AllmandLaw

What Can I Expect to Happen During Chapter 7 Bankruptcy?

Reed Allmand — Wed, 22 Feb 2012 22:27:50 +0000

Most people who file Chapter 7 bankruptcy have little assets and qualify to have most of their unsecured debt discharged. Unsecured debt that may qualify to be wiped off or discharged includes medical bills and credit cards. Having little assets and qualifying debt can help make the process a lot easier. Keep in mind, there [...]

What Happens if My Financial Situation Changes in Chapter 13 Bankruptcy?

Reed Allmand — Wed, 22 Feb 2012 15:23:58 +0000

If you are in a Chapter 13 bankruptcy and you experience any reduction in your income, you may be able to file Chapter 7 under certain circumstances depending on your qualifications. There is a means test that can be taken to determine eligibility. The procedure for converting chapters may vary depending on what jurisdiction the [...]

If I File Bankruptcy Can I Keep My Credit Cards?

Reed Allmand — Tue, 21 Feb 2012 22:20:19 +0000

To many consumers, this may be an odd question since the overall purpose of bankruptcy is to eliminate debt. While many debtors often include credit card accounts they are unable to pay, some may have a credit card account that is in good standing. A debtor may feel that the account in good standing may [...]

Actions You May Want To Avoid If Planning To File Bankruptcy

Reed Allmand — Tue, 21 Feb 2012 15:16:52 +0000

Debtors looking to seek bankruptcy protection often are unable to make debt payments or want to have their debt reorganized so that it is easier pay on what is owed. Bankruptcy can help debtors deal with their finances but certain financial decisions made before filing may make your case more challenging and even decrease chances [...]

Can Judgments Related to Unsecured Debt be Discharged in Bankruptcy?

Reed Allmand — Mon, 20 Feb 2012 21:45:51 +0000

If you are being sued bankruptcy may be an option to consider. Chapter 7 bankruptcy allows for qualifying debt to be discharged while Chapter 13 restructures debt. A discharge means the debtor will not be obligated to pay toward the judgment. Many debtors have been able to get judgments discharged but it often depends on who and [...]

The Most Popular Questions About Personal Bankruptcy

Reed Allmand — Mon, 20 Feb 2012 15:05:17 +0000

There’s no denying that each individual will need to approach the issue of personal bankruptcy in his or her own unique way. However, with that being said, most individuals express the same concerns when filing for Chapter 7 or Chapter 13 bankruptcy. They worry that they’ll end up losing their homes, or they’re concerned about [...]

What Kind of Debts are Eliminated with a Dallas Bankruptcy?

Reed Allmand — Fri, 17 Feb 2012 18:01:55 +0000

For some reason, many people have different ideas about what types of debts are eliminated in a Dallas bankruptcy. Ask any one of your friends or family members, and you’ll experience a myriad of opinions. Some will insist that you’ll lose your house to bankruptcy, while others are convinced that all debts – even tax [...]

What to Expect When You Have a Bankruptcy Consultation

Reed Allmand — Fri, 17 Feb 2012 15:43:45 +0000

Making the decision to file bankruptcy can be the first step toward reaching financial freedom. Now you’ll want to get prepared for your next step: meeting with your bankruptcy attorney. Being prepared for the first meeting with your attorney can save time and money. The first meeting is quite important since you and the attorney [...]

What’s Holding You Back From Filing For Bankruptcy?

Reed Allmand — Thu, 16 Feb 2012 20:14:45 +0000

You’re getting squeezed by your debtors. There’s not an hour that goes by when you don’t receive harassing phone calls from collections agencies. Every time you open your mailbox, you’re met by a cascade of final demands and urgent notice letters, all of which document exactly how much you owe to whom. It’s enough to [...]

What Is a Bankruptcy Trustee and What Is Their Purpose?

Reed Allmand — Thu, 16 Feb 2012 20:08:50 +0000

During Chapter 7 or Chapter 13 bankruptcy proceedings a trustee is appointed by the federal government to oversee the case. In most cases, a bankruptcy attorney or accountant will serve as the trustee. The trustee plays an important role during the bankruptcy process, including making sure debtors are in compliance with regulations, being honest about [...]