Bankruptcy Law Blog

Monday, May 1, 2017

Can I Keep My Boat If I File For Bankruptcy?

According to estimates from the U.S. Coast Guard, over 25% of all Alabama residents go boating each year, and almost one fifth of the state lives in a household that owns some type of boat. Boating is a fun, family-friendly activity, and for many people in our state it’s the way they feed their family or earn a living. So, it should come as no surprise that a lot of potential bankruptcy filers are worried the government will seize their boat if they file for bankruptcy.

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Saturday, April 29, 2017

Paying For Bankruptcy

USA Today recently ran a story reporting on the increased bankruptcy filings that are typical this time of year. They seemed shocked that a lot of people use their tax refund to pay their bankruptcy court costs instead of splurging on a new TV. Well, I’ve got news for them: life isn’t easy out here in the real world.

When you are in financial trouble,

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Monday, April 17, 2017

Five Famous People Who Found Success After Bankruptcy

Will bankruptcy help me to meet my financial goals?

If you are considering filing for bankruptcy, you are in good company.  Over 500,000 people file for Chapter 7 bankruptcy each year, while around 300,000 will file for Chapter 13 bankruptcy annually.  Not only is filing for bankruptcy quite common, but it has also allowed several now famous individuals to find financial and personal success.  The following is a look at some bankruptcy success stories.  To join the list of those individuals who have used bankruptcy to meet their financial goals, contact the

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Sunday, March 26, 2017

How Many Times Can You File For Bankruptcy?

How Many Times Can You File For Bankruptcy?

During the recent presidential campaign, now-President Trump’s multiple bankruptcies were discussed quite a few times. He made it clear that he has never filed for personal bankruptcy, but that he has been more than happy to take advantage of the bankruptcy laws when his businesses were in trouble. In fact, Trump-owned businesses have filed for bankruptcy four times.

When the news started to spread that Trump’s businesses had filed for bankruptcy more than once, several people reached out to our firm and asked if filing for bankruptcy multiple times was something “normal people,” aka not billionaires, could do. The short answer is yes, you can file for bankruptcy as many times as you need to.

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Saturday, March 11, 2017

If Your College Closed, You May Not Have To Repay Your Student Loans

It is generally true that education is a good way to better your job prospects and your future, but that is not always the case. Over the past few years it has become clear that some colleges are more concerned with making money than helping their students get a good education. Students who attend these sorts of schools end up with a degree that is worth less than the paper it is printed on, and a mountain of student loan debt.  

Student loan debt typically cannot be forgiven even if the debtor files for personal bankruptcy.

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Sunday, February 26, 2017

Supreme Court To Decide Debt Collection Case With Alabama Roots

Debt collectors are some of the most-hated folks on the face of the earth. People like them even less than lawyers, which is saying something. Unlike lawyers, debt collectors deserve their rotten reputation. They aren’t out to help anyone but themselves as they pester, threaten, and sweet talk people into paying off debt that in some cases is no longer collectable.

The highest court in the land, the United States Supreme Court, has actually taken up a case that centers around expired credit card debt that a debt collector attempted to get an Alabama woman to pay back when she filed for bankruptcy.

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Friday, February 17, 2017

Think You Are The Only One Filing Bankruptcy? Think Again.

Sometimes the people that come into my office are embarrassed. They think everyone else in the world has things figured out, but they are a huge screw-up because things are not going great for them. The truth is 26,269 bankruptcy cases were filed in Alabama last year, meaning there are a heck of a lot of people in our state going through hard times right now. In fact, Alabama is actually doing worse than the rest of the nation when it comes to bankruptcies.

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Monday, January 23, 2017

Are Attorney Fees Dischargeable in Bankruptcies?

Everyone files for bankruptcy with different overwhelming financial obligations looming over their heads. Sometimes, those obligations include legal fees. Ideally, particularly with a Chapter 7 bankruptcy, all debts will be wiped out, or at least reduced in a Chapter 13 bankruptcy. Unfortunately, some obligations will remain including certain legal fees. Generally speaking, unsecured legal fees are fully dischargeable in a Chapter 7 bankruptcy, just like any other unsecured debt.

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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.

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.”