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Bankruptcy Law Blog

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 . . .


Friday, February 7, 2020

How Bankruptcy Brought Us the Chocolate Bar


The odds are good that the last piece of candy you ate was produced by the Hershey Company. The famous chocolatier reportedly has a 45% market share in the candy aisle. It is almost hard to believe that the company’s founder, Milton Hershey, drove two other candy companies he founded into bankruptcy.
Read more . . .


Thursday, January 16, 2020

The Pros and Cons of Filing for Bankruptcy


Jimmy Fallon does a recurring bit on The Tonight Show where he takes a look at the pros and cons of various topics. Things like dating Britney Spears, graduating from college, and using AirBNB. The pro is usually something serious, and the con is often a joke.
Read more . . .


Monday, January 13, 2020

Bankruptcy More Common in Alabama Than Any Other State


This time of year, everyone is paying attention to statistics. We watch the price of various crops as harvest approaches. We keep a close eye on the weather. And we all know what Alabama’s record is on the football field. (Roll Tide!)

As a law firm that works almost exclusively on bankruptcy cases, the Padgett & Robertson team also keeps a close eye on some other statistics — like the number of Read more . . .


Thursday, December 12, 2019

How Does A Chapter 13 Repayment Plan Work?


If you are interested in filing for bankruptcy under Chapter 13 of the Bankruptcy Code, you have probably heard at least a little bit about the 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.”