When you file Chapter 13 bankruptcy, this allows you to reorganize your debt and repay your creditors over a three to five year plan. An appointed bankruptcy trustee will oversee the administration of the repayment plan. Below, Reed Allmand discusses the bankruptcy trustee's duties, as well as what to expect when filing Chapter 13. What [...]
Two of the most devastating and overwhelming situations in life are bankruptcy and divorce. Unfortunately, many people who endure the one are also faced with the other. Filing bankruptcy can indicate financial difficulty, which is a leading cause of divorce. If you are fighting with your spouse about money, you are more likely to seek [...]
If you are overwhelmed with debt, filing bankruptcy may be a good option for you. It can help you eliminate debt, obtain manageable payments, and address the past so you can plan for the future. A skilled bankruptcy lawyer at Allmand Law can evaluate your situation and help you understand your legal options. Whether you file Chapter [...]
Donald Trump is the self-proclaimed “king of debt.” Before becoming president, he built his brand and companies with massive amounts of borrowed money. Allmand Law teamed up with James Publishing to illustrate this timeline by Mother Jones, outlining Trump’s Bankruptcies: How Trump Leveraged Other People’s Money to Make Bankruptcy Work for Him. In the 1980s, [...]
Higher education is a critical investment for the future, and it has become a commodity younger generations, as well as older generations looking to start new careers, are required to have by more and more companies when beginning their careers. Unfortunately, it doesn’t come cheap. With rising tuition costs at both public and private institutions, [...]
Bankruptcy is a debt relief process that enables consumers with insurmountable debt loads and financial struggles to gain control of their economic health. Achieving this goal and obtaining a brighter financial future will depend on the Chapter of bankruptcy filed under. For example: Chapter 7 bankruptcy involves the liquidation of non-exempt assets to pay at [...]
Bankruptcy is a significant legal endeavor that can provide substantial benefits to individuals and families struggling financially. Thanks to the automatic stay and discharge of debts provided by consumer bankruptcy – including Chapter 7 and Chapter 13 bankruptcy – those inundated by insurmountable debt loads and financial concerns can secure the fresh start and cleared [...]
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 [...]
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 [...]
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 [...]
