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Bankruptcy

Tuesday, April 27, 2021

Bankruptcies Decrease Despite Economic Downturn


Many people assumed that the financial downturn caused by the COVID-19 pandemic would force a lot of people into bankruptcy. However, statistics released by the Administrative Office of the U.S.
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Friday, April 23, 2021

How Long Will A Bankruptcy Stay On My Credit Report?


We talk about bankruptcies as a way to get a fresh start. You can wipe the slate clean and begin all over again. For the most part this is true, but there is one long-term impact of bankruptcy you should be aware of.
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Wednesday, March 17, 2021

Seller Beware: Just Because The Market Is Hot Doesn’t Mean Bankruptcy Filers Should Sell Their Property


The real estate market in Alabama is hot right now. Tight inventory and low-interest rates make it a seller’s market.
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Wednesday, March 3, 2021

A Meeting Of Creditors


A group of bees is called a swarm. A group of rhinoceroses is called a crash. A group of hyenas is called a cackle. We’re not sure if there is an official term for a group of creditors, but we suggest “a headache.”

In all seriousness, getting a filer’s creditors together is part of every Read more . . .


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.
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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.
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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.
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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.


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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


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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


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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 . . .


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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.”