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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 July, 2017

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  • Will I Need To Liquidate My Business If I File Bankruptcy?

    Posted By Allmand Law Firm, PLLC || 28-Jul-2017

    Owning and operating your own business is no easy feat, and it can be easy to accumulate debt loads that become insurmountable, both in your personal life and professionally. Fortunately, the U.S. Bankruptcy Code provides business owners with tools for addressing debt and financial instability. Whether or not your business needs to be liquidated in bankruptcy depends on a few factors. The type of ...
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  • Which Bankruptcy Eliminates All Debt?

    Posted By Allmand Law Firm, PLLC || 26-Jul-2017

    Most people are aware that one of the hallmarks of filing for bankruptcy is receiving a discharge of debts at the conclusion of a case. While a debt discharge certainly provides you with the benefit of relinquishing your obligation to make payments to a creditor and a financial fresh start, there are limitations for how it works. Unlike some myths and misconceptions may have led you to believe, ...
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  • 7 Benefits of Chapter 13 Bankruptcy

    Posted By Allmand Law Firm, PLLC || 24-Jul-2017

    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 ...
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  • How Does Bankruptcy Affect My Credit?

    Posted By Allmand Law Firm, PLLC || 21-Jul-2017

    Bankruptcy is a legal process designed to help individuals who are struggling with insurmountable debt, not to punish or mar them in their financial future. Although there are many myths and misconceptions about how bankruptcy impacts credit, and while many people have concerns over their credit scores, it is important to remember that bankruptcy is the beginning of a financial fresh start, and ...
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  • Texas Bankruptcy Exemptions

    Posted By Allmand Law Firm, PLLC || 19-Jul-2017

    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 ...
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  • Who is Paid First in a Bankruptcy Case?

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

    Bankruptcy and discharges of debt are a great benefit for people facing tough financial times, but bankruptcy also allows many creditors to get paid as well. Both Chapter 7 bankruptcy (liquidation bankruptcy) and Chapter 13 bankruptcy (repayment plans) allow for creditors to collect at least some portion of the debts they are owed. The bankruptcy court and appointed trustee serve the purpose of ...
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  • How Can I Rebuild My Credit After Bankruptcy?

    Posted By Allmand Law Firm, PLLC || 12-Jul-2017

    Many people believe that bankruptcy permanently destroys your credit, but this couldn’t be further from the truth. In fact, bankruptcy may even save your credit in cases where an old debt kept your score down. Now that you have gotten a fresh financial start, there are a number of steps you can take to begin rebuilding your credit. How Does Bankruptcy Affect my Credit Score? The purpose of ...
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