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Considering Bankruptcy in Alabama?
Are you being crushed by credit card debt, mortgage debt and other forms of debt? Have you started borrowing money to pay other creditors? Are you falling behind on your bills and getting phone calls from collection agencies? Are you being threatened with foreclosure?
If you cannot afford to pay your debts, you may have a legal right to relief. Don't put yourself in an increasingly worse position over time as you scramble to manage debts that have become unmanageable. Consult an experienced bankruptcy lawyer with offices in Birmingham and Tuscaloosa, Alabama.
Understanding Your Chapter 7 & 13 Bankruptcy Options
The overwhelming majority of personal bankruptcies in Birmingham and Tuscaloosa, Alabama, and across the country are filed under Chapters 7 and 13 of the federal Bankruptcy Code. Under both chapters, filing for bankruptcy will immediately stop creditor harassment and collection efforts against you.
Chapter 7 bankruptcy, also known as liquidation bankruptcy, erases most forms of unsecured debt, such as credit card debt. In the majority of Chapter 7 cases, debtors are able to keep their homes and cars and continue paying for them. Few Chapter 7 cases result in the loss of assets. Our attorneys can help you understand the consequences of Chapter 7 bankruptcy so you can decide whether it is right for you.
Under recent changes to the Bankruptcy Code, not everyone is eligible to file for Chapter 7 bankruptcy. Our lawyers understand the new law and will assess your situation to determine your eligibility.
Chapter 13 bankruptcy is also known as "debtor's court" or a reorganization bankruptcy. Under this form of bankruptcy, you will partially repay your debts over the course of three to five years by making a fixed monthly payment to a bankruptcy trustee, who will distribute the money to your creditors.
If you complete the payment plan successfully, your remaining eligible debts will be cancelled. Chapter 13 may be the best approach if you need to stop foreclosure on a home or other property. If you are eligible to file under both chapters, our attorneys will sort out the differences and explain your options.
Bankruptcy vs. Debt Consolidation and Management
Bankruptcy is not for everyone. Some people may be able to resolve their debt problems efficiently and preserve their credit using alternative programs such as debt consolidation, credit counseling or other debt management options.
However, you should be aware of all of your options before pursuing any one of them. Debt management can be much more expensive than bankruptcy, depending on your individual circumstances. Also, many people have horror stories about debt management companies, and many of these companies have been investigated and/or sued by the Federal Trade Commission.
Our Birmingham and Tuscaloosa, Alabama, Chapter 7 and 13 bankruptcy attorneys are skilled professionals who are here to help you and who are bound by a strict code of professional responsibility. We will examine your individual circumstances and make sure you are aware of all of your options.
Free Consultations for Alabamians in Debt
If you are considering bankruptcy, our attorneys offer free initial consultations at our offices in Birmingham and Tuscaloosa. When you come to us to consult about your financial concerns, you are under no obligation to file for bankruptcy or to hire us.
Stop garnishments, tax levies, lawsuits, foreclosure, repossession and other forms of creditor harassment. Contact us today.
Dionne & Dionne
6726 Old Greensboro Road, Suite A
Tuscaloosa, AL 35405-5979
Phone: (205) 349-5911
Inside 205 Area Code Toll Free: 1-800-BANKRUPT (1-800-226-5787)
Nationwide Toll Free: 1-888-263-1525
Fax: (205) 409-0294
E-mail