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Jul 18
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Opelika’s Bankruptcy Attorney

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Navigating the Bankruptcy process is intimidating, stressful, and often emotionally draining. Trusting an experienced expert in the process like David S. Clark helps alleviate the stress and pressure of the situation.

Facing bankruptcy in Opelika can be a lonely and challenging process. Thankfully, there are legal experts with experience in navigating the bankruptcy process in Opelika that can help you with your financial situation. David S. Clark and his team have over 25 years of experience in assisting Opelika residents get back on their feet during bankruptcy. Let’s take a look at some of the key services that David S. Clark offers to help with bankruptcy in Opelika, AL.

DISCLAIMER: The following blog post is just advice, and you will be better served to call David S. Clark with your bankruptcy questions. This blog contains helpful tips and advice, but is not professional legal advice, and shouldn’t treated as such.

Need Bankruptcy Help? Call David S. Clark

Chapter 7 Bankruptcy in Opelika

Despite what you may think, Chapter 7 Bankruptcy is quite common across the country, as well as in Alabama and Opelika. In fact, Chapter 7 Bankruptcy is the most commonly filed bankruptcy in America. David S. Clark has been serving the Opelika area’s need for legal counsel in Chapter 7 Bankruptcy for years, and is very experienced and knowledgeable in the process. 

Chapter 7 Bankruptcy in Opelika typically entails liquidation of your assets in an effort to help repay debt that can’t otherwise be paid. This can include credit card balances, medical bills, loans, utility bills, mortgages, and more. However, Chapter 7 Bankruptcy does not resolve certain other debts, including student loans, child support, alimony, and more. 

Chapter 13 Bankruptcy in Opelika

Next to Chapter 7 Bankruptcy, Chapter 13 Bankruptcy is also one of the most common forms of bankruptcy filed in Alabama. Rather than focusing on liquidating assets to help alleviate debt like in Chapter 7 Bankruptcy, Chapter 13 Bankruptcy is focused on repaying debts under a repayment plan while you keep certain assets throughout the process. 

Based on factors including income level, assets, expenses, and more, a dedicated bankruptcy attorney creates a repayment plan for you. These plans are typically outlined to take place over the course of 3-5 years time. This allows you to make dedicated payments towards your debt without losing everything that you have.

 

Bankruptcy Law in Opelika

Navigating the Bankruptcy process is intimidating, stressful, and often emotionally draining. Trusting an experienced expert in the process like David S. Clark helps alleviate the stress and pressure of the situation. Bankruptcy lawyers and attorneys can help you get back on your feet after hitting financial hardships. When your debt becomes overwhelming and unmanageable, Bankruptcy can be a way to help give you a chance to start again, moving forward with new spending habits and a higher level of fiscal responsibility.

David S. Clark: Opelika’s Bankruptcy Attorney

If you are considering filing Bankruptcy in Opelika, whether Chapter 7, Chapter 13, or you are unsure, consider stopping by for a free consultation with David S. Clark. David is knowledgeable and experienced at representing and guiding Opelika residents through the bankruptcy process, helping them to get back on their feet and start again. Contact us today for more information or to schedule a free consultation at our office in Opelika.

Come see Opelika’s Bankruptcy Attorney, David S. Clark, and begin the journey to gaining financial stability today.

DISCLAIMER: The above blog post is just advice, and you will be better served to call David S. Clark with your bankruptcy questions. This blog contains helpful tips and advice, but is not professional legal advice, and shouldn’t treated as such.

Jun 28
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How to Choose the Right Bankruptcy Attorney in Opelika

By Bankruptcy Law No Comments

How to Choose the Right Bankruptcy Attorney in Opelika

Though it doesn’t come as a surprise, filing for Chapter 7 or Chapter 13 bankruptcy is quite a significant decision, and perhaps the most crucial part of the process is choosing the “right” bankruptcy attorney. So, if you’re overwhelmed by the weight of debt and considering Chapter 7 or Chapter 13 bankruptcy and looking for a bankruptcy attorney who understands your wants and needs, here is a breakdown of how to choose the “right” attorney for you from the team at David S. Clark in Opelika. 

DISCLAIMER: The following blog post is just advice, and you will be better served to call David S. Clark with your bankruptcy questions. This blog contains helpful tips and advice, but is not professional legal advice, and shouldn’t treated as such.

Need Bankruptcy Help? Call David S. Clark

1. Look for Specialization in Bankruptcy Law

Like other types of law, bankruptcy law includes many different types, or “chapters” as they’re more commonly known. Personal bankruptcy spans across two main chapters: Chapter 7 and Chapter 13. So, in your search for a bankruptcy attorney, seek a lawyer who specializes in those chapters, and ensure they can provide expert guidance tailored to your unique financial situation. 

2. Check Qualifications and Experience

When it comes to bankruptcy law, an attorney’s qualifications and experience are paramount. Take time to research attorneys in the Auburn and Opelika areas. Look into their education, bar admissions, and any additional certifications necessary for bankruptcy law. Ultimately, experience matters, because an attorney who understands the legal landscape of Chapter 7 and Chapter 13 bankruptcy can not only help you navigate the entire process but also lead to a higher success rate in terms of your unique bankruptcy process. 

3. Read Client Reviews and Testimonials

Yet, how can you judge a bankruptcy attorney’s experience? One of the main ways is to look into client reviews and testimonials. These offer valuable insights into an attorney’s reputation as well as the overall quality of the services they provide. Pay attention to feedback about their responsiveness, communication skills, and overall client satisfaction. Positive reviews from clients who had cases similar to yours can be particularly reassuring.

4. Schedule Initial Consultations

Most bankruptcy attorneys offer free initial consultations. Use this opportunity to meet with potential attorneys and gauge their compatibility. Here is a quick list of a few questions to ask to better determine if an attorney is the right fit:

  • How many Chapter 7 and Chapter 13 cases have you handled?
  • What is your success rate in bankruptcy cases?
  • How do you keep clients informed throughout the process?
  • What are your fees, and what services do they cover?

5. Consider Local Knowledge

Choosing an attorney with local knowledge can be advantageous. They will be familiar with the specific bankruptcy trustees, judges, and court procedures in Opelika. This local insight can help streamline your case and potentially lead to better outcomes.

6. Trust Your Instincts

Finally, make sure to trust your instincts. Make sure that you feel confident and comfortable with the decisions you make, and choose a bankruptcy attorney who not only understands the legal landscape around you but understands you.

David S. Clark – Your Bankruptcy Attorney in Opelika

From his many valuable years of experience serving the Auburn and Opelika, Alabama community, David S. Clark is knowledgeable and prepared to help you start your journey back to financial security. If you need help navigating the stress, intricacies, and complexities of Chapter 7 or Chapter 13 Bankruptcy, contact David S. Clark, Attorney at Law today!

DISCLAIMER: The above blog post is just advice, and you will be better served to call David S. Clark with your bankruptcy questions. This blog contains helpful tips and advice, but is not professional legal advice, and shouldn’t treated as such.

Jun 21
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How to Navigate Bankruptcy in Opelika

By Bankruptcy Law No Comments

How to Navigate Bankruptcy in Opelika

Filing for bankruptcy in Alabama can be an overwhelming and daunting process, but it can also provide a “second chance” for those struggling with debt. If you’re a resident in Auburn or Opelika and considering filing for bankruptcy, understanding the steps involved can not only help ease your concerns but also prepare you for the journey ahead. Here is a step-by-step guide on how to navigate the bankruptcy process from David S. Clark, a Chapter 7 and Chapter 13 bankruptcy attorney based in Opelika, Alabama.

DISCLAIMER: The following blog post is just advice, and you will be better served to call David S. Clark with your bankruptcy questions. This blog contains helpful tips and advice, but is not professional legal advice, and shouldn’t treated as such.

Need Bankruptcy Help? Call David S. Clark

  1. Evaluate Your Financial Situation

Before taking steps to file for bankruptcy, it’s essential to assess and get an overview of your financial situation. Look through your debts, income, monthly expenses, and assets. Ultimately, understanding your financial “position” will help determine which chapter of personal bankruptcy could be right for you. 

As a quick note, personal bankruptcy typically falls between two “chapters”. These include Chapter 7 Bankruptcy and Chapter 13 bankruptcy, both of which include different steps, qualifications, and overall impact on your financial situation. Here is a great breakdown of those chapters from David S. Clark! 

  1. Seek Professional Advice

Perhaps the most crucial step in the process is consulting with a qualified personal bankruptcy attorney in Opelika or Auburn, Alabama. A bankruptcy attorney can not only provide expert guidance throughout the bankruptcy process, but also help you make the most informed decisions for your unique financial situation. 

It is important to remember that your bankruptcy case is unique and will look incredibly different from another. So, taking the time to talk with a bankruptcy attorney who understands personal bankruptcy and bankruptcy law in Alabama is key. 

  1. Gather Required Documentation

Filing for bankruptcy requires extensive documentation. You’ll need to collect and organize the following:

  • Recent tax returns
  • Pay stubs and proof of income
  • Bank statements
  • Lists of all debts, including credit cards, loans, and medical bills
  • Records of property and assets
  • Monthly living expenses

Having these documents ready will streamline the filing process and ensure that your bankruptcy petition is complete and accurate.

Your dedicated bankruptcy attorney can also help you access these key documents. Yet, it is essential that you are open and honest throughout the process. Hiding documents, debts, or assets can ruin any chance of your bankruptcy process being successful.  

  1. File the Bankruptcy Petition

With the help of your dedicated personal bankruptcy attorney, you’ll prepare and file your bankruptcy petition with the bankruptcy court in Alabama. This petition includes detailed information about your debts, assets, income, and any other pertinent financial information. This filing officially starts the bankruptcy process and also triggers an “automatic stay”, which halts collection activities and protects you from creditors. 

For more information on the automatic stay, click here! 

  1. Receive Your Bankruptcy Discharge

Depending on which chapter pf bankruptcy you filed for (typically under Chapter 7), you could receive a discharge of your eligible debts within three to six months after filing. For Chapter 13, debt discharge occurs after you complete your court-mandated repayment plan, which lasts for three to five years. 

Ultimately, debt discharge releases you from the liability for most debts, providing a fresh financial start. 

David S. Clark, Your Personal Bankrupty Attorney in Opelika

While this is a guide on how to navigate bankruptcy, it is essential to remember that every bankruptcy case is different, and the process is definitely longer than a blog post can describe. Yet, if you’re looking for financial freedom and facing overwhelming debt, bankruptcy can provide a second chance. With the help of an experienced bankruptcy attorney, like David S. Clark, you can not only have an advocate, but a friend to encourage you through the entire process. 

If you’re an Opelika or Auburn, Alabama resident struggling with the weight of overwhelming debt and seeking the financial advice, wisdom, and encouragement of an experienced bankruptcy attorney, contact David S. Clark today!

DISCLAIMER: The above blog post is just advice, and you will be better served to call David S. Clark with your bankruptcy questions. This blog contains helpful tips and advice, but is not professional legal advice, and shouldn’t treated as such.

May 22
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Chapter 7 & Chapter 13 Bankruptcy FAQ

By Bankruptcy Law No Comments

While the complexities of bankruptcy naturally lead to many questions or concerns, it can be your ticket to a second chance financially.

If you’re an Auburn or Opelika resident struggling with the weight of debt, bankruptcy can seem like a daunting option. Yet, while the complexities of bankruptcy naturally lead to many questions or concerns, it can be your ticket to a second chance financially. 

Whether you’re considering Chapter 7 or Chapter 13 bankruptcy as a way to manage your debt or simply want to learn more about the process, here are some of the most commonly asked questions about personal bankruptcy to better help you understand the process and make informed decisions about your financial future from David S. Clark, an experienced personal bankruptcy attorney in Opelika, Alabama. 

DISCLAIMER: The following blog post is just advice, and you will be better served to call David S. Clark with your bankruptcy questions. This blog contains helpful tips and advice, but is not professional legal advice, and shouldn’t treated as such.

Need Bankruptcy Help? Call David S. Clark

Will I Lose My Home if I File for Bankruptcy?

Losing a valuable asset, such as a home, is a significant concern for many Alabama residents under the weight of enormous debt. Thankfully, the outcome of your home depends on several factors, including the type or “chapter” of bankruptcy you file for (as discussed below), the amount of equity in your home, and more. 

If you file for Chapter 7 bankruptcy, your home may be at risk if you have a significant amount of equity in it. However, if you file for Chapter 13 bankruptcy, you may be able to keep your home as long as you continue making payments under the court-approved repayment plan. 

Ultimately, when it comes to any chapter of bankruptcy, every case is going to be different, so it is essential to communicate with an experienced personal bankruptcy attorney on the best options that could protect your home. 

Will Bankruptcy Stop Debt Collection Harassment?

Under Section 524 of the U.S. Bankruptcy Code, once your debt is discharged through bankruptcy, no one can take action against you. This protection, known as the “automatic stay,” is immediately enforced by the bankruptcy court when you file for bankruptcy.

The automatic stay prohibits creditors from contacting you about any discharged debt. They cannot call, email, visit, or make any attempt to collect a debt from you. However, it’s important to note that not all debts are discharged through bankruptcy.

When Should I File for Bankruptcy?

Unfortunately, when it comes to bankruptcy, there is no simple answer to this question as it depends on your individual circumstances. Generally speaking, if you’re struggling with overwhelming debt and are unable to make timely payments, it may be time to consider filing for bankruptcy. 

Other instances could include situations where you’re facing foreclosure, wage garnishment, or constant harassment from creditors. However, it is important to note that filing for bankruptcy should not be taken lightly, and seeking the counsel of an experienced bankruptcy attorney first is essential.

David S. Clark – A Local Lawyer Dedicated to You

As mentioned throughout this blog, every personal bankruptcy case is different, especially when it comes to the complexities of Chapter 7 and Chapter 13 bankruptcy. Thankfully, you don’t have to navigate this challenging process alone. 

If you are an Auburn or Opelika resident ready to file for Chapter 7 or Chapter 13 bankruptcy or simply seeking financial advice from an experienced bankruptcy attorney, contact David S. Clark, an experienced bankruptcy attorney in Opelika, Alabama today!

DISCLAIMER: The above blog post is just advice, and you will be better served to call David S. Clark with your bankruptcy questions. This blog contains helpful tips and advice, but is not professional legal advice, and shouldn’t treated as such.

May 09
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The Benefits of Hiring a Local Bankruptcy Lawyer in Opelika

By Attorneys & Lawyers, Bankruptcy Law No Comments

Here are a few of the advantages of hiring a local bankruptcy attorney from David S. Clark, a Chapter 7 and Chapter 13 bankruptcy attorney in Opelika, Alabama.

In times of overwhelming debt, navigating the complexities of Chapter 13 or Chapter 7 bankruptcy can be extremely daunting. Thankfully, seeking the guidance of a personal bankruptcy attorney can make all the difference. Here are a few of the advantages of hiring a local bankruptcy attorney from David S. Clark, a Chapter 7 and Chapter 13 bankruptcy attorney in Opelika, Alabama.

DISCLAIMER: The following blog post is just advice, and you will be better served to call David S. Clark with your bankruptcy questions. This blog contains helpful tips and advice, but is not professional legal advice, and shouldn’t treated as such.

Need Bankruptcy Help? Call David S. Clark

In-Depth Knowledge of Opelika’s Legal Environment

One of the greatest benefits of hiring a local-based bankruptcy lawyer is their intimate familiarity with Auburn and Opelika’s specific legal framework. Ultimately, from understanding local court procedures, a personal bankruptcy attorney possesses insights that can significantly streamline the bankruptcy process for any individual looking for the second chance bankruptcy can provide. 

Personalized Legal Strategies

Much like a snowflake, every bankruptcy case is extremely unique, and what works within one case may not work in another. Thankfully, an experienced Chapter 7 or Chapter 13 bankruptcy attorney understands the legal framework around specific chapters of bankruptcy, ensuring individuals receive personalized guidance that suits their personalized circumstances. 

Accessibility and Convenience

With a personalized plan comes easy access to face-to-face consultations as well as timely updates on case developments. This allows individuals in the bankruptcy process to have peace of mind that their case is going well, and every step is handled correctly. 

Comprehensive Understanding of Local Resources

Beyond legal expertise and personalized Chapter 7 or Chapter 13 bankruptcy strategies, local personal bankruptcy attorneys are well-versed in the resources available to support Opelika residents facing financial hardship. Whether it’s connecting clients with local credit counseling services or providing referrals to financial advisors, they offer holistic support to help individuals navigate the path to financial recovery.

Peace of Mind Through Personalized Support

Facing bankruptcy can be emotionally taxing, but having a local bankruptcy lawyer by your side provides much-needed peace of mind. From the initial consultation to the resolution of your case, they offer compassionate support and guidance every step of the way, empowering you to navigate the complexities of bankruptcy with confidence.

David S. Clark – Your Chapter 7 & Chapter 13 Bankruptcy Attorney

In conclusion, the benefits of hiring a local bankruptcy lawyer in Opelika extend far beyond legal expertise. From tailored strategies and accessibility to local resources and personalized support, local attorneys are invaluable allies for individuals seeking a second chance in the form of Chapter 7 or Chapter 13 bankruptcy. 

David S. Clark is an Opelika-based Chapter 7 and Chapter 13 bankruptcy attorney who understands the hardships and often confusing nature that surrounds Alabama’s bankruptcy playing field. If you’re looking for relief from the overwhelming debt surrounding you, contact the experienced team at David S. Clark today! 

DISCLAIMER: The above blog post is just advice, and you will be better served to call David S. Clark with your bankruptcy questions. This blog contains helpful tips and advice, but is not professional legal advice, and shouldn’t treated as such.

Apr 22
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Top 5 Common Bankruptcy Mistakes to Avoid in Opelika

By Bankruptcy Law No Comments

Here are the top five common bankruptcy mistakes to avoid from David S. Clark, an experienced Chapter 7 and Chapter 13 bankruptcy attorney in Opelika, Alabama.

Bankruptcy can often be a complex and emotionally draining process, but it’s often the best solution for individuals facing overwhelming debt in Auburn or Opelika, Alabama. Whether you’re considering Chapter 7 or Chapter 13 bankruptcy, navigating the legal landscape requires careful planning and avoiding a few common mistakes. Here are the top five common bankruptcy mistakes to avoid from David S. Clark, an experienced Chapter 7 and Chapter 13 bankruptcy attorney in Opelika, Alabama. 

DISCLAIMER: The following blog post is just advice, and you will be better served to call David S. Clark with your bankruptcy questions. This blog contains helpful tips and advice, but is not professional legal advice, and shouldn’t treated as such.

Need Bankruptcy Help? Call David S. Clark

Failing to Seek Professional Guidance Early

Perhaps one of the largest mistakes Alabama residents make in the bankruptcy process is waiting too long to seek the advice of a dedicated bankruptcy attorney. Delaying this process can not only lead to missed opportunities for debt relief but potentially cause the bankruptcy process to fail altogether. 

By consulting with an experienced bankruptcy attorney early on, you can gain a clear understanding of your options, such as which bankruptcy chapter is right for you, and make informed decisions about your financial future. Furthermore, by seeking bankruptcy guidance early, most of the mistakes mentioned below can easily be mitigated. 

Incorrectly Valuing Assets

Another common mistake in the bankruptcy process is undervaluing or overvaluing assets. Whether it’s a home, car, or other personal belongings, assessing the value of your assets accurately is crucial to determining exemption eligibility. An experienced bankruptcy attorney can help you navigate this complex process while maximizing your exemptions under Alabama law. 

A bankruptcy attorney can also help you protect your assets. For more information, click here!

Neglecting to Disclose All Debts

When it comes to bankruptcy, transparency is key. Yet, more often than not, residents in Opelika or Auburn make the mistake of omitting certain debts or financial transactions to protect assets. However, failure to disclose all debts can result in serious legal consequences, such as a dismissal of your case or even accusations of fraud. 

Ultimately, it is crucial to provide full disclosure of your financial history with your Opelika bankruptcy attorney to ensure a smooth process. 

Choosing the Wrong Type of Bankruptcy

Chapter 7 and Chapter 13 bankruptcy serve different purposes, and selecting the wrong type for your financial situation can have lasting consequences. Here is a great article that breaks down the differences. Yet, it is imperative to consult with a qualified bankruptcy attorney who can help you determine the most appropriate bankruptcy chapter for your unique circumstances. 

David S. Clark – Your Chapter 7 and Chapter 13 Bankruptcy Attorney in Opelika

In conclusion, and as obvious by a few of these mistakes, bankruptcy is a complex process that requires a deep knowledge and wisdom of the way it works. 

David S. Clark is an experienced Chapter 7 and Chapter 13 bankruptcy attorney who not only seeks to navigate the complexities of bankruptcy for you but does so in a way that builds financial peace in you and your family’s life. For more information, contact our Opelika office today! 

DISCLAIMER: The above blog post is just advice, and you will be better served to call David S. Clark with your bankruptcy questions. This blog contains helpful tips and advice, but is not professional legal advice, and shouldn’t treated as such.

Apr 11
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Budgeting Tips to Prevent Bankruptcy

By Financial Tips No Comments

The best way to prevent bankruptcy is through fiscal responsibility. Building healthy budgeting routines is one of the keys to staying above water with your finances.

Finding balance with your finances can be a challenging pursuit. When spending gets out of control or simply more than you can afford, bankruptcy could be looming. That’s why it’s so important to develop positive financial skills like responsible budgeting to help prevent bankruptcy. Here are some of the most effective and simple budgeting tips for you to implement when looking to prevent bankruptcy.

DISCLAIMER: The following blog post is just advice, and you will be better served to call David S. Clark with your bankruptcy questions. This blog contains helpful tips and advice, but is not professional legal advice, and shouldn’t treated as such.

Need Bankruptcy Help? Call David S. Clark

Live Within Your Means

Living a life of financial excess can seem tantalizing, but maintaining responsible spending habits and staying out of debt is a much more critical and rewarding practice. Know your financial means, and don’t spend beyond them. Learn to say no to certain expenses in order to save money and avoid bankruptcy. One of the easiest ways to fall into bankruptcy in Alabama is to live outside of your means.

Paying down debt, such as credit card debt, medical debt, or housing money that you owe is a much more worthwhile practice than spending incessantly on unnecessary luxuries. The effects of bankruptcy can be difficult and long lasting, so learning to budget effectively is crucial. Living within your means leads to a more enjoyable life in the long run. Without having the threat of debt and bankruptcy looming over your shoulder, you will have the peace of mind that allows you to enjoy life more freely. 

Set a Grocery/Food Budget

Tracking how much money you typically spend at the grocery store and eating out per week is a great first step. Once you establish your typical spending habits, you can analyze them and see where you can start to save. Bankruptcy can sneak up on you if you don’t prepare for it, so be sure to plan accordingly. 

Look for ways to cut down on food spending. Some common ways to save money and avoid bankruptcy are limiting the number of times you eat out per week, bringing lunch to work, changing your diet, and more. By tracking how much you have been spending and finding ways to lower the amount of money you spend on food, you will be taking a valuable step in preventing bankruptcy.

A good ballpark to aim for is to not spend more than 10-15% of your take-home income on food, depending on your needs. By setting a fixed budget for food, you will be less prone to impulsive spending, thereby saving more money. Remember, setting a grocery budget won’t save you money unless you stick to it. Hold yourself and your family accountable and encourage each other to join in the mission of lowering the risk of bankruptcy.

 

Budget for Your Place of Living

A general rule of thumb is that your home should cost you no more than 30% of your income. This is important to keep in mind when preventing bankruptcy, as home payments and rent can be some of the most expensive you will typically have. Apply this general budgeting rule and see if your current living situation fits it or not. If you are spending too much of your income on housing, changing to a more affordable situation can be a worthwhile method of preventing future bankruptcy. 

This method of preventing bankruptcy can be more challenging than others due to limited options & other reasons. It can also require more effort than some of the more instant and easy methods of saving money on this list, but because of the potentially high dollar amount you may be spending on rent or house payments, it is absolutely an aspect of your budget that needs to be examined to best help prevent bankruptcy in the future.

 

Be Aware of Your Spending

One quick way to lose money and increase the risk of bankruptcy is by being unaware of repeating services and subscriptions that you are automatically charged for. Streaming services, online journals, magazine subscriptions & more can easily be forgotten about and begin accumulating heavy payments without immediately being noticed. Make sure you monitor your credit and debit card usage through online tracking systems to make sure you aren’t being charged for services that you don’t use.

Consider the monthly paid subscriptions that you currently pay for, and look to see if you could go without any of them, especially if they are expensive. Free trials that then automatically roll into paid subscriptions are common causes of financial hardships. Be aware of your spending so that bankruptcy doesn’t unexpectedly creep up on you. 

 

Adopt Healthy Saving Habits

Everyone’s budget is different, but try consistently putting money away for an emergency, even if the amount is small. Setting a routine saving plan for every paycheck is a great way to consistently save money that can be used in the case of a financial emergency. Another good rule of thumb is to try saving 20% of your monthly income every month. Building up a healthy amount of savings is a great way to prevent bankruptcy and other potential financial hardships.

David S. Clark: Auburn and Opelika’s Experienced Bankruptcy Attorney

Developing strong budgeting habits and fiscal responsibility is one of the most effective and important ways to prevent bankruptcy in Alabama. If you have financial difficulties and face the possibility of bankruptcy in Auburn or Opelika, Alabama, David S. Clark can help you find relief. Don’t face the burden of bankruptcy alone.

Whether you are seeking to file for Chapter 7 or Chapter 13 bankruptcy, David S. Clark can help you every step of the way. For more information, contact David S. Clark today!

DISCLAIMER: The above blog post is just advice, and you will be better served to call David S. Clark with your bankruptcy questions. This blog contains helpful tips and advice, but is not professional legal advice, and shouldn’t treated as such.

Mar 29
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Top 4 Causes of Unplanned Bankruptcy

By Bankruptcy Law, Financial Tips No Comments

The post-COVID world is seeing an unprecedented rise in bankruptcy cases across the country. Now that many of the COVID regulated bankruptcy stays have been lifted, and federal grant programs are no longer providing cash-on-hand, many people are filing for bankruptcy. Know that you are not alone in your financial crisis, and that if you’ve experienced any of these 4 things, you are in the most common situation for people needing a local bankruptcy law firm. These bankruptcy causes are some of both the most common causes of bankruptcy, but also the areas we, with David S. Clark, are the most familiar with.

DISCLAIMER: The following blog post is just advice, and you will be better served to call David S. Clark with your bankruptcy questions. This blog contains helpful tips and advice, but is not professional legal advice, and shouldn’t treated as such.

Need Bankruptcy Help? Call David S. Clark

Medical Expenses

Medical expenses rank among the leading causes of bankruptcy nationwide. Even with insurance coverage, the financial strain of a serious illness or injury can be overwhelming for any family, regardless of how many bread-winners are in the home. When medical bills pile up, seeking guidance from a local bankruptcy attorney can provide clarity on your options and help you navigate the complexities of bankruptcy law with ease.

Job Loss

Losing a job or experiencing a significant reduction in income can send shockwaves through your financial well-being. No one plans on losing a job, but when it happens, it’s important to understand that there is still a path forward to financial recovery with a bankruptcy attorney that’s experienced in this sort of crisis situation.

Excessive Debt

The elephant in the room, excessive debt, whether from credit cards, loans, or mortgages, can weigh heavily on your financial health. If you’re struggling to keep up with monthly payments, consulting with a local bankruptcy attorney can provide insights into how bankruptcy can offer a fresh start and relief from overwhelming debt burdens. Many people have noble and good intentions for their debt. Owning a home is a noble pursuit, but many times people find themselves in a financial situation where the home they want isn’t the home they can afford. A bankruptcy law firm that’s familiar with the local real estate market can make a dramatic impact in the quality of legal services offered.

Divorce

Divorce or separation can bring emotional and financial challenges, often leading to bankruptcy for those involved. With local legal expertise, a bankruptcy attorney can guide you through the complexities of asset division, alimony, and child support payments, helping you protect your financial interests during this difficult time.

Even if your particular situation doesn’t line up with these 4 most common causes for bankruptcy, the experienced and professional help of the attorneys with David S. Clark can help you get back on your feet. As one of the highest rated attorneys in the Auburn/Opelika area according to Google, we are proud to offer our services to anyone that needs our help.

DISCLAIMER: The above blog post is just advice, and you will be better served to call David S. Clark with your bankruptcy questions. This blog contains helpful tips and advice, but is not professional legal advice, and shouldn’t treated as such.

Feb 13
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Navigating the Chapter 13 Bankruptcy Process

By Chapter 13 Bankruptcy No Comments

A guide to Chapter 13 bankruptcy

Are you facing overwhelming debt and considering Chapter 13 bankruptcy as a solution? Navigating the Chapter 13 bankruptcy process can be complex, but with the right guidance from a dedicated Chapter 13 bankruptcy attorney, you can regain control of your finances and pave the way to a fresh start. Here is a breakdown of the Chapter 13 bankruptcy process from David S. Clark, an experienced bankruptcy attorney in Opelika, Alabama.

Understanding Chapter 13 Bankruptcy

Before breaking down the process of Chapter 13 Bankruptcy, it is essential to understand what it is. Chapter 13 bankruptcy, often referred to as a “wage earner’s plan,” allows individuals with regular income to restructure their debts while keeping their property. Unlike Chapter 7 bankruptcy, which involves liquidating assets to pay off creditors, Chapter 13 creates a manageable repayment plan based on your income and expenses.

DISCLAIMER: The following blog post is just advice, and you will be better served to call David S. Clark with your bankruptcy questions. This blog contains helpful tips and advice, but is not professional legal advice, and shouldn’t treated as such.

Need Bankruptcy Help? Call David S. Clark

Initial Consultation and Evaluation

Prior to making any decisions, the first step in any bankruptcy process is an initial consultation and evaluation with a bankruptcy attorney. Spend time searching for the “best” attorney in the Auburn and Opelika area. Read reviews, look at their history, and choose a bankruptcy attorney who not only represents you but cares for you and your financial future. 

During the consultation, your dedicated bankruptcy attorney will evaluate your financial situation, discuss your goals, and determine if Chapter 13 bankruptcy is the right option for you.

Preparing and Filing the Petition

Once you and your Chapter 13 bankruptcy attorney have decided to proceed with Chapter 13 bankruptcy, you’ll work together to gather the necessary documentation, including income statements, tax returns, asset valuations, and a detailed list of debts. 

With these items, your bankruptcy attorney will prepare and file your bankruptcy petition with the bankruptcy court in Opelika or Auburn. 

Automatic Stay 

Worried about harassment from creditors? Thankfully, upon filing for Chapter 13 bankruptcy, an automatic stay goes into effect, halting creditor harassment, foreclosure proceedings, wage garnishments, and other collection actions. This can provide immediate relief from the constant calls, emails, and more that may come from a number of creditors. 

Developing a Repayment Plan

The next step in the Chapter 13 process comes in the form of a repayment plan. Essentially, your bankruptcy attorney will negotiate with creditors to establish manageable monthly payments based on your income and expenses. This plan typically lasts three to five years, allowing you to catch up on past-due balances while maintaining essential assets like your home and car.

Once your repayment plan is finalized, it must be submitted to the bankruptcy court for approval. If the court confirms your plan, you’ll begin making monthly payments to a court-appointed trustee, who will distribute funds to your creditors according to the terms of the plan. 

David S. Clark – Your Chapter 13 Bankruptcy Attorney in Opelika

Ultimately, while this is a guide on the Chapter 13 bankruptcy process, it is crucial to note that every bankruptcy case is different. Thankfully, with the guidance of an experienced personal bankruptcy attorney, you can overcome financial challenges and achieve long-term stability. If you’re considering Chapter 13 bankruptcy in Opelika, Alabama, don’t hesitate to reach out to David S. Clark for personalized assistance and support! 

DISCLAIMER: The above blog post is just advice, and you will be better served to call David S. Clark with your bankruptcy questions. This blog contains helpful tips and advice, but is not professional legal advice, and shouldn’t treated as such.

Jan 31
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The Role of Bankruptcy in Resolving Medical Debt

By Financial Tips No Comments

How bankruptcy can help when medical debt becomes unbearable.

Throughout Alabama, medical debt can quickly spiral out of control, leaving individuals and families facing overwhelming financial burdens. Specifically, almost 20% of all residents in Alabama are people with medical debt in collections. 

Fortunately, bankruptcy can serve as a lifeline for those struggling with medical bills, offering a path to financial relief and a fresh start. Below is a breakdown of the role of bankruptcy in resolving medical debt, how a bankruptcy attorney can help, and more from David S. Clark, a Chapter 7 and Chapter 13 bankruptcy attorney in Opelika, Alabama. 

The Impact of Medical Debt

Unfortunately, medical debt can arise unexpectedly due to emergencies, illnesses, or lack of health insurance. Yet, even with insurance, out-of-pocket expenses such as deductibles, copayments, and non-covered services can accumulate rapidly, causing a great amount of stress. 

With that in mind, it can be hard to live with the weight of medical debt around you or your family. Thankfully, you are not alone and there are options available! 

DISCLAIMER: The following blog post is just advice, and you will be better served to call David S. Clark with your bankruptcy questions. This blog contains helpful tips and advice, but is not professional legal advice, and shouldn’t treated as such.

Need Bankruptcy Help? Call David S. Clark

Bankruptcy as a Solution

Bankruptcy, particularly Chapter 7 and Chapter 13 bankruptcy, offers viable solutions for addressing medical debt and gaining a second chance regarding finances.

Before breaking down these chapters of bankruptcy, though, it is important to know that bankruptcy is not always a clean slate. Furthermore, every bankruptcy case is different, so talk to an experienced bankruptcy attorney about your options. 

Chapter 7 Bankruptcy 

Also known as “liquidation bankruptcy,” Chapter 7 allows eligible individuals to discharge unsecured debts, including medical bills, credit card debt, and personal loans. 

Qualification for Chapter 7 Bankruptcy involves submitting your average income and disclosing any assets or unexpired leases you possess. Your bankruptcy attorney will assist you in evaluating your property and assets to determine the feasibility of liquidating them.

Chapter 13 Bankruptcy

Alternatively, Chapter 13 bankruptcy involves creating a court-approved repayment plan to repay a portion of debts over a specified period, typically three to five years. Medical debt can be included in the repayment plan, allowing debtors to manage their obligations while retaining assets such as a home or vehicle.

Navigating the Bankruptcy Process in Opelika, Alabama

As mentioned above, before anything, it is essential to consult with a knowledgeable bankruptcy attorney who can help you choose the best option for your unique situation. 

Ultimately, bankruptcy offers more than just a means of resolving medical debt. It provides individuals with a fresh financial start, freedom from creditor harassment, and the opportunity to rebuild credit over time. By taking proactive steps to address medical debt through bankruptcy, individuals in Opelika can regain control of their finances and move toward a brighter financial future.

From his many valuable years of experience serving the Auburn and Opelika, Alabama community, David S. Clark is knowledgeable and prepared to help you start your journey back to financial security. If you need help navigating the stress, intricacies, and complexities of Chapter 7 or Chapter 13 Bankruptcy, contact David S. Clark, Attorney at Law today!

DISCLAIMER: The above blog post is just advice, and you will be better served to call David S. Clark with your bankruptcy questions. This blog contains helpful tips and advice, but is not professional legal advice, and shouldn’t treated as such.

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