Sunday, August 20, 2017

What is Normal?

One of the questions a lot of our clients ask is whether their particular situation is normal. Our response is almost always yes. Most people coming to us are

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Monday, July 31, 2017

Medical Debt Is One Of The Biggest Drivers Of Bankruptcy

One of the scariest things about having a medical emergency or lingering illness is the pile of bills that comes along with it. Just when you need to focus your energy on healing, your attention is drawn to the ever-increasing stack of bills the mailman has dropped off. 

Even if you have insurance, out-of-pocket medical costs can accumulate quickly. A recent article in the Atlantic Monthly reported that “half of all insurance policy-holders faced a deductible, the amount people need to pay on their own before their insurance kicks in, of at least $1,000. For people who buy their insurance via one of the Affordable Care Act’s exchanges, that figure will be higher still: Almost 90 percent have deductibles of $1,300 for an individual or $2,600 for a family.

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Friday, July 28, 2017

As American As Apple Pie

What do bankruptcy and apple pie have in common? They were both invented elsewhere but popularized in America. Apple pie was brought over from Europe, along with the apples necessary to make it, but has since become a cultural icon. Bankruptcy has roots that stretch as far back as the Biblical era, but was not popularized until America’s Founding Fathers were brave enough to experiment with it.

At the time of our nation’s founding, few other countries allowed debtors to file for bankruptcy. Those who could not pay their debts were more likely to be imprisoned or sold into slavery than given debt relief.

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Tuesday, June 27, 2017

How to Check Your Credit Score for Free. For Real.

A few years ago you couldn’t turn on the TV without getting the annoying “F-R-E-E that spells free. Credit report dot com baby.” jingle stuck in your head. The ads certainly raised awareness about the federal law that allows everyone to see a copy of their credit report for free each year, but the company behind the ads was also charging people who logged on to their site a subscription fee.

The company got into a bit of trouble for their bait and switch tactics, and now it is more transparent about what it is doing, but thankfully free credit report dot com is not the only way to get a copy of your credit score.

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Saturday, June 24, 2017

Not the Good Kind of Garnish

During Season 14 of The Simpsons, there is an episode called “Barting Over” where Bart petitions a court for emancipation after learning that his parents made a bunch of money by putting him in embarrassing commercials when he was a baby. Money which Homer was supposed to invest, but actually spent.   

The following

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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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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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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.”