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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 Soon Can You Apply for Credit after Filing Chapter 7 Bankruptcy?
by Padgett & RobertsonFiling for Chapter 7 bankruptcy in Mobile, AL can significantly impact your credit, but rebuilding is possible with time and effort. A Chapter 7 bankruptcy remains on your credit report for 10 years from the filing date. However, you can start rebuilding your credit immediately after filing by making timely payments on existing debts, applying […]
Debt Consolidation vs. Debt Settlement: Which Is More Effective?
by Padgett & RobertsonDebt can be overwhelming and stressful, but there are solutions to help you regain control of your financial situation. Two common strategies for managing and reducing debt are debt consolidation and debt settlement. While both approaches aim to make debt more manageable, they work in different ways and offer distinct advantages and disadvantages. In this […]
7 Common Bankruptcy Myths: Debunking Misconceptions
by Padgett & RobertsonBankruptcy can be a complicated and often misunderstood topic. Many people face financial struggles but hesitate to file for bankruptcy due to Bankruptcy Myths that have circulated for years. These misconceptions can prevent individuals from seeking the help they need. In this article, we’ll address and debunk common myths surrounding bankruptcy to offer clarity and […]
How Bankruptcy Affects Your Credit Score and How to Rebuild It
by Padgett & RobertsonFiling for bankruptcy can be a life-changing decision that impacts your financial future. One of the most immediate effects of bankruptcy is its impact on your credit score. Understanding how bankruptcy affects your credit score and learning how to rebuild it are crucial steps in regaining financial stability. This comprehensive guide will provide insights into […]
Life After Bankruptcy: Rebuilding Credit and Financial Future
by Padgett & RobertsonFiling for bankruptcy can be a daunting experience, but it’s important to remember that it also offers a fresh start. While the road to financial recovery may seem overwhelming, with the right strategies and determination, you can rebuild your credit and secure a stable financial future. At Padgett & Robertson, we understand the challenges you […]
What Happens if You Omit a Creditor in a Chapter 13 Bankruptcy in Alabama?
by Padgett & RobertsonFor Alabama residents struggling with overwhelming debt, Chapter 13 bankruptcy can provide a path to financial stability. This form of bankruptcy allows individuals with regular income to reorganize their debts and develop a manageable repayment plan over three to five years. However, navigating the Chapter 13 process requires honesty and accuracy. Omitting creditors from your […]
How to Prepare for a Successful Chapter 13 Bankruptcy Filing
by Padgett & RobertsonFiling for Chapter 13 bankruptcy can be a complex and stressful process, but with proper preparation, you can navigate it successfully. This type of bankruptcy allows you to keep your property while reorganizing your debts into a manageable repayment plan. Here’s a comprehensive guide to help you prepare for a successful Chapter 13 bankruptcy filing […]
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 […]