Bankruptcy

If a consumer sees no way of paying debt, bankruptcy in Wetumpka, Alabama, can provide some relief from certain debts. Bankruptcy doesn't often happen because of frivolity, and there are several common reasons a consumer may file a petition for relief. Reasons for...

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...

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...

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...

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...

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...

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...

Business owners in Alabama may be able to file for Chapter 7 or 13 bankruptcy to discharge debts incurred by their companies. In some cases, it may make sense to file for Chapter 11 protection to reorganize corporate debts. When to file for Chapter 7 bankruptcy A...

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...

When you file for bankruptcy in Alabama, you may be concerned about losing your car when your assets are taken away by collectors. Fortunately, local bankruptcy laws typically allow you to keep your vehicle if you file for Chapter 7 bankruptcy and are up to date on...