Bankruptcy

Gone are the days when people worked for the same company for 30 years and retired with a generous pension. Today, most people count on Social Security and a self-funded IRA or 401K account to make it through their Golden Years. This leaves many people who are in dire financial straits wondering what will happen to the money they have worked so hard to save up if they file for bankruptcy. Can you keep it? Or will the bankruptcy court force you to use your nest egg to pay off your creditors? 

The answer is every lawyer’s favorite answer — it depends. Whether the money you are counting on for your retirement is safe, or will be used to pay off your creditors, depends on the type of account the money is in, and the amount of money you have saved up.
Read more . . .

One of the confusing things about filing for bankruptcy, or getting involved in any lawsuit for that matter, is the number of people involved whose role is never really explained. You are the person whose livelihood is at stake, you are the person who is paying for everything, yet you are the one who feels out of the loop. 

We understand how frustrating that can be, which is why the Padgett and Robertson team takes the time to carefully explain the bankruptcy process and the people involved in it to each and every one of our clients.
Read more . . .

According to the Bureau of Labor Statistics, the average worker currently holds ten different jobs before age forty, and this number is projected to grow. Unfortunately,

Read more . . .

If you are going through the bankruptcy process and your spouse has passed away, our hearts go out to you. Both situations are difficult, so we can only imagine how hard it must be to go through them at the same time.

Below is an overview of what the bankruptcy process looks like when a filer has passed away, but it is obviously not a full explanation. If this is the situation you are in, we strongly urge you to Read more . . .

In 2014, when Remington announced it was opening a new factory in Huntsville, the whole state of Alabama was excited. It was now possible to buy a rifle that didn’t just say Made in the USA, it said Made in Alabama. Everyone seemed to want one. It was shocking when just a few years later the company announced it was filing for bankruptcy. 

A Read more . . .

One of the frustrating things about filing for bankruptcy is that in addition to being emotionally draining, it is time consuming. Filers must often take time off of work to sort things out. 

If you don’t live near the bankruptcy courthouses in Montgomery, Opelika, or Dothan, you may also be concerned about how often you will have to drive to court and wait around all day for your case to be called.
Read more . . .

One of the frustrating things about filing for bankruptcy is that in addition to being emotionally draining, it is time consuming. Filers must often take time off of work to sort things out. 

If you don’t live near the bankruptcy courthouses in Montgomery, Opelika, or Dothan, you may also be concerned about how often you will have to drive to court and wait around all day for your case to be called.
Read more . . .

Low commodity prices and the simmering trade war with China have pushed many farmers to the brink. There are persistent whispers that we are on the cusp of something similar to the Farm Crisis of the 1980s. Our firm is hoping for the best, but preparing for the worst by brushing up on the special chapter of the bankruptcy law that applies to farmers and fishers.
Read more . . .

April 15, otherwise known as Tax Day, is rapidly approaching. Many people have been asking us what will happen to their expected tax refund if they have filed for bankruptcy or are planning on filing soon. The answer is every lawyer’s favorite answer, it depends. 

Whether you get to keep your refund or have to hand it over to your creditors depends on
Read more . . .

Read more . . .

cbankThe last thing someone with a legal issue wants to deal with is an attorney who doesn’t know their head from a hole in the ground. But that happens far too often in the bankruptcy and collections world. Many attorneys that are great at helping businesses with other legal matters make huge mistakes when they decide to dabble in collections. 

In 2018, Wisconsin Lawyers Mutual Insurance Co.
Read more . . .