Top Hoover, AL Business Bankruptcy Lawyers Near You
600 University Park Place, Suite 100, Birmingham, AL 35209
420 North 20th Street, Suite 3400, Birmingham, AL 35203
1500 Urban Center Drive, Suite 450, Birmingham, AL 35242
3940 Montclair Road, Suite 401, Birmingham, AL 35213
1901 6th Ave North, Suite 2600, Birmingham, AL 35203
1000 Urban Center Dr, Ste 115, Vestavia Hills, AL 35242
1801 5th Avenue North, Suite 400, Birmingham, AL 35203
109 North 20th Street, 4th Floor, PO Box 11405, Birmingham, AL 35203-1405
1819 5th Avenue North, One Federal Place, Birmingham, AL 35203-2119
15 Southlake Lane, Ste 140, Birmingham, AL 35244
505 North 20th Street, Suite 1800, Birmingham, AL 35203
1901 Sixth Avenue North, Suite 1500, Birmingham, AL 35203-4644
505 20th Street North, Suite 1200, Birmingham, AL 35203
1130 22nd Street, South, Suite 3000, Birmingham, AL 35205
One Federal Place, Ste. 1000, 1819 Fifth Avenue North, Birmingham, AL 35203
2227 1st Avenue South, Suite 100, Birmingham, AL 35233
1901 6th Avenue North, Suite 1110, Birmingham, AL 35203
1904 1st Ave N, Suite 300, Birmingham, AL 35203
2100 Southbridge Pkwy, Suite 660, Birmingham, AL 35209
2311 Highland Avenue South, Suite 500, Birmingham, AL 35205
Two North Twentieth Street, Suite 1310, Birmingham, AL 35203
420 North 20th Street, Suite 2200, Birmingham, AL 35203
100 Corporate Pkwy, One Lake Level, Birmingham, AL 35242
2001 Park Place North, Suite 870, Birmingham, AL 35203
2019 3rd Avenue North, Birmingham, AL 35203
Hoover Business Bankruptcy Information
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What Is Bankruptcy?
Bankruptcy is a legal process that allows people to get out from under debts that are causing serious financial harm. Through the bankruptcy process, you may be able to get rid of debts like medical bills, credit card bills, and other unsecured debts. Factors such as your income and whether you have assets that you can sell to pay off some of the debts are taken into account when filing for bankruptcy and will determine what happens.
What Happens When I File for Bankruptcy?
When you file for bankruptcy, you will be under a federal bankruptcy court’s supervision and protection. During this time, you, your lawyer, the court, and your creditors will work on a plan for discharging your eligible debts. Collectors will also be unable to repossess property and garnish your wages or bank accounts during this time.
How Much Does It Cost To File for Bankruptcy?
There is no easy answer to this question. The ultimate cost will be a mix of court filing fees and what you owe your attorney for guiding you through the process. What you owe will depend on how complicated your case is and whether there are any prolonged disputes with creditors. Most likely, however, the debt relief that comes with bankruptcy will outweigh any fees.
How Long Does Bankruptcy Stay on Your Credit Report?
A Chapter 7 bankruptcy filing will stay on your credit report for up to 10 years, while a Chapter 13 will remain for up to seven years. A bankruptcy filing will also harm your credit score. However, if you need to file for bankruptcy, it’s likely your score is not that high anyway, and your bankruptcy will give you a chance at a fresh start and time to rebuild your credit score.