Financial Crisis can hit anyone at any time according to Weldon Reed Allmand who is a Board Certified Consumer Bankruptcy Attorney by the Texas Board of Legal Specialization. A common misconception is that bankruptcy is caused by incurring more debt than can be repaid. However, most bankruptcy clients previously had excellent credit and income to support their purchases until a catastrophic event such as a loss of job, illness, or divorce occurred.
And that is exactly where Weldon “Reed” Allmand steps in. An experienced consumer bankruptcy attorney at Allmand Law Firm with locations in Hurst, Dallas, and McKinney, he is on a self-proclaimed mission to help good people through bad financial times by helping them save their assets and get out of debt for good.
Amid the economic turmoil, Allmand offers hope and tangible relief to financially ailing clients, allowing them to avoid devastating losses.
“I understand and empathize with their predicament and use the legal system to help them hold on to their assets, dignity, and sanity,” says Allmand, who has saved numerous homes from foreclosure.
Childhood Lessons
Allmand’s own vision is rooted in his own financially precarious childhood in Abilene “My father always had difficulty holding a job and supporting our family, so after my parents divorced when I was 12, my sister and I got jobs to help make ends meet,” he recalls. “I remember what it felt like as a child to worry that our car would be repossessed or home foreclosed on. I knew that I wanted a career that would allow me to help other people in the same situation.”
That desire and drive to succeed led Allmand to Abilene Christian University in Abilene, TX, where he majored in Finance and Accounting, graduating with a Bachelor of Business Administration degree, followed by a Juris Doctorate from Texas Wesleyan University School of Law in Fort Worth.
The combination of business and legal education with both the religious and laic perspective have helped Allmand Fulfill his personal and professional goals.
“Abilene Christian University emphasized using your profession to be a servant for God. I wanted to accomplish this but was uncertain how I could do so in the legal field,” he says. “I feel that I was ‘led’ into the bankruptcy profession for a reason, and I am so grateful to have an opportunity to serve families in financial distress by finding a solution to their problems.”
Results-driven Approach
Talking about saving properties from foreclosure and repossession is one thing, but actually going the extra mile and bringing positive results is quite another. This is where Allmand’s experience and expertise in consumer bankruptcy — most specifically in Chapters 7 and 13– makes all the difference.
“My firm has proven time and again that filing for bankruptcy can be a legitimate choice to maintain assets and start a new financial plan,” he says. “It invokes the power of federal law called the bankruptcy ‘stay’ which forces creditors to cease all collection efforts immediately. This means that after bankruptcy is filed creditors cannot foreclose, repossess, sue, garnish, call, or undertake any other actions to collect a debt without first getting the permission of the Bankruptcy Court. This allows the consumer to basically call a ‘time out’ and freeze creditors in their tracks while they reorganize their debts in Chapter 13 or discharge them entirely in Chapter 7.”
In fact, Allmand has made a name for himself in the consumer bankruptcy niche – as extension media coverage in Los Angeles Times, Fox News, and CBS – TV, among other news outlets – demonstrates. His offices have become one of the largest bankruptcy filers in the State of Texas. All this goes to prove Allmand is not only a legal whiz but is also committed to pulling all the stops to save people from what he calls “unimaginable hardships that could turn their entire life upside down.”
Grateful Clients
During his long career as one of the leading bankruptcy lawyers in the Dallas area, Allmand has worked on several larges cases for high-profile clients, but, he emphasizes, all cases and all clients are equally important to him.
His commitment and dedication to smoothing out the rough financial patches, as well as a sensitive and respectful way he treats those who are on the brink of losing all that they own, is appreciated by scores of grateful clients.
“I was very reluctant about filing bankruptcy after hearing so many horror stories,” one client relates. “What really helped make up my mind was the very useful information about laws and procedures given to me at no expense by Mr. Allmand. Having exhausted my resources this really helped me. After my first meeting, I not only felt relieved but confident in my choice. I left assured that things would get better.”
Another client, William Figueroa, says he is thankful to Allmand for “helping me keep my home for my three boys.”
Such testimonials, Allmand says, “are heartwarming and prove to me that I had chosen the right path in life – to help people in what seem to be truly hopeless situations.”
The Power Within
Being a busy bankruptcy attorney lawyer can be an all-consuming job, but Allmand still makes time for some personal pursuits. He financially supports a variety of charitable, religious, and community organizations and projects in the Dallas area with generous donations and time. He was honored to be named the Dallas Pro Bono Attorney of the Year in 2018. “I have been pleased in life and giving back to the community I am part of is my way of helping others and thanking God for my many blessings,” he says.
Allmand’s hectic schedule also doesn’t prevent him from cherishing his greatest pride and joy which is his wife and two daughters. How does his family help his practice as a bankruptcy attorney? “In many ways, actually,” he answers. “By its very nature, my work and constant worry about my clients are very stressful. My family helps me relax and give me inner peace and harmony. When my mental energy is restored, I am not only a much better lawyer but also a happier person!”
Clearer mind and better focus – not to mention his faith – help Allmand confront and tackle numerous challenges inherent to his job. “I know that financial hardships can fall on good people through no fault of their own,” he says. “I am just thankful because I can make a positive and meaningful impact on the lives of people in crisis.”
Professional Associations and Memberships:
• American Bar Association
• Tarrant County Bar Association
• Dallas County Bar Association
• National Association of Consumer Bankruptcy Attorneys
• America National Bankruptcy Institute
• Dallas Association of Young Lawyers
• Tarrant County Young Lawyer Association
• American Consumer Bankruptcy College
