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Bankruptcy Law Blog

Thursday, July 30, 2020

Clock Management Matters Just As Much In The Court System As It Does On The Basketball Court


NBA games last 45 minutes. While the clock may stop and start multiple times, the amount of time players are on the court shooting hoops is precisely regulated. Baskets made during a pause in the action, or after the clock runs out, simply do not count.

In the legal world, clock management matters just as much as it does on a basketball court. Debts you accumulate after you file for bankruptcy, even while your case is pending, cannot be forgiven.


Read more . . .


Monday, July 27, 2020

Beloved Burger Chain Files For Bankruptcy


For the second time in less than 25 years, Krystal Company and its famous square burgers have emerged from bankruptcy. The fast food chain filed for Chapter 11 bankruptcy in January, and exited with a new owner in late May.
Read more . . .


Monday, June 29, 2020

We Can’t Predict The Future


The famous 16th-century prophet and mystic Nostradamus is said to have predicted the Great Fire of London, the French Revolution, the rise of both Napoleon and Adolf Hitler, both World Wars, and the nuclear bomb. Conspiracy theorists also say he predicted the 2020 pandemic and economic meltdown.

We’re skeptical. The ability to predict the future is not some rare gift that those with pseudo-magic powers can develop, it’s an impossibility. If humans could predict the future, 2020 would have turned out differently, and bankruptcy lawyers might be out of a job.
Read more . . .


Friday, June 26, 2020

Can States File For Bankruptcy?


Individuals and families can file for bankruptcy. Businesses can file for bankruptcy. And Read more . . .


Thursday, May 21, 2020

Bankruptcy Can Be a Lifeline During the Coronavirus Crisis


When the coronavirus began to spread, few could predict that it would so dramatically impact our lives. We were told it wasn’t that serious. We were told it was like the flu. Then we were told to stay home for weeks on end. Now we are facing Read more . . .


Monday, May 18, 2020

What Happens to Your Medical Bills When You File for Bankruptcy?


According to AL.com, Alabama residents who contract the coronavirus can expect to rack up hospital bills somewhere in the $20,000 to $240,000 range.
Read more . . .


Monday, April 20, 2020

Boy Scouts Declare Bankruptcy


2020 is the centennial anniversary of the Mobile Area Council of the Boy Scouts of America. Celebrations are planned for the entire year, assuming the COVID-19 crisis passes, but could this be the last year of scouting in our area? Earlier this year, the Boy Scouts of America declared


Read more . . .


Friday, April 17, 2020

Wild Cards Do More Than Help Get Your Team In The Playoffs, They Are An Important Bankruptcy Tool


In sports, a team awarded a wild card slot gets to go to the playoffs even though they failed to qualify in the normal way. This prevents teams in really strong conferences from being excluded while weaker teams in less competitive conferences get an easy berth in the playoffs. It’s all about making the system fairer.

In the bankruptcy world, the term “wild card” is used to describe a type of exemption that can be used by a debtor to save (aka exempt) a particular piece of personal property from being sold off or returned to creditors. Once again, fairness is the justification.
Read more . . .


Monday, March 23, 2020

How Much Does It Cost To File For Bankruptcy?


Filing for bankruptcy isn’t free. This surprises a lot of people who assume that the government wouldn’t nickel and dime people who are already under financial stress. How much it costs depends Read more . . .


Thursday, March 19, 2020

Bankruptcy as a Repo Re-Do?


We often think of the United States Supreme Court as a court that only deals with politically divisive cases on things like abortion, elections, and the rights of criminals. But the highest court in the land is tasked with resolving disputes in all areas of the law. This year, it is taking up an important bankruptcy case.
Read more . . .


Tuesday, February 11, 2020

Fluke or Trend? Student Loan Driven Bankruptcy Sparks Debate


Almost all of the 2020 presidential candidates have a plan for dealing with student debt. It has become a major issue on the campaign trail because a huge chunk of the electorate is struggling to pay off their student loans. According to data compiled by the Federal Reserve, Americans hold $1.6 trillion in student loan debt.

One of the reasons student debt is such a burden is that it is generally not dischargeable through Read more . . .


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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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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.”