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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.”
How Long Will A Bankruptcy Stay On My Credit Report?
/0 Comments/in bankruptcy /by Padgett & RobertsonWe talk about bankruptcies as a way to get a fresh start. You can wipe the slate clean and begin all over again. For the most part this is true, but there is one long-term impact of bankruptcy you should be aware of. Filing for bankruptcy will negatively impact your credit score, and that negative impact […]
Seller Beware: Just Because The Market Is Hot Doesn’t Mean Bankruptcy Filers Should Sell Their Property
/0 Comments/in bankruptcy /by Padgett & RobertsonThe real estate market in Alabama is hot right now. Tight inventory and low-interest rates make it a seller’s market. While it may be tempting to sell off any property you have in order to take advantage of the good prices sellers are getting, anyone who has recently filed for bankruptcy or is considering filing, […]
A Meeting Of Creditors
/0 Comments/in bankruptcy /by Padgett & RobertsonA group of bees is called a swarm. A group of rhinoceroses is called a crash. A group of hyenas is called a cackle. We’re not sure if there is an official term for a group of creditors, but we suggest “a headache.” In all seriousness, getting a filer’s creditors together is part of every bankruptcy […]
Are Student Loans Dischargeable in Bankruptcy?
/0 Comments/in bankruptcy /by Padgett & RobertsonIn 2020, student loan debt across the United States hit a whopping $1.56 trillion. Yes, trillion. This 1.56 trillion-dollar burden is borne by 45 million Americans. The only consumer debt category higher than student loans is mortgages. Credit card and automotive debt are dwarfed by student loan debt. The class of 2018 graduated with an […]
5 Possible Alternatives to Foreclosure on Your House
/0 Comments/in bankruptcy /by Padgett & RobertsonBeing delinquent on your mortgage is a scary time. You’re faced with potentially losing your home at a time when stability is what you need. In 2008, U.S. mortgage foreclosures spiked as a result of overextended lending and poor credit standards. Currently, millions of Americans are struggling to make their mortgage payments due to the […]
Bankruptcy Is Not A Moral Failure
/0 Comments/in bankruptcy /by Padgett & RobertsonWhen P.T. Barnum, the king of curiosities and co-founder of the self-proclaimed “Greatest Show on Earth,” went bankrupt, Ralph Waldo Emerson wrote that it showed the gods to be “visible again.” Emerson and many others were pleased that Barnum was in financial trouble because they disapproved of his money-making tactics. Emerson’s attempt to tie Barnum’s […]
Bankruptcy Exemptions Ensure You Don’t Have To Start From Scratch
/0 Comments/in Uncategorized /by Padgett & RobertsonIna Garten is one of the most popular celebrity chefs in America. People love her recipes, and her positive attitude, which is on full display on Barefoot Contessa, her show on the Food Network. One of the things she has become known for is noting “store-bought is fine” if you can’t, or don’t want, to […]
Understanding Your Credit Score
/0 Comments/in Uncategorized /by Padgett & RobertsonCredit scores underlie most major financial decisions including buying a home, a car, and even switching jobs – in some industries, a poor credit score can limit your employment. At Padgett & Robertson, we work with individuals and families in Mobile and the surrounding areas to repair their credit scores, contest wrongful credit reporting, and […]
The Fair Debt Collection Practices Act
/0 Comments/in Uncategorized /by Padgett & RobertsonDue to COVID-19, many Americans have found themselves unable to work due to no fault of their own. Despite the circumstances out of their control, debt continues to build and come due. Credit card debts, car loan repayments, and a litany of other debts are front and center for many Americans suffering the economic impacts […]
Debt Collectors Profit During The Pandemic
/0 Comments/in Uncategorized /by Padgett & RobertsonAmericans currently owe more than $14 trillion in consumer debt. Of that, $372 billion is at least 90 days late and considered seriously delinquent. Those numbers are likely to increase as the COVID-19 pandemic persists, and debt collectors are overjoyed. At Padgett & Robertson, we are concerned what this will mean for people here in the Mobile […]