May 8th, 2013 by Reed Allmand
In many cases, assets that belong to your spouse may be off limits to creditors but it depends on the circumstances of the spouse filing for protection. There are a few factors to review that may give clarity regarding account funds. You need have a good idea of what assets are considered part of your [...]
More...February 12th, 2013 by Reed Allmand
When you receive a discharge at the end of your bankruptcy case you are not responsible for paying the debt. A discharge basically extends the protection of the automatic stay that went into effect when you filed your petition. Debts not eligible for discharge may continue to be the responsibility of the debtor. On the [...]
More...December 26th, 2012 by Reed Allmand
Credit card debt is one of the most common forms of debt that is discharged or eliminated in bankruptcy. While bankruptcy is a powerful tool that can eliminate qualifying debt, if a credit card company senses fraud in your case, this may reduce chances of the debtor getting debt discharged. So what is the difference [...]
More...December 10th, 2012 by Reed Allmand
Credit card use may be a concern for debtors experiencing job loss or those finding it a challenge to make ends meet. While juggling daily expenses many have a hard time meeting debt obligations. Bankruptcy may be the next step for those who are considering the option. Many consumers understand they should stop using their [...]
More...October 17th, 2012 by Reed Allmand
Missouri couple Eric and Cassandra Peoples have filed bankruptcy 8 years after they won a $20 million settlement case against a popcorn factory. Back in 2004, Eric and his wife filed suit against the factory he was employed with after developing a lung disease related to the butter flavoring. Shortly after winning their case they [...]
More...September 17th, 2012 by Reed Allmand
Credit Cards have been around for decades, and the debt that can come along with them can pose real financial challenges. Here’s a look at the state of credit card debt and how it’s affecting Americans. Please use the HTML code below to embed this graphic: Created By: Allmand Law Bankruptcy Firm
More...July 4th, 2012 by Reed Allmand
Mammoth Lakes, California, a popular skiing town files bankruptcy protection ahead of a multi-million dollar judgment brought against them by a developer. Town officials were trying to negotiate payment plan details ahead of a court-mandated deadline but were unsuccessful. With the bankruptcy filing, the town may seek approval for a 10-year payment plan that would [...]
More...January 31st, 2012 by Reed Allmand
The automatic stay is what stops creditors from pursuing collections against a debtor when bankruptcy is filed. In most cases, it either stops or temporarily ceases collection activity which gives you more time to handle finances. The action can be powerful against those who are at risk of eviction, foreclosure, utility disconnection and it can [...]
More...January 23rd, 2012 by Reed Allmand
If you’re struggling under a mountain of debt, you might have already toyed with the idea of declaring Chapter 7 or Chapter 13 bankruptcy. Perhaps it was just a flitting thought, or maybe you’re seriously considering it. But no matter what stage you’re at in any pre-bankruptcy planning, it’s vital for you to line up [...]
More...January 20th, 2012 by Reed Allmand
Under the bankruptcy laws enacted in 2005, bankruptcy petitioners need to be more cautious about their credit card use than ever before. It’s not just because bankruptcy courts can dismiss bankruptcy petitions over what they deem to be overtly fraudulent use – it is because card lenders can file a dispute to block your bankruptcy [...]
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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 [...]
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
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 [...]
When we modify your bankruptcy plan we are changing your plan payments. This means that we have to get with your employer and change the terms and amount of your wage order. The only way we can do that is by filling out a new wage order form.
Learn MoreIf the bankruptcy stay terminates on your home that means that even though your in bankruptcy, your creditor can pursue all there legal remedies they can pursue if you were not in bankruptcy. This includes foreclosure, and having your house sold and evicting you from your house.
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