Our law firm has been helping clients file for bankruptcy and restructure their financial situations for decades. The bankruptcy lawyers on our team have handled cases in Huntsville, Athens, Decatur, Madison, and surrounding areas. If you are considering bankruptcy protection, we can help you determine if you qualify and could benefit from filing an Alabama bankruptcy.
Most people are eligible for Chapter 13 bankruptcy; however, there are exceptions:
Developing your Chapter 13 plan can be quite complicated. There are certain debts that must be paid back first, while others can be repaid partially. To create an effective plan, discuss your options with an experienced bankruptcy attorney at our firm. We can educate you about the process and come up with a plan that can maximize your assets and help you get out of debt.
The first and most important debts to be paid off are priority debts. These include employee wages, taxes, child support, and alimony. Next, secured debts need to be paid; these are any debts that have been secured by your property such as a home or car. Lastly, unsecured debts are paid with whatever disposable income is left.
Still have questions? Schedule a consultation with a lawyer from our team today by calling or completing an online form