D is for Divorce – Issues to Consider before filing Bankruptcy and Divorce Bankruptcy and Divorce are very closely related; experiencing one often leads to the other. Sometimes, financial problems that are bad enough to lead to the filing of a Bankruptcy case can also result in the parties seeking a Divorce. Alternatively, when parties decide that their marriage is over, a Divorce can lead to the need to file a bankruptcy case on the part of one, or the other or both. Things to
C is for Child Support
C is for Child Support – a special status in Bankruptcy. In an effort to help in the enforcement of child support orders, the Bankruptcy Code gives priority status to unpaid child support. Priority Debts are generally non-dischargeable in bankruptcy, so a person who owes a priority debt will not be granted a discharge as to that debt under the Court’s discharge order. Keeping Current on Child Support is Mandatory. In the bankruptcy legislation that took effect in October of 2005, Child Support was given
Bankruptcy Lawyers to Avoid
Bankruptcy Lawyers to Avoid Bankruptcy Mills – Welcome to Cattle Call! Bankruptcy Mills are firms that file large numbers of bankruptcy cases by using their staff to do most of the work. Attorneys spend very little time, if any, with the clients. Going to a Bankruptcy Mill is like cattle call. Don’t kid yourself—you are the cow. You are there to make them money. Your case is just as plain and ordinary as the next “cow” in the waiting room. Your facts will be made to
Cheap Bankruptcy Lawyer
Bankruptcy Fees and Price Shopping Let’s assume you have a brain tumor. You need to find the best surgeon to perform a life saving operation. What is your first step? Do you pick up the phone and call all the brain surgeons in town and ask what they charge for an operation like yours? Can you imagine what kind of answer you would get if you made that call? But hey, if you feel comfortable hiring the person who is going to save your life
B is for Bifurcate
B is for Bifurcate, which is a complicated word for a simple process. When you bifurcate a claim, you split it into a secured portion and an unsecured portion. Unsecured creditors in Chapter 13 are not paid interest. By bifurcating a claim, you can substantially reduce the amount you have to pay for certain items. Here is an Example of Claim Bifurcation Let’s look at an example. You are filing a chapter 13 case. You purchased a vehicle and financed it more than 910 days
The ABC’s of Bankruptcy – A is for Address
A is for Address – The Importance of Correct Addresses One of the most important things you should do as a debtor is provide your Tuscaloosa and Birmingham Bankruptcy lawyer a correspondence address for each of your creditors. The address is usually found on your statement. It is different from the payment address (the address to which you send your monthly payment). Understanding the difference in the two addresses is critical to your receipt of a bankruptcy discharge. Notices sent to a payment address will
Saving Your Car with A Chapter 13 Bankruptcy
Saving Your Car with A Chapter 13 Bankruptcy – In Order to Do So, You Must File Chapter 13 BEFORE Your Car is Repossessed In the 11th Circuit Court of Appeals case of Lewis v. Charles R. Hall Motors, Inc. (In re Lewis), 137 F.3d 1280, 1282 (11th Cir.1998), the Appeals Court determined that Alabama Debtors cannot compel the return of a car that was repossessed prior to the filing of their bankruptcy case. Occasionally, a creditor will agree to give the car back but
How to Stop a Foreclosure with a Chapter 13 Bankruptcy Case
How to Stop a Foreclosure with a Chapter 13 Bankruptcy Case Are you behind on your mortgage? Is your lien holder threatening to foreclose on your home? If you are facing Foreclosure, an Experienced Birmingham or Tuscaloosa Bankruptcy Lawyer Can Help! Many people get behind on their mortgage because of lost earnings, illness, or other circumstances that are sometimes beyond their control. When their financial situation improves, they find themselves fighting to save their home while the mortgage company demands thousands of dollars, in a
Lien Stripping in Chapter 13
Lien Stripping in Chapter 13 – Can it be done? What is Lien Stripping? Lien stripping is the process used to split (bifurcate) a secured claim into two parts. The first part of the claim is secured to the extent of the value of the property. The second part of the claim is treated as unsecured since there is no value to which the claim can attach. The statutory authority for splitting a claim into a secured and an unsecured portion is found in 11
20 Benefits of Filing A Chapter 13 Bankruptcy Case
Chapter 13 Bankruptcy cases are sometimes called “Wage Earner’s Plans” or “Debtor’s Court.” In Chapter 13 you are given a chance to repay some, or all, of the debt you owe. If you pay less than 100% of your unsecured debt, your case is known as a “composition case.” Such cases are also sometimes called “percentage cases.” Chapter 13 bankruptcy cases offer debtors unique opportunities to restructure their finances. Below are 20 benefits of filing a Chapter 13 Bankruptcy case: 1. You can file Chapter