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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 October, 2012

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  • 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 ...
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  • 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 ...
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  • 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 ...
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  • 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 ...
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  • What Happens When a Bankruptcy Trustee Suspects Fraud?

    Posted By admin || 22-Oct-2012

    When a Bankruptcy Trustee Suspects Fraud Bankruptcy fraud is a serious offense that could carry a hefty fine and years of imprisonment. Because the bankruptcy code is intertwined with federal regulations any fraud committed is considered a serious matter. A bankruptcy trustee who suspects fraud is obligated to bring the matter before the court, but with sufficient evidence. Evidence related to ...
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  • Battery Maker A123 Files Chapter 11 Bankruptcy

    Posted By admin || 19-Oct-2012

    Battery maker A123 Systems Inc. seeks bankruptcy protection after weak sales of electric cars. The filing will allow the maker to reorganize their business structure while finalizing the sale of automotive assets. The filing is likely to have the Obama administration face more criticism since the president authorized funding for alternative energy companies. It is said the battery maker received a ...
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  • Dealing With Divorce During Chapter 13 Bankruptcy

    Posted By admin || 15-Oct-2012

    Chapter 13 Bankruptcy and Divorce If you and your spouse filed Chapter 13 bankruptcy and now you are filing for divorce, there are a few options to consider depending on the situation. A divorce is known for affecting different things in your life including ownership of property and finances. It is likely your divorce will impact your bankruptcy case but it may depend on the unique situation of ...
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  • Does All Unsecured Debt Qualify for Discharge in Chapter 7 Bankruptcy?

    Posted By admin || 12-Oct-2012

    Chapter 7 bankruptcy is the most common chapter filed because of its ability to wipe out unsecured debt. Filing Chapter 7 may help eliminate most types of unsecured debt but it often depends on the type of debt. Common debts that are wiped out in Chapter 7 include medical bills and credit card debt. There are unsecured debts that are considered non-dischargeable in Chapter 7 bankruptcy; meaning ...
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  • 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 ...
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  • Can Chapter 7 Bankruptcy Help Me Stop Foreclosure?

    Posted By admin || 10-Oct-2012

    Filing Chapter 7 Bankruptcy to Stop Foreclosure Chapter 7 bankruptcy may not stop the process permanently but it could help you gain more time to develop a solution that will help you keep your home. The filing may give you more time to come up with funds you can use to get your mortgage caught up. When Chapter 7 bankruptcy is filed the automatic stay goes into effect. The action stops or ...
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  • 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 ...
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  • Medical Debt of a Victim

    Posted By admin || 5-Oct-2012

    Unfortunately with medical bills they don't solely rack up from falling ill or injuring yourself in an accident. There are some that face medical bills because they became a victim to a crime. When a crime occurs, such as a mugging, the ambulance is called and you are rushed to the emergency room (if necessary) leaving you with medical debt. There are some ways you can choose to handle these ...
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  • 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 ...
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  • Tax Refund Averages

    Posted By admin || 3-Oct-2012

    Although the season of taxes has passed, it is always very interesting to hear about the figures and averages in relation to tax time. According to the Internal Revenue Service, for those who received a refund this year that refund averaged to about $3,000 per person. With about 52 million Americans who filed their taxes, over 45 million of them collected some sort of a refund, according to the ...
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  • When to Refinance Your Home

    Posted By admin || 2-Oct-2012

    Mortgage loan interest rates are again dropping to really appealing lows which may have you wondering if refinancing your home is a wise decision. The rule of thumb is that you should only refinance if you can lower your interest rate by at least two percentage points. As with all rules of thumb this is probably a good gauge to go by at a precursory glance but it doesn't really give you the entire ...
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  • Medical Bills Up to Seven Figures

    Posted By admin || 2-Oct-2012

    In 2010, Steven Stacey was in a very bad car accident involving his cousin and two friends. Although his mother, Michelle, was notified she did not get much detail when the accident occurred. As her son fought for his life and underwent an operation at the Saint Francis Medical Center in Missouri, Michelle did what any other parent would do. She did not worry about the medical costs associated ...
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  • Can You Sue Over a Verbal Contract?

    Posted By admin || 1-Oct-2012

    Can You Sue Over a Verbal Contract or Agreement? The question on whether you can sue over a verbal contract or agreement comes up quite often. All you have to do is watch an episode of People's Court or Judge Judy to see that yes, you can sue over a verbal agreement. The problem is you have to prove your case which, because it's not in writing can be difficult but that doesn't mean that you can't ...
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