When people file for bankruptcy, they are often able to keep their home. Under most bankruptcy laws, people can protect at least one home worth up to a certain dollar amount.
However, if an individual or family owns more than one home, they may not be able to keep the second or third home. The stipulations for bankruptcy protection often depends on state laws.
If you are considering filing for bankruptcy, contact the Birmingham bankruptcy lawyer Paula Greenway at 205-324-4000.
According to federal data, Chapter 7 bankruptcies have risen by more than 40 percent since 2007. This significant rise is likely caused by a number of factors.
For instance, the recent economic crisis has led to lower incomes for many people. With these lower incomes, some people have struggled to make debt payments. Unable to cover these obligations, many people have been forced into Chapter 7 filings.
If you or anyone you know is considering filing for Chapter 7, contact the Birmingham Chapter 7 bankruptcy lawyer Paula Greenway at 205-324-4000.
Filing for divorce is a difficult process for most couples. When divorce occurs at the same time as a bankruptcy filing, the process can seem almost impossible.
However, there a number of strategies to make the process easier. First, couples should consider file for joint bankruptcy before getting a divorce. The joint bankruptcy often has many advantages over separate bankruptcy filings.
Also, filing for bankruptcy before a divorce can facilitate the terms of alimony and child support.
If you or anyone you know has filed for bankruptcy, contact the Birmingham bankruptcy lawyer Paula Greenway at 205-324-4000.
A deal between U.S. regulators and J.P. Morgan Securities was meant to settle the case over Jefferson County. However, according to experts, the deal will probably not save the county from bankruptcy.
The county has been unable to make sufficient revenue to pay off creditors. The deal will net about $50 million to the county, but that will probably not be enough to offset the nearly $4 billion debt cost.
If your company is considering filing for bankruptcy, contact the Birmingham Chapter 11 bankruptcy lawyers of Paula Greenway at 205-324-4000.
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