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Unlike most bankruptcy firms in the Dallas / Fort-Worth area, Allmand Law Firm, PLLC spends the time to understand the complete financial picture for every one of our clients. We provide resources, tools and advice to address the unique needs of North Texans.

Recent Posts in Filing Bankruptcy

  • 25-Nov-2010

    Chapter 11 Bankruptcy Repayment Plan Must Meet Trustee Standards

    In the Chapter 11 bankruptcy case, In re Charles R. Livecchi, Sr., the pro se debtor was forced into a Chapter 7 bankruptcy after he failed to present a realistic and repayment plan. On April 8, 2009, Appellant filed a voluntary Chapter 11 bankruptcy ...
  • 23-Jun-2010

    3 Signs You're Working With A Good Bankruptcy Attorney

    By this point, we're assuming that we no longer need to convince you of the importance of working with a professional bankruptcy attorney. Bankruptcy law is complex and requires the help of an experienced professional if the debtor plans to take full ...
  • 22-Jun-2010

    Bankruptcy And Special Needs Families

    More families who have special needs children or other disabled dependents are considering bankruptcy. Because a disability can become financially draining, causing families to rack up hundreds of thousands of dollars in debt, bankruptcy is often a ...
  • 22-Jun-2010

    The Duchess of York To File Bankruptcy?

    Sarah Ferguson (aka The Duchess of York) the former wife of Prince Andrew, the Duke of York, has announced that she may file for bankruptcy due to mounting debt troubles that have been dogging her for years. While she hasn't revealed exactly how much ...
  • 22-Jun-2010

    Six Signs That You're Suffering From Debt Related Stress

    You may be suffering from debt related stress if you notice that you are experiencing apathy and lack of energy. The feeling that you don't care about your finances, debts or other financial stress is ironically a sign that you may be suffering from ...
  • 20-Jun-2010

    Three Ways Debt Settlement Companies Can Ruin Your Finances

    Debt settlement is becoming very popular now that the recession is stretching into its third year. One of the appealing aspects of the debt settlement pitch is the idea that a debtor can pay only pennies on the dollar for a debt and avoid bankruptcy. ...
  • 18-Jun-2010

    Tax Debts And Chapter 13 Bankruptcy

    Debtors who file Chapter 13 bankruptcy will repay their debts partially or in full over a course of three to five years. Depending on their circumstances, they may be able to partially discharge their federal or state taxes. Below are a few rules ...
  • 18-Jun-2010

    When Chapter 11 Bankruptcy May Be Better For Investment Property Owners

    While many individual debtors opt for Chapter 11 bankruptcy only when they have exceeded the debt limits imposed on Chapter 13 bankruptcy debtors, there are situations when filing Chapter 11 bankruptcy may be beneficial even if the debtor is well ...
  • 14-Jun-2010

    Three Myths About Bankruptcy

    Debt is big business. That's why there are so many people out there invested in getting you indebted and keeping you that way. One of the ways they do this is by spreading myths about bankruptcy, which is the only legal way to have your debts ...
  • 14-Jun-2010

    How To Prevent Job Loss Related Financial Disaster

    The official national unemployment rate for the country is 9.7 percent. Millions of Americans are out of work and trying to figure out how to survive without a job. One of the biggest casualties of joblessness is not just the frustration and anger ...
  • 13-Jun-2010

    Five Benefits Of Filing Bankruptcy

    Debtors who file for bankruptcy immediately enjoy some of the unique benefits offered to them under the law. Let's take a look at some of the benefits of filing bankruptcy: Bankruptcy will stop creditors from calling you, sending you letters and ...
  • 12-Jun-2010

    Three Reasons Why Creditors Challenge A Debtor's Bankruptcy

    When Creditors Challenge A Bankruptcy Filing While it doesn't happen often, sometimes a creditor may challenge a debtor's Chapter 7 bankruptcy or Chapter 13 bankruptcy filing. Reasons a Creditor Might Challenge a Bankruptcy Filing Below are some of ...
  • 12-Jun-2010

    Why Your Vehicle Must Be Insured During Bankruptcy

    When a debtor files for bankruptcy, they are required to have insurance on their vehicle even if it is exempt, fully paid for and the debtor says he is not driving the vehicle. Because the debtor's property becomes part of the bankruptcy estate when ...
  • 11-Jun-2010

    What Businesses And Consumers Need To Know About The Fair Debt Collection Practices Act

    The Fair Debt Collection Practices Act only governs certain types of debt and does not protect businesses who owe business debt. The following are some of the requirements debts must meet in order to be governed by the Fair Debt Collection Practices ...
  • 11-Jun-2010

    Filing For Chapter 13 Bankruptcy Without Your Spouse

    Chapter 13 bankruptcy allows the debtor to repay part or all of their debts over the course of 3 to 5 years with any remaining unsecured (and dischargeable) debt being discharged from bankruptcy at the end of the repayment term. For debtors who are ...
  • 11-Jun-2010

    Three Bad Reasons For Delaying Bankruptcy

    About 75 percent of the people who file bankruptcy wait until they just don't have any other choice. They give various reasons for waiting to file bankruptcy; but below are three of the worse excuses for not filing bankruptcy earlier: Guilt. Guilt is ...
  • 10-Jun-2010

    Overcoming Your Fears Of Considering Bankruptcy

    Being in debt is scary; but having your debts threaten the financial safety and security of your family can be even more scary. That's why it's not surprising that many debtors have many fears concerning a bankruptcy filing. Several myths feed into ...
  • 9-Jun-2010

    Five Things You Should Know About Chapter 13 Bankruptcy

    Chapter 13 bankruptcy is designed for wage earners. If you do not have income you will not be able to file Chapter 13 bankruptcy. Chapter 13 bankruptcy allows the debtor to partially repay their unsecured creditors. One of the misconceptions about ...
  • 8-Jun-2010

    Four Things You Shouldn't Do Before Filing Bankruptcy

    Many debtors ask about what they should do before filing bankruptcy; but what about the things that debtors shouldn't do before filing bankruptcy? Below is a list of things debtors should avoid before filing bankruptcy: Don't raid your retirement ...
  • 8-Jun-2010

    Five Signs That You May Be At Credit Card Default Risk

    You pay the minimum payment on your credit card. Paying the minimum payment requirement on your credit card may be a sure sign that you are at credit card default risk especially if you can't afford to pay more than your credit card's minimum ...
  • 7-Jun-2010

    Disclosure Of Payments Made Prior To Bankruptcy

    Bankruptcy law requires that debtors filing for any chapter of bankruptcy disclose on the Statement of Financial Affairs any payments of at least $600 they made to creditors 90 days prior to filing for bankruptcy. The payments disclosures will ...
  • 6-Jun-2010

    Private Student Loans, Bankruptcy And You

    Private student loans are a hot topic right now in the news and in the legislature. Currently, some lawmakers and consumer advocate groups are fighting to make private student loans dischargeable in bankruptcy like other unsecured consumer debt such ...
  • 4-Jun-2010

    Brown Media Holdings Files Chapter 11 Bankruptcy

    Brown Media Holdings, a 90-year-old family-owned company with 18 daily and 27 weekly newspapers in 10 states, filed for Chapter 11 bankruptcy with over $95 million in debt. The company, which is hoping to sell their business during bankruptcy, is ...
  • 4-Jun-2010

    Attorney Error Causes Bankruptcy Dismissal

    In the bankruptcy case of Crawford, Tanner S. and Tillie M.; In re, 20, debtors suffered a dismissal of their bankruptcy case because their attorney miscalculated when they needed to obtain credit counseling. The details of the bankruptcy case: The ...
  • 3-Jun-2010

    Texas Rangers File Chapter 11 Bankruptcy - Owes New York Yankees Player Millions

    The Texas Rangers, the Major League Baseball team controlled by billionaire Thomas Hicks, filed for Chapter 11 bankruptcy in an effort to expedite the sale of the baseball team to a group of investors which include the team's president Nolan Ryan and ...
  • 30-May-2010

    Your Kids College Funds And Bankruptcy

    Are 529 Accounts Protected From Creditors? Understandably, debtors considering bankruptcy want to make sure they protect their assets especially those that are earmarked to go to their children. But one of the common misconceptions of debtors ...
  • 29-May-2010

    Why Filing Bankruptcy Without An Attorney Could Be Costly

    Both Chapter 7 bankruptcy and Chapter 13 bankruptcy are complex legal systems that require in-depth knowledge of the law. Oftentimes, individuals attempting to file bankruptcy without the help of a bankruptcy attorney make mistakes that can cause ...
  • 28-May-2010

    Bankruptcy Facts: What You Need To Know About Credit Counseling

    Any debtor wishing to file bankruptcy is required to take a credit counseling and budget course before they file. If they do not take the credit counseling and budget course they will not be allowed to file bankruptcy. The credit counseling and ...
  • 26-May-2010

    Fuddruckers' Parent Company Files Chapter 11 Bankruptcy

    Magic Brands LLC, the parent of Fuddruckers and Koo Koo restaurants has filed Chapter 11 bankruptcy and announced it will close 24 corporate owned locations by April 30 th including one of its Dallas-Fort Worth area stores located in Garland. None of ...
  • 25-May-2010

    Agent 007 On Hold As MGM Teeters On The Edge Of Bankruptcy

    MGM Studios, a movie studio which has been teetering on the edge of bankruptcy for months, just announced that the development of the movie BOND 23 will be put on hold indefinitely. "Due to the continuing uncertainty surrounding the future of MGM and ...
  • 24-May-2010

    Debtor's Luxury Vehicle Purchase Indicated Bad Faith Bankruptcy Filing

    In the Chapter 7 bankruptcy case of Hageney, Keith T. and Carolyn J.; In re, the bankruptcy court ruled that a debtors' Chapter 7 bankruptcy case was probably filed in bad faith because the debtor purchased an unnecessary luxury item just 10 weeks ...
  • 22-May-2010

    Stop The Faux Moral Outrage About Personal Bankruptcy

    As the number of Americans filing bankruptcy reaches an all time high there has been a rise in the faux "moral outrage" against bankruptcy. Many so called debt repayment "gurus" are thumbing down their collective noses at bankruptcy and the debtors ...
  • 22-May-2010

    Predatory Payday Lenders Leech Off Unemployed Americans

    Just when we thought we had heard it all, the payday loan industry has a brand new trick up its sleeve. With the unemployment rate over 9 percent and millions of Americans on extended unemployment, many companies in the payday loan industry are now ...
  • 21-May-2010

    Four Signs You May Need To File Bankruptcy

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

    Six Questions You Should Ask Before Taking Out A Short Term Loan

    Finding fast cash for emergencies can be tough especially if you don't have savings and lack good credit. That's why so many people choose to take out payday loans, car title loans, tax refund anticipation loans and even purposely overdraft their ...
  • 19-May-2010

    Failure To Follow Proper Bankruptcy Procedures Can Be Costly

    In the Chapter 13 bankruptcy case of Wilson, David M. and Jamie M.; In re, the bankruptcy court denied the debtors' objection to a creditor's proof of claim and the bankruptcy plan was not confirmed. The details of the bankruptcy case: The Chapter 13 ...
  • 19-May-2010

    A Cautionary Tale For Potential Real Estate Buyers

    In the bankruptcy case of O'Brien, Patrick S. and Denise L.; In re (Jensen v. O'Brien) , a land buyer may lose his investment because of failing to practice due diligence before buying the land. The details of the bankruptcy case: The plaintiff ...
  • 18-May-2010

    Bankruptcy Court Rules House Worth Only What Buyers Will Pay

    In the bankruptcy case of Lewis, Kevin L. and Kathy A.; In re (Lewis v. State Street Bank) , the bankruptcy court ruled that the value of a home was only what buyers were willing to pay for it despite what an appraiser may claim. The details of the ...
  • 14-May-2010

    Is My Inherited IRA Protected In Bankruptcy?

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

    Overcoming The Presumption Of Bankruptcy Abuse

    When a debtor decides to file bankruptcy, in order to determine if they should file Chapter 7 bankruptcy or Chapter 13 bankruptcy it must first be determined if their income is above the median income for Texas. And a debtor's income is only ...
  • 11-May-2010

    Three Reasons Why You Should Not Pay Taxes With A Credit Card

    It has become a lot easier for taxpayers to pay their taxes using a credit card; but doing so may not be a good idea. Below are three reasons why a debtor should not pay their taxes with a credit card. You will end up paying more. Yes paying your ...
  • 11-May-2010

    Overcoming Challenges Facing Companies Considering Chapter 11 Bankruptcy

    In many cases only about half of businesses who need to file bankruptcy actually go ahead and file Chapter 11 bankruptcy. At a time when businesses are facing more economic troubles than ever, why is that so many choose to forgo the benefits of ...
  • 11-May-2010

    The Crawford Peace House Faces Foreclosure

    The Crawford Peace House, best known as the place where antiwar protests were launched during President George Bush's presidency, could be facing foreclosure. Dallas-Fort Worth area resident Johnny Wolf bought the house in 2003 for $54,000; but has ...
  • 7-May-2010

    How To Avoid A Second Bankruptcy Filing

    Filing bankruptcy offers debtors the opportunity to have a fresh new start financially; however in order to avoid filing bankruptcy again, there are few habits debtors need to develop. One of the most common reasons that debtors fall behind on their ...
  • 6-May-2010

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

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

    Debtors Are Not Required To Financially Punish Themselves Because Of Past Mistakes

    There seems to be an upsurge of anti-bankruptcy rhetoric aimed at indebted Americans to make them feel guilty about their financial circumstances which force them into bankruptcy. Since the critics can't honestly say that bankruptcy is not an ...
  • 4-May-2010

    Proof Of Claim Filed By IRS Allowed After Deadline

    In the bankruptcy case of Puccio, Charles J. III and Julie K.; In re, the bankruptcy court allowed a proof of claim amended and filed by the IRS after the deadline for government claims because it related to proofs of claims filed prior to the ...
  • 2-May-2010

    HAMP Rules Take On A New Twist For Bankruptcy Filers

    The government has just announced new guidelines for the HAMP foreclosure prevention program. Borrowers who are being evaluated for HAMP suitability will not face a foreclosure sale during that evaluation period. However, they may still receive ...
  • 1-May-2010

    How Can I Keep My Car In Bankruptcy?

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

    The Means Test and Chapter 11 Bankruptcy

    Chapter 11 Bankruptcy Means Test One of the benefits of filing Chapter 11 bankruptcy is that the debtor's disposable income is not calculated using the Means Test, the same test which is required for Chapter 13 bankruptcy. Arguably, the biggest ...
  • 29-Apr-2010

    Why Debtors Considering Bankruptcy Should Stop Using Automatic Bill Pay

    Automatic bill pay has become very popular, especially for those who want the convenience of having their monthly ongoing bills automatically deducted from their checking account. But for debtors considering bankruptcy automatic bill payments are not ...
  • 27-Apr-2010

    Law Restricting Bankruptcy Attorney Advice Ruled Not Unconstitutional

    The Supreme Court ruled that a federal law that prohibited bankruptcy attorneys from telling clients who are contemplating bankruptcy to take on more debt is not an unconstitutional restriction on the free-speech rights of lawyers. The court further ...
  • 1-Apr-2010

    7 Signs Of A Responsible Bankruptcy Debtor

    Getting a fresh start through bankruptcy is an opportunity for debtors to discharge their debts and start anew. However, bankruptcy also requires that debtors are honest and responsible in how their traverse the system. How does a debtor know they ...
  • 29-Mar-2010

    Movie Studio MGM Struggles To Avoid Bankruptcy

    Movie studio Metro-Goldwyn-Mayer is still struggling to sale itself and find a non-bankruptcy method of reorganizing its $5 billion debt load. But with about 10 days to go before the next round of potential investor bids are due, MGM may need to ...
  • 29-Mar-2010

    Use Your Tax Refund To File Bankruptcy If...

    The tax deadline is just a few weeks away and many debtors are expecting at least a few thousand dollars in their tax refund check. But what should debtors do with that money? Buy a car, TV, pay off credit card debt? Well if you're drowning in debt, ...
  • 26-Mar-2010

    Chapter 13 Bankruptcy Debt Limits Increase

    When a debtor decides to file for Chapter 13 bankruptcy, there is a limit on how much debt they can have. As of April 1, 2010 the debt limits for Chapter 13 bankruptcy will increase by 7 percent. Chapter 13 bankruptcy debt limits for unsecured debt ...
  • 25-Mar-2010

    Natural Products Group Files Prepackaged Chapter 11 Bankruptcy

    Natural Products Group has filed a prepackaged Chapter 11 bankruptcy with $286 million in assets and $804 million in liabilities. Lenders who hold 90 percent of the company's loans voted in favor of the bankruptcy and Nature Products Group is ...
  • 24-Mar-2010

    Tribune's Bankruptcy Dispute Spawns "World War III"

    Senior creditors in the Tribune Co's Chapter 11 bankruptcy proceeding have warned the bankruptcy court against allowing bondholders to sue over the legitimacy of $10 billion of the bankrupt company's debt. The bondholders claim that $10 billion in ...
  • 22-Mar-2010

    Reader's Digest Emerges From Chapter 11 Bankruptcy

    Reader's Digest Association, one of the most popular magazines in the US, has emerged from Chapter 11 bankruptcy, six months after seeking bankruptcy protection. The company said on Monday it was able to slash its US$2.2 billion ($3.1 billion) debt ...
  • 19-Mar-2010

    Single Bankruptcy Debtors Not Allowed Two Cars At The Expense Of Unsecured Creditors

    In the Chapter 13 bankruptcy case of Daniel-Sanders, Andrea C.; In re, the bankruptcy court ruled that a single debtor in Chapter 13 bankruptcy could in fact keep two cars but could only do so if it did not diminish bankruptcy plan payments for ...
  • 19-Mar-2010

    Regent Communications Files Chapter 11 Bankruptcy

    Regent Communications Inc., the owner of 62 radio stations in 13 markets, filed for Chapter 11 bankruptcy along with 40 of its affiliates. Regents owes creditors more than $211 million; but hopes that Chapter 11 bankruptcy will allow it to cut its ...
  • 18-Mar-2010

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

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

    Bankruptcy Debtor Denied Motion To Avoid Liens

    In the Chapter 7 bankruptcy case of Spears, Raquel C.; In re, the debtor was denied a motion to avoid two liens against a commercial property that she owned. The details of the bankruptcy case: The Chapter 7 debtor filed a motion to avoid a judgment ...
  • 17-Mar-2010

    Dishonest Debtors Won't Benefit From Bankruptcy

    While bankruptcy offers a myriad of benefits to debtors, dishonest debtors ruin their chances of getting a fresh financial start. When filing for bankruptcy it is important to tell the truth at all times. Telling lies or distorting the truth can land ...
  • 16-Mar-2010

    Five Steps To Conquering Monstrous Debt

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

    How The "New Payment Hierarchy" Can Be A Path To Financial Destruction

    Credit experts are explaining the new trend of American debtors paying credit cards off to the detriment of their home mortgages as the 'new payment hierarchy." But what some so-called credit experts may describe as a new payment hierarchy is really ...
  • 15-Mar-2010

    Five Tips For Self-Employed Debtors Filing Bankruptcy

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

    Online Video Sharing Company Files Chapter 7 Bankruptcy

    Veoh, an online video sharing service plans to file for Chapter 7 bankruptcy and liquidate its business, according to the company's founder, Dmitry Shapiro. Shapiro posted a passionate open letter blaming a legal battle with Universal Music Group for ...
  • 5-Mar-2010

    Property Taxes and Bankruptcy

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

    How Do Child Support Payments Impact My Bankruptcy?

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

    Bankruptcy and Retirement

    Already U.S. life expectance is 80 years and the CDC predicts that many Americans could live to be 100 years old. But what does that extra 20 years of life mean for America's retirees? It could mean that filing bankruptcy before your retirement may ...
  • 4-Mar-2010

    Michael Jackson's Doctor May Need A Bankruptcy Attorney

    Dr. Conrad Murray, the cardiologist who reportedly was in Michael Jackson's Los Angeles mansion when the entertainer collapsed, is reportedly facing a litany of financial (and legal) problems. Most recently, the doctor who is accused by many of ...
  • 4-Mar-2010

    6 Things You Need To Know About Bankruptcy

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

    Above Median Income Earners and Bankruptcy

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

    An America Without Bankruptcy?

    Have you ever wondered what life would be like in America without our modern bankruptcy system? Well, unfortunately for the citizens of the Philippines, life without a modern bankruptcy system has proven disastrous. "The lack of a modern insolvency ...
  • 14-Dec-2009

    Ten Bankruptcy Terms to Know

    Bankruptcy is packed full of terms that you may never see outside of bankruptcy. Someone new to the bankruptcy process might get really confused when trying to figure out how the bankruptcy process works. One of the reasons behind this confusion is ...
  • 2-Nov-2009

    Do Not Ignore Any Claims Filed By Creditors During Bankruptcy

    When a debtor files bankruptcy, creditors are required to file a proof of claim if they want to have a chance at payment during the bankruptcy. If a debtor does not object to the proof of claim after it is filed, then the bankruptcy court will ...
  • 26-Oct-2009

    The Trouble With The Bankruptcy Means Test

    For debtors seeking bankruptcy protection taking the bankruptcy "means test" can be a hassle that doesn't always leave the debtor with a fair shake. For debtors seeking bankruptcy protection taking the bankruptcy "means test" can be a hassle that ...
  • 25-Sep-2009

    I Want To Secretly File Bankruptcy

    Most debtors considering bankruptcy are less than enthusiastic about the prospect of other people knowing about it, especially friends and family. But while, many debtors would be more comfortable filing for bankruptcy without telling family and ...
  • 1-Sep-2009

    Filing Bankruptcy in the DFW Metroplex

    Although the bankruptcy court is a federal court, each state has its own individual set of bankruptcy exemptions. Exemptions are laws outlining what you can, and cannot keep in a bankruptcy case. If you live in the Dallas area, great! In Texas, there ...
  • 26-Aug-2009

    You May Need to File Bankruptcy If...

    Many debtors are unsure about whether it's time to file bankruptcy or if they have a fighting chance to handle their debts alone without the force of the bankruptcy law. Below is a list of questions you can ask yourself to determine if it is time for ...
  • 20-Aug-2009

    Can a Non-Citizen File for Bankruptcy?

    I Am Not An American Citizen, Can I File Bankruptcy? A noncitizen of the United States may be able to file for bankruptcy in America. Noncitizens of the United States often have the same question when considering bankruptcy. You can probably guess ...
  • 17-Aug-2009

    Common Mistakes Before Bankruptcy

    Follow this advice if bankruptcy might be on the horizon. If you are considering filing for bankruptcy in the near future, you should make sure that you do not make pre-filing mistakes. Many people repeat these mistakes, because they are trying to ...
  • 14-Aug-2009

    Bankruptcy Court Exercises Power to Extend Stay of Relief for Homeowner

    In the Chapter 13 bankruptcy case Borgens, Charlotte P.; In re (Wells Fargo Bank Minn. v. Borgens), the bankruptcy court extended a stay of relief, giving a debtor more time to save her home from foreclosure despite the mortgage lender's protests. ...
  • 13-Aug-2009

    Do You Need a Debt Reality Check?

    The current economic downturn has many debtors scrambling to pay off credit card debt, personal loans and even their mortgage while they still have an income to do so. But many debtors are finding that no matter how hard they try, their debt load ...
  • 13-Aug-2009

    What to Expect When Filing Chapter 7 Bankruptcy

    Filing a Chapter 7 Bankruptcy When considering Chapter 7 bankruptcy, many debtors experience anxiety about the process. Let's take a look at the process for debtors filing Chapter 7 bankruptcy: Step #1 - Meet with your bankruptcy attorney to discuss ...
  • 12-Aug-2009

    Mortgage Servicers Abusing Homeowners Facing Foreclosure?

    According to an article in the Star-Telegram, at least 30 mortgage servicers have faced lawsuits accusing them of harassing borrowers, imposing illegal fees, charging for unnecessary insurance and failing to quickly aid homeowners facing foreclosure ...
  • 1-Aug-2009

    Golden Corral Files Bankruptcy to Avoid Judgment Payout

    According to an article in the Dallas Morning News, Guillermo Perales placed four of his companies into Chapter 11 bankruptcy in an effort to avoid a $1 million judgment payout. The article said: "Rukavina said the bankruptcy stemmed from an assault ...
  • 30-Jul-2009

    Georgetown, Indiana Considers Bankruptcy Protection

    According to an article in the Courier-Journal, Georgetown, Indiana is considering bankruptcy after facing a debt of $1.45 million over a long-delayed sewage plant project. The municipal bankruptcy would be unprecedented in Indiana and many experts ...
  • 25-Jul-2009

    Things You Need When Filing Bankruptcy

    For debtors considering bankruptcy, there are a few things you should bring with you to your initial bankruptcy consultation. #1 - Proof of income. If you are an employee, make sure you have your most recent paychecks and your spouse's most recent ...
  • 21-Jul-2009

    Over 1.9 Million Foreclosures Nationwide

    According to an article in the Star-Telegram, more than 49,000 homeowners in Texas faced foreclosure since January of this year, up 6.25 percent from the previous six months. That's 1 out of every 192 Texas homeowners facing foreclosure. The numbers ...
  • 22-Dec-2008

    When Does An Automatic Stay End?

    An automatic stay, which generally becomes effective once a bankruptcy is filed, stops all collection actions against the debtor. But the automatic stay will end once one of the following events occur: The Bankruptcy Case is Closed in a Chapter 13 ...
  • 19-Dec-2008

    Filing For Bankruptcy? Watch Your Debit Card Transactions!

    Bank Statements May Actually Jeopardize Your Bankruptcy When debtors file for bankruptcy many don't realize that the bankruptcy trustee may request a copy of the debtor's bank statements covering the previous 60 days before they filed for bankruptcy. ...
  • 17-Dec-2008

    Tell A Lie In Bankruptcy -- No Pass Go, Go Straight To Jail

    Although America rid itself of debtors' prisons long ago, there are still stiff penalties for intentionally providing false or misleading financial information to the bankruptcy court. Debtors can be sentenced to up to 5 years in jail and fined up to ...
  • 23-Oct-2008

    During Your Divorce Disclose Your Intentions To File Bankruptcy

    If you're going through a divorce and you intend to file for bankruptcy afterwards, you may be required to disclose your intentions to your spouse. A recent case found a debtor's divorce related debts such as alimony non-dischargeable because he ...
  • 17-Oct-2008

    What To Expect From Your Creditor When You File Bankruptcy

    When filing for either Chapter 7 or Chapter 13 bankruptcy there are few things that you can expect from your creditor. The creditor will stop all collection actions against you. This means that when you file for bankruptcy the creditor will not call, ...