Couples in Alabama who are going through a divorce will have to address how to divide their property. They have the option of doing it themselves and getting the settlement approved by the court or leaving the decision up to a judge. Dividing property: marital and...
Overcoming Personal and Legal Challenges
Overcoming Personal and Legal Challenges
Year: 2021
Is it possible to put a hold on Chapter 13 payments?
Chapter 13 bankruptcy attempts to provide a solution for both the debtor and the creditors. An Alabama resident who seeks bankruptcy protection under this chapter must follow a repayment plan to creditors. The debtor must make timely payments for the established...
How bankruptcy might impact your credit score
There is a good chance that filing for bankruptcy will have an impact on your credit score. However, it's possible that your score will actually increase after your debts are discharged by an Alabama judge. This will depend on what your credit score was before you...
How bankruptcy can impact estate planning
Most people who start thinking about estate planning in Alabama do so because they want to provide for their family. However, many people fail to plan for all of the ways that other parties can drain their estate assets. A bankrupt beneficiary could be a money pit...
Cryptocurrency adds new wrinkles to a divorce
A growing number of people in Alabama are exploring the world of cryptocurrency investments, joining over 20 million people across the country with some form of crypto holdings. However, as more people buy bitcoin, ethereum, and other cryptocurrencies, they have also...
What is debtor in possession in Chapter 11 bankruptcy?
A business owner in Wetumpka, Alabama, can choose several types of bankruptcy to relieve debt when they don't see an out. If the debtor files Chapter 7, they will likely have to close their business. However, Chapter 11 has something unique called a debtor in...
What is the bankruptcy means test?
When individuals in Alabama become overwhelmed with debt, they often consider filing for bankruptcy. Many debtors file Chapter 7 bankruptcy, which is a liquidation of assets to pay creditors. Debts get discharged faster, but the filer must pass a means test. The...
What’s discussed during the initial divorce consultation?
Before divorce proceedings can start, you will first need to meet with a lawyer for an initial consultation. There are all sorts of things discussed during this time, and you will probably do most of the talking as the lawyer needs all of this information to represent...
Bankruptcy’s automatic stay
An automatic stay in bankruptcy is a law that temporarily halts creditors, government entities and debt collectors from pursuing debtors. In Alabama, the automatic stay is effective once the debtor files for bankruptcy. Moreover, this law is applicable to both...
Exemptions in Alabama bankruptcy
When debtors in Wetumpka, Alabama, file for bankruptcy, they may have to sell their personal assets depending on the type of bankruptcy. Exemptions help a debtor exclude assets that they would otherwise have to include in petitions. Exemptions are important in Chapter...