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Should a person in Pell City, Alabama file for bankruptcy if they are in debt?

Being in debt is stressful and while many who fall into a financial rut are looking for a quick and easy fix, bankruptcy isn’t always the answer. Before a person considers filing for bankruptcy in Alabama, they need to understand what the…
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How to report a debt collector who continues to pursue a debtor after they filed for bankruptcy?

St. Claire County, FL—Once an individual files for bankruptcy in Alabama, debt collectors are generally required to cease all contact with the debtor once they are notified of the bankruptcy filing. If a debt collector continues with their…
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Can debt consolidation help a person in Alabama avoid bankruptcy?

Margaret, AL—Debt consolidation is when an individual takes all or most of their current debt and lumps it all together. Instead of them having to make multiple payments each month to different creditors, they would only be required to make…
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What is the Difference Between Secured and Unsecured Debt?

Moody, AL—Debt can be categorized as secured debt and unsecured debt. The most common form of debt individuals accrue is unsecured debt. Unsecured debt is debt “that has no collateral backing.”1 Credit cards, student loans, and even personal…
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Things Alabamians Should Consider Before Hiring a Debt Settlement Company

Leeds, AL—Debt settlement companies are often hired to settle a person’s debt. These companies are generally relied on by individuals who have accumulated more debt than they can repay but are looking to get their accounts settled and closed.…
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How can a person rebuild their credit after filing for bankruptcy?

St. Claire County, AL— Raising a credit score after filing for bankruptcy can take time, but it isn’t impossible. Although bankruptcy will stay on a person’s credit report for seven to 10 years, there are steps an individual can take to…
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Is filing for bankruptcy expensive in Alabama?

The price an individual will need to pay in order to file for bankruptcy in Alabama depends on a number of different things. For instance, the type of bankruptcy they file is one factor that will be used to determine how much a person will spend…
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Should an individual with debt get a joint bank account after getting married?

Alabama—When an individual owes money to a creditor, that creditor may either pursue them for the money that is owed or sell off the debt to a debt collection agency who will take over the efforts of recovering the unpaid money. While many…
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What are some things an individual in Alabama can do to avoid bankruptcy?

Bankruptcy is an option many consider when they have accrued a substantial amount in debt and have no way of paying it back. Although bankruptcy helps many individuals get back on their feet by helping them avoid litigation and/or start with…
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Is it bad to file for bankruptcy young?

Alabama—There are pros and cons to filing for bankruptcy in the State of Alabama, regardless of how old a person is. Filing for bankruptcy could make it difficult for the filer to obtain a credit card or loan in the following years, but they…
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Unemployed Alabama Residents Contemplate Bankruptcy to Avoid Foreclosure

The COVID-19 pandemic has made life exceptionally difficult for people throughout the United States. Millions have been laid off with no prospect of reemployment in the foreseeable future. And while many states offer competitive unemployment…