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
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
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
Reaffirmation, Surrender or Redemption in Chapter 7
Reaffirmation, Surrender or Redemption? One of the decisions that a Chapter 7 debtor must make when filing a bankruptcy case is what to do with property securing a debt. Debtors living in the area covered by the Eleventh Circuit Court of Appeals have one of three options. A Debtor’s options are: Reaffirm the debt owed to the creditor; Surrender the collateral securing the debt owed to the secured creditor; or Redeem the secured collateral for its value on the day of the filing of the
Bankruptcy and the Debtor’s Responsibilities
If you are serious about getting out of debt you have to step up to the plate and take charge. Getting out of debt takes work. Your bankruptcy lawyer cannot do all the work for you. You must be invested in your case if you want to get a fresh start. Providing Documents The first thing you need to do as a Debtor is to provide all the documents your lawyer requests. Trust me: your bankruptcy lawyer is not going to ask you for documents
Should I file a Chapter 7 Bankruptcy Case or a Chapter 13 Bankruptcy Case?
The type of bankruptcy case that you should file is something that can only be decided after a careful review of all of your facts and circumstances. Your bankruptcy lawyer must know about every asset you own and every debt you owe to determine which type of bankruptcy will give you the most benefit. Your bankruptcy attorney must also know how much you earn, how much you spend, whether you have made any recent purchases with credit cards, whether you have been accused of fraud,
What Happens After my Chapter 7 Bankruptcy Case is Filed?
30 Days after filing—The Meeting of Creditors Approximately 30 days after the filing of your Chapter 7 Bankruptcy Case, you will appear before a bankruptcy trustee for your first meeting of creditors. The first meeting of creditors is also called a 341 meeting. At the meeting, the bankruptcy trustee will ask you very basic questions about your assets and debts. Creditors have the right to attend the meeting of creditors, however, few of them do. Keep in mind, however, that a creditor failing to appear
What is the Difference in a Chapter 7 Bankruptcy and a Chapter 13 Bankruptcy?
A common question asked by clients is what is the differences between a Chapter 7 Bankruptcy case and Chapter 13 Bankruptcy case. The simple answer is that a Chapter 7 bankruptcy case is a type of liquidation while a Chapter 13 bankruptcy case is a type of reorganization. There are other differences also. What is a Chapter 7 bankruptcy case? Chapter 7 bankruptcy cases are the shortest cases lasting approximately 4 months. In a Chapter 7 bankruptcy case you must pay your fees and expenses
What expenses do you have to pay to file a Chapter 7 bankruptcy case?
Chapter 7 Bankruptcy Expenses Must Be Paid Before Filing Expense #1 Credit Counseling Must be Completed Before Your Case Can Be Filed Prior to filing your Chapter 7 bankruptcy case, you must pay for credit counseling through a provider approved by the United States Trustee or the Bankruptcy Administrator. The list of approved credit counseling companies can be found on the websites for either the US Trustee or the Bankruptcy Administrator for the district in which you case is filed. The credit counseling must be