7 Things to Avoid Prior to Filing Bankruptcy

If you are considering bankruptcy or have plans to file bankruptcy, getting prepared ahead of time can affect the outcome of your case and your financial future. At Allmand Law Firm, PLLC, we know that failing to prepare or taking the wrong steps can significantly jeopardize the success of a filing. This is why we [...]

By | 2018-03-12T03:54:27+00:00 September 8th, 2017|Bankruptcy|Comments Off on 7 Things to Avoid Prior to Filing Bankruptcy

5 Foreclosure Myths Debunked

Although foreclosure rates are no longer at historical peaks as they have been in recent years, millions of homeowners across the nation still face the personal and financial challenges of foreclosure proceedings. This is true in Texas, where foreclosure activity across the state and the Dallas-Fort Worth area has increased in past two years. That [...]

By | 2018-03-12T04:16:37+00:00 September 5th, 2017|Foreclosures|Comments Off on 5 Foreclosure Myths Debunked

Filing Bankruptcy: Which Chapter Do You File?

Every year, numerous Americans turn to bankruptcy as a means to find relief from insurmountable debt. These individuals, couples, and businesses come from all walks of life, and their financial situations are always unique. Because finances and filers are always different, the Chapter of the U.S. Bankruptcy Code you file under is a matter unique [...]

By | 2018-03-12T04:24:08+00:00 August 14th, 2017|Bankruptcy|Comments Off on Filing Bankruptcy: Which Chapter Do You File?

Why Hiding Assets Could Cost You

When an individual or couple file for bankruptcy, they are required to disclose all of their assets in their petition. It is important for filers to remember that they must be 100 percent truthful when disclosing assets and that they not attempt to hide them. Some people think that by concealing assets, they won’t be [...]

By | 2018-04-10T09:40:07+00:00 August 11th, 2017|Bankruptcy|Comments Off on Why Hiding Assets Could Cost You

Understanding Your Plan of Reorganization for a Chapter 11 Bankruptcy

Chapter 11 bankruptcy, also known as "reorganization bankruptcy," is a bankruptcy plan that allows corporations, partnerships and individuals to reorganize their finances and restructure their debt. Unlike Chapter 13 bankruptcy cases, Chapter 11 bankruptcy has no debt ceiling. This plan is popular with both large and small businesses that need to restructure their debt. The [...]

By | 2018-04-10T09:43:25+00:00 August 7th, 2017|Bankruptcy, Chapter 11 Bankruptcy|Comments Off on Understanding Your Plan of Reorganization for a Chapter 11 Bankruptcy

Four Bankruptcy Myths Busted

If you or a loved one are currently considering bankruptcy to address your financial problems and obtain a financial fresh start, it is important to remember that not everything you hear about the process is true. There are a great deal of bankruptcy myths surrounding bankruptcy, and they often comes through word of mouth, anecdotes, and sheer misinformation [...]

By | 2018-03-12T04:32:59+00:00 August 4th, 2017|Bankruptcy, Debt and Tax Relief|Comments Off on Four Bankruptcy Myths Busted

Should I Keep My Car After Bankruptcy?

If you are filing for bankruptcy, it is likely that you have been facing debts and financial difficulties in various areas of your life. This can include your property, and your vehicle. Because many of us depend on our cars to get us to and from work, and to handle the daily needs of life, [...]

By | 2017-12-14T07:03:39+00:00 August 1st, 2017|Bankruptcy|Comments Off on Should I Keep My Car After Bankruptcy?

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

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 [...]

By | 2017-12-14T07:03:41+00:00 July 28th, 2017|Bankruptcy|Comments Off on Will I Need To Liquidate My Business If I File Bankruptcy?

Which Bankruptcy Eliminates All Debt?

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 [...]

By | 2018-04-10T10:13:22+00:00 July 26th, 2017|Bankruptcy|Comments Off on Which Bankruptcy Eliminates All Debt?

7 Benefits of Chapter 13 Bankruptcy

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 [...]

By | 2018-03-12T04:39:51+00:00 July 24th, 2017|Bankruptcy, Chapter 13 Bankruptcy|Comments Off on 7 Benefits of Chapter 13 Bankruptcy