Bankruptcy Law

File for bankruptcy with confidence.

Job loss, divorce, a serious medical condition, and many other difficult life situations can result in significant debt. This debt may feel impossible to get out of, and it may have started affecting other areas of your life and well-being. If you are worried you will never get out of debt, you may have considered filing personal bankruptcy. At Arnold Law Office, we can help you determine if this is a beneficial course of action and then help you with the duration of the filing process.

We have offices in both Pell City and Talladega, Alabama, and we are here to make filing Chapter 13 bankruptcy a less intimidating process. Chapter 13 bankruptcy is a type of consumer bankruptcy that allows you to repay a portion of your debts to your creditors over a three to five-year period. This debt repayment schedule is set by the court, and once the term is over, the rest of your debt gets discharged.

Although filing bankruptcy is beneficial for many, it is a legal process that still carries consequences. You should take your decision to file Chapter 13 bankruptcy seriously and use it as an opportunity to change your financial path forward.

If you have any questions about what the bankruptcy process looks like, our legal team is here to provide further information and direction. Contact our law office today to set up a bankruptcy consultation with one of our attorneys.

If you have considerable debts, we can help you with Chapter 7 bankruptcy.

Debt is the source of much stress and anxiety for many people. In some cases, debts are so much of a financial burden that individuals cannot afford to make regular monthly payments toward them. If you find yourself in this situation, our law firm can help you with Chapter 7 bankruptcy.

Chapter 7 bankruptcy is available to individuals and businesses regardless of the debt amount you owe. It involves a bankruptcy trustee who oversees the liquidation of your assets to pay creditors. First, unsecured debts such as tax debts and child support are paid, after which secured debts are paid. Secure debt is debt with collateral, such as a mortgage. At the end of the process, certain debts will be discharged, and you will no longer be liable for that debt.

As straightforward as Chapter 7 bankruptcy seems, many things will be different depending on your unique circumstances. For example, a federal tax debt may or may not be dischargeable in your case. To get help through the process and receive professional advice, you should hire a bankruptcy lawyer.

Here at Arnold Law Offices, we can help you get relief from your debt and have a fresh financial start by assisting you with Chapter 7 bankruptcy. Our legal team has years of experience in bankruptcy law, so you can rest assured that we will assist you with the utmost professionalism and legal knowledge. If you need our services, we have offices in Pell City and Talladega, Alabama. Give us a call today.

We can help you prepare to attend debtor’s court.

If you end up in significant debt and decide to file consumer bankruptcy, there are many different steps you must take before finishing the filing process. One of these involves going to debtor’s court, which is one way of stating that you will complete the examination process.

During the debtor’s court process, judgment creditors will look at different ways they can collect funds from you to pay off your debts. For example, they may determine they will garnish your wages or use existing funds from your bank account. The main purpose of debtor’s court is to determine how they will collect a judgment against you if you fail to pay.

Part of the debtor’s court process also involves answering some questions under oath about your finances and your personal ability to pay any judgments you owe to your creditors. You may be asked to provide information about the assets you own, how much money you owe and to whom, and details about your employment status.

Preparing to attend debtor’s court can be intimidating, but we are here to support you and provide legal guidance throughout the process at Arnold Law Offices LLC.

We have offices in Pell City and Talladega, Alabama, and have helped hundreds of clients successfully navigate debtor’s court and bankruptcy. To set up a consultation or to learn more about our approach to helping our clients, contact us today.

Foreclosure may be part of the bankruptcy process.

When you decide to declare bankruptcy, your assets may be used to pay back a portion of your debts to your creditors. For example, during the bankruptcy process, your vehicles, furnishings, and even your house can be used to pay back some of what you owe.

Although this does not happen to everyone when they file bankruptcy, foreclosure on a home can be part of the process. Foreclosure occurs when the borrower fails to make their mortgage payments, and the lender repossesses the home and attempts to sell it. Not only can foreclosure make it difficult to find another place to live, but this event can also negatively impact your credit. If your home is foreclosed on, this event will stay on your credit report for seven years from the date of your first missed payment.

Although foreclosure can be a difficult event to endure, if it occurs as part of the bankruptcy process, we are here to help at Arnold Law Offices. We can guide you through the process, help you prepare for what is to come and help you devise strategies for rebuilding your credit once the filing process is complete. Our goal is to reduce some of your stress and the uncertainty of foreclosure and bankruptcy.

We have offices in Pell City and Talladega, Alabama, and we are here to help you navigate the bankruptcy and foreclosure processes as seamlessly as possible. To learn more and to set up a consultation, contact us today.