BANKRUPTCY LAWYERS IN MOBILE, AL
Need Bankruptcy Lawyers Mobile AL?
If you’re drowning in debt without a way out, getting rid of it is probably one of your top priorities. Bankruptcy offers a path to freedom for those who are behind on their bills. It allows people to get out from under the money they owe, obtain financial management skills, and start fresh. Don’t go through this alone. The bankruptcy attorneys at Morgan & Morgan can assess your financial situation and advise you whether bankruptcy is the right course of action. If so, we’ll assist you in filing the necessary paperwork to grant you a clean slate to start over.
Filing for Bankruptcy in Mobile AL
Before you can file bankruptcy, the state of Alabama requires you to undergo credit counseling. Next, your debts and income will be analyzed to determine which type of bankruptcy makes sense for you: Chapter 7 or Chapter 13. If your average income for the six months preceding bankruptcy filing is below the state average, you must file Chapter 7.
If your income exceeds the average, the courts will apply the ‘means test’ to determine which type of bankruptcy is appropriate. Generally, the courts require anyone who can pay at least $10,000 per year over a five-year period to file Chapter 13.
With a Chapter 7 bankruptcy, you must sell your assets and use the money to repay your creditors. The process is quick, and you can have your debts fully discharged in as little as three months.
The state sets exemptions for certain assets, including:
- Life insurance proceeds
- Public benefits
- Church pews
With a Chapter 13 bankruptcy, you get to keep your property while making repayments under a court-mandated plan. Following the completion of the plan, you can retain your property. Debt repayment plans run anywhere from 3-5 years. While Chapter 13 is longer, it may be preferable to keep your personal possessions, depending on your situation.
Why Hire Morgan & Morgan Bankruptcy Lawyers in Mobile AL?
Bankruptcy is a serious decision. Having the right legal representation on your side can make all the difference. However, all law firms are not the same. With over 400 attorneys nationwide and more than 30 years of experience, we have the resources necessary to provide you the best service possible.
Morgan & Morgan’s bankruptcy attorneys in Mobile, AL are passionate about helping struggling people alleviate financial pressure. You deserve more than worrying about debt – we want to be by your side during these trying times and get you an outcome that serves your best interests. While we have the resources and reach of a large firm, we’re a family law firm at heart, treating every client as a member.
We pride ourselves on our transparency. Your bankruptcy attorney will answer all of your questions and keep you in the loop about everything. You’ll also get access to 24/7 open communication through our mobile app.
Don’t go through bankruptcy alone. Fill out this form for a free case evaluation and become a part of the Morgan & Morgan family.