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Bankruptcy Law Blog

Tuesday, January 17, 2017

Are Attorney’s Fees Dischargeable in an Alabama Bankruptcy?


Is bankruptcy the right choice for me if I owe significant attorney’s fees?

Many Americans today are burdened by debt.  An estimated eight out of 10 Americans are in debt, some seriously, with debts ranging from mortgages, unpaid credit card balances, student loans, car loans, and attorney’s fees, among other expenses.  Attorneys, particularly family law and divorce attorneys, can charge hefty fees.  Your legal fee debt could mount rapidly during a divorce or other legal matter.  You may find yourself wondering whether attorney’s fees are dischargeable in bankruptcy.


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Monday, December 26, 2016

Auto Accident Settlement Funds Belong to Bankruptcy Estate


 What happens to unexpected cash infusions during bankruptcy? 

Anyone who has experienced a financial crunch has wished that a money tree would suddenly pop up in his or her yard. Sometimes this can actually happen, figuratively speaking of course, and we feel like we’ve got some room to breathe. Unfortunately, if this money tree sprouts closely before or after a bankruptcy, it may be your creditors that get to harvest the bounty.

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Tuesday, December 13, 2016

Florida debt counselor owes $100M, files bankruptcy


Many Americans facing tough financial situations look for someone to turn to that they can trust to help them get into a better financial position. Unfortunately for many, the people they turn to end up making things worse.

Just this month Florida businessman Timothy McCallan, a so-called “debt counselor” is facing a $107 million judgment from an Alabama bankruptcy court. The judgment stems from McCallan’s involvement with a company called Allegro, which was shut down by a judge six years ago due to fraud. Not only is McCallan facing this judgment, he also spent some time in jail for committing fraud on the court.


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Monday, November 21, 2016

Why do credit card applications get rejected? It's not the reasons you think.


How can you rebuild your credit after bankruptcy?

People often wonder, “what’s next” after filing for bankruptcy. It’s a valid question after hitting that financial reset button. The short answer is: rebuild.


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Tuesday, November 15, 2016

11th Circuit Decides - Bankruptcy Homeowners Cannot Surrender Residence in Bankruptcy and Later Fight Lender’s Foreclosure


What are your options when faced with losing your home in bankruptcy?

The 11th Circuit Court for the Southern District of Florida decided this past month that debtors who surrender their residence in bankruptcy under 11 U.


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Monday, October 31, 2016

Debt-Relief Phone Scam Targets Alabama Consumers


How can you spot a debt collection scam?

Living with debt you can’t afford to make payments on is stressful. Constant phone calls can cause additional tension and anxiety that you don’t need.  It doesn’t help when disreputable people try to capitalize on your situation to try and scam you out of more money. Unfortunately, this happens on a regular basis.

Fake Attorney General Investigations Division

Alabama Attorney General Luther Strange has recently warned residents of new phone scams popping up in the state.


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Monday, October 17, 2016

Family of deceased veteran suing Wells Fargo over sudden foreclosure


How can you save your house during a bankruptcy?

Perhaps one of the common questions that comes up when we talk to people about filing for bankruptcy is: Will I get to keep my house? Being able to hit the refresh button on your finances while still being able to live in your home is often critical to people’s decision to file. 

While it’s often the case that people can keep their homes during bankruptcy, if there’s a foreclosure in the process, banks tend to make it harder to do.

Unsavory Bank Tactics Trigger Foreclosure

Wells Fargo has recently come under scrutiny again when it suddenly foreclosed on a deceased veteran’s home.


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Friday, September 30, 2016

Credit Counseling: Not Just Another Hoop To Jump Through


A few years ago, Congress updated our nation’s bankruptcy laws. Conservatives and the financial services lobbies argue that the new law was needed to curb abuse of the bankruptcy system and teach people to be more financially responsible, while liberals and consumer advocates say that this law unfairly penalizes poor people who may be suffering financially due to illness, divorce or unemployment.

One of the things people who want to file for bankruptcy must now do, which all sides generally agree is a good thing, is undergo credit counseling.


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Wednesday, September 21, 2016

Filing Bankruptcy as an Individual When You're Married


How will my spouse be affected if I file for individual bankruptcy?

If you are married and file for individual bankruptcy, your spouse may also be affected. The results will be different if you reside in a community property state or if you live in a common law property state like Alabama. In the latter case, your bankruptcy follows the rules of equitable distribution.

There are a great many complexities involved in filing for personal bankruptcy. The decisions made, such as whether to file individually or jointly as a married couple, and whether to file Chapter 7 or Chapter 13, may have serious consequences for both parties.


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Sunday, August 28, 2016

Bankruptcy Filings Increased in Alabama Over the Past Year Despite Decreasing Nationwide


The old saying “no news is good news” could basically be the mantra of all of us hoping that Alabama is finally starting to recover from the Great Recession of the last decade. The latest financial news is in fact, somewhat of a mixed bag. The Administrative Office of the U.S. Courts has just released its data on the number of bankruptcies filed over the past year, and Alabama has seen an increase while the country as a whole saw a decrease.
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Tuesday, August 9, 2016

Consumer Watchdog Reins in Debt Collectors


What is being done about abusive debt collectors?

If you're like many Americans, you have debts that are in collection, and may have been faced with aggressive practice of debt collectors. Now, the Consumer Financial Protection Bureau (CFPB) has announced new rules to curb certain practices of third-party debt collectors that engage in debt collection activities on behalf of creditors or purchase. The new rules are also aimed at reining in debt buyers that purchase consumer debt, often for pennies on the dollar.

This is another step by the CFPB, put in place under the 2010 Dodd-Frank law, to protect credit consumers. We have previously reported that the federal consumer agency intends to regulate payday lenders, and the CFPB has plans to roll out additional initiatives aimed at creditors and first-party collectors later this year.


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Padgett and Robertson assist clients with Bankruptcy, Personal Bankruptcy, Consumer Bankruptcy, Chapter 7 Bankruptcy, Chapter 13 Bankruptcy and The New Bankruptcy Law in Mobile, Alabama and throughout southern Alabama. Alabama State Bar Association Regulations require the following: "No representation is made that the quality of the legal services to be performed is greater than the quality of legal services performed by other lawyers." 11 U.S.C. 528 of the U.S. Bankruptcy Code requires the following: "We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.”



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