How much does a bankruptcy lawyer cost in Alabama?

Bankruptcy attorneys in Alabama cost between $815 – $1,500 The price of a personal bankruptcy attorney in Alabama is around $1,157.50 (Low: $815.00. High: $1,500.00). This information is provided by multiple service providers and open marketplaces.

How much does it cost in Alabama to file bankruptcy?

The Chapter 7 bankruptcy fee is $335. The Chapter 13 bankruptcy filing fee is $310. You also have to pay a private lawyer to handle your case.

Can a spouse file for bankruptcy alone in Alabama?

Yes, but your spouse will still be liable for any joint debts.

Are you responsible for your spouse’s debt in Alabama?

Debt and Asset Division In Alabama, debt and assets are divided in an equitable fashion. That means that, rather than being divided 50/50, debt is split up in a way that is fair to both parties.

Is it better to file a Chapter 7 or 13?

Most people prefer Chapter 7 bankruptcy because, unlike Chapter 13 bankruptcy, it doesn’t require you to repay a portion of your debt to creditors. In Chapter 13 bankruptcy, you must pay your creditors all of your disposable income—the amount remaining after allowed monthly expenses—for three to five years.

Can I keep my car if I file Chapter 7 in Alabama?

Your Car in Chapter 7 Bankruptcy As with a house, you can keep your car after filing for Chapter 7 if: You are up-to-date with your car loan payments. The car qualifies as an “exempt” asset under Alabama state law.

How long does it take to file bankruptcy in Alabama?

Rather than filing for bankruptcy, you could ask for debt relief from your creditors, but if you need a serious fresh start, bankruptcy may be the best path forward. It’s pretty easy to file for bankruptcy if you have the right guidance, and the process often only takes four to six months.

How long does it take to rebuild credit after Chapter 7?

Most experts say it will take 18 to 24 months before a consumer with re-established good credit can secure a mortgage loan after discharge from personal bankruptcy.

Can I keep my tax refund after filing Chapter 7?

Tax refunds can become complicated during a Chapter 7 bankruptcy. However, the bottom line is that your bankruptcy trustee will likely take a portion or all of your annual tax refund as part of the bankruptcy estate and use it to pay your creditors.

Can I keep my house if I file bankruptcy in Alabama?

Alabama Homestead Exemption A homestead exemption helps you keep your home in bankruptcy. In Alabama, you can protect up to $16,450 of equity in your residence. Your residence can be a house, mobile home, or similar dwelling place on up to 160 acres.

What happens if one spouse files for bankruptcy and not the other?

If a husband files bankruptcy without his wife, only the husband’s debts are discharged. If the debts are held jointly, the non-filing wife will still owe even after one spouse has filed bankruptcy. The bankruptcy filing will appear on the husband’s credit report, but should not appear on the wife’s.

What happens if my wife files for bankruptcies?

If most debts are owed only by one spouse, it may be appropriate for that spouse to file for bankruptcy alone. However, if one spouse does file for bankruptcy in order to discharge debts, the other spouse may be held responsible for repayment of some debts, such as jointly-owned credit card debt or medical debt.

Is Alabama A 50 50 state in a divorce?

Rarely is the split 50-50, and the judge will take into account a host of factors when deciding how to divide the property. The law does not spell out a fixed standard on how property has to be divided in these cases. Rather, the trial court is given a broad amount of discretion in determining equitable division.

What is marital property in Alabama?

In Alabama, most property acquired during a marriage is going to be considered marital property. Thus, a house purchased by a husband and wife after marriage is going to be considered marital property that will be divided based on equitable distribution as determined by the court.

Is a surviving spouse responsible for medical bills in Alabama?

In Alabama, the surviving spouse is not responsible for the deceased spouse’s liabilities. If the surviving spouse cosigned for a debt, he or she can be held liable for payment of that debt.

What is the debt limit for Chapter 7?

There is no ceiling on the amount of debt with which you can file for Chapter 7 bankruptcy. Chapter 7 also is often preferred over Chapter 13 because it wipes out debt and doesn’t involve repayment. The rules under Chapter 13 are more stringent, but Chapter 7 is open to any individual with any amount of debt.

What is the highest Chapter 13 payment?

If you filed for bankruptcy to avoid foreclosure or are behind in house payments, your Chapter 13 plan payment could be more or less $1500 per month. Additionally, high income, high debt Chapter 13 filers would usually be required to make payments between $2000 and $3000, or even more.

How long does Chapter 7 Stay on credit?

Debts such as child support, alimony, most student loans, and certain tax debts are typically not discharged. A Chapter 7 bankruptcy is typically removed from your credit report 10 years after the date you filed, and this is done automatically, so you don’t have to initiate that removal.

What do you lose when you file Chapter 7?

If you file for Chapter 7 bankruptcy, you may lose your nonexempt belongings, property that has a lien on it and property you offered as collateral for a loan. Examples of exempt property based on current federal limits for an individual include: A homestead exemption of $25,150. Up to $4,000 on a vehicle.

What happens to your bank account when you file Chapter 7?

In most Chapter 7 bankruptcy cases, nothing happens to the filer’s bank account. As long as the money in your account is protected by an exemption, your bankruptcy filing won’t affect it.

What property is exempt from creditors in Alabama?

Personal Property Exemption = value of your cars (minus any money owed), bank accounts, and any other personal property you own. All exemption amounts double if you are married and own property jointly.

What is Alabama debt relief?

Alabama debt relief involves debt reduction through debt settlement or debt consolidation. Pacific Debt Relief specializes in debt settlement. We work to reduce your debt for less than you owe. Most unsecured debt qualify for the Pacific Debt relief program, including credit card debts.

How do I get my credit score to 800 after Chapter 7?

  1. Pay Your Bills on Time, Every Time. Perhaps the best way to show lenders you’re a responsible borrower is to pay your bills on time.
  2. Keep Your Credit Card Balances Low.
  3. Be Mindful of Your Credit History.
  4. Improve Your Credit Mix.
  5. Review Your Credit Reports.

How can I raise my credit score 200 points in 30 days?

  1. Get More Credit Accounts.
  2. Pay Down High Credit Card Balances.
  3. Always Make On-Time Payments.
  4. Keep the Accounts that You Already Have.
  5. Dispute Incorrect Items on Your Credit Report.

Can I keep a credit card in Chapter 7?

You’ll likely have to give up all of your credit cards if you file for Chapter 7 bankruptcy, but you can start rebuilding your credit once your case is closed. If you file for Chapter 7 bankruptcy and are hoping to hang onto one of your credit cards, you will likely be out of luck.

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