Posted on January 28th, 2010
The owners of an Alabama landfill filed for bankruptcy Tuesday. According to the bankruptcy filing, Perry Uniontown Ventures LLC and Perry County Associates filed for Chapter 11 bankruptcy protection.
The filing comes on the heels of the owners accepting a multimillion dollar deal for a coal ash spill at a Tennessee Valley Authority plant. However, because the payments were late, the two owners said they were forced to file for bankruptcy.
If your company has filed for bankruptcy, contact the Birmingham bankruptcy lawyer Paula Greenway at 205-324-4000.
Posted on January 21st, 2010
Bankruptcy fraud occurs when individuals file for bankruptcy with criminal intent. Such intent includes filing for bankruptcy for purpose of not paying for goods and services even though the filers have sufficient funds.
If individuals are convicted of bankruptcy fraud, they could face severe penalties such as jail time or financial penalties. Some individuals, however, wrongly believe that having any income and filing for bankruptcy constitutes bankruptcy fraud.
To determine whether you are in a legitimate position to file for bankruptcy, contact the Birmingham bankruptcy attorneys of Paula Greenway, LLC, at 205-324-4000.
Posted on January 13th, 2010
Some education funds are exempt from seizure within limits. According to Alabama bankruptcy law, allowable funds include those that are place in an educational retirement account or qualified tuition program.
They are limited to payments made to the fund within the last 365 days and up to a limit of $5,000 for funds contributed between one and two years. These limits and restrictions are often complex and understanding them often requires the assistance of an experienced lawyer.
If you or anyone you know has questions about what funds are exempt in a bankruptcy filing, contact the Birmingham bankruptcy lawyer Paula Greenway at 205-324-4000.
Posted on January 6th, 2010
Bankruptcy filings increased 32 percent in 2009 compared to 2008. According to statistics released by the National Bankruptcy Research Center, 1.3 million individuals and businesses filed for bankruptcy.
This uptick in filings includes a 42 percent increase in Chapter 7 filings and a 12 percent increase in Chapter 13 filings. The relatively larger increase for Chapter 7 filings was significant because Congress had passed legislation in previous years encouraging individual bankruptcy filers to file for Chapter 13 over Chapter 7.
If you or anyone you know is considering filing for Chapter 7 or Chapter 13, contact the Birmingham bankruptcy lawyers of Paula Greenway at 205-324-4000.
Posted on December 31st, 2009
Alabama’s Colonial BancGroup, the holding company that controlled Colonial Bank, is working its way out of bankruptcy. Colonial was one of three Alabama banks which failed during the recent economic meltdown; when it went under, it had approximately $25 billion in assets.
As of last month, though, the company had negative $321 million in assets and only three employees. Despite it all, though, Colonial BancGroup remains a viable business and is diligently working its way out of its debt.
Colonial Bank was seized by bank regulators on August 14, and the group filed for bankruptcy on August 25.
If you or someone you love is facing economic hardship, contact the Birmingham bankruptcy attorneys of Greenway Law today by calling 205-324-4000.
Posted on December 23rd, 2009
A garnishment is a way of collecting payment from a defendant. It orders a third party, which owes money to the defendant, to pay money directly to a plaintiff.
Garnishments may cause significant financial hardship for those who have a number of debts. For this reason, a bankruptcy court relieve individuals who file for bankruptcy of their garnishments.
If you or anyone you know has considered filing for bankruptcy, contact the Alabama bankruptcy lawyer Paula Greenway at 205-324-4000.
Posted on December 4th, 2009
Given the recent economic crisis, more individuals and families are filing for bankruptcy. Some of these filers, however, may not actually be in a position to file for bankruptcy.
In some cases, bankruptcy filers may not actually be in a position to file for bankruptcy and may be trying to get away with bankruptcy fraud. When this occurs, the filer may try to hide assets or make false debt claims.
If you or anyone you know is considering filing for bankruptcy, contact the Birmingham bankruptcy lawyers of Paula Greenway at 295-324-4000.
Posted on November 24th, 2009
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.
Posted on November 20th, 2009
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.
Posted on November 12th, 2009
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.
