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

Blog Posts in November, 2012

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  • Reasons Why Chapter 13 Bankruptcy Payments Increase

    Posted By admin || 30-Nov-2012

    Chapter 13 bankruptcy is a court-approved repayment plan that helps debtors regain control of their finances. Depending on outstanding debt the plan can last anywhere from 3 to 5 years. The payments are created based on the affordability of the debtor. Most debtors find payments scheduled in the plan to be more affordable than what they were paying before they filed. Sometimes debtors experience a ...
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  • 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 ...
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  • 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.
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  • 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 ...
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  • 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 ...
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  • 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 ...
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  • 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 ...
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  • 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 ...
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  • Can Chapter 7 Bankruptcy Stop a Foreclosure Sale?

    Posted By admin || 20-Nov-2012

    Chapter 7 bankruptcy may help stop a foreclosure sale on your home under certain conditions. If possible you may have the option to cure your default by making payments or negotiating with your lender on a solution. While there are other options to consider it is possible the sale may be completed on the home unless you take swift action. Chapter 7 bankruptcy may help temporarily stop a ...
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  • 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 ...
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  • 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 ...
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  • 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 ...
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  • 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 ...
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  • 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 ...
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  • Bankruptcy after Divorce: Are You Liable for Debt that Belongs to Your Ex?

    Posted By admin || 7-Nov-2012

    It's common to wonder what may happen if your ex-spouse files for bankruptcy after divorce. While a divorce agreement may have been in place detailing who is responsible for outstanding debt, you may wonder if creditors have a right to pursue the other spouse. In some cases they can, but what if your ex-spouse files bankruptcy in contempt of the divorce decree? Could you force the ex-spouse to pay ...
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  • More Bankruptcy Cases Filed in October in South Florida to Halt Bank Foreclosures

    Posted By admin || 6-Nov-2012

    During the month of October Southern parts of the sunshine state Florida saw a sharp increase in bankruptcy filings due to pending foreclosures. Local attorneys claim that many homeowners are seeking bankruptcy protection because banks are pushing forward and foreclosing on mortgages that have become delinquent. The U.S. Bankruptcy Court in Miami shared interesting statistics related to recent ...
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  • Medical Bills Continue to Be Leading Cause of Consumer Bankruptcy Filings

    Posted By admin || 5-Nov-2012

    A 2007 study completed by the American Journal of Medicine looked at statistics of consumers who filed bankruptcy and found that 90 percent of consumers who filed bankruptcy due to mounting medical bills had $5,000 or more in medical debt. Even consumers with medical coverage have been subject to increased medical costs since their insurance may offer limited coverage. Some consumers may have even ...
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  • Seattle Fugitive Couple Wanted for Bankruptcy Fraud Arrested in France

    Posted By admin || 1-Nov-2012

    A Seattle couple who have been on the run for over a year were arrested in France this week. The arrest of real-estate magnate Michael R. Mastro and his wife Linda was confirmed by the U.S. Attorney's Office in Seattle. The couple was charged with multiple counts of bankruptcy fraud over a year ago and reportedly disappeared when an order to turn over diamond jewelry valued at over $1 million was ...
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