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Alabama State Bar Association Regulations require the following: “No representation is made that the quality of the legal services to be performed is greater than the quality of legal services performed by other lawyers.” 11 U.S.C. 528 of the U.S. Bankruptcy Code requires the following: “We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.”
Important Considerations Before You File for Business Bankruptcy
by Padgett & RobertsonYou started your business with hard work and a dream, but perhaps things haven’t worked out quite as you’d hoped. With the economy always in flux and inflation hammering small businesses, a growing number of companies are filing for bankruptcy. If you’re thinking about this option for your business, set aside some time to talk […]
Inflation Driving a Flood of New Bankruptcies
by Padgett & RobertsonInflation is incredibly high, and it’s impossible to ignore. Everywhere you turn, someone has a comment—the news, social media, people you make small talk with. Inflation is just up past 8.5%, putting it at the highest it’s been in 40 years. This sends a ripple through every part of the economy and is expected to […]
What is a Cramdown in Bankruptcy and How Can It Help?
by Padgett & RobertsonBankruptcy can be incredibly stressful, especially once you realize that you may have to give up some of your personal assets in order to pay back creditors. If you are filing for Chapter 13 bankruptcy, you may be able to use something called a cramdown to keep your items and decrease your debt as you […]
What Happens to My Cryptocurrency If I File for Bankruptcy?
by Padgett & RobertsonCryptocurrency has completely changed how many people invest, fund their passion projects, and plan for retirement. However, its decentralized and volatile nature makes it difficult to handle in traditional financial settings. For example, in bankruptcy, debtors have asked how their cryptocurrency holdings may affect their filing. Although cryptocurrency is still relatively new, legislation is evolving […]
The Main Types of Debt and How to Handle Each
by Padgett & RobertsonThe debt you owe plays a big part in your financial well-being and your credit health. However, there are lots of types of debt, and they should all be managed differently. Paying careful attention to your debt and its status can help you keep your credit score high and maintain control of your finances. If […]
Bankruptcy for Married Couples: Should We File Jointly or Separately?
by Padgett & RobertsonIf you’re married and considering bankruptcy, you’re likely confused by your options. Is filing for bankruptcy as an individual or as a married couple your best option? Unfortunately, there is no clear cut-and-dry answer to this question. It depends largely on the details of your assets, income levels, and debt. Consulting with a bankruptcy attorney […]
Can Social Security Overpayments Be Discharged in Bankruptcy?
by Padgett & RobertsonSocial Security benefits are a crucial resource for many people, keeping families in their homes and putting food on the table. But the Social Security Administration does make mistakes, and overpayments happen. When you owe a substantial amount in overpayments, you may wonder if that amount can be discharged in bankruptcy or if you will […]
Is It Possible to Stop Asset Repossession During a Bankruptcy Filing?
by Padhett & RobertsonBy the time most people declare bankruptcy, they’ve been in financial trouble for a long time. What’s the tipping point? For many, it’s the fact that one of their major assets is about to be repossessed. Perhaps their vehicle—their only way to get to work and provide for their family—is about to be repossessed by […]
Things You Should Avoid If You’re Considering Bankruptcy
by Padgett & RobertsonYour bills may have been piling up for months now, and the minimum payments on your credit cards may have crept up to the point that you struggle to make them every month. You’ve put off this decision as long as you can, but it’s time to think about bankruptcy. Bankruptcy is a chance at […]
How to Qualify for a Mortgage After Chapter 7 Bankruptcy
by Padgett & RobertsonWhile bankruptcy can temporarily limit your use of credit and put a pause on your financial goals, it isn’t the be-all, end-all of your financial future. In fact, you may find yourself able to secure a mortgage within just a few years of declaring bankruptcy. However, you will need to do some extra legwork to […]