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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 Debt Settlement Lawyers Can Help You Avoid Bankruptcy
by Padgett & RobertsonFinancial difficulties can be overwhelming, and the prospect of bankruptcy may seem like the only option. However, before taking such a drastic step, it’s crucial to explore all alternatives. One effective way to manage debt without filing for bankruptcy is through debt settlement. A debt settlement lawyer can be instrumental in navigating this complex process, […]
Tillmans Corner, AL Chapter 13 Bankruptcy Lawyers
by Padgett & RobertsonChapter 13 bankruptcy, also known as a “wage earner’s plan,” offers Tillmans Corner residents struggling with overwhelming debt a potential path to financial stability. This form of bankruptcy allows individuals with regular income to keep their property while reorganizing and repaying debts over a 3-5-year period. Unlike Chapter 7, Chapter 13 provides protection from creditors […]
What Assets Do You Lose in Chapter 7 Bankruptcy in Alabama?
by Padgett & RobertsonFacing financial turmoil? Chapter 7 bankruptcy can offer a fresh start but comes with significant implications for your assets. In this “liquidation bankruptcy,” you ask the court to discharge most debts in exchange for surrendering certain assets, which a trustee will liquidate to pay creditors. However, Alabama law provides exemptions that allow you to keep […]
The Benefits of Debt Consolidation: Is It the Right Choice for You?
by Padgett & RobertsonManaging multiple debts can be overwhelming and financially draining. Debt consolidation offers a solution by combining various debts into a single, manageable payment. This blog will explore the benefits of debt consolidation, helping you determine if it’s the right choice for your financial situation. Understanding Debt Consolidation Debt consolidation involves taking out a new loan […]
Step-by-Step Guide to Filing Chapter 7 Bankruptcy
by Padgett & RobertsonFiling for Chapter 7 Bankruptcy can be a daunting process, but it can also provide a fresh financial start for those struggling with overwhelming debt. This guide aims to walk you through each step of the process, ensuring you understand what to expect and how to prepare. At Padgett & Robertson, we are here to […]
What is Zombie Debt and How Do You Deal with It?
by Padgett & RobertsonIf you’re a resident of Mobile, Alabama, you may have heard the term “zombie debt” and wondered what it means. Zombie debt refers to old or expired debt that has been “raised from the dead”. This debt resurfaces unexpectedly, often years after you thought it was resolved. This could be debt you genuinely forgot about, […]
Important Things to Know About Addictions and Bankruptcy in Mobile, AL
by Padgett & RobertsonAddiction, whether to substances or compulsive behaviors, can have a profound and far-reaching impact on an individual’s life, including a person’s financial stability. In Mobile, AL, many residents grapple with the overwhelming debt that often accompanies addiction, as the cost of maintaining the addiction, coupled with lost wages, legal fees, and medical expenses, can quickly […]
What are the Rules around Receiving Gifts before Filing for Bankruptcy in Mobile, AL?
by Padgett & RobertsonFacing overwhelming debt can be an incredibly stressful and isolating experience. When bills pile up and financial obligations become unmanageable, many individuals turn to bankruptcy as a means of obtaining a much-needed fresh start. By filing for bankruptcy, you can discharge some or all of your debts, providing relief from the constant pressure of creditors […]
What is a Bankruptcy Conversion and When Do They Happen in Alabama?
by Padgett & RobertsonDealing with mounting debt while facing financial hardship can leave anyone feeling scared and overwhelmed. When solutions like debt consolidation loans or credit counseling no longer provide relief, bankruptcy often emerges as a last resort for Alabamians seeking a fresh start. However, even after beginning the bankruptcy process, changing life circumstances can alter your situation […]
Steps to Remove Collections From Your Credit Report
by Padgett & RobertsonWhen you decide to improve your credit, having accounts in collections is a huge setback. They can tank your credit score, make other lenders and landlords avoid doing business with you, and stay on your report for seven years. Getting collections off of your credit report can lead to a significant increase in your score—but […]