All items from AllmandLaw

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,... Read more »
The post Personal Bankruptcy and Business Ownership: What You Need to Know appeared first on AllmandLaw.

From AllmandLaw
Posted 4 weeks 6 days ago

A consumer facing a insurmountable financial burden many times pursue either a Chapter 7 or a Chapter 13 bankruptcy. A Chapter 7 bankruptcy provides a consumer relief in the form of what is known as a discharge from a good portion of his or her debts. On the other hand, relief in a Chapter 13... Read more »
The post I Just Received a Motion for Relief from Stay: What Do I Do? appeared first on AllmandLaw.

From AllmandLaw
Posted 5 weeks 5 days ago

  The Consumer Protection Bureau (CFPB) slapped Ace cash express with a $5 million dollar fine and ordered $5 million in restitution and refunds to borrowers. The CFPB found that “Ace used false threats, intimidation, and harassing phone calls to bully pay day borrowers into a cycle of debt,” said CFPB Director Richard Cordray.  Ace... Read more »
The post Ace Cash Express Stacked the Deck against Consumers, CFPB Collects the $10 Million Dollar Pot appeared first on AllmandLaw.

From AllmandLaw
Posted 9 weeks 5 days ago

  Springtime is supposed to be a joyful time for those who have graduated from college. However, for many members of the class of 2014, graduation means that they have left their student lifestyle behind, and they are about to meet their student debt obligations head-on. Typically, this reality is felt the most six months... Read more »
The post Obama Introduces The New Pay As You Earn Plan Capping Student Loan Payments appeared first on AllmandLaw.

From AllmandLaw
Posted 9 weeks 6 days ago

The Supreme Court finally addressed the issue of when an IRA does not count as a retirement account. For nearly ten years, the question of whether inherited IRAs are protected during bankruptcy has gone unanswered. Finally, the Supreme Court has answered it with a unanimous no. In Clark v. Rameker, Heidi Heffron-Clark filed for bankruptcy... Read more »
The post Are Funds in an Inherited IRA Protected in Bankruptcy? appeared first on AllmandLaw.

From AllmandLaw
Posted 10 weeks 3 days ago

Chapter 11 bankruptcy, also known as “reorganization bankruptcy,” is a bankruptcy plan that allows corporations, partnerships and individuals to reorganize their finances and restructure their debt. Unlike Chapter 13 bankruptcy cases, Chapter 11 bankruptcy has no debt ceiling. This plan is popular with both large and small businesses that need to restructure their debt. The... Read more »
The post Understanding Your Plan of Reorganization for a Chapter 11 Bankruptcy appeared first on AllmandLaw.

From AllmandLaw
Posted 14 weeks 7 hours ago

The Fair Credit Reporting Act was created to help consumers dealing with errors on their credit report. When disputing something on your report, you will want to take action in the best possible manner. Otherwise, with one mistake, you will be forced deal with a host of problems. With this in mind, here are six... Read more »
The post Six Actionable Tips on Writing a Credit Dispute Letter appeared first on AllmandLaw.

From AllmandLaw
Posted 14 weeks 4 days ago

claim-children-taxesWhen you file bankruptcy protection debtors are required to list their assets. This information is recorded in Schedule C of your filing documents or your petition. If you have children you may have concerns about their property and whether bankruptcy can assist in keeping them away from creditors. In most cases, this is not an […]

From AllmandLaw
Posted 21 weeks 5 hours ago

Decision-MakingBankruptcy laws do not vary from one state to another. Meaning, laws are the same for all states. However, when you file bankruptcy each state may have different median income amounts you need to meet in order to qualify. Exemptions you qualify for may also vary depending on the type of property. It is important […]

From AllmandLaw
Posted 21 weeks 3 days ago

Today-In-Bankruptcy (1)Bringing you the most up-to-date news, tips and blogs throughout the web. Here’s your Bankruptcy Update for April 24th, 2014 Gherkin tower on way out of bankruptcy pickle Top L.A. bankruptcy law firm to close doors Debt Settlement vs. Bankruptcy: Which is Worse for Credit Score?

From AllmandLaw
Posted 21 weeks 4 days ago