All items from AllmandLaw

The idea behind bankruptcy is to assist a person in resolving debt and learning better financial management. Being able to start again is not just about leaving the past behind, it also requires a person to protect their remaining assets. The benefits of this can be maximized by NOT borrowing, selling or depleting these assets... Read more »
The post Can I Sell Some of My Assets Before Filing Bankruptcy? appeared first on Allmand Law Firm PLLC.

From AllmandLaw
Posted 1 week 5 days ago

While serving in the military, individuals have the same rights as regular civilians to file bankruptcy protection in order to save their valuable assets. However, individuals should keep in mind that certain high-ranking positions require security clearances that may not be available to people who have filed for bankruptcy. Nevertheless, there are no legal restrictions... Read more »
The post Can You File Bankruptcy While in the Military? appeared first on Allmand Law Firm PLLC.

From AllmandLaw
Posted 3 weeks 4 days ago

Gubernatorial candidate Nathan Deal is reeling after a U.S. bankruptcy judge ordered the reopening of a 2009 bankruptcy filing by Deal’s daughter Carrie Deal Wilder and his son-in-law Clint Wilder. A U.S. bankruptcy trustee sought to reopen the Wilders’ case after it was revealed that Clint Wilder was not eligible for a discharge of his... Read more »
The post Failure To Disclose Previous Bankruptcy Jeopardizes Discharge appeared first on Allmand Law Firm PLLC.

From AllmandLaw
Posted 4 weeks 2 days ago

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 9 weeks 4 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 10 weeks 3 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 14 weeks 3 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 14 weeks 4 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 15 weeks 1 day 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 18 weeks 5 days 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 19 weeks 2 days ago