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BANKRUPTCY LAWYER HUNTSVILLE ALABAMA
Bankruptcy Attorney Huntsville AL
The law firm of Ferguson & Ferguson has been fighting for the consumers of Huntsville, Alabama, for over 30 years. We always offer free Huntsville bankruptcy consultations, and our bankruptcy fees are among the lowest in Huntsville, Alabama. We can often quote you a fee immediately when you call after just a few simple questions, and we have flexible payment plans for everyone. Give us a call and find out how affordable our bankruptcy fees can be in your case. At Ferguson & Ferguson, we have the knowledge and skills to help you repair your credit and become debt-free. Call 256-534-3435. We can help. Do you constantly worry about your bills and how you are going to pay them? Are you receiving creditor calls at all hours of the day and night? Are the creditors threatening to sue you and garnish your wages? If you are worried about credit card companies, loan companies, or mortgage companies suing you, taking your vehicle, or foreclosing on your home, you are in the right place. When you came across our Huntsville, Alabama, bankruptcy website today, it was not by chance. Like thousands of Huntsville residents and millions across this country, you need answers and solutions to your financial problems. You can have a life without debt and harassing calls from creditors. We understand that you would prefer to be able to pay your debts and not file for bankruptcy. Bankruptcy can be a difficult decision, and we are here to make it simpler and less stressful. If the only solution you have is bankruptcy, we can help. Filing bankruptcy in Huntsville, Alabama, does not mean you lose everything you own. Nothing could be further from the truth in Alabama. The bankruptcy laws are designed to give you a fresh start.Helping Huntsville AL, Debtors Eliminate Debt Through Bankruptcy
Thousands of Alabamians filed for bankruptcy last year. In all, over a million personal bankruptcies were filed last year. The average US household had over $15,000 in debt last year. In 2017, 62% of all personal bankruptcies had a medical cause. One of the main purposes of bankruptcy law is to give a person who is burdened with debt a fresh start by wiping away personal debt. If you are having financial concerns and considering bankruptcy, we are here to guide you through the bankruptcy process. If bankruptcy is the right solution for you, our Huntsville bankruptcy attorneys can provide you with the most current and up-to-date bankruptcy advice possible. Make sure the bankruptcy attorney you hire is local, affordable, knowledgeable, and going to be with you down the road when you have questions. You can trust the attorneys at Ferguson & Ferguson to be by your side to the end of your case and beyond.How can Ferguson & Ferguson help?
We understand the stress that results from financial difficulties, but it does not have to be that way. We have helped thousands of Huntsville, Alabama, clients break free from tens of millions of dollars of debt. Bankruptcy can often be overwhelming, but our Huntsville attorneys will be with you all the way. All of our bankruptcy consultations are conducted by an attorney, not a secretary. Our Huntsville bankruptcy lawyers will help you understand your Chapter 7 and Chapter 13 options. We will explain how the bankruptcy laws can benefit you. At Ferguson & Ferguson, we understand your anxiety about your financial situation and offer you all possible solutions in your case. Our policy is to provide personal, one-on-one service throughout the entire bankruptcy process. Your concerns are our concerns. When you are looking for the most affordable, knowledgeable, and caring Huntsville, Alabama, bankruptcy attorney, look no further. We know about bankruptcy! Call Ferguson & Ferguson and stop the harassment from creditors immediately. We can keep the creditors at bay and help you keep your home, vehicles, and other property. Our Huntsville, Alabama, bankruptcy attorneys are committed to providing clients with immediate debt relief and assistance in starting over.What Can Bankruptcy Do for Me?
Bankruptcy laws allow individuals such as yourself the opportunity to eliminate debts caused by past mistakes or unforeseen circumstances. Assuming you need to file a bankruptcy, the only way to determine which chapter to file under is to first compare your options under the other available chapters (with the assistance of a bankruptcy attorney). Under any chapter, you are required to list all of your assets and all of your debts on your petition. An asset is anything you own or may have a right to own at some future date (for example, if you are in someone’s will). Some (and, in many cases, all) of your assets will be exempt. Basically, you can exempt any items normally used for your support and maintenance, such as clothing, furniture, household goods, and so forth. After you file your case, a trustee is appointed. He or she will liquidate or sell all of your non-exempt assets and pay your creditors according to the priority afforded to them by the Bankruptcy Code. You may voluntarily repay any debt upon agreement with the creditor. Whether this is ever advisable is questionable and is an issue to be discussed with your attorney or lawyer.What is Chapter 7 bankruptcy?
Chapter 7 bankruptcy is an affordable and simple solution for people struggling with debt. Chapter 7: Bankruptcy is a process that allows individuals to eliminate or discharge all or some of their debt in a legal and orderly fashion. Chapter 7 bankruptcy (Title 11 of the United States Bankruptcy Code) is commonly known to attorneys, lawyers, and others as a liquidating bankruptcy (liquidation), personal bankruptcy, or just plain “bankruptcy.” It is also referred to as a consumer, although businesses can also file under Chapter 7. The first step to filing a successful Chapter 7 bankruptcy is to accurately evaluate one’s goals and one’s eligibility for Chapter 7 bankruptcy relief. The objective of the typical Chapter 7 bankruptcy filer will be to eliminate or discharge all, or some, of his or her debt. In other words, once your discharge is granted, you no longer need to repay the debts that were incurred before you filed for bankruptcy. Whether or not one is eligible to file is a different issue from whether or not one should file. The person contemplating a Chapter 7 bankruptcy must first assess whether or not he or she is eligible to file. The requirements are relatively easy. Currently, the requirements are that you have not filed for Chapter 7 bankruptcy in the previous eight years or a Chapter 13 bankruptcy that paid less than a 70% dividend to unsecured creditors in the previous six years. In fact, a person filing for Chapter 7 need not be a citizen or even a legal resident of the United States; the Code requires that the debtor simply be a “resident.” If you meet these simple factors, then you would be eligible to file Chapter 7.What is Chapter 13 bankruptcy?
Chapter 13 is called the wage earner’s plan and allows people with a regular income to develop a plan for the repayment of debt. Even people who are self-employed can file for Chapter 13. The goal of most personal bankruptcy cases is to discharge your existing debts by repaying all or a portion of them and giving you a fresh start on your finances. In other words, once your discharge is granted by the court, you no longer need to repay the debts that were incurred before you filed your bankruptcy. When someone files for Chapter 13 bankruptcy, their aim is to have the opportunity to repay some or all the debts in their name in better terms, i.e., with lower or no interest. Unlike Chapter 7, which involves the liquidation of assets, this process involves restructuring debts, which allows the debtor to use whatever income they may have in the future to pay off the creditors. A Chapter 13 bankruptcy is for people who have a regular income and want to repay their creditors. The maximum amount of time to pay back creditors is 5 years. It offers great opportunities to pay off past-due mortgage arrears and/or car payments over 36–60 months, giving you time to catch up and keep your property. Chapter 13 can help you protect and keep all your assets, stop foreclosure sales and catch up on past-due mortgage payments over time, remove liens, such as second mortgages, on your property, discharge unsecured debts (such as credit cards, medical bills, certain taxes, and more) by doing an affordable repayment plan from 0% to 100%, and repay debts with zero percent interest.What Can We Do To Help?
What you get when you hire Ferguson & Ferguson:- Free phone consultations
- Free office consultation
- Fast same-day emergency filings
- Convenient Huntsville, Alabama location
- No money-down filing is available for Chapter 13 plans
- Payment plans to fit your case
- No hidden fees: many firms tack on $350 or more for what we do for free
- Established bankruptcy law firm and staff
- We handle both Chapter 7 and 13 cases
- No phony debt settlement schemes; we work within the court system
- Personal, professional, and caring attorneys, and a fresh start for you
- Knowledgeable and experienced attorneys
- 24/7 support when you need it!
Huntsville Bankruptcy Frequently Asked Questions
The following answers provide general information about bankruptcy in Huntsville, Alabama. Every bankruptcy case is unique, so consult an attorney regarding your specific situation.
What does a Huntsville bankruptcy lawyer do?
A Huntsville bankruptcy lawyer reviews debts, income, assets, expenses, collection problems, and financial goals; explains Chapter 7 and Chapter 13 options; prepares the required documents; and represents the client throughout the bankruptcy case.
What is the difference between Chapter 7 and Chapter 13 bankruptcy?
Chapter 7 may discharge many qualifying unsecured debts and can involve liquidation of nonexempt property. Chapter 13 uses a court-approved repayment plan, generally lasting three to five years, and may help a debtor catch up on secured debts while keeping property.
How do I know whether Chapter 7 or Chapter 13 is right for me?
The appropriate chapter depends on income, assets, debt types, mortgage or vehicle arrears, prior filings, the means test, and personal goals.
Can bankruptcy stop creditor harassment?
Filing bankruptcy generally triggers the automatic stay, which stops most collection calls, letters, lawsuits, garnishments, repossessions, and other collection activity.
Can bankruptcy stop wage garnishment in Huntsville?
The automatic stay generally stops most wage garnishments after a bankruptcy case is filed.
Can bankruptcy stop foreclosure?
A bankruptcy filing may temporarily stop foreclosure through the automatic stay. Chapter 13 may allow a qualified debtor to cure mortgage arrears over time.
Can bankruptcy stop vehicle repossession?
The automatic stay may temporarily stop repossession if the vehicle has not already been repossessed and no exception applies.
Can I keep my home if I file bankruptcy?
Many debtors keep their homes, depending on exemptions, equity, mortgage status, income, and the chapter selected.
Can I keep my car if I file bankruptcy?
Many debtors keep their vehicles by using exemptions and continuing required payments or through a Chapter 13 plan.
Can bankruptcy eliminate credit-card debt?
Qualifying credit-card debt is commonly dischargeable in bankruptcy.
Can bankruptcy eliminate medical bills?
Medical bills are generally unsecured debts and are commonly dischargeable in Chapter 7 or treated through Chapter 13.
Can bankruptcy discharge personal loans?
Many unsecured personal loans may be discharged unless an exception applies.
Are tax debts dischargeable in bankruptcy?
Some older income-tax debts may be dischargeable if statutory requirements are met.
Are student loans dischargeable in bankruptcy?
Student loans are generally not discharged unless undue hardship is proven.
Are child support and alimony discharged in bankruptcy?
Domestic support obligations are generally not dischargeable.
What is the bankruptcy automatic stay?
The automatic stay is a federal injunction that generally begins when a bankruptcy petition is filed and stops most collection activity.
What is the Chapter 7 means test?
The means test evaluates current monthly income, applicable median-income data, and allowable expenses.
Can I keep all my property in Chapter 7?
Many Chapter 7 debtors keep all property by applying available exemptions.
What are bankruptcy exemptions?
Bankruptcy exemptions protect specified property interests from liquidation.
What does a bankruptcy trustee do?
The trustee reviews the petition, conducts the meeting of creditors, and administers the case.
What happens at the meeting of creditors?
The debtor answers questions under oath from the trustee about financial information.
How long does Chapter 7 bankruptcy take?
Many straightforward no-asset Chapter 7 cases receive a discharge within several months.
How long does Chapter 13 bankruptcy take?
A Chapter 13 repayment plan generally lasts three to five years.
Do I need credit counseling before filing bankruptcy?
Most individuals must complete approved credit counseling before filing unless an exception applies.
What documents should I bring to a bankruptcy consultation?
Bring pay stubs, tax returns, bank statements, creditor notices, lawsuits, mortgage statements, vehicle loan information, and a list of assets and debts.
Do I have to list every creditor in my bankruptcy?
Yes. Debtors should disclose all known creditors and debts.
Will my spouse have to file bankruptcy with me?
No. Married individuals may file jointly or separately.
Can self-employed people file bankruptcy?
Yes. Self-employed individuals may file Chapter 7 or Chapter 13 if they meet the legal requirements.
Will filing bankruptcy ruin my credit forever?
No. Bankruptcy affects credit, but many people rebuild their credit after discharge.
How often can someone file bankruptcy?
A person may file more than once, but waiting periods can limit eligibility for another discharge.
What is a bankruptcy discharge?
A discharge releases the debtor from personal liability for qualifying debts.
Does bankruptcy erase liens on property?
Not automatically. Valid liens may remain unless bankruptcy law allows them to be avoided or modified.
Can Ferguson & Ferguson handle an emergency bankruptcy filing?
Yes. The firm offers emergency bankruptcy filings when appropriate.
Does Ferguson & Ferguson offer payment plans for bankruptcy cases?
Yes. Payment plans are available, and some Chapter 13 cases may qualify for no-money-down filing.
Does Ferguson & Ferguson offer free Huntsville bankruptcy consultations?
Yes. Free bankruptcy consultations are available through the Huntsville office.
Where is the Ferguson & Ferguson Huntsville bankruptcy office?
303 Williams Avenue SW, Suite 321, Huntsville, Alabama 35801.
What is the Huntsville bankruptcy office phone number?
The Huntsville office can be reached at 256-534-3435.