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It can actually be the start of something good.
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Your attorney should be as well.

Sports mogul Steve Donner bankrupt

Posted on July 17th, 2014 No Comments

Former owner of the Amerks and Knighthawks, Steve Donner filed for bankruptcy in Florida, the Democrat & Chronicle stated on July 3.

The 57-year-old sports mogul and his wife reportedly filed for Chapter 7 bankruptcy last May. Donner, who had an outstanding debt of $9.5 million, listed his two vehicles as his remaining assets of an estimated amount of $17,000. The bulk of Donner’s debt was a loan worth $8.5 million acquired from NBT Bank to finance the construction of Sahlen’s soccer stadium. Currently Steve and his spouse Lynne have listed a monthly income of $4,000. Aside from being a project manager for the Daytona Ice Arena, Donner stated recently that he works with a meat packaging firm.

Facing overwhelming debts can be frightening and make you feel helpless. However, a lawyer may offer you legal options to help you recover from your debts. Find out how the Birmingham-based lawyers at Greenway Law, LLC., may work for you today by calling (205) 324-4000.

Proposal to ease students’ debt burden

Posted on July 1st, 2014 No Comments

In legislation recently proposed by a senator, students who took out private loans may have them discharged in bankruptcy cases, an article by the Huffington Post stated on June 25.

In the Higher Education Affordability Act introduced by Senator Tom Harkin (D-Iowa), the option was proposed for struggling borrowers of private student loans to have their debts discharged through bankruptcy, as federal student loans can be. Individuals who borrow funds from private lenders struggle to settle their debts due to higher interest rates than loans from the government. A report by the Wall Street Journal said an estimated 15 percent of the total education debt was from individuals who borrowed from the private sector.

The attorneys of Greenway Law, LLC., know that many Birmingham individuals are struggling to repay their student loans. If you are in such a situation, we may possibly offer you legal solutions to solve your debt problems. Discuss your situation with us today by calling (205) 324-4000, and find out how we may help you.

U.S. foreclosure activity steadily decreased in the last 8 years

Posted on June 18th, 2014 No Comments

A recent report by real estate firm RealtyTrac stated that there has been a steady decline in foreclosure activity in the last eight years, CNBC reported on June 10.

Reports said that in May, banks acquired fewer homes and property owners filed for fewer foreclosures than in the past eight years. At least 109,824 homes nationwide were recorded in foreclosure procedures in May, a decline of 6 percent from April. Nationwide, records showed that banks only acquired 28,373 homes in May, and at least 47,085 homes were auctioned–both numbers the lowest since 2007. RealtyTrac Vice President Daren Blomquist is optimistic that the foreclosure rate will continue to decline.

Unfortunately, the lawyers at Greenway Law, LLC., understand that in Birmingham alone, many homeowners are still plagued by foreclosure crisis. If you are in a situation like this, other legal options may be available to you to protect your home. Speak with us today at (205) 324-4000 to learn more about your options.

University athletes also burdened by student debt

Posted on June 11th, 2014 No Comments

College students in the U.S. who represent their schools through sports are also burdened by student debt after school is over, a Forbes article stated on June 3.

Though some college jocks are privileged enough to be rewarded with complete or partial scholarship funding, many still take out loans to cover additional living expenditures. There are many student athletes from economically-challenged backgrounds who must borrow funds to cover school and living costs. College athletes who are not covered by scholarship benefits are no different from any other college student who suffer massive debt repayment after they graduate.

The burden of student debt after graduating is significant, especially because well-paying jobs are not always available to inexperienced graduates. If you are struggling with debt in Birmingham, the lawyers of Greenway Law, LLC., may offer you other solutions to solve your debt problems. Call (205) 324-4000 to find out how we may help you.

Foreclosure activity across U.S. continues to drop

Posted on May 30th, 2014 No Comments

Fortunately, the U.S. housing industry observed a 1% decrease in foreclosure rates for the month of April, Reuters reported on May 15.

Foreclosure activity including bank repossessions, foreclosure notices, and auctions is overall 20% lower than last year, making it the 43rd month in a row that foreclosure activity has been down. Compared to March, last month’s scheduled auctions declined by 3 percent, significantly lower in comparison to March 2013′s numbers.

According to RealtyTrac vice president Daren Blomquist, “we are getting closer to pre-recession levels of foreclosure activity.”

At Greenway Law, LLC, we understand that many people in Birmingham still deal with foreclosure. By getting in contact with our highly knowledgeable lawyers, we may be able to defend you against your home foreclosure and even reduce or eliminate your debt at the same time.  Contact us at (205) 324-4000 so that we can discuss your situation together.

80’s heartthrob Lorenzo Lamas filed for bankruptcy

Posted on May 5th, 2014 No Comments

After accruing a debt of more than $300,000, actor and reality-TV star Lorenzo Lamas filed for Chapter 7 bankruptcy, Mail Online reported on April 29.

Reports said Lamas, who currently does not have any source of income as a freelance actor, has a debt of $322,000. The bulk of his debts were unsettled taxes worth $285,000 and domestic support debt worth $19,000. Lamas is currently married to his fifth wife. He has six children from previous marriages, and three are minors. The 56-year-old actor reportedly listed assets worth $9,100 including a checking account below $500. This is not Lamas’s first bankruptcy experience; he filed in 2004 due to a debt of $200,000.

People who have overwhelming debt often feel frustrated and hopeless without the funds to cover it. If you find yourself in this situation in Birmingham, the attorneys of Greenway Law, LLC may offer you other legal solutions to solve your financial problems. Call our lawyers today at (205) 324-4000 to learn more about your options.

“Meet the Parents” star files for bankruptcy

Posted on April 25th, 2014 No Comments

Teri Polo, who was well known for her role as Pam Focker in the movie franchise “Meet the Parents”, recently filed for bankruptcy in Los Angeles, the Huffington Post reported on April 23.

According to reports, Polo had accumulated debts to million dollars. The 44-year-old actress reportedly owed the IRS more than $700,000 and she also owed the California Franchise Tax Board worth $27,000 as stated in her Chapter 11 bankruptcy. Polo, also have thousands worth of unsettled credit card debt listed below $50,000 worth of assets.

The lawyers at Greenway Law, LLC know how hard it can be to struggle with overwhelming debt. If you are dealing with this difficult situation, contact us today by calling (205) 324-4000 to learn about what we can do to help you work through it.

Amount of first quarter foreclosures decreases

Posted on April 19th, 2014 No Comments

RealtyTrac recently reported that the U.S. housing market has recovered considerably since the 2008 economic downturn. This month, the housing market observed the lowest statistics regarding foreclosure activity since 2007.

Reports said that since March, lenders acquired nearly 29,000 homes nationwide, which is a 23% decrease compared to previous years before 2007. Factors like increasing housing cost and rising homeowners with fewer defaults contributed to the recently observe foreclosure recovery.

Though foreclosure crisis in United States continues to improve, the attorneys at Greenway Law, LLC. understand that many homeowners in Birmingham still experience stress when financing their property. To evaluate your legal options and obtain help with foreclosure defense call our offices at (205) 324-4000 today.

 

Agency reports that payday loans can be financially destructive

Posted on April 3rd, 2014 No Comments

A recent federal report indicates that many of the people that borrow payday loans are often trapped into debt because of the loans’ high interest rates.

The report released by the U.S. Consumer Financial Protection Bureau showed that more than 80% of short-term loan borrowers either delayed paying the loan, or took out an additional loan.

In order to protect yourself from debt, financial planner, Gary Schatsky suggests that people put temporary expenses on a credit card or borrow money from a family member or friend instead getting a payday loan.

Facing financial troubles can be extremely stressful. If you are struggling with debt, you may be able to benefit from the knowledge of an attorney. The lawyers of Greenway Law, LLC., assist Birmingham people that face financial difficulties. Call our offices today at (205) 324-4000 to speak with a knowledgeable professional about your options.

 

U.S. foreclosure rate reaches its lowest since 2006

Posted on March 19th, 2014 No Comments

Recent data from real estate research firm RealtyTrac shows that the number of U.S. homes in foreclosure last month marks the lowest since 2006, Forbes reported on March 13.

According to the data from February, at least 112,498 properties nationwide were in various phases of foreclosure proceedings, the lowest number since December 2006. Properties that started to enter foreclosure proceeding were also the lowest since the U.S. housing industry was struck by a crisis with only 51,842 properties with default notices recorded.

Though most states are observed to be recovering from the foreclosure crisis, RealtyTrac said there were at least 14 states last month that had an increase in homes entering foreclosure.

Though most states in the U.S. are continuing to recover from the foreclosure crisis, a lot of people in Birmingham are still facing the threat of losing their home. At Greenway Law, LLC, our legal team is here to help people facing this situation explore options for keeping their home. Call (205) 324-4000 to find out how we can help you work through your financial problems and possibly keep your home.

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Greenway Law LLC. All rights reserved. We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code. The following language is required pursuant to Rule 7.2, Alabama Rules of Professional Conduct. No representation is made that the quality of legal services to be performed is greater than the quality of legal services performed by other lawyers. This web site is designed for general information only. The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship.

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