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Weldon Allman
About | Practice Areas
Allmand Law Firm
4849 Greenville Ave Ste 230 Dallas, TX 75206Â» view map
Bankruptcy
Helping Good People Get a Fresh Start

At Allmand Law Firm, PLLC, our goal is to help each of our clients pursue a fresh start and the second chance they need to start again.

800-828-7421
1. Weldon Allman Dallas, TX
  Attorney at Law - TX, 2000
  Texas Wesleyan University J.D. 2000
2. AboutAllmand Law Firm
  Our team has more than two decades of experience.
3. Practice AreasExpertise
  Bankruptcy
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Chris R. Norris

Litigation, Insurance, Credit & Debt, Bankruptcy

Status: In Good Standing

CONTACT

500 North Central Expressway, Plano, TX 75074

Robert Clary

Litigation, International Other, Credit & Debt, State Appellate Practice

Status: In Good Standing Licensed: 46 Years

CONTACT

405 Windward Dr, Allen, TX 75094

Andreea Valentina Nicolae

Credit & Debt, Personal Injury, Family Law, Litigation

Status: Inactive Licensed: 24 Years

CONTACT

224 Sheila Ave, Allen, TX 75094

Michael S. Bernstein

Business, Credit & Debt, Bankruptcy & Debt

Status: In Good Standing Licensed: 36 Years

CONTACT

416 S 3Rd St, Garland, TX 75040

Brandon Michael Duck

Securities, Bankruptcy, Energy, Commercial Real Estate

Status: In Good Standing

CONTACT

2101 Glencrest Ln, Garland, TX 75040

Jerald Keith Brown

Science, Technology & Internet, Employee Rights, Business & Trade, Consumer Bankruptcy

Status: In Good Standing Licensed: 34 Years

CONTACT

505 Willowcrest Dr, Garland, TX 75040

Janet F. Resetar

Bankruptcy, Family Law, Clean Air Practice, Wills

Status: Deceased Licensed: 28 Years

CONTACT

Garland, TX 75046

Scott Douglas Levine

Other, Litigation, Lawsuit & Dispute, Commercial Bankruptcy

Status: In Good Standing Licensed: 32 Years

CONTACT

200 N 5Th St, Garland, TX 75040

Albert J. Leviton

Commercial Real Estate, Wills, Credit & Debt, Consumer Bankruptcy

Status: In Good Standing Licensed: 65 Years

CONTACT

604 Main St, Garland, TX 75040

Carl D. Tillery

Family Law, Business & Trade, Credit & Debt, Personal Injury

Status: In Good Standing Licensed: 34 Years

CONTACT

Garland, TX 75049

800-923-0641

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LEGAL TERMS

CHAPTER 7 BANKRUPTCY

The most familiar type of bankruptcy, in which many or all of your debts are wiped out completely in exchange for giving up your nonexempt property. Chapter 7 b... (more...)

The most familiar type of bankruptcy, in which many or all of your debts are wiped out completely in exchange for giving up your nonexempt property. Chapter 7 bankruptcy takes from three to six months, costs about $200, and commonly requires only one trip to the courthouse.

NONEXEMPT PROPERTY

The property you risk losing to your creditors when you file a Chapter 7 bankruptcy or when a creditor sues you and wins a judgment. Nonexempt property typicall... (more...)

The property you risk losing to your creditors when you file a Chapter 7 bankruptcy or when a creditor sues you and wins a judgment. Nonexempt property typically includes valuable clothing (furs) and electronic equipment, an expensive car that's been paid off and most of the equity in your house. Compare exempt property.

BANKRUPTCY

A legal proceeding that relieves you of the responsibility of paying your debts or provides you with protection while attempting to repay your debts. There are ... (more...)

A legal proceeding that relieves you of the responsibility of paying your debts or provides you with protection while attempting to repay your debts. There are two types of bankruptcies -- liquidation, in which your debts are wiped out (discharged) and reorganization, in which you provide the court with a plan for how you intend to repay your debts. For both consumers and business, liquidation bankruptcy is called Chapter 7. For consumers, reorganization bankruptcy is called Chapter 13. Reorganization bankruptcy for consumers with an extraordinary amount of debt and for businesses is called Chapter 11. Reorganization bankruptcy for family farmers is called Chapter 12.

GUARANTOR

A person who makes a legally binding promise to either pay another person's debt or perform another person's duty if that person defaults or fails to perform. T... (more...)

A person who makes a legally binding promise to either pay another person's debt or perform another person's duty if that person defaults or fails to perform. The guarantor gives a 'guaranty,' which is an assurance that the debt or other obligation will be fulfilled.

SUBROGATION

A taking on of the legal rights of someone whose debts or expenses have been paid. For example, subrogation occurs when an insurance company that has paid off i... (more...)

A taking on of the legal rights of someone whose debts or expenses have been paid. For example, subrogation occurs when an insurance company that has paid off its injured claimant takes the legal rights the claimant has against a third party that caused the injury, and sues that third party.

S CORPORATION

A term that describes a profit-making corporation organized under state law whose shareholders have applied for and received subchapter S corporation status fro... (more...)

A term that describes a profit-making corporation organized under state law whose shareholders have applied for and received subchapter S corporation status from the Internal Revenue Service. Electing to do business as an S corporation lets shareholders enjoy limited liability status, as would be true of any corporation, but be taxed like a partnership or sole proprietor. That is, instead of being taxed as a separate entity (as would be the case with a regular or C corporation) an S corporation is a pass-through tax entity: income taxes are reported and paid by the shareholders, not the S corporation. To qualify as an S corporation a number of IRS rules must be met, such as a limit of 75 shareholders and citizenship requirements.

INTEREST

A commission you pay a bank or other creditor for lending you money or extending you credit. An interest rate represents the annual percentage that is added to ... (more...)

A commission you pay a bank or other creditor for lending you money or extending you credit. An interest rate represents the annual percentage that is added to your balance. This means that if your loan or credit line has an interest rate of 8%, the holder adds 8% to the balance each year. More specifically, interest is calculated and added to your loan or credit line through a process called compounding. If interest is compounded daily, the balance will rise by 1/365th of 8% each day. If interest is compounded monthly, the balance will rise 1/12th of 8% at the start of each month.

CREDIT FILE

See credit report.

SOLE PROPRIETORSHIP

A business owned and managed by one person (or for tax purposes, a husband and wife). For IRS purposes, a sole proprietor and her business are one tax entity, m... (more...)

A business owned and managed by one person (or for tax purposes, a husband and wife). For IRS purposes, a sole proprietor and her business are one tax entity, meaning that business profits are reported and taxed on the owner's personal tax return. Setting up a sole proprietorship is cheap and easy since no legal formation documents need be filed with any governmental agency (although tax registration and other permit and license requirements may still apply). Once you file a fictitious name statement (assuming you don't use your own name) and obtain any required basic tax permits and business licenses, you'll be in business. The main downside of a sole proprietorship is that its owner is personally liable for all business debts.

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Sachse Bankruptcy & Debt Lawyer, Texas

Sponsored Law Firm

Allmand Law Firm

SPONSORED LAWYERS

Chris R. Norris

Robert Clary

Andreea Valentina Nicolae

Michael S. Bernstein

Brandon Michael Duck

Jerald Keith Brown

Janet F. Resetar

Scott Douglas Levine

Albert J. Leviton

Carl D. Tillery

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LEGAL TERMS

CHAPTER 7 BANKRUPTCY

NONEXEMPT PROPERTY

BANKRUPTCY

GUARANTOR

SUBROGATION

S CORPORATION

INTEREST

CREDIT FILE

SOLE PROPRIETORSHIP

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