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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, 2013

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  • Another Reason to Consider Bankruptcy to Avoid Foreclosure

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

    Why You Should Consider Bankruptcy to Avoid Foreclosure Many homeowners are aware bankruptcy can help you prevent foreclosure thanks to various advertisements that regularly promote this benefit. But, research suggests that in fact bankruptcy may help you avoid foreclosure and even provides evidence that filing is effective in preventing pending sales. Researchers at the University of North ...
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  • Does the Automatic Stay in Bankruptcy Stop Student Loan Collections?

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

    The Automatic Stay and Student Loans If you have student loan debt that is being pursued by the creditor when you file bankruptcy, collection efforts come to a halt due to the automatic stay. This also ceases collection attempts through bank and wage garnishments. This can give debtors time to figure out how to repay their loan obligations if they are unable to get them discharged. The Brunner ...
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  • 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 ...
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  • Making It through Meeting of the Creditors in Chapter 7 Bankruptcy

    Posted By Allmand Law Firm, PLLC || 20-Nov-2013

    An important meeting during Chapter 7 bankruptcy proceedings includes the 341 meeting, also known as meeting of creditors or trustee's meeting. As long as you provide honest and accurate details about your finances you should be fine. Some debtors are known to get nervous about the meeting, but having experienced legal representation can help you get a general idea of what to expect. The good ...
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  • 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 ...
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  • 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 ...
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  • 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 ...
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  • 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, ...
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  • 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 ...
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  • 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 ...
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  • 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 ...
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  • Can Chapter 13 Bankruptcy Help with Child Support Debt?

    Posted By Allmand Law Firm, PLLC || 6-Nov-2013

    Chapter 13 Bankruptcy and Child Support If you are behind on child support payments those payments are not eligible to be wiped out in bankruptcy. Child support payments are considered priority debts that a debtor will continue to be responsible for even after their case ends. But, Chapter 13 bankruptcy may help you get caught up on payments. If you have unsecured debts with you case, they may be ...
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  • Bankruptcy and Tax Debt: What You Need to Know

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

    There are various advertisements on television and radio that encourage consumers to utilize special services aimed at getting rid of tax debt through bankruptcy. Keep in mind the process may not be as easy as they make it sound. Some tax debts may not qualify for elimination in bankruptcy ( Chapter 7 ), but they may qualify for inclusion of a repayment plan ( Chapter 13 ) to help you manage them ...
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  • 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 ...
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  • Problems Arise in Rapper DMX Bankruptcy Filing

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

    Earl Simmons, aka hip hop rapper DMX, filed for Chapter 11 bankruptcy protection back in July of this year. But it seems that actions related to his filing are now being questioned by federal authorities. Along with a new lawsuit against the rapper, his legal team has their hands full in trying to get the situation clarified. Now, officials feel DMX should satisfy creditors by selling his ...
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