Overcoming Personal and Legal Challenges

Overcoming Personal and Legal Challenges

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Bankruptcy

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...

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...

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...

Non-exempt assets in bankruptcy

Alabama residents who are unable to pay their debts might hesitate to seek protection through Chapter 7 bankruptcy because of a fear that they will lose everything they own. However, people who file for bankruptcy can choose between the state or federal bankruptcy...