AllmandLaw

Understanding the Significance of What Bankruptcy Can Do For You

Reed Allmand — Fri, 24 May 2013 18:07:49 +0000

Bankruptcy is one of the most powerful tools consumers can utilize to regain financial control. When considering this option you should get a clear idea as to how it can help improve your situation. It may help you eliminate qualifying debt obligations while helping you reestablish others. Plus, depending on your situation one chapter may [...]

Today In Bankruptcy – 05-23-2013

Reed Allmand — Thu, 23 May 2013 20:40:30 +0000

Bringing you the most up-to-date news, tips and blogs throughout the web. Here’s your Bankruptcy Update for May 23, 2013 Atari seeking $22.2 million in bankruptcy auction Busy New York Bankruptcy Court Faces Budget Crunch Bankruptcy attorney Randolph Goldberg sentenced to prison

Getting Debt Discharged in Chapter 13 Bankruptcy

Reed Allmand — Thu, 23 May 2013 20:37:00 +0000

Many people who think about getting debt discharged may assume it can only be erased through Chapter 7 bankruptcy. In fact, Chapter 13 bankruptcy has the ability to not only discharge debt, but in some cases may help eliminate debt that is not eligible for discharge in Chapter 7. Meaning, you may be given a [...]

Rising Drug Costs Contributing to Personal Bankruptcy Filings

Reed Allmand — Wed, 22 May 2013 20:23:31 +0000

Medical debt continues to be one of the most common reasons why people file personal bankruptcy. Yet, recent studies may provide evidence that rising drug costs are partly to blame. Medical debt related to unpaid bills is one matter, but for those who are dealing with a medical illness, the rising cost of medicine is [...]

Today In Bankruptcy – 05-21-2013

Reed Allmand — Tue, 21 May 2013 20:03:40 +0000

Bringing you the most up-to-date news, tips and blogs throughout the web. Here’s your Bankruptcy Update for May 21, 2013 Sinbad, almost $11M in debt, files for bankruptcy Battery maker B456 Systems’ bankruptcy plan approved GM Bankruptcy Proceedings Delayed by Zombie Whistleblower Case

Can I Keep Cash I Have On Hand in Chapter 7 Bankruptcy?

Reed Allmand — Tue, 21 May 2013 19:26:15 +0000

There are exemptions available in Chapter 7 bankruptcy that may help protect your cash. Although the cash in question has to qualify as an exempt asset. It’s common for consumers to be afraid of filing in fear of losing cash assets. The good news is you may be able to retain your cash and other assets [...]

Using Chapter 13 Bankruptcy to Regain Control of Tax Debt

Reed Allmand — Mon, 20 May 2013 20:54:33 +0000

If you’re seeking a solution to help manage tax debt then Chapter 13 bankruptcy may be something to consider. It often depends on the type of debt in question, along with other financial obligations of the debtor. You may even gain an advantage using Chapter 13 to handle the debt that you may not gain [...]

Michigan Man Could Face 20 Years in Prison as He Admits Hiding Assets in Bankruptcy

Reed Allmand — Fri, 17 May 2013 16:33:21 +0000

A Michigan man may face more than 20 years in federal prison after pleading guilty recently to charges related to money laundering and bankruptcy fraud. Adrian Hassan Tageddine, 42, of Dearborn Heights, admitted to authorities he hid assets including cash and luxury vehicles when he filed for bankruptcy in 1999. Internal Revenue Service (IRS) agents [...]

Today In Bankruptcy – 05-16-2013

Reed Allmand — Thu, 16 May 2013 20:03:46 +0000

Bringing you the most up-to-date news, tips and blogs throughout the web. Here’s your Bankruptcy Update for May 16, 2013 Casino commission OKs Revel’s bankruptcy plan David Oreck Talks Bankruptcy And Book Cancer diagnosis puts people at greater risk for bankruptcy

How Do You Know If You Qualify for Chapter 7 Bankruptcy?

Reed Allmand — Thu, 16 May 2013 19:57:57 +0000

Chapter 7 bankruptcy eliminates unsecured debt such as medical bills, credit card debt, and payday loans. In order to understand whether you qualify is by reviewing your eligibility factors. The most effective way to learn if you qualify includes discussing your situation with an experienced bankruptcy attorney. Meeting qualifications of the means test and providing [...]