Bankruptcy

Bankruptcy Information

We’ll help you decide how to resolve your financial problems The “automatic stay”  provided under the Bankruptcy Code becomes effective immediately upon the filing of your bankruptcy case.  The “automatic stay” prohibits creditors from all collection efforts including harassing phone calls, garnishment of wages and bank accounts, lawsuits, IRS levies, repossessions and foreclosures. The Bankruptcy Code is divided into chapters with each chapter setting forth the rules of a particular type of bankruptcy. A Chapter 7 bankruptcy, often referred to as a “straight bankruptcy” allows you to completely eliminate certain debts.  A Chapter 13 bankruptcy allows you to consolidate your debts into one affordable monthly payment provided you have wages or other income to fund a payment plan. Chapter 11 Bankruptcy allows businesses and some individuals to reorganize debts. Chapter 12 Bankruptcy allows farmers to consolidate debts without losing their farms.  Chapter 7 and Chapter 13 are the most common bankruptcy proceedings filed by consumers. One of the many services provided by our office is to review your financial information and help you decide which chapter, if any, would best resolve your financial problems. During your FREE CONSULTATION we will have the opportunity to provide you with detailed information based upon your individual circumstances. Please call us at (251) 433-3657 or (251) 943-7008. Bankruptcy Basics Chapter 7 Allows you to liquidate your unsecured debt and receive a discharge within four to six months from the date you file your bankruptcy case. All of your unsecured debts such as credit cards, medical bills, payday loans, signature loans and repossession deficiencies, are eliminated with no payment to unsecured creditors. Generally, you may reaffirm debts with secured creditors on property that you wish to retain such as your home or automobile. You can choose to surrender property you do not want to retain and discharge any possible deficiency balance  Debts such as child support, alimony, most student loans and certain taxes  cannot be discharged  To determine Chapter 7 eligibility you must pass the “means test” which compares your income and expenses to  national IRS standards  Debtors are eligible to file  Chapter 7 and receive a discharge of their debts eight years after the filing of a prior chapter 7 A bankruptcy proceeding is reflected on your credit report for 10 years but it is possible for your credit to be rebuilt following the filing of a Chapter 7 Bankruptcy  Chapter 13 Allows you to reorganize and consolidate your debt into one affordable monthly payment  Provides you with an opportunity to pay creditors on terms that are more favorable to  you over a 3 to 5 year period.   Allows you to retain your home and pay past due mortgage payments through your  Chapter 13 Plan May allow a reduction of the interest rate and monthly payments on secured debts  such as your automobile and furniture  Allows you to repay tax debts through your Chapter 13 Plan Allows you to repay past due payments on alimony and child support through your  Chapter 13 Plan Does not allow you to receive a discharge for most unpaid student loans, child  support, alimony or certain unpaid taxes
Bankruptcy attorney for Mobile and Eastern Shore cities including Spanish Fort, Daphne and Fairhope and Baldwin County including Bay Minette, Loxley, Robertsdale, Silverhill, Magnolia Springs, Lillian, Elberta, Foley, Gulf Shores, Orange Beach.  Bankruptcy attorney for Mobile, AL cities including Axis, Creola, Satsuma, Saraland, Semmes, Tillman’s Corner, Theodore, and Chickasaw.
© Terrie Seal Owens, LLC.  All Rights Reserved.  Website Design and Hosting by North Mobile Internet Services, Inc.
TSO
Terrie Seal Owens, LLC
DEBT RELIEF

Contact Us

Today for a

FREE

Consultation

Mobile, AL and

Eastern Shore

251-433-3657

Foley, AL

251-943-7008 

Are you facing foreclosure?

Do you need to stop a garnishment?

Are you in danger of repossession?

Are you overwhelmed by debt?

Business Hours:

Monday-Friday, 8am-5pm

We accept cash, check, money

orders and certified funds

Call me Today! 251-433-3657
Alabama State Bar Association Regulations require the following: “No representation is made that the quality of the legal services to be performed is greater than the quality of legal services performed by other lawyers." 11 U.S.C. 528 of the U.S. Bankruptcy Code requires the following: "We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.”

Bankruptcy Lawyer in Mobile, AL and Foley, AL

Bankruptcy

Information

We’ll help you decide how to resolve your financial problems The “automatic stay”  provided under the Bankruptcy Code becomes effective immediately upon the filing of your bankruptcy case.  The “automatic stay” prohibits creditors from all collection efforts including harassing phone calls, garnishment of wages and bank accounts, lawsuits, IRS levies, repossessions and foreclosures. The Bankruptcy Code is divided into chapters with each chapter setting forth the rules of a particular type of bankruptcy. A Chapter 7 bankruptcy, often referred to as a “straight bankruptcy” allows you to completely eliminate certain debts.  A Chapter 13 bankruptcy allows you to consolidate your debts into one affordable monthly payment provided you have wages or other income to fund a payment plan. Chapter 11 Bankruptcy allows businesses and some individuals to reorganize debts. Chapter 12 Bankruptcy allows farmers to consolidate debts without losing their farms.  Chapter 7 and Chapter 13 are the most common bankruptcy proceedings filed by consumers. One of the many services provided by our office is to review your financial information and help you decide which chapter, if any, would best resolve your financial problems. During your FREE CONSULTATION we will have the opportunity to provide you with detailed information based upon your individual circumstances. Please call us at (251) 433-3657 or (251) 943- 7008. Bankruptcy Basics Chapter 7 Allows you to liquidate your unsecured debt and receive a discharge within four to six months from the date you file your bankruptcy case. All of your unsecured debts such as credit cards, medical bills, payday loans, signature loans and repossession deficiencies, are eliminated with no payment to unsecured creditors. Generally, you may reaffirm debts with secured creditors on property that you wish to retain such as your home or automobile. You can choose to surrender property you do not want to retain and discharge any possible deficiency balance  Debts such as child support, alimony, most student loans and certain taxes  cannot be discharged  To determine Chapter 7 eligibility you must pass the “means test” which compares your income and expenses to  national IRS standards  Debtors are eligible to file  Chapter 7 and receive a discharge of their debts eight years after the filing of a prior chapter 7 A bankruptcy proceeding is reflected on your credit report for 10 years but it is possible for your credit to be rebuilt following the filing of a Chapter 7 Bankruptcy  Chapter 13 Allows you to reorganize and consolidate your debt into one affordable monthly payment  Provides you with an opportunity to pay creditors on terms that are more favorable to  you over a 3 to 5 year period.   Allows you to retain your home and pay past due mortgage payments through your  Chapter 13 Plan May allow a reduction of the interest rate and monthly payments on secured debts  such as your automobile and furniture  Allows you to repay tax debts through your Chapter 13 Plan Allows you to repay past due payments on alimony and child support through your  Chapter 13 Plan Does not allow you to receive a discharge for most unpaid student loans, child  support, alimony or certain unpaid taxes
Bankruptcy attorney for Mobile and Eastern Shore cities including Spanish Fort, Daphne and Fairhope and Baldwin County including Bay Minette, Loxley, Robertsdale, Silverhill, Magnolia Springs, Lillian, Elberta, Foley, Gulf Shores, Orange Beach.  Bankruptcy attorney for Mobile, AL cities including Axis, Creola, Satsuma, Saraland, Semmes, Tillman’s Corner, Theodore, and Chickasaw.
© Terrie Seal Owens, LLC.  All Rights Reserved.  Website Design and Hosting by North Mobile Internet Services, Inc.
Bankruptcy
DEBT RELIEF

Contact Us

Today for a

FREE

Consultation

Mobile, AL and

Eastern Shore

251-433-3657 

Foley, AL

251-943-7008 

TSO
Terrie Seal Owens, LLC