Posted on February 23rd, 2010
Some individuals who file for bankruptcy are behind on their alimony and child support payments, along with their debts. While bankruptcy can get rid of some or all of their debts, it cannot erase alimony and child support payments.
This means that filers cannot get out of paying for past or future alimony and support payments. However, because filers can get out of debt payments, they will have more available funds to cover their alimony and child support payments.
If you or anyone you know is considering filing for bankruptcy, contact the Birmingham bankruptcy attorney Paula Greenway at 205-324-4000.
Posted on February 18th, 2010
When individuals file for bankruptcy, they do not necessarily go to multiple court hearings. However, they are often required to attend one hearing, which is commonly known as a 341 meetings.
At this meeting, bankruptcy filers will meet with their bankruptcy trustees and any creditor that chooses to attend. If creditors choose to file a motion as result of this meeting, then filers may be forced to attend a bankruptcy hearing.
If you or anyone you know is considering filing for personal bankruptcy, contact the Birmingham personal bankruptcy attorney Paula Greenway at 205-324-4000.
Posted on February 11th, 2010
Members of corporate boards are often conflicted during company bankruptcies. While they often focus on increasing shareholder value during normal times, they are required to pay off creditors and adhere to bankruptcy law during a bankruptcy process.
This change in focus is often criticized because shareholders complain that their best interests are not considered. However, filing for bankruptcy can often help return value to an insolvent company, which in the long run increases shareholder value.
If you have questions about your company’s bankruptcy filing, contact the Birmingham bankruptcy attorney Paula Greenway at 205-324-4000.
Posted on February 4th, 2010
When individuals file for bankruptcy, they often have many concerns about their finances, families, and jobs. Some individuals believe that if their employers find out about their financial situation, they may fire them.
However, according to U.S.C. Sec 525, employers cannot fire employees for this reason because they cannot discriminate against employees who file for bankruptcy. This protection affords bankruptcy filers with the security that their jobs will not be in jeopardy.
If you are considering filing for personal bankruptcy, contact the Birmingham personal bankruptcy lawyer Paula Greenway at 205-324-4000.
