Bankruptcy-Chapter 7 Dunaway Attorneys at Law Birmingham Alabama

Bankruptcy

American Consumers Crushed By Household Debt
Posted by: Matthew Dunaway
April 14, 2008

According to a recent article in Businessweek by Michael Mandel, household debt in the U.S., and around the world, has exploded in the last seven years to almost 14 trillion dollars; yes, that's trillion with a "t". By comparison, had household debt continued its pace of the 90's, the total would "only" be around 11 trillion dollars.

After all the talk about Congress passing laws to restructure mortgages in hopes of averting an all out collapse of the housing market, many policy makers seem to have ignored the proverbial "elephant in the room"...consumers have too much debt.

Can I Keep My Home If I File Chapter 7 Bankruptcy In Alabama?
Posted by: Matthew Dunaway
March 20, 2008

Most people do not loose their home or car when they file bankruptcy. Many people considering the bankruptcy option are under the false impression that if they file bankruptcy, they will loose their home and car. This is not necessarily true. In most bankruptcy cases, even in Alabama, debtors have the option of keeping their home and car. If the debtor is allowed and decides to keep the home or car, he must continue making monthly payments to the creditor. The other option is to surrender the home or car to the creditor.

Chapter 7 Bankruptcy in Birmingham Alabama after BAPCPA
Posted by: Matthew Dunaway
July 31, 2007

It is approaching the two year anniversary since the new bankruptcy legislation (BAPCPA) went into effect. Has it changed how the typical consumer debtor files for bankruptcy or whether chapter 7 bankruptcy is an option? I am asked this question every day, so I decided to write a post covering those two basic questions.

I will answer the second question first, because it is asked most often and has the shortest answer. Filing chapter 7 bankruptcy is still available for most consumers. Before BAPCPA was passed and since then, most people seem to think that chapter 7 bankruptcy is not an option any longer. This is absolutely untrue. Most people who were eligible to file chapter 7 bankruptcy under the old law are still eligible to file under the new bankruptcy law. Since the new law was passed, I have met with only one person who was unable to file under the new bankruptcy law, but would have been able to file under the old bankruptcy law.

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Matthew A. Dunaway helps consumers and debtors file Chapter 7 Bankruptcy in Birmingham, Alabama and throughout the state of Alabama...Birmingham, Hoover, Montgomery, Mobile, Huntsville, Decatur, Tuscaloosa, Anniston, Gadsden, Florence, Cullman, Auburn.