Bankruptcy Blog Posts

Knowing When to File for Bankruptcy: Questions to Ask Yourself

Posted By Allmand Law Firm, PLLC || 5-Dec-2016

Tough times happen for all types of people, especially when it comes to finances. Fortunately, the federal government understands that individuals and business owners may find themselves facing insurmountable debt, and as a result, searching for solutions to a very real problem. The U.S. Bankruptcy Code was created to help “honest but unfortunate” debtors who find themselves facing ...

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Avoid Debt with These Holiday Budgeting Tips

Posted By Allmand Law Firm, PLLC || 28-Nov-2016

Some people feel as though “the holidays” and “debt” are inextricably bound, and indeed for many, sometimes they can go hand in hand. However, with a little careful planning and some smart spending habits, you can absolutely enjoy a fun and festive holiday without the hit to your wallet. Consider the following budgeting tips to help you avoid taking on new debt this holiday ...

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Debt Settlement vs. Bankruptcy: What's the Difference?

Posted By Allmand Law Firm, PLLC || 14-Nov-2016

If you are struggling with overwhelming debts, debt settlement and bankruptcy are two options that can help you regain good financial health. While many people are familiar with the word “bankruptcy,” debt settlement is less well known, and the differences between both options are unclear to many. For the benefit of our clients, this blog will serve to distinguish between these two ...

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Why It Is Important to Review Your Credit Report Before Filing Bankruptcy

Posted By Allmand Law Firm, PLLC || 1-Nov-2016

You may hear about why it is important to review your credit report annually to make sure information is current and being reported properly to the credit bureaus. But anyone considering bankruptcy should also review their credit report before filing bankruptcy to make sure they include all of their creditors in their documentation and schedules. You are required to list your creditors as part of ...

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What You Should Know About Bankruptcy Fraud

Posted By Allmand Law Firm, PLLC || 24-Oct-2016

Bankruptcy fraud is a serious federal offense that can cost you more than just your personal possessions – it can cost your freedom. There are various ways debtors try to deceive the court from learning more about personal finances. Many consumers may not realize that doing one act alone, such as concealing an asset, can have you facing charges for fraud. To help further explain the ...

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Using Bankruptcy to Stop or Prevent Wage Garnishment

Posted By Allmand Law Firm, PLLC || 10-Oct-2016

The state of Texas, along with a few other states, may not allow creditors to garnish wages to satisfy debts, except for special circumstances such as spousal / child support, student loans, and federal taxes. A wage garnishment is when a creditor receives permission from the court to withhold payment from paycheck earnings and have them forwarded to the creditor instead. If garnishment of your ...

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How Much Debt Is Required to Be Repaid in Chapter 13 Bankruptcy?

Posted By Allmand Law Firm, PLLC || 3-Oct-2016

Chapter 13 Bankruptcy is known as the “wage earner plan” because it allows debtors who have some amount of disposable income to retain their property and make payments toward their debt over the span of several years (usually five). The bankruptcy means test will typically determine if this Chapter of bankruptcy is most appropriate for an individual. Debtors considering Chapter 13 ...

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Personal Bankruptcy and Business Ownership: What You Need to Know

Posted By Allmand Law Firm, PLLC || 19-Sep-2016

If you file personal bankruptcy, it can take a significant toll on any business ownership in your name, depending on how the business was legally organized and the type of bankruptcy petition filed with the court. Under United States bankruptcy code, there are two types of filings for individuals; they are indicated by "Chapter" numbers, and personal bankruptcies are either Chapter 7 or ...

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How Does The Automatic Stay Help Those Filing for Bankruptcy?

Posted By Allmand Law Firm, PLLC || 6-Sep-2016

Filing bankruptcy can be an intimidating decision. But, did you know that there are various tools that can protect you during the process? In fact, one of the most beneficial tools for those filing bankruptcy is the automatic stay. The automatic stay is a part of all bankruptcy cases, and it stops all collection actions you may be facing from creditors or debt collection agencies. The automatic ...

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How to Get Rid of Credit Card Debt Through Bankruptcy

Posted By Allmand Law Firm, PLLC || 29-Aug-2016

Excessive debt is one of the major reasons why people file for bankruptcy. In many cases, the excessive debt is the result of paying for necessities such as medical bills and vehicle repairs. While there are some exceptions, most credit card debt can be discharged when a person successfully completes Chapter 13 or Chapter 7 bankruptcy. Chapter 7 Bankruptcy and Credit Card Debt When you file for ...

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5 Reasons Why You Should Never Lie to the Bankruptcy Court

Posted By Allmand Law Firm, PLLC || 22-Aug-2016

There are too many debtors who think they can file bankruptcy protection and feel the court doesn't need to know everything about their finances. The bankruptcy code was established with federal regulations providing a fair option for debtors who truly need financial help. When individuals abuse the law for their own benefit, they can face serious consequences, including criminal charges. Here ...

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Choosing a Bankruptcy Attorney: Characteristics of Quality Representation

Posted By Allmand Law Firm, PLLC || 17-Aug-2016

Getting the outcome you deserve for your financial situation includes having the right legal representation in your corner. Taking time to choose an experienced bankruptcy attorney may save you headache and frustration down the road, and can make all the difference in the outcome of your case. Debtors have been known to choose an attorney based on an advertisement, price or claims in what they say ...

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6 Things to Avoid Prior to Filing Bankruptcy

Posted By Allmand Law Firm, PLLC || 8-Aug-2016

If you are considering bankruptcy or have plans to file bankruptcy in the future, getting prepared ahead of time can affect the outcome of your case. At Allmand Law Firm, PLLC, we know that failing to prepare or taking the wrong steps can significantly jeopardize the success of a case. This is why we do all we can to educate our clients about their cases and their rights, and to provide them with ...

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Four Signs That it's Time to Consider Bankruptcy

Posted By Allmand Law Firm, PLLC || 1-Aug-2016

Financial troubles can happen to anyone at any time. Even the most financially conscientious individuals can be struck by an unexpected circumstance like an illness or job loss. If you are struggling with debt and are unable to keep up with your bills, you may be wondering if bankruptcy is the answer. Below, we have identified four signs that it may be time to speak to a bankruptcy lawyer about ...

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Timelines You Should Know When Filing Bankruptcy

Posted By Allmand Law Firm, PLLC || 18-Jul-2016

One factor that can make a difference in how your bankruptcy case proceeds is meeting necessary deadlines. There are a number of timelines related to your case that play a big role in helping achieve the outcome you want. While there may be several deadlines you need to consider, it helps to think about them in the order of their occurrence. In this sense, this can help set milestones throughout ...

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