Birmingham Bankruptcy Laws
Bankruptcy & Debt Consolidation in Birmingham, Anniston, Gadsden, Tuscaloosa, Talladega, and Walker County areas
When you are contemplating bankruptcy, it is easy to be confused. Should you file for Chapter 7? Chapter 11? Or Chapter 13? And what difference does it make which one you file?
In general, Chapter 7 requires the analysis of the assets that you own, and the debts you owe, to determine if there is excessive equity in your assets which can be used to pay your creditors. A trustee is assigned to oversee the analysis of your assets and is tasked with protecting the rights of your creditors.
Chapter 11 bankruptcy offers both corporations and sole proprietors the opportunity to reorganize their finances. It is generally used by busnesses but can be used by individual debtors who do not qualify for Chapter 13 because their debts exceed the Chapter 13 limit.
Chapter 13 allows you to keep your property and repay your debts over an extended time period with little or no interest.
It is important to get experienced bankruptcy advice before you decide to file. By sitting down with your bankruptcy attorney, you will understand your rights and responsibilities as well as the process your case will follow. For help with bankruptcy laws in Birmingham, and surrounding areas (including Shelby, Blount, St. Clair, Jefferson, Talladega, Calhoun, Etowah, and Tuscaloosa Counties) consult attorney Cindee Dale Holmes. With 22 years of practice in the United States Bankruptcy Court, bankruptcy being her primary expertise. She can offer you expert advice on the best time to file, help you determine whether Chapter 7 or Chapter 13 is in your best interest, and make sure that all of the requirements for filing are met and error-free so that your bankruptcy proceedings will go smoothly from start to finish.
Birmingham bankruptcy filing
Both bankruptcy filings follow the same steps:
1. First, you and your attorney determine the bankruptcy program that will help you solve your financial problems.
2. Your bankruptcy attorney prepares the documents necessary to file the bankruptcy petition.
3. After the documents are complete, your bankruptcy attorney files these documents with the U. S. District Court, Bankruptcy Division, in the Birmingham area if you live in Jefferson, Blount, or Shelby Counties. Other Bankruptcy Courts are located in Tuscaloosa, Jasper, Anniston, and Gadsden. Cindee can assist you in these areas as well..
4. Once the court accepts your bankruptcy petition, your creditors receive notice of your filing and when the Meeting of Creditors is scheduled to take place. Any and all of your creditors may attend this meeting and question you about your debt, your assets, and your general financial status. Your attorney will be present to represent and assist you.
5. For most people, the Meeting of Creditors is the only court appearance required.
6. If you are filing a Chapter 13, a confirmation hearing is also required. At this hearing the judge approves the payment plan you and your attorney have worked out.
For professional help in resolving your bankruptcy issues, rely on the Law Firm of Cindee Dale Holmes. She can review your financial picture with you and help you determine the most beneficial way to manage your debt. She has 22 years of litigation experience in both Chapter 7 and Chapter 13 bankruptcies. She will help you explore both options and discover if one of these bankruptcy provisions may offer the relief you need from your financial worries.
Experienced Bankruptcy Lawyer – Cindee Dale Holmes
Please call or email the office today to make an appointment for a free consultation with Cindee Dale Holmes.
