Category: Bankruptcy

Health care is expensive, even for Alabama patients who have health insurance. The costs associated with a hospital stay, unexpected illness or emergency room visit can be astronomical, and the bills can just keep adding up. It’s common for medical bills to quickly wipe out savings and outpace someone’s ability to make payments or pay… Continue reading Effective ways to deal with debt associated with medical bills

Many consumers who find themselves struggling with serious levels of debt that they cannot repay may consider filing for bankruptcy but feel scared about doing so. One reason some people fear bankruptcy is the belief that they may never buy a home or get credit again. Actually, filing for Chapter 7 or Chapter 13 bankruptcy… Continue reading Rebounding after bankruptcy to buy a home

As the extended July 15 tax deadline approaches, you may wonder how you can afford to pay your taxes this year. When you owe more than expected, the IRS does provide options so you can spread out your debt over time. Consider these strategies to cope with unpaid tax debt. Payment extension First, you should… Continue reading Options when you owe the IRS

First comes love, then comes marriage, then comes debt … At least, for many people it works that way. Money-related conflicts are the number one reason for divorce, so it comes as no surprise that many people who want to file for divorce also need to file for bankruptcy. But, which should come first?  According… Continue reading Bankruptcy or divorce: Which should come first?

When residents in Alabama fall into debt, what can you do? There are some options to look into when it comes to debt relief. One of these options is bankruptcy. Of the types of bankruptcy, Chapter 13 and Chapter 7 are most relevant to the average person. Today we will look at Chapter 13. In… Continue reading Obligations debtors have with Chapter 13 bankruptcy

When you decide to seek bankruptcy protection, there are certain responsibilities for you to fulfill.  Whether you file Chapter 7 or Chapter 13, one of those responsibilities is to attend the 341 Meeting.  What this is  The 341 Meeting derives its name from Section 341 of the United States Bankruptcy Code, a section that sets… Continue reading The 341 Meeting: A key milestone in your bankruptcy journey

Making the decision to file bankruptcy is a big first step in regaining control of your financial outlook. However, there are several myths that surround the bankruptcy process and it is important to differentiate fact from fiction.  Chapter 7 bankruptcy is commonly known as a liquidation bankruptcy. This means that the courts will liquidate your property… Continue reading Will I lose my house if I file Chapter 7?

As Americans and Alabama residents navigate a complicated economy with concerns of student loans, medical bills and health insurance, bankruptcy is always a hot topic. The truth is that bankruptcy is not always about being irresponsible with your money. There are circumstances outside your control that can often cause debt to snowball to a point… Continue reading What is the most common cause of debt that leads to bankruptcy

The decision for fil for bankruptcy is often a complex one. Along with deciding whether it is the right option for you, you will also need to determine whether you are considered eligible for a chapter 7 filing. The following are a few eligibility factors to keep in mind if you are mulling over your debt… Continue reading Am I eligible for chapter 7?

If you need a car to drive to work every day, you know how stressful not having enough money can be. After all, car payments can be tremendously expensive. Leases are sometimes a good option for using a car without having to make such high payments. If you are thinking about filing for Chapter 7… Continue reading How Chapter 7 bankruptcy may affect your car lease