Dallas, TX (PRWEB) November 18, 2011
Allmand Law now offers over 100 bankruptcy FAQ videos on YouTube. The videos are designed to educate debtors considering bankruptcy and answer bankruptcy questions such as:
Who can file bankruptcy?
How does bankruptcy impact a home mortgage?
How will divorce affect a bankruptcy filing?
What can debtors expect from a bankruptcy attorney?
How to make changes to a Chapter 13 bankruptcy payment plan?
How can debtors keep some assets in bankruptcy?
How can debtors avoid foreclosure by filing bankruptcy?
The videos, which are mostly under two minutes, also cover other frequently asked questions about the benefits of bankruptcy and the bankruptcy process for both Chapter 7 and Chapter 13 bankruptcy.
For debtors living in the Dallas-Fort Worth area, learning about bankruptcy before the need to file arises is important. Mortgage lenders in Tarrant County have already posted 1,515 foreclosures for November, an 8 percent increase from October according the Addison-based Foreclosure Listing Service.
“Foreclosures and bankruptcy filings are expected to increase through the rest of the year,” according to Reed Allmand, managing partner of Allmand Law. “Because there was a backlog of foreclosures due to investigations into robo-signing allegations earlier in the year, we could see a lot of foreclosures taking place in the last two months of this year.”
Allmand also pointed out that many homeowners in the Dallas-Fort Worth area may decide to file bankruptcy to avoid foreclosure, making education about the bankruptcy process critical if filers want to receive the full benefits of discharging their mortgage debts.
“Education is key to making a good decision about bankruptcy,” Allmand said. “Many homeowners facing foreclosure wrongly believe that it’s too late to receive help from the bankruptcy process once they get a foreclosure notice; but that is only because they don’t fully understand what bankruptcy can do for homeowners facing eviction.”
What bankruptcy can do is stop the foreclosure process in its tracks even if an auction is only days away, according to Allmand. Allmand also stressed that bankruptcy can help some homeowners cram-down a second mortgage; but many simply don’t know that possibility exists due to lack of education.
Foreclosure and foreclosure related issues are not the only topics covered by the bankruptcy FAQ videos. The videos also cover questions about credit card debt, reaffirming auto loans, paying off traffic fines in bankruptcy and even how to pay for a bankruptcy attorney, along with other common issues.
If debtors considering bankruptcy have specific questions about the process, they can search for their question on the Allmand Law and go directly to the brief video for an answer.
Reed Allmand is Board Certified in Consumer Bankruptcy by the Texas Board of Legal Specialization, the managing partner of the law firm Allmand Law and NACBA’s State Chair for the Northern District of Texas. He has been practicing bankruptcy law for nearly 10 years and has handled more than 3,000 bankruptcy filings. Allmand has appeared on “Money for Breakfast” on Fox Business News and is the author of “The Truth about Bankruptcy.” To speak with Mr. Allmand or to schedule an interview, please call (214) 265-0123.