Selma Bankruptcy Lawyers & Attorneys
Call us today at (334) 782-9938!
We are currently charging $850 for most Chapter 7 bankruptcy filings in Montgomery, Alabama. If you need some debt relief then call us to speak with one of our Montgomery bankruptcy lawyers today.
Filing for Bankruptcy in Selma
Overwhelming debt is a common problem for many people. In these cases, if you see no way out, the U.S. Bankruptcy Code is an option. Filing for protection under this could be your best bet, depending on your particular financial situation. For those fighting an uphill battle financially and do not see a way out of it, then contact Selma bankruptcy lawyers.
Life changing events like divorce, injuries, loss of a job, or even certain personal difficulties often cause people to go through a difficult period in their life, resulting in their need to file for bankruptcy. These types of situations can cause anyone to go through a tough financial time and spiral into debt so quickly that they are in over their head before they realize it.
If most of your debts are unsecured (meaning that the debts are not secured by property such as a house or vehicle), and they are not student loans, child support, recent tax debts, or certain other specially protected debts, then you may be able to file a Chapter 7 bankruptcy. This type of bankruptcy can eliminate your obligation to pay these types of debts very quickly, with most Chapter 7 cases lasting about three months. At the end of the case you will receive something called a discharge, eliminating these debts and giving you a fresh financial start.
That ability to eliminate debts so quickly is what makes a Chapter 7 bankruptcy so powerful. In order to file this type of bankruptcy you must qualify, and in order to qualify there is an income based test that is applied. The test is based on your average gross monthly income for the six months prior to filing. Our Montgomery bankruptcy lawyers can perform this test in person or over the phone, and help determine whether you can qualify for a Chapter 7 bankruptcy.
Filing for Bankruptcy in the Selma, Alabama Area
For residents of Selma and the other areas of Dallas County, your bankruptcy will be filed in the United States District Court, Middle District of Alabama. In a Chapter 7 bankruptcy, there is a Meeting of the Creditors you will need to attend. If you live in the City of Selma then your bankruptcy hearing will be in downtown Montgomery.
Our Selma bankruptcy lawyer will attend the meeting with you, where there will be a sole trustee present and no judge. The trustee will ask you questions under oath to ensure you are telling the truth about your assets, income, and all other information in your bankruptcy schedules and petition. The Trustee will usually just ask a few questions concerning your assets and income at this Meeting of the Creditors.
If you have substantial assets or a large amount of equity in your home, vehicles or other property. Chapter 7 bankruptcy will likely not be best option for you. Should you not qualify for a Chapter 7 or have certain unprotected assets, you’ll need to file a Chapter 13 bankruptcy instead. This is basically a five year payment plan, where you repay all or some of your debts over time. If you call today, one of our attorneys can talk to you to determine what type of bankruptcy is best for your financial situation.
The Harris Firm is a member of Montgomery Chamber of Commerce and the Central Alabama Better Business Bureau. If you are considering filing for debt relief, then call our Selma bankruptcy attorneys today and let us counsel you and your family through this difficult financial time.