Does Debt from Delinquent Utility Bills Get Listed in Bankruptcy?

    Posted By admin || 1-Feb-2013

    Debt From Delinquent Utility Bills It's common for debtors to fall behind on payment obligations such as paying utilities when money is tight. When you begin the filing process you may wonder if you need to list these bills in your bankruptcy. Any delinquent accounts you have should be included in your filing. Utility bills you may have fallen behind on such as the water, electric, phone and gas ...
    Continue Reading
  • Bankruptcy: Should I Wait to File Before or After My Tax Refund

    Posted By admin || 29-Jan-2013

    Sometimes waiting to file bankruptcy is a better option for those wanting to keep their refund. Yet, it is possible to have your refund protected if it meets requirements depending on the state you reside. There is also the issue of being married and filing a joint return and wondering if the decision to file may affect your spouse. In many cases, it may be best to wait and file bankruptcy after ...
    Continue Reading
  • Considering Bankruptcy? 5 Factors Debtors Should Review

    Posted By admin || 28-Jan-2013

    Before filing bankruptcy you should have a clear idea of what is going on with your finances. In short, review your situation in detail to understand if bankruptcy is the right solution. Discussing your situation with a bankruptcy attorney may include comparing other options to help resolve problems. Learning how bankruptcy can help you is one matter, but understanding the facts about it is ...
    Continue Reading
  • How Do You Know the Value of Personal Property in Bankruptcy?

    Posted By admin || 25-Jan-2013

    Bankruptcy Appraisal on Personal Property Part of the filing process in bankruptcy includes listing personal property and its value. In bankruptcy you refer to the replacement value or the amount it would be worth if sold by a retail merchant based on the condition and age of the property. Depending on the item itself, you'll get an idea on how you should determine its value. Supporting ...
    Continue Reading
  • Top 4 Benefits of Bankruptcy

    Posted By admin || 23-Jan-2013

    People often associate bankruptcy with the ability to wipe out or eliminate debt to gain a fresh start. Yet, the filing process has other advantages such as property protection, which can make things easier for debtors while getting finances back in order. Bankruptcy can stop creditor harassment and ease the stress associated with overwhelming debt. In helping understand how the process helps ...
    Continue Reading
  • Is It Better to Use Retirement Funds to Pay Off Debt Prior to Filing Bankruptcy?

    Posted By admin || 18-Jan-2013

    Is It Better to Use Retirement Funds or File Bankruptcy? Retirement funds are commonly used to pay off debt when a person wants to avoid filing bankruptcy. Yet, in some cases when you avoid filing it can put more strain on your finances. It is understandable you want to take care of your financial obligations, but using retirement funds to pay off debt can be a mistake for several reasons. Many ...
    Continue Reading
  • Can Bankruptcy Eliminate Debt from Unpaid or Unfiled Tax Returns?

    Posted By admin || 17-Jan-2013

    Bankruptcy and Unpaid Tax Returns Bankruptcy has the ability to wipe out tax debt but income tax returns need to be filed. Tax debt is subject to specific qualifications in order for it to be discharged or eliminated after your case is filed. There are several factors to review if wiping out tax debt is an option you are considering. In order for bankruptcy to eliminate tax debt, income tax ...
    Continue Reading
  • Being Sued: Should a Case Be Heard in Court before Deciding to File Bankruptcy?

    Posted By admin || 15-Jan-2013

    In most situations, it may not make a difference when you file bankruptcy. If the judgment is related to unsecured debt it is likely to get discharged. Some people may decide to file when they receive a summons learning of a creditor seeking to take legal action. Others may decide to submit an answer or appear in court, and then seek to file bankruptcy protection after their appearance. It often ...
    Continue Reading
  • 5 Financial Situations Where Bankruptcy Makes Sense

    Posted By admin || 14-Jan-2013

    Deciding to file bankruptcy can be confusing. People often choose not to file because of misleading information, lack of understanding and fear of not knowing what will happen in the future. These factors have been known to make financial situations even worse since debtors put off the filing process. Upon gaining a better understanding of how the process can improve their finances, many wish they ...
    Continue Reading
  • When Filing Bankruptcy What Types of Income Is Reviewed on the Means Test?

    Posted By admin || 8-Jan-2013

    What Types of Income Is Reviewed on the Means Test? The Means Test helps in determining eligibility for bankruptcy. The test gives a general idea of whether or not you have the ability to pay on outstanding debt. Depending on the income requirements for your state the test provides details on which bankruptcy chapter you may qualify for; Chapter 7 or Chapter 13 bankruptcy. The Means Test looks at ...
    Continue Reading
  • Can I File Bankruptcy by Myself If I Am Married?

    Posted By admin || 3-Jan-2013

    As a married individual you can choose to file bankruptcy on your own without your spouse. It is a common question asked upon married individuals since you can file a joint petition with your spouse, but you don't have to. In some cases, it may be better for you to file without your spouse if the outcome is more beneficial. Filing Bankruptcy as an Individual Without Your Spouse If you decide to ...
    Continue Reading
  • Requirements to Complete in Order to Obtain Discharge of Debts in Bankruptcy

    Posted By admin || 2-Jan-2013

    If you plan on filing for bankruptcy protection you'll need to review qualifications and requirements in order to obtain a successful discharge. This includes getting credit counseling with an approved government organization within 180 days of filing your petition. A debtor education course is also required for debt discharge approval. It is important to consult with your bankruptcy attorney to ...
    Continue Reading
  • What Happens to Joint Property in Bankruptcy?

    Posted By admin || 28-Dec-2012

    Joint Property and Bankruptcy If you are considering bankruptcy protection as a married individual you may have concerns about joint property and whether or not it can be protected from creditors. The outcome of your case may depend on the chapter you file, the state you live in, if you file on your own or with your spouse and ownership of property. If You File Your Case Alone If you choose to ...
    Continue Reading
  • What Are Bankruptcy Options for Small Businesses?

    Posted By admin || 21-Dec-2012

    Bankruptcy Options for Small Businesses If you are a small business owner struggling to pay debt obligations you may be considering bankruptcy as an option. There are different bankruptcy filings to consider that are based on how your business is organized. It helps to get a better understanding of each bankruptcy option before making the decision to file. Chapter 7 Bankruptcy An option for ...
    Continue Reading
  • How is the Film Industry Avoiding Bankruptcy?

    Posted By admin || 19-Dec-2012

    The film industry's annual ticket sales have declined almost every year since 2002 but gross annual revenue has doubled. If fewer people are going to the movies, how is the industry avoiding bankruptcy?
    Continue Reading
  • Bankruptcy: When Getting Out of Debt is a Goal for the New Year

    Posted By admin || 18-Dec-2012

    Bankruptcy is known for helping people gain a fresh start. A new year's resolution many consumers make includes getting out of debt. Even if you don't believe in making resolutions you may see getting out of debt as one your financial goals you want to achieve in the new year. Many review their options for how they will tackle their debt after the holidays. Yet, if bankruptcy is an option you are ...
    Continue Reading
  • What You Should Know about Discharging Debt in Bankruptcy

    Posted By admin || 17-Dec-2012

    Discharging Debt in Bankruptcy Whether you file Chapter 7 or Chapter 13 bankruptcy, the general goal is to regain control of your finances and get out of debt. Chapter 7 bankruptcy is known for discharging or eliminating debt while Chapter 13 helps reorganize debt with a payment schedule. Certain debts in Chapter 13 may still continue to be paid by the debtor if it doesn't qualify for a discharge. ...
    Continue Reading
  • Does Alimony or Child Support Need to Be Reported as Income When Filing Bankruptcy?

    Posted By admin || 14-Dec-2012

    When you file bankruptcy you are required to report monthly income, usually for the last 6 months leading up to the filing. This is used to help debtors complete the Means Test which determines eligibility for Chapter 7 bankruptcy while reviewing expenses, debt and household size. In some cases, monthly income may allow a debtor to file Chapter 13 bankruptcy instead of Chapter 7. The test helps ...
    Continue Reading
  • Can I File Bankruptcy If I Am in Retirement?

    Posted By admin || 11-Dec-2012

    Bankruptcy and Retirement Over the past few years more consumers over the age of 65 continue to struggle with outstanding debt. Studies have shown that more seniors are turning to bankruptcy to help deal with their debt troubles. In 2007, close to 7% of debtors who filed for bankruptcy were senior citizens over the age of 65. While bankruptcy is an option there are issues seniors should consider ...
    Continue Reading
  • Should I Stop Using My Credit for a Certain Time Period before Filing Bankruptcy?

    Posted By admin || 10-Dec-2012

    Credit card use may be a concern for debtors experiencing job loss or those finding it a challenge to make ends meet. While juggling daily expenses many have a hard time meeting debt obligations. Bankruptcy may be the next step for those who are considering the option. Many consumers understand they should stop using their card before seeking protection. Yet, one topic of concern includes knowing ...
    Continue Reading
  • Can Home Owner Association (HOA) Dues Be Discharged in Bankruptcy?

    Posted By admin || 6-Dec-2012

    Can Home Owner's Due's be Discharged in Bankruptcy? When it comes to Home Owner Association (HOA) dues in a bankruptcy case they can often present challenges even for legal experts to tackle. The topic isn't discussed often which has led many to be misinformed. Chapter 7 bankruptcy allows a variety of debts to be eliminated, but when it comes to HOA dues it may depend on whether or not you plan to ...
    Continue Reading
  • What Happens If I Win the Lottery before My Bankruptcy Case is Completed?

    Posted By admin || 5-Dec-2012

    Jackpot amounts in recent months have caught the attention of millions hoping to get a piece of the prize if they don't win it entirely. With jackpot amounts reaching historical heights many dream about what they would do with such a windfall. Lottery wins have been known to change lives dramatically. With that being said, what happens if you win the lottery after filing bankruptcy? The bankruptcy ...
    Continue Reading
  • Will Anything Happen to My Bank Account When I File Bankruptcy?

    Posted By admin || 29-Nov-2012

    One of the most common reasons why bankruptcy is filed includes obtaining protection for personal assets from creditors. When you file bankruptcy assets such as bank accounts will likely be protected. Some debtors worry if their account will close once the petition is filed. Mostly likely your account will remain open and you won't lose assets connected to the account. Yet, there are a few things ...
    Continue Reading
  • The Truth About Payday Loans in Texas

    Posted By admin || 29-Nov-2012

    Texas is the base of operations for some of the largest nationwide payday lenders. With its lax regulations, Texas is estimated to provide the industry with more than 60% of its national profit.
    Continue Reading
  • Do You Really Need to Disclose All Assets When Filing Bankruptcy?

    Posted By admin || 28-Nov-2012

    The bankruptcy filing process includes several important steps that many people may not be aware of. This is one of the reasons why debtors experience challenges when trying to file on their own without a bankruptcy attorney. When you submit documentation to the bankruptcy court it needs to be completed thoroughly in order for your situation to be accessed fairly. This means you should be honest ...
    Continue Reading
  • How Do I Know Which Bankruptcy Chapter I Should File?

    Posted By admin || 27-Nov-2012

    Deciding to file bankruptcy is a big financial step that may help you get closer to the relief you are seeking. It may seem confusing to understand which chapter to file even if you meet eligibility for more than one chapter. In some cases you may be able to choose your course of action, but reviewing your situation with a bankruptcy expert may also shed light on the best option. Many consumers ...
    Continue Reading
  • Can Bankruptcy Help Me Get My Utilities Reconnected?

    Posted By admin || 26-Nov-2012

    Bankruptcy and Your Utility Bills If you have recently experienced a gas or utility disconnection because you were unable to pay your bill, bankruptcy may help in getting service reconnected. When you file bankruptcy you are required to list all outstanding debt including unpaid utility payments that led to the disconnection. While in many cases you can get your service restored, there are a few ...
    Continue Reading
  • Can I File Bankruptcy with a Reverse Mortgage?

    Posted By admin || 23-Nov-2012

    Reverse Mortgages and Bankruptcy If you want to keep your home and have a reverse mortgage it is likely you'll be able to seek bankruptcy protection. A reverse mortgage allows you to get cash from your home after converting part of the equity. This type of mortgage may allow a homeowner to stop making payments on their mortgage without the need to sell the home. There are specific qualifications ...
    Continue Reading
  • What Happens If I Change Jobs While in Bankruptcy?

    Posted By admin || 21-Nov-2012

    Filing bankruptcy helps debtors obtain the fresh start they have been looking for. This may include eliminating qualifying debt or obtaining control of finances that improve your ability to pay financial obligations. While your finances go through changes of their own, other areas in life may see change as well such as new employment opportunities. So What Happens If I Change Jobs While in ...
    Continue Reading
  • Why Does Household Size Matter When Taking the Means Test for Bankruptcy?

    Posted By admin || 19-Nov-2012

    The Means Test helps determine if a debtor qualifies for Chapter 7 bankruptcy. While it is used to review household income and expenses, it may also determine if a debtor can make payments in Chapter 13 bankruptcy depending on how much they earn. Along with determining how much a debtor earns, the test reviews household size and members of the debtor's household. When a debtor is asked about their ...
    Continue Reading
  • Preventing Delays in Your Bankruptcy Case

    Posted By admin || 16-Nov-2012

    Delays in Your Bankruptcy Case Bankruptcy attorneys work diligently to represent their client to obtain the best outcome possible. In most situations it doesn't take long for your bankruptcy case to be completed. A debtor may notice a certain amount of time has passed since they started the filing process, wonder why it is taking so long and want an update on the status of their case. Yet, there ...
    Continue Reading
  • Will Bankruptcy Eliminate Debt that is in Default?

    Posted By admin || 12-Nov-2012

    Many debtors may have debt that has fallen into default; meaning some time ago they stopped making payments on it or it was related to secured debt such as car repossession. While bankruptcy may eliminate qualifying debt it may help to review your financial situation in more detail before deciding to file. One issue that could affect your decision to file includes statute of limitations on ...
    Continue Reading
  • Considering Bankruptcy When Dealing with Multiple Types of Debt

    Posted By Allmand Law Firm, PLLC || 9-Nov-2012

    Many consumers decide to file bankruptcy when one form of debt becomes an issue to keep under control, such as medical bills or credit card debt. But some consumers may not realize they can file bankruptcy when dealing with multiple types of debt. Another common reason for filing includes receiving a lawsuit or judgment related to old debt. When considering filing due to multiple types of debt it ...
    Continue Reading
  • Does My Situation Qualify for Bankruptcy?

    Posted By admin || 8-Nov-2012

    Understanding whether or not you are a candidate for bankruptcy most likely includes reviewing your situation with a qualified bankruptcy attorney. A legal expert may be able to advise the best course of action based on your circumstances. Yet, there are a few factors that could have an influence on your decision that you can review in better detail. Many people experience differences with their ...
    Continue Reading
  • What to Think About When Declaring Bankruptcy

    Posted By admin || 29-Oct-2012

    Many consumers wonder how they should go about making the decision to file bankruptcy. Some are still trying to figure out if bankruptcy is the best option for their situation or if they should continue trying to pay down their debt. There are things you should know about bankruptcy and your own financial situation that may help detail your next course of action. Make Sure You Understand the ...
    Continue Reading
  • When Small Business Owners Consider Bankruptcy

    Posted By admin || 26-Oct-2012

    If your small business is drowning in debt, bankruptcy may help obtain the relief you're seeking. While it is an option there are details to review to help you understand how the process can help. The way your business is structured could affect how you proceed. Other concerns to think about include understanding who is liable for outstanding debt and the type of debt in question. If you are ...
    Continue Reading
  • If I File Bankruptcy Will I Lose My Credit Union Account?

    Posted By admin || 25-Oct-2012

    Some debtors are under the impression that they will automatically lose their credit union account when they file bankruptcy. In most cases, you'll get to keep your account but it depends on whether or not you owe the credit union and what your intentions are for making payment on what is owed. There are certain reasons, however, in which you could lose your account. One of the reasons why so many ...
    Continue Reading
  • Bankruptcy Experts Warn Consumers about Unethical Debt Settlement Companies

    Posted By admin || 24-Oct-2012

    Cash-strapped consumers are being warned to be on the lookout for unethical practices conducted by debt settlement companies. Many companies claim they can help struggling consumers reduce their debt obligations with creditors for a nominal fee. While there are a variety of companies that claim to offer such services, unsuspecting consumers could end up losing money and wind up in deeper financial ...
    Continue Reading
  • Using Bankruptcy to Keep Your Small Business Open

    Posted By admin || 11-Oct-2012

    If you are finding it difficult to keep up with business debt obligations but want to keep your business running, bankruptcy may help. The type of bankruptcy you choose to file could impact the outcome but it also depends on how your business is structured. Whether you are considering Chapter 7, Chapter 11 or Chapter 13, there are several factors to review. If you want to keep your business open ...
    Continue Reading
  • When You Should Not File Bankruptcy on Your Own

    Posted By admin || 8-Oct-2012

    Filing Bankruptcy on Your Own Debtors considering filing bankruptcy on their own may think it can help them save money. While you may be able to file on your own, there are certain situations where it is best to have legal representation. Most debtors choose to work with a bankruptcy attorney when they realize how complex their situation is. A simple Chapter 7 bankruptcy case could be filed by the ...
    Continue Reading
  • Help From Bedside Angels

    Posted By admin || 4-Oct-2012

    For any 18 year old, it is scary enough having to deal with their future responsibility of finances. You can only imagine how much more difficult it may be for someone turning 18 that has had an illness ever since childhood. Unfortunately, the burden of children accumulating medical debt is on the rise. Some children will even file for bankruptcy before ever driving their first car. Literally ...
    Continue Reading
  • 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 ...
    Continue Reading
  • 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 ...
    Continue Reading
  • 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 ...
    Continue Reading
  • 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. ...
    Continue Reading
  • 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 ...
    Continue Reading
  • 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 ...
    Continue Reading
  • 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 ...
    Continue Reading
  • 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 ...
    Continue Reading
  • What If I Have More Than One Vehicle When Filing Bankruptcy?

    Posted By admin || 30-Aug-2012

    Have Multiple When Filing Bankruptcy? If you have multiple vehicles when you file bankruptcy, it's likely you'll be able to keep them thanks to bankruptcy exemptions. When you file bankruptcy you are entitled to exemptions that can help protect automobiles. The exemptions are available at different levels including state and federal. While there are exemptions that can help protect personal ...
    Continue Reading
  • What Happens If I Become Unemployed During Bankruptcy?

    Posted By admin || 27-Aug-2012

    Unemployed During Bankruptcy It's possible a job loss could affect the outcome of your case, yet it depends on which chapter you've filed. Losing your job will likely have an impact on how you maintain assets such as your vehicle and home. How your job loss affects your case may vary but unemployment benefits may be an option to help you satisfy financial obligations if you qualify. Job Loss ...
    Continue Reading
  • Why is Credit Counseling Required When Filing Bankruptcy?

    Posted By admin || 27-Aug-2012

    The Bankruptcy Court requires debtors who file for bankruptcy protection to complete a financial management course before a discharge is granted for your case. Part of the reason for the requirement is due to changes made in bankruptcy laws in 2005. The credit counseling and financial management requirements are there to educate and inform debtors on various aspects of their finances. The courses ...
    Continue Reading
  • If I Get a Cash Advance Before Filing Bankruptcy Will It Affect My Case?

    Posted By admin || 23-Aug-2012

    Cash Advances and Bankruptcy A cash advance is known as either a payday loan or cash withdrawal from a credit card. A cash advance as a payday loan allows consumers to borrow money against their next paycheck. A cash advance as a withdrawal from a credit card allows consumers to withdrawal money from their available credit on the card from an ATM or debit transaction using a pin number. So is it ...
    Continue Reading
  • Can I Choose Which Bankruptcy Chapter to File?

    Posted By admin || 22-Aug-2012

    Choosing Which Bankruptcy Chapter to File Many debtors assume they can choose which bankruptcy chapter to file. In some cases you can choose which chapter to file, but you'll need to understand qualifications for each chapter before deciding. Yet, some may not have an option to choose. Bankruptcy laws require debtors to meet income requirements for each chapter based on their state of residence ...
    Continue Reading
  • What Happens When My Unemployment Benefits Run Out?

    Posted By admin || 21-Aug-2012

    Experiencing a job loss can really shake things up when you're used to doing things in certain ways. You are forced to make financial changes that you may not be used to. It is important to remember that unemployment benefits are available for qualifying workers for a temporary time. Depending on how long you have been unemployed you may be able to apply for an extension to continue receiving ...
    Continue Reading
  • Will Borrowing from My Retirement Funds Affect My Bankruptcy Filing?

    Posted By admin || 20-Aug-2012

    Consumers facing financial difficulties may look to borrow from their retirement plan, but how will this affect your bankruptcy case? It likely depends on which chapter you file and whether or not you plan to borrow from the plan before or after you file. There are several reasons why your decision to borrow from your retirement plan may not affect your filing. It is likely funds from the ...
    Continue Reading
  • Judges Crack Down On Bankruptcy Petition Preparers

    Posted By admin || 15-Aug-2012

    Bankruptcy judges have begun to crackdown on bankruptcy petition preparers who have defrauded clients, one such conviction ended with a 27 month prison term. Judges point to cases where preparers pocketed fees but failed to do the work, messed up filings or simply overcharged clients. They have also repeatedly ordered preparers to return fees to clients - though the refunds often are never made. ...
    Continue Reading
  • Bankruptcy Helps Improve Credit in a Variety of Ways

    Posted By admin || 14-Aug-2012

    How Bankruptcy Can Improve Credit Bankruptcy has been known to help people get a fresh start for several reasons. Filing doesn't make you ineligible to receive credit but it may actually help you obtain the credit you need to help achieve financial goals. During the filing process you're almost debt free and even closer to improving your credit score. Bankruptcy can even help you get into a better ...
    Continue Reading
  • Liquidating An Online Business In Bankruptcy

    Posted By admin || 13-Aug-2012

    Online Business and Bankruptcy Doing business in cyberspace as become more than just a novelty, many successful (and not so successful) internet businesses have become a mainstream reality. But with the proliferation of internet commerce also comes the proliferation of bankruptcy for these types of businesses. But what happens when internet commerce meets bankruptcy courts? Let's take a look at a ...
    Continue Reading
  • Possible Risks of Filing Bankruptcy on Your Own

    Posted By admin || 10-Aug-2012

    Risks of Filing Bankruptcy on Your Own It may seem like a simple process but filing bankruptcy on your own could make your situation more challenging than it seems. Even if you think your circumstances may seem simple, once you get into the process things may become complex when you least expect it. While it may be easy to get the necessary forms to begin the process from the courthouse or ...
    Continue Reading
  • What You Should Know about Bankruptcy Exemptions

    Posted By admin || 10-Aug-2012

    In both Chapter 7 and Chapter 13 bankruptcy, exemptions play an important role because they help protect personal property from creditors. When property is exempt, it means creditors cannot pursue it to satisfy outstanding debt. Each state has its own rules and regulations regarding exemptions with exemptions available on the state and federal level. Understanding how exemptions will work in your ...
    Continue Reading
  • How is Property and Debt Handled in Bankruptcy When Filing without Your Spouse?

    Posted By admin || 3-Aug-2012

    While a spouse has the option to file bankruptcy on their own as an individual, the choice could affect the outcome when it comes to property and debt. It often depends on the state you reside in; either a common law or community property state. Most property acquired during marriage is considered community property. Equitable distribution is sought by common law states, which may not necessarily ...
    Continue Reading
  • Can Bankruptcy Help If I Am Being Sued?

    Posted By admin || 3-Aug-2012

    Bankruptcy May be an Option Whether a credit card company or debt collection agency has filed a lawsuit against you, bankruptcy may be an option to help you get relief from collection actions of creditors. When bankruptcy is filed, the automatic stay is enforced; meaning collection attempts against you cease until bankruptcy proceedings are completed. The Automatic Stay Can Help The automatic stay ...
    Continue Reading
  • What You Should Know When Filing a Joint Bankruptcy Petition

    Posted By admin || 1-Aug-2012

    Filing a Joint Bankruptcy Petition When a married couple files for bankruptcy protection they would file a joint bankruptcy petition. In many cases, filing jointly has helped married couples save time and money during the process. While the process is similar to an individual bankruptcy filing, there are a few details to keep in mind when considering filing a joint petition. The process includes ...
    Continue Reading
  • Sources to Help You Find the Right Bankruptcy Attorney

    Posted By admin || 20-Jul-2012

    Many debtors who seek bankruptcy protection often don't know where to start when it comes to hiring a bankruptcy attorney. While it is important to know what to look for when hiring legal representation, some people may feel they have limited sources to choose from. Most don't realize there are a variety of sources available that can help you find the right lawyer. Obtain recommendations from ...
    Continue Reading
  • 5 Tips to Help You Choose the Right Bankruptcy Attorney

    Posted By admin || 19-Jul-2012

    Choosing the right bankruptcy attorney greatly increases chances of getting a successful outcome for your case. Your case could be jeopardized by an attorney who is unfamiliar with bankruptcy laws; meaning your assets could be at risk. The good news is there are a few easy tips to keep in mind that may help you choose the right attorney: The attorney should specialize in bankruptcy laws. An ...
    Continue Reading
  • When You Should Consider Contacting a Bankruptcy Attorney

    Posted By admin || 16-Jul-2012

    Many believe they have to be broke or completely financially unstable in order to contact a bankruptcy attorney. Even if you feel you are in good place with your finances, it may prove helpful to get information about bankruptcy that could be useful later on. On the other hand, certain situations could be reviewed with a legal expert to give you a clear idea on what options are available. Plus, ...
    Continue Reading
  • Do I Have to Give Information about My Business if Filing a Personal Bankruptcy?

    Posted By admin || 12-Jul-2012

    Whether you file a Chapter 7 or Chapter 13 bankruptcy, you are required to disclose certain financial information about your business. Most likely, any business interest accrued would need to be disclosed; if you have more than 5 percent in business ownership, this would also need to be presented upon filing. Basic information about your business may be needed such as the name of your business, ...
    Continue Reading
  • Understanding Your Rights Under Bankruptcy Laws

    Posted By admin || 11-Jul-2012

    Your Rights Under Bankruptcy Laws While some may assume bankruptcy laws lean more toward helping debtors than creditors or vice versa, the fact is they are designed to protect both debtors and creditors. Rules and regulations in relation to bankruptcy laws, along with the rights of both groups, are enforced by the bankruptcy court to ensure fairness of the case being presented before the judge. As ...
    Continue Reading
  • Do I Include Assets that Belong to My Spouse When Filing Bankruptcy?

    Posted By admin || 10-Jul-2012

    When entering a marriage, an individual may assume their personal property and assets brought into the relationship will continue to be their own but this may not always be the case. While debtors have the option to file bankruptcy jointly with their spouse, they may also seek relief as an individual. So what happens when a spouse decides to file bankruptcy and how does the process affect personal ...
    Continue Reading
  • What If I Do Not Have Income Tax Information to Submit when Filing Bankruptcy?

    Posted By admin || 10-Jul-2012

    Many debtors may not realize how significant tax documents are when it comes to filing bankruptcy. These documents are often presented to your trustee when you begin the filing process along with your list of creditors and outstanding debt. It's common for some to not have their tax returns filed but if you're seeking to file bankruptcy, especially Chapter 7 bankruptcy, your tax returns should be ...
    Continue Reading
  • When it's Time to File Bankruptcy

    Posted By admin || 3-Jul-2012

    You may wonder if it is time to file bankruptcy when you're struggling to make good on financial obligations. Individuals looking to improve their financial situation become overwhelmed. Creditors tend to make things worse when they become aggressive with their collection tactics and lead to debtor harassment. This is often the case for outstanding debt that is several years old. Many debtors feel ...
    Continue Reading
  • Understanding the Bankruptcy Discharge

    Posted By admin || 2-Jul-2012

    What is the Bankruptcy Discharge? A bankruptcy discharge relieves debtors from financial obligations of eligible debt, which often includes medical bills, credit cards and other qualifying debt that was included in your bankruptcy filing. The discharge also means creditors can no longer pursue or collect on the debt. Getting debt discharged may vary depending on what chapter is filed but in order ...
    Continue Reading
  • Do I Include Creditors That Have A Zero Balance When Filing Bankruptcy?

    Posted By admin || 2-Jul-2012

    Submitting a List of Creditors When you file for bankruptcy you are required to submit a list of creditors you want to include in the filing. In many cases, it's up to the debtor whether or not to add a creditor with a zero balance. It's not out of the ordinary to have a credit card or loan with a zero balance. It may not be necessary to add them to your filing, but in your best interest you could ...
    Continue Reading
  • Taking Necessary Steps to Ensure a Successful Bankruptcy Filing

    Posted By admin || 28-Jun-2012

    Understanding the bankruptcy process includes knowing what steps are involved to ensure a successful outcome. Reviewing your options and planning ahead can help save time and reduce stress. The following helps give you an idea of what to expect and what actions you should plan to take in an effort to complete the filing process in the best way possible: Seek an experienced bankruptcy attorney to ...
    Continue Reading
  • When It Is Best to Wait to File Bankruptcy

    Posted By admin || 28-Jun-2012

    When You Should Wait to File Bankruptcy Sometimes waiting to file bankruptcy may make better financial sense depending on personal circumstances. Holding off on filing may give you advantages that can help you retain property, discharge more debt and avoid potential pitfalls that could prevent discharge of debts. If you've moved to another state and want to file bankruptcy, you may need to wait a ...
    Continue Reading
  • Why It Is Important to Plan Ahead Your Bankruptcy Filing

    Posted By admin || 27-Jun-2012

    Planning Ahead For Your Bankruptcy Filing Many consumers don't realize that you can plan filing for bankruptcy months and even years ahead of time. It is not only a wise idea but it may help you avoid common challenges that keep debtors from completing the filing process successfully. Understanding your options may help you retain property while learning when it's best to file. If you are ...
    Continue Reading
  • Most Common Debts Discharged in Bankruptcy

    Posted By admin || 26-Jun-2012

    Types of Debt Discharged in Bankruptcy One of the benefits of filing Chapter 7 bankruptcy is the ability to discharge qualifying debt. Debt that is discharged is eliminated; meaning creditors are unable to pursue collection attempts against the debtor once the action is granted by the judge. The debtor is no longer liable for the debt. The action is granted after the meeting of the creditors with ...
    Continue Reading
  • Common Mistakes Made When Filing Bankruptcy

    Posted By admin || 22-Jun-2012

    Mistakes Made When Filing Bankruptcy The bankruptcy process is known for helping many consumers get out of debt but in order to obtain the fresh start you're seeking, you want to go about the procedure in the right way. Certain moves such as leaving out important information or lying about your finances could make your case more challenging upon being presented to the judge. Your case may go a lot ...
    Continue Reading
  • Determining if Bankruptcy is the Best Option

    Posted By admin || 22-Jun-2012

    Is Bankruptcy Your Best Option? Bankruptcy is usually the last option for debtors but some don't take time to review qualifications and requirements. Deciding to file bankruptcy may depend on several factors. It helps to review your situation thoroughly as well as review alternatives to filing. There are different types of bankruptcy you can file. Most debtors look to file either Chapter 7 or ...
    Continue Reading
  • The Differences Between a Bankruptcy Dismissal and Discharge

    Posted By admin || 21-Jun-2012

    Bankruptcy Dismissal and Discharges What is a Bankruptcy Discharge? In bankruptcy a discharge and a dismissal are two different actions that are commonly confused by debtors. A discharge is often sought by those looking to eliminate debt and a dismissal is an action that in most cases, you want to avoid if you are looking to improve your financial situation. A discharge is granted for qualifying ...
    Continue Reading
  • When an Emergency Bankruptcy is Filed

    Posted By admin || 21-Jun-2012

    While it's recommended to take time in deciding to file bankruptcy to insure procedures are followed correctly, there are situations in which it makes sense to file a petition immediately. Some people wait to begin the filing process but in turn, waiting may make the situation more challenging. With filing for bankruptcy protection right away you can begin part of the process while obtaining ...
    Continue Reading
  • What You Should Know When Filing Bankruptcy Again

    Posted By admin || 19-Jun-2012

    Filing Bankruptcy Again? There are many misconceptions floating around about filing bankruptcy again, that those who need to file another time around may become confused. Many believe that once you file bankruptcy that you can't file again but this isn't true. While it's common to accumulate debt after filing the first time, some can't help experiencing financial challenges that ultimately bring ...
    Continue Reading
  • 5 Common Bankruptcy Myths Exposed

    Posted By admin || 18-Jun-2012

    5 Common Bankruptcy Myths Millions of consumers file bankruptcy every year and while those who file have their own reasons why, others may assume a filing was done for reasons that may not be true. Some people have certain beliefs about why consumers file for bankruptcy protection, with different myths often keeping people from seeking their own form of financial relief. Below is a look at common ...
    Continue Reading
  • Does Bankruptcy Protect Social Security Disability Income?

    Posted By admin || 18-Jun-2012

    Social Security Benefits and Bankruptcy If you receive Social Security benefits, bankruptcy provides protection through state exemptions whether you file Chapter 7 or Chapter 13 bankruptcy. Most often the means test helps determine your eligibility when filing, but some states may not calculate your benefits into the test. On the other hand, there are situations in which Social Security benefits ...
    Continue Reading
  • Understanding the Purpose of Bankruptcy

    Posted By admin || 15-Jun-2012

    The Purpose of Bankruptcy Bankruptcy is a legal process that can help improve your financial situation but some may not exactly understand what bankruptcy is. Many assume it will wipe away debts but certain qualifications should be met depending on your situation. The following basic questions are most commonly asked that may shed light on the bankruptcy process: What is it and Does it Completely ...
    Continue Reading
  • How Do I Answer a Debt Lawsuit?

    Posted By admin || 13-Jun-2012

    Handling Debt Lawsuits Getting a summons and learning you are being sued can be overwhelming and confusing when you are unsure what your next course of action should be. You have the option of seeking legal assistance to help you resolve the matter. In answering the summons, there are several steps to take that may help you save money especially if you feel the lawsuit has no merit. In answering ...
    Continue Reading
  • Steps to Take After Bankruptcy

    Posted By admin || 6-Jun-2012

    Steps to Take After Bankruptcy You've filed for the personal bankruptcy, and the bankruptcy courts finally approved your case. Your debts are officially eliminated from your life - and you are debt-free for the first time. However, before you throw your hands in the air and celebrate your clean financial slate, you will need to take certain steps to get your finances back on track after personal ...
    Continue Reading
  • Understanding What Bankruptcy Can Do for You

    Posted By admin || 31-May-2012

    Bankruptcy can help improve finances in a variety of ways, but while it is a powerful tool debtors can utilize, bankruptcy does have limitations on what debt can be discharged or eliminated. It's important to review your options in bankruptcy including what debt can be wiped out and what is left at the end of the filing. Certain debt such as back child support and certain tax debt may not be ...
    Continue Reading
  • Many Consumers Wait for Tax Refund to File Bankruptcy

    Posted By admin || 30-May-2012

    Waiting for Tax Refund to File Bankruptcy New research conducted by economists at the University of Chicago, Columbia University and Washington University in St. Louis reveal many consumers wait to file bankruptcy until they receive their tax refund check. The study also showed the total number of bankruptcies increased in 2008 after debtors received their refunds. Data released from the study ...
    Continue Reading
  • Preparing for Bankruptcy: What You Should Do Before Filing

    Posted By admin || 28-May-2012

    After getting a better understanding of your financial troubles and have considered alternatives, you've decided the best solution for your situation is to file bankruptcy. The process is an important step that can help you get the new financial start you deserve but what you do before, during and after the process can make a big difference in the success of your filing. The following steps are ...
    Continue Reading
  • If My Co-Signer Files Bankruptcy Does their Filing Affect Me?

    Posted By admin || 21-May-2012

    When Your Co-Signer Files Bankruptcy The bankruptcy process may seem challenging depending on personal circumstances and which chapter is filed. It is often wondered what happens when a co-signer files for bankruptcy protection. In many cases, a co-signer situation makes both parties responsible for outstanding debt. If the account in question goes into default, either party can be pursued by the ...
    Continue Reading
  • How to Borrow After a Personal Bankruptcy

    Posted By admin || 14-May-2012

    Borrowing After a Personal Bankruptcy You may think that filing for a personal bankruptcy is like declaring a death sentence for your credit score. However, there is no denying that there certainly are ways you can borrow after filing for a personal bankruptcy. Ultimately, you can borrow the smart way - or you can take the path that puts you right back on the fast track towards another appointment ...
    Continue Reading
  • Persistent Myths About Personal Bankruptcy - Exposed!

    Posted By admin || 11-May-2012

    No matter how much you think you may know about personal bankruptcy, there's no denying that there's a great deal of misinformation you might be falling for. However, this "misinformation" might do more than lead you astray - it might even prevent you from filing for bankruptcy when you need it most. So what are some of the most persistent myths about personal bankruptcy out there - and what's the ...
    Continue Reading
  • What Happens If I Forget to Add a Creditor to My Bankruptcy Filing?

    Posted By admin || 9-May-2012

    In many situations, it may not be too late to add a creditor if you accidentally forgot to add them to your filing. Whether you are filing Chapter 7 bankruptcy or Chapter 13 bankruptcy, the process for some can be stressful so it's understandable this may happen. Upon realizing you left out a creditor it's important to consult with your bankruptcy attorney. The next step often depends on how far ...
    Continue Reading
  • Is Personal Bankruptcy in the Cards for You?

    Posted By admin || 9-May-2012

    You've been attempting to pay off your debts to the best of your abilities. Whenever you get extra money, you throw it at your bills in the hopes that the mountain of debt you have will magically reduce itself. However, it seems that no matter how much money you make - or how much you put towards your debts - that mountain of debt isn't shrinking down to a molehill anytime soon. You've finally ...
    Continue Reading
  • Is There Property Bankruptcy Cannot Protect?

    Posted By admin || 8-May-2012

    Property Bankruptcy Can't Protect Fortunately, bankruptcy does protect a majority of personal property through exemptions. The exemptions allowed depend on the state and each state varies on how much is covered. There are different exemption categories for assets with each having a limitation on how much value is protected. Federal exemptions are also available and in some cases, they offer more ...
    Continue Reading
  • How to Determine the Right Bankruptcy Chapter to File

    Posted By admin || 3-May-2012

    Determining the Right Bankruptcy Chapter to File If you are thinking about filing bankruptcy you may wonder which chapter is best for your financial situation. While you can get a better idea by discussing your circumstances with an experienced bankruptcy attorney, you may be able to gain an idea based how each chapter is meant to help the consumer. When bankruptcy is considered by an individual ...
    Continue Reading
  • Easy Steps to File for Personal Bankruptcy in Dallas

    Posted By admin || 2-May-2012

    If you are thinking of filing for personal bankruptcy in Dallas and are worried of a complicated and difficult legal move, think again. While the decision to file should come after much deep contemplation, the truth is that an experienced bankruptcy lawyer can help you navigate the choppy waters of Chapter 7 or Chapter 13 bankruptcy. With your Dallas bankruptcy attorney by your side, here are the ...
    Continue Reading
  • Allmand Law: Helping You to Understand Texas Bankruptcy Exemptions

    Posted By admin || 25-Apr-2012

    If you find yourself considering either a Chapter 7 or Chapter 13 bankruptcy, you may be wondering what assets the creditors may seize or what possessions can be saved. Allmand wants you to be aware of certain exemptions both federal and within the state of Texas. Allmand Law wants to help you in any way they can with your bankruptcy, foreclosure, and more. In educating you about these exemptions ...
    Continue Reading
  • How Bankruptcy Can Help Small Business Owners

    Posted By admin || 24-Apr-2012

    Bankruptcy Can Help Small Businesses Bankruptcy may be an option for small business owners seeking debt relief. There are several factors to take into consideration to determine if bankruptcy can help including the legal form of your business, whether or not you are liable for outstanding business debt, the type of debt and whether or not you want to continue being in business. The legal form of ...
    Continue Reading
  • How Do You Know if You Qualify for Bankruptcy?

    Posted By admin || 23-Apr-2012

    How to Find Out If You Qualify For Bankruptcy While each chapter has its own guidelines and qualifications, some are under the impression that they don't qualify for bankruptcy with many mentioning the same excuses that could be keeping them from filing. Some feel they make too much money, others feel they don't make enough and some even claim they only have one type of debt such as medical bills. ...
    Continue Reading
  • How Debtors Should Handle Judgments In Bankruptcy

    Posted By admin || 11-Apr-2012

    How to Handle Judgments In Bankruptcy While filing bankruptcy stops a judgment from being enforced, judgments can transform unsecured debts into secured debts in bankruptcy giving them priority. Below are a few tips on how debtors should handle judgments when filing bankruptcy: Tackling judgments in bankruptcy is an area where prevention really is better than a "cure." If a debtor is facing a ...
    Continue Reading
  • Escape Identity Theft by Declaring Bankruptcy

    Posted By admin || 11-Apr-2012

    Identity Theft and Bankruptcy Are You a Victim of Identity Theft? It's a sad but true story - and if you've recently been a victim of identity theft yourself, then you'll recognize your own story here: Amy was a bit shocked when she received a letter in the mail verifying her son's application for his third credit card. She had never heard anything from her son regarding credit cards - especially ...
    Continue Reading
  • The Ins and Outs of Bankruptcy Dismissal

    Posted By admin || 6-Apr-2012

    When you first make that appointment with your bankruptcy lawyer, you will have one primary goal: to get your biggest debts discharged by the bankruptcy courts. However, this does not always go according to plan. For example, you may discover that one of your biggest debts is not dischargeable, or that your job salary is enough to significantly reduce your debts over the next few years. Then there ...
    Continue Reading
  • Bankruptcy Basics: What Property Can You Keep After Bankruptcy?

    Posted By admin || 5-Apr-2012

    Property Can You Keep After Bankruptcy You're afraid of filing for bankruptcy because you believe that you won't be able to keep all of your property after bankruptcy or so you have heard. You are terrified that as soon as you submit that paperwork, you'll discover that your home, car, and other possessions now belong in the hands of your biggest creditors. The truth is that new bankruptcy laws ...
    Continue Reading
  • When Dischargeable Bankruptcy Debts Can't Be Eliminated

    Posted By admin || 4-Apr-2012

    When you file to have your debts discharged under a Chapter 7 bankruptcy, you might expect things to be approached in a straightforward manner. After all, once your bankruptcy attorney has filed for a Chapter 7 bankruptcy, it only takes a few months for the courts to look over your debts, decide what can be discharged, and to approve your case. Once the approval is made, you're free to enjoy a ...
    Continue Reading
  • When It's Time to Declare Personal Bankruptcy in Dallas

    Posted By admin || 30-Mar-2012

    Declaring Personal Bankruptcy in Dallas, Texas Admit it: your finances have you feeling like you are in over your head. Every time you check your mail, yet another demanding letter from a debt collector greets you. You can't remember the last time you were able to hear your phone ring without fearing that it's from a credit card company. And forget checking your bank account balance - as soon as ...
    Continue Reading
  • Can I File Bankruptcy If I Am Self Employed?

    Posted By admin || 30-Mar-2012

    Filing Bankruptcy When You Are Self Employed Self-employment can be challenging in different aspects since you are in business for yourself. A sole proprietor or an independent contractor most likely takes financial risks to help get the business off the ground. But for some, it leads to debt that becomes too difficult to handle. Many who are self-employed are often under the impression that they ...
    Continue Reading
  • Bankruptcy News: Why These Debt Repayment Strategies Just Won't Work

    Posted By admin || 28-Mar-2012

    When it comes to battling that mountain of debt, you may believe that there are certain debt repayment strategies that will work. After all, you've seen them touted again and again on many financial websites and magazines. You know that with diligent repayments, plenty of patience, and some good luck, you will be back on your way towards a debt-free lifestyle... Right? Actually, some of the most ...
    Continue Reading
  • Bankruptcy Filings Saw Big Increase in February 2012

    Posted By admin || 28-Mar-2012

    The American Bankruptcy Institute (ABI) recently shared data collected by Epiq Systems, Inc. regarding recent bankruptcy filings in the United States with a big increase in filings during February from January 2012 alone. Data collected showed a 19 percent increase in bankruptcy filings during the month of February, which totaled 104,418; up from January filings which totaled 87,981. The number of ...
    Continue Reading
  • Stopping a Utility Disconnection with Bankruptcy

    Posted By admin || 27-Mar-2012

    Utility Disconnections and Bankruptcy While Chapter 7 bankruptcy can help you eliminate unsecured debt, it may also help you keep your utilities from getting disconnected. In most cases, bankruptcy will prevent utilities such as electric, water, phone and gas from being shut-off. The automatic stay that goes into effect after you file may give you additional time to come up with a solution to keep ...
    Continue Reading
  • How NOT to Recover From a Dallas Bankruptcy

    Posted By admin || 27-Mar-2012

    When it comes to recovering from a Dallas personal bankruptcy, you may think you have all your proverbial ducks lined up in a row. You know that you'll need to make faithful repayments on any and all debts you accumulate after your bankruptcy. You know that it will take some time to recover your credit rating. Above all, you understand that recovering from a Dallas personal bankruptcy takes time, ...
    Continue Reading
  • How Does Bankruptcy Affect Child Support?

    Posted By admin || 26-Mar-2012

    Bankruptcy Affect on Child Support Whether you're receiving child support payments from someone who is set to file bankruptcy or you're responsible for making child support payments, you may wonder what affect the bankruptcy process will have when it comes to receiving or making payments. The outcome of the process may vary depending on personal circumstances and the chapter that is filed The ...
    Continue Reading
  • How to Select the Best Dallas Bankruptcy Lawyer

    Posted By admin || 26-Mar-2012

    Selecting the Best Dallas Bankruptcy Lawyer When it comes to declaring personal bankruptcy in Dallas, you may think that the road will be long and convoluted. However, nothing could be further from the truth - especially if you have the best bankruptcy lawyer by your side. But as with all things, it takes time, dedication, and plenty of patience to find the best Dallas bankruptcy lawyer on the ...
    Continue Reading
  • Can I Get a Car Loan During Bankruptcy?

    Posted By admin || 23-Mar-2012

    Car Title Loans During Bankruptcy It's common for individuals to seek a car loan after bankruptcy but what happens if you need one before your case is completed? You may be able to get a car loan while in bankruptcy depending on which chapter you file. The chapter filed may have an effect on how you proceed in obtaining your car loan. Chapter 7 bankruptcy allows qualifying debt to be eliminated or ...
    Continue Reading
  • The Cold, Hard Facts about Personal Bankruptcy

    Posted By admin || 23-Mar-2012

    Facts about Personal Bankruptcy When it comes to filing for personal bankruptcy, you might feel like you are alone in a sea of financially solvent people. Thanks to misinformation and myths floating around about what bankruptcy means, many people who file often feel like they have "done something wrong" or are just "incapable" of handling their money. However, the cold, hard facts about personal ...
    Continue Reading
  • When is Personal Bankruptcy Best for Your Finances?

    Posted By admin || 22-Mar-2012

    At first glance, this title might seem surprising to you. After all, popular opinions about personal bankruptcy have made it out to be one of the worst things you can do to your finances. While this opinion may have developed out of reasonable concern, the truth is that it's an unfounded myth that's preventing plenty of families from getting the financial relief they need. So when it comes down to ...
    Continue Reading
  • How to Bounce Back from Personal Bankruptcy Faster

    Posted By admin || 21-Mar-2012

    Bouncing Back from Personal Bankruptcy Once you have filed for personal bankruptcy, you may think your finances will be suddenly out of control. Sure, it's nice to have a clean financial slate, especially after battling with a mountain of debt for so long but now that you have a personal bankruptcy on your credit score, you may think that there's no way you'll see another offer of credit from a ...
    Continue Reading
  • Where Do I File Bankruptcy if I am Moving to Another State?

    Posted By admin || 20-Mar-2012

    When considering bankruptcy, it is important to review your income and assets; having accurate records of your finances will help the filing process move forward. But what if you are planning to relocate to a different state in the near future? The income requirement will be based on which chapter you intend to file and the income amount may reflect what you earned in the last 6 months to a year ...
    Continue Reading
  • Secured and Unsecured Debt: Understanding the Difference in Bankruptcy

    Posted By admin || 19-Mar-2012

    The Difference Between Secured and Unsecured Debt in Bankruptcy When you begin the bankruptcy filing process, you submit a list that includes all of your outstanding debt. Debts often fall into two categories: secured and unsecured. Understanding how debt is classified may give a better idea on how they will be handled during bankruptcy. What is Secured Debt? Secured debt is backed by collateral. ...
    Continue Reading
  • Declare Personal Bankruptcy or Continue to Try to Pay the Debt?

    Posted By admin || 16-Mar-2012

    Should You File Bankruptcy or Try to Pay the Debt Off? If you are struggling to decide between declaring personal bankruptcy or paying off your debts, then it's important to address a few truths about your current financial situation. You've been struggling to keep up with the bills for a while now. You've made every attempt to make on-time payments for your mountain of credit card debt, medical ...
    Continue Reading
  • How to Examine Your Personal Bankruptcy Options

    Posted By admin || 14-Mar-2012

    Let's face it: your finances are leading you down the road in a spiral of debt. You can't seem to make heads or tails of your debt. Your payments are past due and late fees keep making your debt even worse. And when it comes to paying off your debts? Unless you win the lottery you could be making minimum payments for the rest of your life. If you've been considering personal bankruptcy, it's best ...
    Continue Reading
  • Passing the Lesson of Personal Bankruptcy to Your Children

    Posted By admin || 13-Mar-2012

    Whether you openly discuss your personal bankruptcy in your home, or you prefer to keep that information between you and your spouse, your children are soaking up information about your finances like a sponge. If you think you are hiding your personal bankruptcy from your children, think again: between the stress and anxiety you'll be experiencing - not to mention your negative attitude towards ...
    Continue Reading
  • Worst Financial Mistakes that Lead to Personal Bankruptcy

    Posted By admin || 13-Mar-2012

    Mistakes that Lead to Personal Bankruptcy We've all made financial mistakes in life - but for some individuals, those mistakes can have a debilitating impact on their way of life. Whether they didn't have an emergency fund to cover an unexpected medical bill, or they just couldn't get a handle on their credit card usage, these mistakes often lead to personal bankruptcy. While personal bankruptcy ...
    Continue Reading
  • Bust the Biggest Myths About Personal Bankruptcy

    Posted By admin || 12-Mar-2012

    It's no exaggeration to say that personal bankruptcy is the last taboo in America. Let's face it: more people than ever are filing for Chapter 7 or Chapter 13 bankruptcy, yet no one wants to talk about the filing process, or even what bankruptcy really means. Thanks to this taboo attitude, there are numerous myths that perpetuate the often-scary perception of what bankruptcy entails. That's where ...
    Continue Reading
  • Is Now the Best Time to File Bankruptcy?

    Posted By admin || 12-Mar-2012

    Bankruptcy is commonly seen as a last resort to overwhelming financial problems. Debtors often understand their debt situation better than anyone else and if other options have been exhausted, bankruptcy may be a plausible idea. Sometimes it makes financial sense to file for protection instead of continuing to let yourself struggle to make payments you can't afford. While there isn't a specific ...
    Continue Reading
  • The Biggest Missteps of Filing for Personal Bankruptcy

    Posted By admin || 6-Mar-2012

    Missteps of Filing for Personal Bankruptcy When filing for personal bankruptcy, you might believe that only fraud can prevent you from successfully discharging your debts. However, there are a number of missteps you can take on the path to a clear financial slate. Therefore, if you want to successfully file for personal bankruptcy, here are the most popular missteps that will throw a wrench in ...
    Continue Reading
  • Looking into Bankruptcy Alternatives in Dallas?

    Posted By admin || 5-Mar-2012

    Bankruptcy Alternatives in Dallas If you're looking into bankruptcy alternatives in Dallas, then you stumbled across this article just in time. While bankruptcy is certainly the best option for those individuals struggling under a mountain of debt, there's no denying that this solution should be approached with plenty of thought and rationale. Bankruptcy is a big step, and it should only be done ...
    Continue Reading
  • Lowering Your Credit Card Rates After Personal Bankruptcy

    Posted By admin || 1-Mar-2012

    Lowering Credit Card Rates After Bankruptcy At first glance, the title of this article might seem a little ambitious to you. After all, if you have credit cards after personal bankruptcy, you just may feel grateful that you even have access to credit. Therefore, you may be willing to put up with any interest rate that your lenders want to charge you, since you think that many other lenders ...
    Continue Reading
  • Can I Keep My Tax Refund If I File Bankruptcy?

    Posted By admin || 1-Mar-2012

    Keeping Your Tax Refund After You Filed Bankruptcy Tax season can be an exciting time of the year for those who are expecting a large refund but if you are set to file bankruptcy, you may wonder if your refund will be targeted by the bankruptcy trustee. While your tax refund may be considered an asset, it is possible you may be able to keep your refund but it may depend on different factors such ...
    Continue Reading
  • Credit & Debt Counseling Requirements Upon Bankruptcy Filing

    Posted By admin || 29-Feb-2012

    Credit & Debt Counseling Requirements For Bankruptcy If you are considering filing for bankruptcy, you'll want to review the credit counseling requirements that need to be completed in order for debt to be discharged. There are organizations that have been approved by the federal government to provide credit counseling and debtor education. Debtor education is also a mandatory requirement that ...
    Continue Reading
  • Declaring Bankruptcy in Dallas: When Should You Stop Paying Your Bills?

    Posted By admin || 28-Feb-2012

    When Should You Stop Paying Your Bills During Bankruptcy Let's face it: you dream of the day when you can finally finish paying your bills and declare yourself as debt-free. But with the shape your personal finances are in, you don't foresee that day coming for a long time. So instead of declaring bankruptcy in Dallas, you decide to continue slogging through your bill pile, hoping that you'll ...
    Continue Reading
  • Common Mistakes that Can Derail Your Dallas Bankruptcy

    Posted By admin || 28-Feb-2012

    Filing for a Dallas bankruptcy should be a straightforward, relatively painless process. All you have to do is report your liabilities and assets to your Dallas bankruptcy attorney, ensure that you follow his or her advice carefully, and wait for just a few months for your debts to be discharged. However, like love, the course of bankruptcy doesn't always run so smoothly - especially if you make ...
    Continue Reading
  • Can a Credit Card Company Protest My Bankruptcy Petition?

    Posted By admin || 27-Feb-2012

    Debtors overwhelmed with credit card debt may look to file bankruptcy to help them get a fresh start. While there are qualifications to being eligible to file there is also the possibility of a credit card company protesting or blocking your petition. The chances are relatively small and there are measures you can to reduce the risk of the action being carried out when you start the bankruptcy ...
    Continue Reading
  • Common Reasons Why a Bankruptcy Case Gets Dismissed

    Posted By admin || 24-Feb-2012

    Reasons for Bankruptcy Dismissal Debts are eliminated if they are discharged in a bankruptcy but in a dismissal debts will not be eliminated. A dismissal of bankruptcy occurs when the case is terminated by a federal judge and there are several reasons why this action may happen. The most common reasons for bankruptcy dismissal are listed below: False information was presented in the bankruptcy ...
    Continue Reading
  • What is the Means Test and How Does it Determine Bankruptcy Eligibility?

    Posted By admin || 23-Feb-2012

    What is the Means Test? The means test helps in determining eligibility for Chapter 7 bankruptcy by reviewing personal income. Chapter 7 has specific income requirements that must be met in order to file. If you are determined to be in a higher income bracket, you'll likely be eligible to file Chapter 13 bankruptcy. The means test reviews your income and gets an idea of what expenses you have on a ...
    Continue Reading
  • If I File Bankruptcy Can I Keep My Credit Cards?

    Posted By admin || 21-Feb-2012

    To many consumers, this may be an odd question since the overall purpose of bankruptcy is to eliminate debt. While many debtors often include credit card accounts they are unable to pay, some may have a credit card account that is in good standing. A debtor may feel that the account in good standing may help them continue to build credit after bankruptcy but this theory may not be as simple as you ...
    Continue Reading
  • Actions You May Want To Avoid If Planning To File Bankruptcy

    Posted By admin || 21-Feb-2012

    Debtors looking to seek bankruptcy protection often are unable to make debt payments or want to have their debt reorganized so that it is easier pay on what is owed. Bankruptcy can help debtors deal with their finances but certain financial decisions made before filing may make your case more challenging and even decrease chances of getting qualifying debt discharged. Since bankruptcy laws can be ...
    Continue Reading
  • Can Judgments Related to Unsecured Debt be Discharged in Bankruptcy?

    Posted By admin || 20-Feb-2012

    If you are being sued bankruptcy may be an option to consider. Chapter 7 bankruptcy allows for qualifying debt to be discharged while Chapter 13 bankruptcy restructures debt. A discharge means the debtor will not be obligated to pay toward the judgment. Many debtors have been able to get judgments discharged but it often depends on who and why the lawsuit was filed against you. As a debtor, if you ...
    Continue Reading
  • The Most Popular Questions About Personal Bankruptcy

    Posted By admin || 20-Feb-2012

    There's no denying that each individual will need to approach the issue of personal bankruptcy in his or her own unique way. However, with that being said, most individuals express the same concerns when filing for Chapter 7 or Chapter 13 bankruptcy. They worry that they'll end up losing their homes, or they're concerned about how long a bankruptcy will remain on their credit scores. That's why we ...
    Continue Reading
  • What Kind of Debts are Eliminated with a Dallas Bankruptcy?

    Posted By admin || 17-Feb-2012

    For some reason, many people have different ideas about what types of debts are eliminated in a bankruptcy. Ask any one of your friends or family members, and you'll experience a myriad of opinions. Some will insist that you'll lose your house to bankruptcy, while others are convinced that all debts - even tax debts and student loans - are eliminated by filing a bankruptcy in Dallas. If you are ...
    Continue Reading
  • Do You Need to File for Bankruptcy? The Psychological Signs to Look For

    Posted By admin || 10-Feb-2012

    For some reason, bankruptcy has earned a tarnished reputation; as a result, many people fear getting the debt relief they need by filing for a Chapter 7 or Chapter 13 bankruptcy. They continue to throw their hard-earned money at mountains of debt, despite the fact that the mountain isn't getting any smaller. They think that with faithful attempts at debt repayment, they'll eventually come ...
    Continue Reading
  • Why Do You Need to Undergo Credit Counseling After Bankruptcy?

    Posted By admin || 9-Feb-2012

    Why You Need Credit Counseling After Bankruptcy By now, you probably have heard that the new bankruptcy laws enacted in 2005 require all petitioners to undergo credit counseling for a bankruptcy to be successful. While you're certainly not opposed to undergoing credit counseling, you may wonder why such an emphasis is placed on this requirement. After all, doesn't it stand to reason that filing ...
    Continue Reading
  • How Long Before the Bankruptcy Process is Complete?

    Posted By admin || 8-Feb-2012

    How Long Does Bankruptcy Take? While it's possible to get debt relief in a matter of months, the length of the bankruptcy process will depend on what chapter is filed. Whether it's Chapter 7 or Chapter 13, each option offers relief under different rules and it may depend on the amount of debts included in your filing. Chapter 7 is commonly filed and it is usually completed in around four to six ...
    Continue Reading
  • How to Get Back on Track After A Dallas Bankruptcy

    Posted By admin || 7-Feb-2012

    After you've successfully filed for your Dallas bankruptcy, you may feel like the last thing you want to do is touch a credit card or consider taking out a loan. Besides, the whole reason why you had to file for a Chapter 7 or Chapter 13 bankruptcy is because of credit cards and loans in the first place - so it makes sense to never deal with them again... Right? Actually, you'll discover that many ...
    Continue Reading
  • The Finer Details of Declaring Bankruptcy

    Posted By admin || 7-Feb-2012

    Filing for a Chapter 7 or Chapter 13 bankruptcy may seem like a pretty straightforward process: hire a qualified bankruptcy attorney, submit your assets and debts to the bankruptcy courts, and wait six to nine months for your debts to be discharged or re-arranged. While you may want to leave the finer details to declaring bankruptcy up to your attorney, it pays to know the fine print of a Chapter ...
    Continue Reading
  • Common Questions about Bankruptcy

    Posted By admin || 6-Feb-2012

    If you're not familiar with how bankruptcy works its common to have questions about the process. If you have been struggling to pay your debt and continue to fall further behind, bankruptcy is an option worth researching. The following questions are often asked by those who are considering bankruptcy as a possible solution: Q: What is bankruptcy? A: A federal court process that allows ...
    Continue Reading
  • Finding Loans After Declaring Bankruptcy

    Posted By admin || 6-Feb-2012

    Trying to Get a Loan After Bankruptcy? After declaring bankruptcy, you may be tempted to swear off all loans and credit cards forever. However, nothing is better for your financial health than responsibly using lines of credit (with the emphasis on "responsibly"). But finding loans after declaring bankruptcy might feel like the proverbial search for a needle in a haystack. If this sounds familiar ...
    Continue Reading
  • Do I Need to Tell Creditors I Plan to File Bankruptcy?

    Posted By admin || 2-Feb-2012

    Notifying your creditors about your decision to file bankruptcy is a personal option. It may depend on how comfortable you are talking about it as well as how soon you plan to file. Many people who file often don't say anything to their creditors, instead they wait till the courts notify them in order to stop collections efforts. There's no way of knowing how creditors will react to your intention ...
    Continue Reading
  • Easy Steps to File for Chapter 7 or Chapter 13 Bankruptcy

    Posted By admin || 2-Feb-2012

    When you're buried under a mountain of debt, you might feel like it'll take a lifetime to put a single dent in your financial burdens. However, bankruptcy provides you with the lifeline you need to wipe your financial slate clean - and this article will make it easier for you to file for a Chapter 7 or Chapter 13 bankruptcy. Whether you're determined to file for bankruptcy or still considering ...
    Continue Reading
  • Can I Avoid Getting Sued by Filing Bankruptcy?

    Posted By admin || 1-Feb-2012

    How to Avoid Getting Sued There are different options available that may help you avoid getting sued but if often depends on your personal situation. If you are able to make payments you may consider debt consolidation, debt settlement or work out an agreement with your creditor that allows you to make smaller payments that may be less than the minimum amount to keep the account in good standing. ...
    Continue Reading
  • Can Payday Loans be Discharged in Bankruptcy?

    Posted By admin || 31-Jan-2012

    Discharging Payday Loans in Bankruptcy Payday loans allow you to borrow against your next paycheck. When you apply you submit a post-dated check for the amount you borrow including interest fees. Upon getting your paycheck you either pay the loan off in cash or give the company permission to take the funds from your bank account by cashing the check that was previously written. For many consumers, ...
    Continue Reading
  • Can Creditors Continue to Contact Me After My Bankruptcy Has Been Discharged?

    Posted By admin || 30-Jan-2012

    Once your bankruptcy filing has been completed and debt has been discharged, you would think you no longer owe on the debt and you can move forward with a clean slate. Unfortunately, some debt collectors think otherwise and want to continue their collection efforts regardless of your account being discharged by the court. In short, they should not continue with collection actions against you. They ...
    Continue Reading
  • The Right Questions to Ask Your Dallas Bankruptcy Lawyer

    Posted By admin || 26-Jan-2012

    When it comes to interviewing your Dallas bankruptcy lawyer, there's the right way to go about it - and then there's the way that could cause you to accidentally hire a sub-par attorney. The truth of the matter is that interviewing potential bankruptcy attorneys comes down to the power behind your questions. Ask the right ones, and you'll discover if a bankruptcy lawyer is worth your time and ...
    Continue Reading
  • What is the Difference between Debt Settlement and Bankruptcy?

    Posted By admin || 26-Jan-2012

    Differences Between Debt Settlement and Bankruptcy Dealing with debt is common among many consumers but when you have too much of it, debt can make your life miserable when it gets out of control. While there are options to help you resolve debt issues it's important to review them carefully before deciding on a process. Debt settlement and bankruptcy have similar purposes as far as helping ...
    Continue Reading
  • Reviewing Your Options Before Filing Bankruptcy

    Posted By admin || 25-Jan-2012

    The bankruptcy process for many may actually begin long before you actually have paperwork filed with the court. Deciding whether or not to file should be reviewed beforehand and it may include talking to several professionals about your financial situation. Not only will you be reviewing your situation, you'll also be able to collect useful information that will help you determine the best ...
    Continue Reading
  • Common Myths about Bankruptcy

    Posted By admin || 24-Jan-2012

    Bankruptcy is always getting a bad wrap due to the fact that there are so many untrue statements about the process. In order to understand bankruptcy it helps to do research on the procedure. Bankruptcy has helped thousands of consumers gain control of their financial situations. Many people are quick to downplay bankruptcy as an option simply because of something they have heard that's not true. ...
    Continue Reading
  • What You Should Know When Considering Bankruptcy for Debt Relief

    Posted By admin || 24-Jan-2012

    Considering Bankruptcy for Debt Relief? Bankruptcy is a federal court proceeding that allows debtors to solve their debt issues through liquidation or reorganization. Chapter 7 allows qualifying unsecured debt to be discharged while Chapter 13 restructures debt. In order to have debt discharged, debtors are required to get credit counseling by an approved provider. Chapter 7 bankruptcy is commonly ...
    Continue Reading
  • Before You Contact Your Dallas Bankruptcy Attorney: Planning

    Posted By admin || 24-Jan-2012

    If you're ready to make 2012 the year you finally wipe your financial slate clean and start over again, then congratulations: declaring bankruptcy is one of the biggest steps you can take towards reclaiming your financial future. But before you pick up the phone to call your Dallas bankruptcy attorney, you'll need to sit down and take an honest assessment of your finances. You might think this ...
    Continue Reading
  • Can I Add Another Debt After Bankruptcy Has Been Filed?

    Posted By admin || 23-Jan-2012

    Can I Add Another Creditor After I've Filed Bankruptcy? When you decide to declare bankruptcy you will report information about your creditors to your bankruptcy attorney. A schedule is completed that shows the names and addresses of each creditor. Usually you will have the opportunity to view the listing before it goes to court to be reviewed by the judge and if you notice that a creditor is ...
    Continue Reading
  • Bankruptcy and Credit Card Use: What You Need to Know

    Posted By admin || 23-Jan-2012

    Bankruptcy and Credit Card Usage If you're struggling under a mountain of debt, you might have already toyed with the idea of declaring Chapter 7 or Chapter 13 bankruptcy. Perhaps it was just a flitting thought, or maybe you're seriously considering it. But no matter what stage you're at in any pre-bankruptcy planning, it's vital for you to line up your proverbial ducks just in case you need to ...
    Continue Reading
  • Deciding to File Bankruptcy after Gaining Employment

    Posted By admin || 20-Jan-2012

    Filing Bankruptcy After Employment A lengthy period of unemployment often contributes to growing debt obligations. After finally gaining employment you feel like you have the opportunity to get your finances back on track, or at least, work toward getting your finances in better order. When you were out of work you may have explored the option of filing for bankruptcy. For some, upon gaining ...
    Continue Reading
  • What Debts Can Be Included in a Bankruptcy Filing?

    Posted By admin || 19-Jan-2012

    Bankruptcy has helped many consumers who have been struggling to pay their bills get a fresh start with their finances. The option allows you to discharge or wipe away qualifying debts with a Chapter 7 bankruptcy. Chapter 13 bankruptcy will restructure your debt into a manageable repayment plan. While bankruptcy lets you include a wide range of debt, it is important to understand that certain ...
    Continue Reading
  • Protect Your Identity During and After Bankruptcy

    Posted By admin || 18-Jan-2012

    Protecting Your Identity and Bankruptcy It's safe to say that filing for bankruptcy is one of the few times in your life when you'll expose every financial detail about yourself. From credit reports to tax returns, no financial stone will be left unturned - and that can lead to some startling discoveries regarding potential identity theft. Identify theft is rife, and can happen to anyone, ...
    Continue Reading
  • What Helps Determine If You Should File For Bankruptcy?

    Posted By admin || 18-Jan-2012

    Determining If You Should File For Bankruptcy Bankruptcy may be your best option if you have exhausted other debt reduction options and still find yourself falling further behind. Even if you have filed bankruptcy in the past, you may qualify to file again. If you are considering bankruptcy it is important to review outstanding debt amounts, understand what debt can be included in bankruptcy and ...
    Continue Reading
  • Do Married Couples Have to File Bankruptcy Together?

    Posted By admin || 18-Jan-2012

    Married Couples and Bankruptcy While married couples have the option to file jointly, either spouse has a right to file separately. Filing separately usually makes sense if you and your spouse have separate accounts with creditors before making the decision to file. There are a few issues to keep in mind that could affect your spouse if a bankruptcy filing is completed. Filing for bankruptcy may ...
    Continue Reading
  • Credit Repair After Bankruptcy: The Steps You Must Take

    Posted By admin || 16-Jan-2012

    Credit Repair After Bankruptcy After declaring Chapter 7 or Chapter 13 bankruptcy, you might feel tempted to shun your financials for a little while. After all, you've probably spent months staring at financial statements and bills with your bankruptcy lawyer - and the last thing you want to do is look at more! However, if you want to engage in credit repair after bankruptcy, there are certain ...
    Continue Reading
  • Know What to Expect After Filing Bankruptcy

    Posted By admin || 16-Jan-2012

    Filing bankruptcy - as with most financial decisions - should never be taken lightly. After all, a Chapter 7 or Chapter 13 bankruptcy has the power to stay on your credit score for years to come. And in those following years, you could miss out on opportunities if you don't know how to use your new financial skills. However, bankruptcy isn't necessarily the "black mark" it was once considered to ...
    Continue Reading
  • Avoiding Bankruptcy? Then You May Be in Debt for Life

    Posted By admin || 13-Jan-2012

    Trying to Avoid Bankruptcy? The title of this article might shock you; after all, you're avoiding bankruptcy because you want to maintain good financial behavior. Everyone has been telling you that bankruptcy will ruin your credit for life, and you're not ready to give up the good fight yet. So you keep chipping away at those debts and letting your money worries keep you up at night, hoping that ...
    Continue Reading
  • How to Locate a Great Bankruptcy Lawyer in Dallas

    Posted By admin || 13-Jan-2012

    When it comes to declaring a Chapter 7 or Chapter 13 bankruptcy, it's crucial to have the right team of experts by your side. That's why locating and selecting a great bankruptcy lawyer in Dallas is one of the most important steps you'll take when declaring bankruptcy. A great bankruptcy attorney can do more than explain the often complicated world of bankruptcy - he or she can also help protect ...
    Continue Reading
  • Bankruptcy in Dallas: What You Need to File

    Posted By admin || 12-Jan-2012

    There's no denying that it's time to file for bankruptcy. You've been struggling with insurmountable debts for several years now, and it's not getting better anytime soon. The debts are piling up, creditors are pounding on your door, and you've been losing sleep at night over how you can pay for these bills. Fortunately, filing for bankruptcy can finally give you the peace of mind you need. While ...
    Continue Reading
  • Does Bankruptcy Credit Counseling Really Work?

    Posted By admin || 10-Jan-2012

    Bankruptcy Credit Counseling Whether you declare a Chapter 7 bankruptcy or a Chapter 13 bankruptcy, the courts will require that you enroll in and successfully complete a credit counseling class before you can have your debts discharged. This is more than just a mandatory part of declaring bankruptcy - the courts regard it as a crucial move that will help you stay out of the bankruptcy courts for ...
    Continue Reading
  • Bankruptcy Regulations That Could Affect You

    Posted By admin || 6-Jan-2012

    Bankruptcy Regulations Bankruptcy can certainly come in handy when it's time to protect your finances - and your mental well-being. After all, if you've been struggling to repay insurmountable debts for years now, filing for a Chapter 7 or Chapter 13 bankruptcy can give you the light at the end of the tunnel you've been searching for. But that doesn't necessarily mean bankruptcy will give you the ...
    Continue Reading
  • Does Bankruptcy Affect Lawsuits that are Pending?

    Posted By admin || 6-Jan-2012

    Bankruptcy and Pending Lawsuits In many cases, bankruptcy can affect lawsuits pending against you depending on the chapter filed. Chapter 7 bankruptcy discharges debt while Chapter 13 restructures debt. It's common for consumers to seek bankruptcy protection if being sued but depending on the debt in question, bankruptcy may or may not impact the lawsuit. A lawsuit that results in wage garnishment ...
    Continue Reading
  • Ready to File for Bankruptcy?

    Posted By admin || 5-Jan-2012

    You're Certain You're Ready to File for Bankruptcy You're sick of dealing with the financial burden that comes with years of debt. You're tired of feeling like lenders and debt collectors are constantly harassing you - and you're ready to do whatever it takes to make them go away. That's why you've started researching bankruptcy; and as far as you're concerned, it seems like the best option for ...
    Continue Reading
  • How Can I File Bankruptcy if I am Unemployed?

    Posted By admin || 4-Jan-2012

    Filing Bankruptcy When Unemployed Being in a tough financial situation can make decision making a challenging process. Unemployment often doesn't make things any better. While many who are unemployed think it is impossible to file bankruptcy, depending on your situation it may make sense to file when you gain employment. Review your situation in detail with a qualified bankruptcy attorney. One of ...
    Continue Reading
  • When Debt and Unemployment Lead to Bankruptcy

    Posted By admin || 3-Jan-2012

    Unemployment creates a challenging situation with finances and even with different tips and strategies many people find themselves still struggling to pay their bills each month. With no assets or savings, constant calls from collection agencies or receiving a summons for a lawsuit can make dealing with debt obligations overwhelming. To make matters worse, you end up being jobless much longer than ...
    Continue Reading
  • Are Child Support Payments Considered Income In Bankruptcy?

    Posted By admin || 2-Jan-2012

    For the purposes of the bankruptcy means test, child support payments are treated as income. For some bankruptcy debtors, the treatment of child support payments as income will push them over the maximum income threshold required to file Chapter 7 bankruptcy. If this happens, the bankruptcy debtor will need to repay some of their debts in Chapter 13 bankruptcy. So how should a debtor maneuver if ...
    Continue Reading
  • Your Job Search and Bankruptcy

    Posted By admin || 2-Jan-2012

    In today's current economic climate, your job search and bankruptcy may not initially seem to be connected. After all, with so many people declaring bankruptcy - and with the sheer number of individuals searching for jobs - it's understandable to think that prospective employers might be more sympathetic to bankruptcies, if not unconcerned altogether. You may already know that declaring bankruptcy ...
    Continue Reading
  • Surprising Things to Consider When Filing for Bankruptcy

    Posted By admin || 28-Dec-2011

    When it comes to things to consider when filing for bankruptcy, you might think you have all your ducks lined up, so to speak. You've contacted a great bankruptcy attorney. You have all of your paperwork in order. You've even researched the topic of bankruptcy, so you know exactly what to expect from the moment you file that paperwork. However, there are a few surprises that even the simplest of ...
    Continue Reading
  • Why You Should File Bankruptcy Before A Creditor Lawsuit

    Posted By admin || 23-Dec-2011

    Filing Bankruptcy Before a Creditor Lawsuit With the rise in delinquencies, many creditors are turning to the courts to help them collect on debt. This means that more debtors are facing creditor lawsuits which can be both costly and time consuming. So should a debtor wait until after the lawsuit is filed and a legal battle ensues to file bankruptcy? Or, should they file bankruptcy as soon as ...
    Continue Reading
  • Bankruptcy Mistakes That Bite Back

    Posted By admin || 21-Dec-2011

    You may think you're ready to file for bankruptcy - but unless you have the aid of a bankruptcy lawyer by your side, you could end up making a crucial mistake that will ruin your finances for years. Pointing out that bankruptcy is complicated is definitely an understatement. Between the paperwork, the complexity of the process and the sheer length of time it takes to discharge your debts (it can ...
    Continue Reading
  • Sole Proprietors vs. Corporations In Bankruptcy

    Posted By admin || 21-Dec-2011

    Sole Proprietors and Corporations In Bankruptcy There are some important differences in the way bankruptcy courts treat sole proprietors versus corporations. Let's take a look at a few: Individual vs. Corporate Entity The bankruptcy trustee will view a sole proprietor's business assets the same as their personal assets for the purpose of repaying creditors. This means that business assets might ...
    Continue Reading
  • Three Characteristics Your Company Needs To Survive Bankruptcy

    Posted By admin || 19-Dec-2011

    Characteristics Your Company Needs To Survive Bankruptcy Bankruptcy is one of the most powerful tools available to businesses facing financially difficult times; but how does an owner know if their company can survive the bankruptcy process? Below are a few characteristics your company needs to survive bankruptcy: Flexibility Your company and core stakeholders are flexible and prepared to change - ...
    Continue Reading
  • Cautions To Take When Planning Your Bankruptcy

    Posted By admin || 16-Dec-2011

    The most successful bankruptcy filings involve careful planning on the part of the debtor and their bankruptcy attorney. However, all pre-bankruptcy planning should be done carefully. Below are a few things debtors should use caution with when planning their bankruptcy: Quitting A Job When a debtor files for bankruptcy, they may need to take the means test to determine if they have enough ...
    Continue Reading
  • What Is Fraudulent Conveyance In Bankruptcy?

    Posted By admin || 16-Dec-2011

    What is Fraudulent Conveyance in Bankruptcy? Fraudulent conveyance is when a bankruptcy debtor transfers something of value, such as cash, real estate or other assets to someone or something else. If this transfer of wealth is made with the intention of defrauding the creditors, made while the debtor is insolvent or is transferred for considerably less value than it's worth, the bankruptcy trustee ...
    Continue Reading
  • What To Consider When Choosing A Bankruptcy Attorney

    Posted By admin || 16-Dec-2011

    Choosing the right bankruptcy attorney is one of the most important steps in filing for bankruptcy. Below are a few tips on what every debtor should consider when they hire a bankruptcy attorney: Choose Local Make sure that you chose a bankruptcy attorney who not only lives in your state; but is familiar with your state's bankruptcy laws. Each state has its own set of bankruptcy regulations, ...
    Continue Reading
  • How To Avoid Pre-Bankruptcy Holiday Mistakes

    Posted By admin || 15-Dec-2011

    It's the season of giving again which often means racking up tons of debt on top of the debt already owed. But if one of your New Year's resolutions is to consider your bankruptcy options, you will want to avoid the biggest mistakes bankruptcy filers make during the holidays. Below are a few tips: Consider Your Bankruptcy First The biggest mistake that debtors make during the holidays is spending ...
    Continue Reading
  • Unloading Tenant-In Common Investments In Bankruptcy

    Posted By admin || 15-Dec-2011

    TICs and Bankruptcy During the real estate boom, many investors sunk money into TICs or what's commonly known as tenant-in-common real estate investment structures. These investment entities allowed investors to own shares in properties which they could not individually afford. But when the real estate industry collapsed in 2008, many of these TICs went down with it. And because co-owners of TICs ...
    Continue Reading
  • Stop One of the Biggest Causes of Bankruptcy in its Tracks

    Posted By admin || 14-Dec-2011

    When you think of bankruptcy, do you think of people who've suffered from medical emergencies? Do you envision a bankruptcy court that's filled with individuals who've been irresponsible with their money? If that sounds familiar to you, then it's time to open up your mind to another cause of bankruptcy: credit card fraud. Recent statistics have indicated that credit card fraud costs American ...
    Continue Reading
  • Bankruptcy Protects Debtors From Unreasonable Attorney Fees

    Posted By admin || 14-Dec-2011

    Bankruptcy and Unreasonable Attorney Fees Besides the fear of affordability, many debtors fear that the fees charged for their bankruptcy case may be unreasonable. Fortunately, the bankruptcy code has anticipated the need to protect debtors from unreasonable attorney fees. Below we examine what is considered unreasonable and how debtors are protected: Freedom From Excessive Fees Section 329 of the ...
    Continue Reading
  • Business Rights, Obligations And Responsibilities In Bankruptcy

    Posted By admin || 14-Dec-2011

    When a business owner files bankruptcy, they have certain rights, obligations and responsibilities. Let's take a closer look at a few of the facts: Right To Operate If a debtor places their business in Chapter 11 bankruptcy, they generally have the right to continue to operate while they restructure their debts. However, if at any point it looks like the bankruptcy debtor is mismanaging the assets ...
    Continue Reading
  • When Bad Bankruptcy Lawyers Attack: How to Spot These Warning Signals

    Posted By admin || 13-Dec-2011

    How to Spot a Bad Bankruptcy Attorney Many financial experts agree that filing bankruptcy is a way to wipe the financial slate clean and start over again - and if you want to file the right way, you'll need to hire a high-quality bankruptcy lawyer with a superior track record. But this presumes the fact that you know exactly what to look for in a great lawyer. Like with most lawyers, there are ...
    Continue Reading
  • What Is Abandoned Property In Bankruptcy?

    Posted By admin || 13-Dec-2011

    Abandoned Property In Bankruptcy When a debtor files bankruptcy, all of their property becomes part of the bankruptcy estate. The bankruptcy estate is basically a structure which takes ownership of all property (not physical ownership in most cases) and then liquidates any property it has a right to liquidate. When filing bankruptcy, the debtor works with their attorney to determine the value of ...
    Continue Reading
  • Debt Settlement A Risky Alternative To Bankruptcy

    Posted By admin || 13-Dec-2011

    Logic says that most lenders would be more than willing to negotiate debt settlements with debtors in this time of economic turmoil; but the reality shows something different. Instead of becoming more reasonable, many lenders are becoming less reasonable and more desperate as more debtors fall into the trap of unemployment. Many of these debts are passing on to third-party bill collectors who only ...
    Continue Reading
  • Bankruptcy Rights: Allowable Post-Filing Communication From Creditors

    Posted By admin || 12-Dec-2011

    Post-Filing Communication From Creditors After Bankruptcy Generally speaking, creditors do not have the right to contact a debtor after they have filed bankruptcy. Once the creditor has received notice of a debtor's bankruptcy filing they are barred from contacting the debtor or attempting to collect on any debt owed. However, there is a gray area where certain types of communication may be ...
    Continue Reading
  • Can You Afford More Loans - Or Is It Time For Bankruptcy?

    Posted By admin || 9-Dec-2011

    When it comes to covering massive amounts of bills or finding the funds for financial emergencies, many people turn to loans, rather than filing for bankruptcy. Thanks to the negative stigmas surrounding bankruptcy, many people avoid it - and that often is to the detriment of their financial freedom. You may think you can afford those monthly minimum payments. But when it comes down to it, can you ...
    Continue Reading
  • Bankruptcy For Corporations But Not Municipalities?

    Posted By admin || 9-Dec-2011

    Harrisburg, Pennsylvania tried to join the growing number of municipalities who have exercised their right to file Chapter 9 bankruptcy; but now they face legal challenges by the state. Seeing that the city was poised to file bankruptcy, the governor and state legislature designed a law to stop Harrisburg, now they want a U.S. bankruptcy judge to throw out the Chapter 9 bankruptcy and allow ...
    Continue Reading
  • Is Your Bankruptcy Attorney Ripping You Off?

    Posted By admin || 9-Dec-2011

    Are you getting what you paid for when you decided to file bankruptcy? Don't look now, but your bankruptcy attorney may be robbing you blind. When it comes to filing for bankruptcy, too many of us look at them like a visit to the dentist: it's painful and complicated - but sometimes a very necessary part of life. We grimly choose the bankruptcy lawyers that offer us the best deal and sigh in ...
    Continue Reading
  • Reaffirmation Agreements: What You Don't Know Can Hurt You

    Posted By admin || 8-Dec-2011

    If a debtor is filing Chapter 7 bankruptcy and wants to keep property that has a loan attached to it, they may want to consider a reaffirmation agreement. However, there are a lot of things about reaffirmation agreements that debtor's either don't know or don't understand. And because reaffirmation agreements are binding after the bankruptcy discharge, this truly is a case of where lack of ...
    Continue Reading
  • The Dangers Of Using A Bankruptcy Petition Preparer

    Posted By admin || 8-Dec-2011

    Thinking About Using A Bankruptcy Petition Preparer? Many debtors believe they can't afford to file bankruptcy; but at the same time they know that without bankruptcy they won't have the power to protect their income and assets from aggressive creditors. Unfortunately, the solution they come up with is to take shortcuts. One of these shortcuts is working with a bankruptcy petition preparer instead ...
    Continue Reading
  • The Pivotal Moment to Apply for a Dallas Bankruptcy

    Posted By admin || 7-Dec-2011

    When it comes to the motivation behind applying for a Dallas bankruptcy (be it a Chapter 7, 11 or 13 bankruptcy), there are financial dry spells - and then there are financial emergencies. And unless you can tell the difference between the two, then you put yourself - and your finances - at risk for some serious penalties from credit bureaus. While filing for a bankruptcy can offer you a viable ...
    Continue Reading
  • How Soon Can Debtors Refinance A Mortgage After Bankruptcy?

    Posted By admin || 6-Dec-2011

    Refinancing a Mortgage After Bankruptcy Within a year or two after receiving a bankruptcy discharge, many debtors can refinance their mortgages under certain circumstances. Let's take a look at a few qualities mortgage lenders look for in post-bankruptcy debtors: Payment History Mortgage lenders want to see at least 12 consecutive months of on-time mortgage payments before they are willing to take ...
    Continue Reading
  • Filing Bankruptcy As A Cohabitating Couple

    Posted By admin || 5-Dec-2011

    Married couples facing financial difficulties have the right to file bankruptcy jointly. However, the same is not true for unmarried cohabiting couples. For couples who have co-mingled their finances but who are not legally married, filing bankruptcy offers it's on set of problems that require unique strategies. Let's take a look at a few facts: Joint Credit Accounts If you and your partner opened ...
    Continue Reading
  • How Does A Bankruptcy Trustee Identify Preferential Transfers?

    Posted By admin || 5-Dec-2011

    The issue of pre-bankruptcy asset transfers is discussed often; but most debtors aren't sure how a pre-bankruptcy transfer is determined to be preferential and reversible. Below are a few standards that bankruptcy trustees use when determining if a pre-bankruptcy transfer is preferential and needs to be reversed: Does It Benefit The Creditor? If a debtor simply paid their minimum payment on a ...
    Continue Reading
  • National Guard And Reservists Receive Bankruptcy "Means" Test Relief

    Posted By admin || 2-Dec-2011

    By approving the National Guard and Reservist Debt Relief Extension Act of 2011, the Senate has paved the way for National Guards and Reservists to receive relief from the bankruptcy means test through December 2015. "While our men and women in uniform have been placing their lives on the line, and while their families have made significant personal sacrifices, too many creditors have been using ...
    Continue Reading
  • Confirming A Bankruptcy Plan Despite Creditor Objections

    Posted By admin || 1-Dec-2011

    Fair and Equitable Treatment in Bankruptcy In a Chapter 13 or Chapter 11 bankruptcy, the bankruptcy court is allowed to confirm a repayment plan over the objections of secured creditors who are subject to a cramdown as long as their treatment of the secured creditors is "fair and equitable." A cramdown is the reduction of interest or principal on a debt. How does the bankruptcy court define fair ...
    Continue Reading
  • Warning Signs That Show It's Time to File for Chapter 11 Bankruptcy

    Posted By admin || 30-Nov-2011

    Filing for Chapter 11 bankruptcy might seem like a cut-and-dried decision. After all, if you're swimming under a pile of debt and can't seem to make your payments work, then it might seem like your next logical step is to file for Chapter 11 bankruptcy and wipe the proverbial financial slate clean. But for some high-income earners, filing for Chapter 11 bankruptcy - or any type of bankruptcy, for ...
    Continue Reading
  • When Can Debtors Avoid The Bankruptcy Means Test?

    Posted By admin || 30-Nov-2011

    Avoiding The Bankruptcy Means Test Not everyone is required to take the bankruptcy means test. If a debtor has primarily business debts or their household income is below their state's median household income level, then they don't need to take the means test. What Are Business Debts? Business debts are debts which were incurred due to business expenses. For example, if a bankruptcy debtor took ...
    Continue Reading
  • Is It Time To Declare Chapter 11 Bankruptcy?

    Posted By admin || 30-Nov-2011

    As a high-income earner, you might be reluctant to declare Chapter 11 bankruptcy; after all, it might seem reasonable to suppose that you'll make enough money to pay off your debts. But that belief can often belie the fact that no matter how much income or assets you have coming in, if your liabilities are sucking up your money - and then some - then it might be time to wave the white flag and ...
    Continue Reading
  • Dallas Bankruptcy 101: Dealing with Debt like a Pro

    Posted By admin || 29-Nov-2011

    It's no secret that many consumers are struggling with paying off all of their debts - and the increased amount of Dallas bankruptcy filings support these findings. It also comes as no surprise that there are people out there who are absolutely drowning in overdue bills and delinquent payments. Thanks to the sheer magnitude of the credit crunch, many families are feeling the financial squeeze as ...
    Continue Reading
  • Things You Must Tell The Bankruptcy Court

    Posted By admin || 29-Nov-2011

    Debtors filing Chapter 7 or Chapter 13 bankruptcy are required to divulge details of their financial lives so that the trustee can make a proper assessment of their financial situation and come up with a fair plan which will repay creditors as much as possible while allowing the debtor to get a fresh start. Below are some of the things debtors must include in their bankruptcy petition: All Income ...
    Continue Reading
  • How to Remove Negative Thoughts about Declaring Bankruptcy

    Posted By admin || 28-Nov-2011

    Ever wonder why you seem to have more trouble with money, no matter what steps you take to prevent it? For instance, you're on the brink of declaring bankruptcy, you're always living paycheck to paycheck, and you just can't seem to shake the feeling that you'll always be in debt for the rest of your life. In fact, you think that declaring bankruptcy is your punishment for being unable to manage ...
    Continue Reading
  • Don't Let Subprime Car Lenders Ruin Your Bankruptcy Fresh Start

    Posted By admin || 28-Nov-2011

    Since 1992, the number of subprime car loans has skyrocketed, showing no sign of slowing down even since the housing collapse. But for post-bankruptcy debtors, the subprime lending industry could cost them their financial fresh start. Below are a few things post-bankruptcy debtors should watch out for: Hidden Charges Post-bankruptcy debtors looking to purchase a new or used vehicle can end up ...
    Continue Reading
  • When to File Bankruptcy

    Posted By admin || 25-Nov-2011

    The question, "When to file bankruptcy?" has one obvious answer, when you can no longer afford to pay your bills. But there is much more involved in actually picking the right time to file your bankruptcy claim. There are qualifications that have to met met for each chapter of bankruptcy. If you want to file a Chapter 7 bankruptcy you must pass a means test. The means test looks at your income ...
    Continue Reading
  • What is a Bankruptcy Hardship Discharge?

    Posted By admin || 25-Nov-2011

    The Bankruptcy Hardship Discharge A Chapter 7 bankruptcy discharges most of your unsecured debt and nonexempt assets may be seized to pay off your debts. But to qualify for a Chapter 7 bankruptcy you need to pass a means test. People who do not pass the means test are typically, although not always, eligible to file a Chapter 13 bankruptcy instead. A Chapter 13 bankruptcy establishes a repayment ...
    Continue Reading
  • Sneaky Credit Card Tricks That Keep You From Declaring Bankruptcy

    Posted By admin || 24-Nov-2011

    Your credit card has been lying to you to prevent you from declaring bankruptcy. That's right - that piece of plastic in your wallet or purse wants you to think that it's a simple financial tool that requires little thought to use. After all, what's so complicated about a credit card: all you have to do is pay off more than the minimum payment per month, never carry over a balance and always look ...
    Continue Reading
  • How Does Bankruptcy Treat Co-Debtors?

    Posted By admin || 24-Nov-2011

    How Co-Debtors are Protected in Bankruptcy Filing bankruptcy will not only provide protection to the debtor filing bankruptcy; but may provide protection to their co-debtors under certain circumstances. Below we explore when and how co-debtors are protected in bankruptcy: What Is A Co-Debtor? A co-debtor is someone who is equally obligated for a debt owed by the bankruptcy debtor. For example, a ...
    Continue Reading
  • Bankruptcy or Debt Consolidation

    Posted By admin || 24-Nov-2011

    Should You File Bankruptcy or Consider Debt Consolidation? For people who are struggling under debt it may be difficult to uncover the best way to get out of the mess. There are two popular options for people with debt, consolidating their debt and bankruptcy. Debt consolidation lets people who are loaded with a lot of debt combine it all into one monthly payment. If your creditors agree to this ...
    Continue Reading
  • Texas Homestead Exemption Before And During Bankruptcy

    Posted By admin || 23-Nov-2011

    Texas Homestead Exemption According to Texas state law, a homeowner's profits from the sale of their homestead is exempt from creditor claims for six months. However, if a debtor is considering selling their home and filing bankruptcy, there are a few things they should consider first: No Compulsion To Sell A creditor cannot foreclose on a homestead in an attempt to satisfy a debt which is ...
    Continue Reading
  • What You Need To Know About Bankruptcy Exemptions

    Posted By admin || 23-Nov-2011

    One of the biggest mistakes of pro se bankruptcy debtors is that they often ignore bankruptcy exemptions to their detriment. It's not that they believe the exemptions are unnecessary, it's just that they don't understand the exemptions or they aren't aware that they have access to them. Below are a few things you need to know about bankruptcy exemptions: They Are Generous (Sometimes) Texas offers ...
    Continue Reading
  • Bankruptcy Counseling: Learn These Important Financial Terms

    Posted By admin || 22-Nov-2011

    Financial education has always been highlighted as one of the keys to success - and when you've just declared bankruptcy, it's more important than ever to stay on top of important (and often confusing) financial terms. After all, many brilliant consumers often crumble in the face of confusing or unclear financial terms - and the inability to comprehend these terms can start you on the path to ...
    Continue Reading
  • Bankruptcy Court Reduces Damages Due To Pre-Bankruptcy Misbehavior

    Posted By admin || 22-Nov-2011

    In a recent Chapter 13 bankruptcy case, the bankruptcy court significantly reduced both damages and attorney's fees awarded to a debtor who was the victim of an automatic stay violation. The bankruptcy court argued that the debtor engaged in behavior that contributed to his own large amount of legal fees and that his pre-bankruptcy behavior aggravated the situation. R.D. Affordable Foreign Auto ...
    Continue Reading
  • Should You File Bankruptcy Before A Creditor Lawsuit Is Filed?

    Posted By admin || 21-Nov-2011

    Filing Bankruptcy Before a Creditor Files a Lawsuit While bankruptcy offers a tremendous amount of protection for debtors even after a creditor files a lawsuit, filing bankruptcy before any lawsuit is filed against you may be a better strategy. Here's why: Pre-Bankruptcy Wages Unprotected If a creditor files a lawsuit and eventually garnishes a debtor's wages, pre-bankruptcy wages will not benefit ...
    Continue Reading
  • Declaring Bankruptcy Means Living Within Your Budget

    Posted By admin || 21-Nov-2011

    You've heard the words over and over: if you've declared bankruptcy, you need to learn how to live within a budget. Like with most things, a budget looks great on paper - yet can be one of the hardest things to follow, especially if you have a family. Fortunately, living within your means isn't impossible; with practice, you can make your budget work for your lifestyle, and even have some leftover ...
    Continue Reading
  • Changes with the Bankruptcy Abuse Reform Act

    Posted By admin || 18-Nov-2011

    What is the Bankruptcy Abuse Reform Act? The Bankruptcy Abuse Reform Act of 2005 was designed to change the bankruptcy in the United States to prevent abuse. To do this they implemented several changes which each person has to comply with in order to complete bankruptcy. These changes are: Within 180 days before your bankruptcy is completed you have to seek credit counseling from an approved ...
    Continue Reading
  • Qualifying for Bankruptcy

    Posted By admin || 18-Nov-2011

    In 2005 the government decided to overhaul the bankruptcy program in an effort to prevent abuse and fraud. The Bankruptcy Abuse Reform Act does this by looking at a person's income for the last six months and comparing it to incomes in the rest of the state. For people who want to file bankruptcy, for people seeking bankruptcy this means they have to pass a Means Test or a Median Test to see if ...
    Continue Reading
  • Pros and Cons of Filing a Joint Bankruptcy

    Posted By admin || 17-Nov-2011

    Thinking About Filing a Joint Bankruptcy? First, let's be clear that only legally married people can file for joint bankruptcy. Same sex couples are gaining some ground in this arena, but they cannot have a civil union, they too have to have a legal marriage to be able to file joint bankruptcy. While married couples have the option of filing together in a joint bankruptcy petition or individually, ...
    Continue Reading
  • Is It Possible To Get A Car Loan After Declaring Bankruptcy?

    Posted By admin || 17-Nov-2011

    Getting a Car Loan After Bankruptcy You've had to declare bankruptcy - but that doesn't mean your needs for big-time purchases have been put to an end. If you need to purchase a car - and you have the mark of bankruptcy on your credit score - it's easy to think that a dealer or lender will not let you borrow any money to purchase a car. Here's the good news: thanks to the long-lasting effects of ...
    Continue Reading
  • After Bankruptcy: Smarter Spending Tips to Save More Money

    Posted By admin || 16-Nov-2011

    After filing bankruptcy, there's no denying that you'll need to learn new financial habits, such as smarter saving and spending techniques. You also know that buying much-needed products during a sale will inevitability help to plug up wasteful spending and help you put more money towards your savings. But sales often occur at random times, and usually arrive without much fanfare. Add to the fact ...
    Continue Reading
  • Projecting Income In Bankruptcy

    Posted By admin || 16-Nov-2011

    Projecting Future Income in Bankruptcy When projecting future income in bankruptcy, debtors must determine what they can reasonably expect to earn in the near future. Below are few income scenarios that bankruptcy debtor's may face: Unemployment If a bankruptcy debtor is unemployed at the time of filing bankruptcy, their only projected income may be unemployment benefits. However, if they are ...
    Continue Reading
  • Could Pre-1970s Debt Limits Reduce Bankruptcy Filings?

    Posted By admin || 15-Nov-2011

    Before the deregulation of the debt industry in the 1970s, Americans were limited in how much debt they could take on. If they wanted to take out a mortgage, monthly payments could not be more than 30 percent of their paycheck, while car loans could take up no more than 10 percent of their monthly paychecks. And that's not all, once upon a time, the loans remained with the originating bank; but ...
    Continue Reading
  • High Income Bankruptcy Debtors Must Address The Issue Of Abuse

    Posted By admin || 15-Nov-2011

    Bankruptcy For People With High Income Despite the common misconception that high income earners cannot file Chapter 7 bankruptcy, it is entirely possible that they can. But for a high income earner trying to file Chapter 7 bankruptcy, they must overcome the presumption of abuse and make it clear that they are filing their case in good faith. Income vs. Expenses High income earners who qualify for ...
    Continue Reading
  • Bankruptcy's Impact On Social Security Benefits

    Posted By admin || 11-Nov-2011

    Bankruptcy and Social Security Benefits Debtors receiving or applying for social security benefits are often concerned that filing for bankruptcy will place those benefits at risk. But under provisions in the bankruptcy code and clarification reiterated by Congress, social security benefits and entitlements are not placed in jeopardy when a debtor files for bankruptcy. Social Security And The ...
    Continue Reading
  • After the Bankruptcy is Filed

    Posted By admin || 10-Nov-2011

    For some people filing a bankruptcy is a very difficult decision and once they've made it and actually filed for bankruptcy and the process is nearing the end they can breathe freely. A Chapter 7 bankruptcy typically goes by much more quickly than a Chapter 13 because of the way the bankruptcy is structured. A Chapter 7 is designed to discharge most if not all of your unsecured debt. A Chapter 13 ...
    Continue Reading
  • How To Handle Bank Accounts During Bankruptcy

    Posted By admin || 10-Nov-2011

    If you're considering bankruptcy, there are a few things you may need to do with your bank accounts to protect yourself from creditors. Let's take a look at a few: Close Your Bank Account If you have a delinquent debt account such as a credit card, mortgage or car loan with the same bank where you hold your checking or savings account, close that account before you file bankruptcy. If you keep ...
    Continue Reading
  • Definition of Bankruptcy Terms

    Posted By admin || 4-Nov-2011

    All legal issues come with a whole slate of new terms, bankruptcy is no different, so we'll help explain some of the most common ones you'll encounter. 341 Meeting A meeting between the bankruptcy filer, his/her creditors and the bankruptcy trustee so the trustee gets a better grasp of the entire situation and so either party can bring up concerns. Automatic Stay An automatic stay goes into effect ...
    Continue Reading
  • After Bankruptcy: The Positives You'll Immediately Experience

    Posted By admin || 3-Nov-2011

    The Positives of Bankruptcy It seems as though when anyone talks about bankruptcy, the negatives are always highlighted. For example, think back to the last conversation you had with a friend or family member about filing for bankruptcy. Did they focus on the positives of bankruptcy (a debt-free lifestyle, a fresh new start) - or did they immediately gasp in horror and highlight how bankruptcy ...
    Continue Reading
  • What Power Does a Bankruptcy Judge Have?

    Posted By admin || 3-Nov-2011

    If you're filing for bankruptcy you will quickly realize that your future and financial health is now in the hands of somebody else. For some people this is a huge relief because they've been so burdened and stressed by their own inability to handle their finances that letting go provides a sense of freedom. For others giving up financial control is stressful and causes even more emotional pain. ...
    Continue Reading
  • More Myths About Bankruptcy

    Posted By admin || 2-Nov-2011

    Researching whether bankruptcy is the best option is no easy task - especially when a large majority of what you find online tends to give credit to major bankruptcy myths. With rumors circulating that declaring bankruptcy will immediately be known by the public (in most cases, that's not true) to bankruptcy's permanent impact on your credit score (it's on there for seven to ten years); it's time ...
    Continue Reading
  • After Bankruptcy: Credit-Building Myths

    Posted By admin || 1-Nov-2011

    Credit-Building Myths After declaring bankruptcy, your primary focus might be to rebuild your credit score. After all, you know that while bankruptcy is a black mark on your credit score, it's not a death sentence for your finances: bankruptcy is on your credit score for seven to ten years, but lenders will start working with you if you show responsible financial behavior after just a few ...
    Continue Reading
  • Do I Have To Move Out Of My Home After Bankruptcy?

    Posted By admin || 1-Nov-2011

    If you intend to surrender your home in bankruptcy, you may wonder when you need to move out. Below are a few guidelines on when you may need to move out of your home: No Surprises First, it's important to know that there are no surprise evictions in bankruptcy. No one will suddenly show up on your doorstep and demand that you vacate the premises. There is a transparent process that the mortgage ...
    Continue Reading
  • Best Interest and Best Efforts Tests

    Posted By admin || 31-Oct-2011

    A Chapter 13 bankruptcy may seem like a bad idea, after all it's a repayment plan and not a debt discharge program like a Chapter 7 bankruptcy. But there are many reasons to choose a Chapter 13 bankruptcy over a Chapter 7, the main reason being that you want to protect some of your assets from seizure. Another reason is that you just don't pass the means test and a Chapter 7 bankruptcy is not an ...
    Continue Reading
  • What Debt Bankruptcy Doesn't Erase

    Posted By admin || 31-Oct-2011

    Bankruptcy is a tool that should be used by people who have experienced a financial crisis and need help to recover and start fresh. A bankruptcy can do several things to help you if you're overextended and drowning in debt but there are certain things that a bankruptcy cannot do. The problem is that there are a lot of misconceptions about bankruptcy and hopefully this will help clear some of that ...
    Continue Reading
  • Big-Time Bankruptcy Myths - Exposed

    Posted By admin || 28-Oct-2011

    Bankruptcy Myths Exposed When it comes to declaring bankruptcy, there are plenty of myths circulating out there - and some of them are doing serious damage to your finances. If you've ever put off filing for bankruptcy because you were embarrassed that everyone would find out or you put it off because you think it's going to permanently destroy your credit score, then it's time to grab a cup of ...
    Continue Reading
  • How To File Bankruptcy After A Move

    Posted By admin || 28-Oct-2011

    If you recently moved from one state to another, there are certain rules that will impact where and how you file bankruptcy. Let's take a look at a few of those rules and other considerations a debtor must make before filing bankruptcy after a move: Where You Moved Certain bankruptcy rules could impact your case if you moved from one state to another. If you only moved from one city or county to ...
    Continue Reading
  • Disposable Income and Bankruptcy

    Posted By admin || 28-Oct-2011

    Determining Your Disposable Income When you file for bankruptcy you'll need to determine your disposable income. There are a couple different ways to do this, one is more involved and detailed, but you may want to use more than one method to see which result is more useful for you when filing bankruptcy. Your disposable income is very important because it is a key figure when determining what ...
    Continue Reading
  • When Your Ex Files for Bankruptcy

    Posted By admin || 27-Oct-2011

    What Happens When Your Ex-Spouse File Bankruptcy? If you've gotten divorced and your ex-spouse decides to file for bankruptcy your first instinct may be joy that you got out before things got bad. But don't gloat too long, you may actually be responsible for part of their debt. The first thing you should do is review all of your previous debts from before, during and after your marriage. Most ...
    Continue Reading
  • Progressive Bankruptcy Laws Saves Businesses

    Posted By admin || 27-Oct-2011

    America has one of the most progressive bankruptcy codes in the world, but it's one of the biggest kept secret amongst both business and ordinary citizens. However, academics from around the country haven't overlooked how bankruptcy laws impacts entrepreneurship around the world. In a recent report published by Journal of Business Venturing, experts explore bankruptcy's impact. Let's take a look ...
    Continue Reading
  • How Is My Spouse Impacted By Bankruptcy?

    Posted By admin || 25-Oct-2011

    What Bankruptcy Does to Your Spouse Married debtors filing for bankruptcy without their spouse often worry about how it may impact their non-filing spouse's finances and ability to get credit. Let's take a look at a few ways that bankruptcy could impact a non-filing spouse: Joint Credit Cards And Other Accounts If the bankruptcy debtor's spouse is on their credit cards or other accounts as a joint ...
    Continue Reading
  • Why Credit Card Lenders Are Declaring War on You

    Posted By admin || 25-Oct-2011

    It comes as no surprise that the onslaught of the recession - coupled with exposure of some pretty nasty lending practices - has brought on more than a few changes in the financial world. From mortgage to loans and everything in between, consumers are starting to notice a significant change in the way that banks and lenders are doing business. But if you think that these changes are for your ...
    Continue Reading
  • What is a Bankruptcy Panel Trustee?

    Posted By admin || 24-Oct-2011

    If you've decided to file a Chapter 7 bankruptcy then you'll be assigned a trustee from a panel of people, typically lawyers. You will meet your panel trustee when you have your 341 meeting, which is where you answer questions about your assets and your financial situation. The panel trustee in a Chapter 7 is charged with reviewing your assets and debts and then selling available assets and ...
    Continue Reading
  • Is Bankruptcy a Woman's Issue?

    Posted By admin || 24-Oct-2011

    Do Women File Bankruptcy More Than Men? As politicians gear up for the 2012 elections, the number of bankruptcy filings by women continues to outpace men. While men filed their fair number of bankruptcies in the past few years, the number of women filers exceeded men by 150,000. When bankruptcy reform was considered in 2005, the impact on women, especially single mothers, weighed heavily into the ...
    Continue Reading
  • Your Finances After Bankruptcy: How to Build Up Your Credit Again

    Posted By admin || 20-Oct-2011

    Rebuilding Your Credit After Bankruptcy Rebuilding your finances after bankruptcy might seem like an impossible task. After all, once you have the mark of bankruptcy on your credit score, there's no way you can enjoy a healthy financial life again - right? Actually, while your credit score after a bankruptcy might be at an all-time low, it's a surprisingly ideal time to work on your credit score, ...
    Continue Reading
  • Retirement Accounts and Bankruptcy

    Posted By admin || 19-Oct-2011

    Bankruptcy and Your Retirement Account People who are in a financial situation where bankruptcy is a possible solution should learn the facts about how their retirement funds will be treated. Knowing how your retirement accounts will be treated in a bankruptcy may be all the information you need to make that decision of whether to file for bankruptcy or not. Most IRAs, or individual retirement ...
    Continue Reading
  • What is a Bankruptcy 341 Meeting?

    Posted By admin || 19-Oct-2011

    The Bankruptcy 341 Meeting If you file for bankruptcy you can expect to attend what's called a 341 meeting. This meeting gives both the person filing for bankruptcy and the creditors a chance to get together and speak with the bankruptcy trustee about the debts that are owed. The trustee is neither on the creditors nor the debtor's side, they're supposed to be rather neutral and determine the best ...
    Continue Reading
  • Bad Bankruptcy Advice You May Be Falling For

    Posted By admin || 18-Oct-2011

    When it comes to bankruptcy advice, it seems plenty of people are giving it - but not all of these people are actually qualified to be dispensing the kind of advice that could have such an impact on your credit score, your finances, and your life in general. Bad Bankruptcy Advice is Everywhere From the well-meaning but misinformed friend to the piles of misrepresentative articles that are floating ...