ClickCease
Share

Bankruptcy

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.



Read more . . .


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.


Read more . . .


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.


Read more . . .


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.

A


Read more . . .


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 . . .


Monday, November 21, 2016

Why do credit card applications get rejected? It's not the reasons you think.


How can you rebuild your credit after bankruptcy?

People often wonder, “what’s next” after filing for bankruptcy. It’s a valid question after hitting that financial reset button. The short answer is: rebuild.


Read more . . .


Sunday, July 31, 2016

Don’t Try This at Home


A bizarre bankruptcy case from up near Birmingham has created a new rule: if you crash your car while drunk driving, your car loan can be forgiven when you file for bankruptcy.

Before we explain any further, let us be clear, drunk driving is not something we are encouraging. This is just a weird case that we thought it would be interesting to share.

Debt Dismissed Because Driver Was Drunk

The facts of the case are kind of sad. The guy in the case has been diagnosed with depression, and admits he became an alcoholic after suffering an injury that resulted in an honorable discharge from the military.


Read more . . .


Tuesday, June 28, 2016

What Does That Really Mean? Common Bankruptcy Terms Explained


What Does That Really Mean? Common Bankruptcy Terms Explained 

When the attorneys at our firm talk with someone who is thinking about filing bankruptcy, or someone who is already going through the bankruptcy process, we try to talk like normal humans rather than the legal mutants we are.


Read more . . .


Thursday, June 23, 2016

Beware of Payday Lenders


What is the government doing to rein in payday lenders?

The Consumer Finance Protection Bureau recently proposed new rules aimed at bringing payday lenders and other short-term credit providers under federal jurisdiction. Consumers who are strapped for money often use these lenders as a short-term fix, but invariably wind up with long-term problems and falling into debt traps. While these lenders are currently regulated by the states, borrowers are often the target of lending abuses.

"Too many borrowers seeking a short-term cash fix are saddled with loans they cannot afford and sink into long-term debt," said CFPB Director Richard Cordray.

What are Payday Loans?

Payday loans are small, short-term loans of about $350 that are supposed to be repaid when a consumer gets his or her paycheck.


Read more . . .


Tuesday, May 31, 2016

The Affect of Loans on Credit Ratings


How do loans affect your credit rating?

In understanding how your loans affect your credit rating, it is important to grasp the differences among various types of debt. Almost everyone in our society lives with some debt. Typically, even very wealthy people purposely carry some debt because they understand the value of being creditworthy and the financial advantages of paying off some things over a prolonged period of time. The rest of us usually become aware early in our lives that our credit rating will affect us when we attempt to make significant purchases, such as a car or a home, and that it is in our own best interests to maintain a good credit score.             

Types of Debt

Debt is characterized into two primary types: secured and unsecured.


Read more . . .


Monday, May 16, 2016

How to Stop a Wage Garnishment


Does filing Chapter 7 bankruptcy stop a wage garnishment?

Many individuals who find themselves unable to pay their debts face the potential of having their wages garnished. A wage garnishment is a court order directing an employer to withhold part of an employee's earnings and pay it directly to a creditor until the debt is paid off.

In Alabama, most creditors need to obtain a court judgment stating that you owe them money in order to obtain a wage garnishment. Moreover, if you lose a lawsuit and a money judgment is entered against you, the party that prevailed in the lawsuit can also garnish your wages. Your wages can be garnished without a judgment, however, for unpaid income taxes, court ordered child support, support arrearages, and defaulted student loans.


Read more . . .


Archived Posts

2019
2018
2017
2016
2015



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.”



© 2019 Padgett & Robertson
4317 Downtowner Loop N., Mobile, AL 36609
| Phone: 251-342-0264

Personal Bankruptcy | The New Bankruptcy Law | Testimonials | About Our Firm | Bankruptcy | Client Resources | Getting Started

Facebook

Attorney Website Design by
Zola Creative


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.”