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Chapter 7 Bankruptcy

Chapter 7 Bankruptcy Attorney in Opelika, AL

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Hire an Opelika bankruptcy attorney for your Chapter 7 bankruptcy case. 

Alabama Middle District Bankruptcy Statistics

From 2017 – 2018, bankruptcy filings in Alabama’s Middle District, the district of bankruptcy courts in which Opelika is located, have decreased by 2.8%. When the COVID-19 pandemic arrived in the United States in early 2020, though, this trend was expected to change as bankruptcies across the nation were predicted to drastically increase.

However, with the financial help provided through the multiple rounds of stimulus checks provided by the federal government, consumer bankruptcy filings through Chapters 7 and 13 bankruptcies actually decreased.

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

Interest in Bankruptcy on the Rise in Opelika

Now that a lot of the direct government financial assistance is no longer available to Americans, Opelika residents are once again considering filing bankruptcy in order to avoid complete financial ruin. In just the last month at David S. Clark, we have seen over a 65% increase in inquiries.

Many are searching for Opelika bankruptcy lawyers that can help them work through the process of Chapter 7 bankruptcy.

Chapter 7 Bankruptcy Basics

Chapter 7 bankruptcy relieves a debtor from his or her debts by means of liquidating (turning assets like a car or home into cash) the debtor’s assets and distributing the funds gained from this liquidation to the debtor’s creditors.

Not everyone is able to file Chapter 7 bankruptcy though. Those wishing to do so in Opelika, AL must:

  • Be subject to a means test.
  • Appear before a bankruptcy court.
  • Receive financial counseling from a professional credit counselor.

If a debtor is able to declare Chapter 7 bankruptcy, then he or she will submit a petition to the appropriate district bankruptcy court. For Opelika residents, this is the United States Bankruptcy Court–Middle District of Alabama.

For a more robust description of Chapter 7 Bankruptcy in Opelika, AL, read our previous post, “What Is Chapter 7 Bankruptcy?”.

Chapter 7 Bankruptcy Attorney in Opelika, AL

David S. Clark is a Chapter 7 bankruptcy attorney that has been helping residents of Opelika, AL get financial relief through bankruptcy for years.

David and his team of bankruptcy professionals can walk with you through each step of Chapter 7 bankruptcy helping you to interpret some of the legal jargon that you may not be familiar with, representing you before the bankruptcy judge, and counseling you at moments when you have to make difficult financial decisions.

If you are considering filing bankruptcy in Opelika, AL and need an Opelika Chapter 7 bankruptcy attorney that you can trust, 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.

The Benefits of Chapter 7 Bankruptcy for Opelika & Auburn Residents

By | Bankruptcy Law, Chapter 7 Bankruptcy | No Comments

Chapter 7 Bankruptcy is a particularly helpful option in bankruptcy code for Auburn and Opelika residents who have a current monthly income that falls below the state median monthly income.

Many Opelika & Auburn residents are very hesitant to look into declaring bankruptcy to find relief from their numerous debts that they are unable to repay because declaring bankruptcy is often looked down on by the public.

Bankruptcy, however, is a perfectly legitimate form of debt restructuring that has helped countless Americans escape financial ruin since its adoption into United States law.

Chapter 7 Bankruptcy is a particularly helpful option in bankruptcy code for Auburn and Opelika residents who have a current monthly income that falls below the state median monthly income.

Here are some of the benefits of Chapter 7 Bankruptcy in Opelika and Auburn, 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 Helps Those With Little Financial Resources

Chapter 7 Bankruptcy is specifically designed to assist those on the lower end of the financial system gain relief from their debts.

This is accomplished by those who wish to file Chapter 7 Bankruptcy being subject to the means test mentioned earlier.

Chapter 7 Bankruptcy Doesn’t Make You Face Creditors Alone

In every Chapter 7 Bankruptcy case, the court assigns an impartial case trustee to help mediate between you and your debtors. These trustees are assigned as impartial case managers for the state.

They aren’t working to make money for the creditors and they also aren’t working to magically make your debts appear. They are seeking the best route forward for both parties.

Though this case trustee is a helpful and necessary player in Chapter 7 Bankruptcy cases, he or she is not a bankruptcy attorney.

Chapter 7 Bankruptcy attorneys have a fiduciary duty, a duty to put your interests above any others. So, even with the benefit of having impartial case trustees in Chapter 7 bankruptcies, an Opelika/Auburn bankruptcy attorney is an important asset to your team because he or she will advocate explicitly for you.

The Chapter 7 Discharge

A discharge in Chapter 7 bankruptcy cases is one of the greatest protections that is offered to debtors against creditors in the bankruptcy process.

When a person files for bankruptcy, he or she gives immense power to the courts, the court appointed trustee, and their creditors. This is a frightening step for many debtors, and rightfully so. With a Chapter 7 discharge, however, many fears that a debtor might have of losing all of his or her civil rights because of debts owed are laid to rest because it frees debtors from the personal liability for many of their debts and it prevents creditors from taking collection action against them.

Given the nature of Chapter 7 bankruptcy as a means by which debts can be paid, there are many exceptions present in a Chapter 7 discharge clause. This is one of the many areas that hiring a qualified Chapter 7 Bankruptcy attorney can be an asset to you.

A good Auburn/Opelika Chapter 7 Bankruptcy attorney knows the ins and outs of these discharges and can guide you through this process.

David S. Clark, Chapter 7 Bankruptcy Attorney

Because of the complexity of Chapter 7 Bankruptcy, its benefits are often out of reach for most Opelika or Auburn residents because they don’t hold a law degree.

This is why hiring a reputable Auburn/Opelika Chapter 7 Bankruptcy attorney like David S. Clark can be an important factor in successfully filing for Chapter 7 Bankruptcy.

If you are looking to file Chapter 7 Bankruptcy in Auburn or Opelika, AL contact us today for a free case consultation and get your life back on the path toward financial freedom!

For more information about Chapter 7 Bankruptcy visit the United States Courts’ “Chapter 7 – Bankruptcy Basics.”

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.