7 days ago by admin

When small businesses file for bankruptcy, their owners’ personal assets are typically protected from creditors. The filing typically freezes or erases creditors’ claims on the business’s assets. However, if the owner is liable for the businesses debts, then the owner’s personal assets may be used t ...

Birmingham Bankruptcy Lawyer - greenwaylaw.com

12 days ago by admin

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 ...

Birmingham Bankruptcy Lawyer - greenwaylaw.com

22 days ago by admin

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 stipu ...

Birmingham Bankruptcy Lawyer - greenwaylaw.com

26 days ago by admin

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 m ...

Birmingham Bankruptcy Lawyer - greenwaylaw.com

34 days ago by admin

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 ...

Birmingham Bankruptcy Lawyer - greenwaylaw.com

40 days ago by admin

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 ...

Birmingham Bankruptcy Lawyer - greenwaylaw.com

62 days ago by admin

Given the high number of people filing for Chapter 7, the Bush administration passed the Bankruptcy Abuse Prevention and Consumer Protection Act in 2005. The act required people filing for Chapter 7 to pass the “means test.” The means test measures whether a debtor can pay off some or all of his deb ...

Birmingham Bankruptcy Lawyer - greenwaylaw.com

70 days ago by admin

When borrowers amass huge amounts of debt and are unable to repay some or all of it, lenders have alternative means for recovering debt payments. One way is through wage garnishments. Through wage garnishments, creditors recover debt by taking money from a borrower’s paycheck before it is issued to ...

Birmingham Bankruptcy Lawyer - greenwaylaw.com

77 days ago by admin

Santa Fe Cattle Co. closed three of its restaurants recently, including one in Tuscaloosa. The restaurant chain, which is known for its Southwestern food, filed for Chapter 11 bankruptcy in July. The plan to close some of its restaurants is part of the company’s bankruptcy reorganization. According ...

Birmingham Bankruptcy Lawyer - greenwaylaw.com

91 days ago by admin

Dixie Pellets filed for Chapter 11 bankruptcy earlier this week. The alternative fuel plant in Selma laid off employees earlier this month and cited more than $100 million in debts, according to the bankruptcy filing. The plan is an affiliate of Harbert Management Corp., and the Harbert Power Fund I ...

Birmingham Bankruptcy Lawyer - greenwaylaw.com