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Bankruptcy

Friday, January 29, 2021

Bankruptcy Is Not A Moral Failure


When P.T. Barnum, the king of curiosities and co-founder of the self-proclaimed “Greatest Show on Earth,” went bankrupt, Ralph Waldo Emerson wrote that it showed the gods to be “visible again.” Emerson and many others were pleased that Barnum was in financial trouble because they disapproved of his money-making tactics.

Emerson’s attempt to tie Barnum’s bankruptcy to some sort of moral failure is perhaps fitting given that Barnum built his empire by exploiting racial differences, putting people with disabilities on public display, and committing outright fraud.
Read more . . .


Thursday, January 28, 2021

Bankruptcy Exemptions Ensure You Don’t Have To Start From Scratch


Ina Garten is one of the most popular celebrity chefs in America. People love her recipes, and her positive attitude, which is on full display on Barefoot Contessa, her show on the Food Network. One of the things she has become known for is noting “store-bought is fine” if you can’t, or don’t want, to make a particular ingredient from scratch.

Making things from scratch can be hard. Ina understands that, so she gives her viewers the okay to make things easier on themselves.
Read more . . .


Wednesday, November 25, 2020

Debt Collectors Profit During The Pandemic


Americans currently owe more than $14 trillion in consumer debt. Of that, $372 billion is at least 90 days late and considered seriously delinquent.
Read more . . .


Wednesday, September 30, 2020

How Do I Know if I Qualify For Chapter 7 Bankruptcy?


Filing a Chapter 7 bankruptcy in Alabama can give you the debt relief you need to get a fresh start. However, debtors who file under Chapter 7 must meet income requirements to qualify for a bankruptcy discharge. The bankruptcy discharge is an order from the bankruptcy court that releases your liability for certain debts.


Read more . . .


Wednesday, August 19, 2020

New Book Highlights The Housing Bubble In Alabama, Tells Familiar Story


Stop me if you’ve heard this one before. A guy buys a condo on the Gulf Coast because he knows it is a great investment…

I’m going to stop right there because we’ve all heard this one before. Many of us in the Mobile area have even lived this story ourselves. That’s why it is interesting that


Read more . . .


Wednesday, August 5, 2020

Mark Twain’s Path To Bankruptcy


“There are two times in a man’s life when he should not speculate: when he can’t afford it and when he can.” -Mark Twain

This quip from Mark Twain, the pen name of author Samuel L. Clemens, was actually a hard-earned lesson. Although Twain married into a wealthy family, and was one of the most successful writers and lecturers of all time, he made such poor business decisions that he was forced to declare


Read more . . .


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, 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 . . .


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Bankruptcy Law News

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.”