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Chapter 7 Bankruptcy

Jul 31
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How Chapter 7 Bankruptcy Can Help in Auburn, Alabama

By Bankruptcy Law, Chapter 7 Bankruptcy No Comments

Bankruptcy is quite common throughout the country, as well as Alabama specifically. In Auburn, Chapter 7 Bankruptcy is one the most common forms of bankruptcy, and many residents file Chapter 7 Bankruptcy in Auburn every year.

Auburn residents who face crippling financial debt may see few ways forward. Thankfully, even when your debt can seem too large to overcome, there are safeguards in place, including Chapter 7 Bankruptcy, that allow for a fair and effective way to help get you back on your feet. Let’s take a closer look at how Chapter 7 Bankruptcy can help in Auburn, 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

Chapter 7 Bankruptcy in Auburn, Alabama

Bankruptcy is quite common throughout the country, as well as Alabama specifically. In Auburn, Chapter 7 Bankruptcy is one the most common forms of bankruptcy, and many residents file Chapter 7 Bankruptcy in Auburn every year. Essentially, Chapter 7 Bankruptcy is an option for Auburn residents who accumulate debt to a point that is beyond control, where they cannot afford to pay their debt off. When this occurs, Auburn residents can consider Chapter 7 Bankruptcy, which gives them a way to start again and unburden themselves from the crippling weight of debt.

How Chapter 7 Bankruptcy Works in Auburn

Chapter 7 Bankruptcy works to alleviate debt that has been accumulated to the point where you cannot repay it. It does this by liquidating your assets in an effort to pay down these debts, allowing for you to move forward without facing further legal actions and wage garnishments. By liquidating your assets, Chapter 7 Bankruptcy pays down as much of your debt as possible, and with the help of the courts and trustees, it creates a path forward that is fair for both the debtor and the one who is owed. 

Auburn Bankruptcy Attorneys

With the help of experienced bankruptcy attorneys in Auburn, navigating the process of bankruptcy can be greatly simplified. Trusted and experienced bankruptcy attorneys in the area will know the ins and outs of bankruptcy law and the legal process revolving around it, so they are able to guide you through the process in a way that serves your best interest. They will also be able to advise you regarding your debt and seeing if there is a way to avoid bankruptcy altogether. Because of their experience in the field and knowledge of how bankruptcy can sneak up on well-meaning Auburn residents, Auburn bankruptcy attorneys will also be equipped with advice on how to build financially responsible habits and avoid bankruptcy in the first place. 

David S. Clark: Auburn’s Chapter 7 Bankruptcy Attorney

If you are an Auburn resident who has accumulated overwhelming debt that can no longer be managed or effectively paid down, turning to the experts at David S. Clark is a great next step to take. We can advise you on strategic financial decisions that may be able to help you avoid bankruptcy. However, when chapter 7 bankruptcy is in your future, there is no one more capable to represent you and guide you through the bankruptcy process than David S. Clark.

Our office is located in Opelika, and we serve the needs of Auburn residents who face bankruptcy and need help. We can guide you through the complicated process step by step. Contact us today for more information on chapter 7 or chapter 13 bankruptcy in Auburn, or to schedule a free consultation at our office in Opelika.

Come see Auburn’s Chapter 7 Bankruptcy Attorney, David S. Clark, and begin the journey to regaining 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.

Oct 18
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A Breakdown of Bankruptcy & Wage Garnishment in Alabama

By Bankruptcy Law, Financial Tips No Comments

Hiring an attorney can often add undue stress to an already fractious time. Bankruptcy cases are no different. 

Bankruptcy can be scary. The thought of losing your home, car, and other possessions is certainly intimidating. And to add insult to injury, when considering bankruptcy, debt collectors can garnish your wages. Thankfully, many of the common misconceptions about bankruptcy are untrue. In fact, bankruptcy can significantly help those with overwhelming personal debt in many ways. One such way is protection from wage garnishment. 

Here is a quick breakdown on bankruptcy and wage garnishment from David S. Clark, an experienced 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

What are wage garnishments?

According to the US Department of Labor, wage garnishment is “a legal procedure in which a person’s earnings are required by court order to be withheld by an employer for the payment of a debt such as child support.” This means that your pay goes to a creditor instead of you. Some common forms of garnishments can be child support, alimony, student loans, and income taxes. 

Wage garnishments can be embarrassing, financially crippling, and difficult to stop. Some forms of wage garnishment can even take up to 50% or more of your wages. One of the few ways to effectively fight against wage garnishments is declaring bankruptcy. 

Chapter 7 bankruptcy and wage garnishments

When you declare Chapter 7 bankruptcy, wage garnishments are stopped. IRS garnishments are also temporarily stopped. The automatic stay that is enacted upon declaration of Chapter 7 bankruptcy will temporarily halt all collections. This gives you a break from the financial stress that comes with wage garnishments. From there, law professionals can help you regain your financial footing and instill fiscally responsible habits. 

Chapter 13 bankruptcy and wage garnishments

When you declare Chapter 13 bankruptcy, wage garnishments are also stopped. Much like declaring Chapter 7 bankruptcy, declaring Chapter 13 bankruptcy also issues an automatic stay that halts all collections. Stopping wage garnishments is one the most impactful ways that declaring bankruptcy helps those in overwhelming debt. Once wage garnishments have been halted, you have time to get your financial situation back to a manageable state.

Through the Chapter 7 and Chapter 13 bankruptcy processes, and with the help of legal professionals, regaining your financial freedom and getting back on your feet isn’t so far away. It will take hard work, commitment, and starting new financial habits, but it is absolutely possible to get back to a healthy place with your finances. The financial easement process of automatic stays, which halt wage garnishments, is only one such way that the bankruptcy process can help.

The Difference With David S. Clark

If you are looking for dedicated bankruptcy law professionals to help you with your financial hardships, look no further than the experienced David S. Clark. Our focused and successful legal team has a combined legal experience of over 25 years. 

If you are an Auburn or Opelika, Alabama area resident in financial distress, let us serve you and help you get back on your feet. Contact us today to begin your journey back to financial freedom.

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.

Jul 12
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Chapter 7 Bankruptcy Requirements

By Chapter 7 Bankruptcy No Comments

Chapter 7 bankruptcy can be confusing, overwhelming, and complicated. It doesn’t have to be. 

Are you an Auburn or Opelika resident overwhelmed by debt and facing financial difficulties? Chapter 7 bankruptcy might be the fresh start you need. By filing for Chapter 7 bankruptcy, you can discharge various unsecured debts, including medical bills, credit card debt, and signature loans.

However, without the proper experience, navigating the complexities of bankruptcy can be extremely confusing. Here is a quick guide on Chapter 7 bankruptcy and the necessary requirements from David S. Clark, a Chapter 7 and Chapter 13 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

Understanding the Chapter 7 Bankruptcy Process

When you file for Chapter 7 bankruptcy, a court-ordered action called the Automatic Stay comes into effect immediately. This stay halts all debt collection attempts by creditors, offering you relief and protection.

It’s important to remember that bankruptcy doesn’t signify the end of your finances forever. Rebuilding your financial life can be challenging, but with the support of a skilled Chapter 7 bankruptcy attorney, it is far from impossible. 

To initiate the Chapter 7 bankruptcy process, you’ll need to sign a petition and file it with your local bankruptcy court. The petition includes comprehensive details such as a list of creditors, the nature and amount of their claims, your income and assets, as well as a breakdown of your expenses.

After filing for bankruptcy, an appointed trustee will review your creditors and their claims, assess your income sources, frequency, and amount, scrutinize your property and assets, and examine your expenses. This thorough examination ensures that there are no suspicions of fraud.

Qualifying for Chapter 7 Bankruptcy

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.

However, certain necessary assets may be exempt from liquidation. In such cases, the liquidation process stops completely, and you’ll need to reaffirm your obligations to the creditors. It’s important to note that Chapter 7 bankruptcy may be disapproved if the amount you’re trying to reaffirm is significant or if you’re attempting to reaffirm multiple unsecured debts.

Furthermore, every Chapter 7 bankruptcy case is going to be different. So, finding a dedicated bankruptcy attorney could be the difference between success and failure. 

David S. Clark, Your Opelika Bankruptcy Attorney

When facing the complexities and stresses of bankruptcy, having a knowledgeable bankruptcy attorney like David S. Clark by your side is invaluable. With years of expertise, a local location, and a heart to understand and encourage, David S. Clark can provide the help you need when debt feels overwhelming. 

For more information on David S. Clark, your trusted Opelika and Auburn 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 26
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How to Choose the Right Bankruptcy Attorney in Alabama

By Attorneys & Lawyers, Bankruptcy Law No Comments

It can be hard to find the right bankruptcy attorney, thankfully, you don’t have to do it alone.  

If you’re struggling with the weight of debt and considering bankruptcy, it’s important to have an experienced personal bankruptcy attorney on your side. Yet, with so many bankruptcy law firms available, choosing one can be even more overwhelming. Thankfully, you don’t have to make the choice alone. Here are a few essential factors to consider when selecting a bankruptcy attorney in Alabama. 

What is Bankruptcy?

Before explaining a few essential factors of a bankruptcy attorney, it is important to provide a brief explanation of what bankruptcy is. Essentially, when it comes to personal bankruptcy, there are two main types: Chapter 7 and Chapter 13. Chapter 7 bankruptcy allows individuals and businesses to discharge their debts, while Chapter 13 bankruptcy involves a repayment plan.

Each chapter has specific eligibility requirements and follows distinct processes. To learn more about which chapter of bankruptcy may be most suitable for your situation, click here!

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

Auburn and Opelika Expertise 

Auburn and Opelika may be smaller than cities like Huntsville or Birmingham, but that’s where their neighborly atmosphere shines. So, when it comes to a bankruptcy attorney, it is essential to not only find an attorney who has extensive knowledge of Alabama bankruptcy laws, but one who treats you as your neighbor would–with love and care. 

Experience and Specialization

When it comes to a successful personal bankruptcy case, finding a bankruptcy attorney who truly understands your wants and needs is crucial. However, their experience and specialization play a pivotal role. Therefore, it’s essential to research different attorneys, read reviews, and ensure that the law firm you choose has extensive knowledge in personal bankruptcy, particularly in Chapter 7 and Chapter 13 cases.

Personalized Approach

Furthermore, since every bankruptcy case is different, a dedicated bankruptcy attorney must be able to adapt and improvise depending on your unique financial situation. By working closely with you, a bankruptcy attorney can also create a tailored plan that addresses your concerns and helps you achieve the best possible outcome.

The Difference With David S. Clark, Your Opelika Bankruptcy Attorney

Choosing the right bankruptcy attorney is a crucial step towards financial freedom. With David S. Clark, a seasoned Chapter 7 and Chapter 13 bankruptcy attorney in Auburn and Opelika, Alabama, you can trust that you’ll receive experienced legal representation and compassionate guidance. His local expertise, specialization, client testimonials, personalized approach, and excellent communication make him the ideal choice for Auburn or Opelika residents seeking a fresh financial start through bankruptcy.

Take the first step towards a brighter financial future by scheduling a consultation with 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 11
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3 Signs You May Need to File for Bankruptcy

By Bankruptcy Law, Financial Tips No Comments

Bankruptcy is often misunderstood and could actually lead to a life of financial peace.

Even with the most meticulous planning and as much as we try to avoid it, financial hardship and bankruptcy can happen to anyone. Also, with many myths surrounding it, bankruptcy is often dismissed as a viable solution for many Auburn or Opelika residents. Some even believe that filing for bankruptcy means the end of their finances forever. However, bankruptcy is often misunderstood and could actually lead to a life of financial peace.

Despite that, deciding whether or not to file for bankruptcy is a major decision that requires careful consideration. So, here are three signs that may indicate it’s time to speak with a bankruptcy attorney about your options 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

Overwhelming Debt

When the weight of debt becomes seemingly unmanageable, it can be challenging to pay even the minimum amount owed. This not only leads to deeper debt but can even add a significant burden to your daily life. More debt can also lead to late fees, penalties, and interest charges, making it even harder to get out of debt.

Unmanageable debt is often a strong indication that it may be time to talk to an experienced bankruptcy attorney about your options. Depending on your situation, Chapter 7 or Chapter 13 bankruptcy may be able to help by consolidating your debts and allowing you to make more manageable payments. In some cases, it may even be possible to discharge some or all of your debts, giving your finances a fresh start.

Debt Collection Harassment & Threats of Legal Action

Beyond the effect that overwhelming debt can have on you and your family, creditors can sue you for non-payment of debt, leading to wage garnishment, property liens, or even the seizure of a number of your assets.

Thankfully, filing for Chapter 7 or Chapter 13 bankruptcy can halt legal action and protect your valuable assets. When you file for bankruptcy, an automatic stay goes into effect, which puts an immediate stop to creditor actions, including lawsuits and wage garnishment.

Lack of Savings

While the lack of a savings account does not mean bankruptcy, it can act as a warning of what could happen in the future. Ultimately, without a financial cushion, a single unexpected expense, such as a medical emergency, car repair, or job loss, can quickly spiral into financial distress. 

Filing for bankruptcy can help you get back on your feet by giving you a fresh start. It can discharge your debts, freeing up your income to rebuild your savings and secure your financial future

David S. Clark, Your Auburn & Opelika Personal Bankruptcy Attorney 

In conclusion, if you are struggling with overwhelming debt or facing legal action from creditors in Alabama, filing for bankruptcy may be a viable solution. However, it’s essential to speak with an experienced bankruptcy attorney in Alabama to understand your options. 

At David S. Clark, we are dedicated to helping our clients in Auburn or Opelika achieve financial freedom. Contact us today to schedule a free consultation and learn more about how we can help you with Chapter 7 or Chapter 13 bankruptcy. 

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 25
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Understanding Bankruptcy: Chapter 7 vs. Chapter 13

By Bankruptcy Law, Financial Tips No Comments

Chapter 13 vs. Chapter 7 and how an experienced bankruptcy attorney can help.

Bankruptcy can be difficult to comprehend due to its complex nature. In addition to the myths surrounding it, one of the more confusing aspects is the types of chapters available for Alabama residents to file for.

Thankfully, when it comes to bankruptcy, you don’t have to walk through it alone. Here is a quick breakdown of the difference between Chapter 7 and Chapter 13 from David S. Clark, an experienced 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

Chapter 7 Bankruptcy

Chapter 7, also known as “liquidation bankruptcy,” is the most commonly filed type of bankruptcy in the United States. This type of bankruptcy enables you to regain control of your finances by having a bankruptcy court discharge most of your unsecured debt. 

By eliminating these debts, Chapter 7 bankruptcy can provide a fresh start for any Auburn or Opelika resident seeking freedom from the, often, overwhelming weight of debt. 

Dischargeable debts under Chapter 7 include:

  • Credit card balances (including overdue and late fees)
  • Medical bills
  • Personal and payday loans 
  • Mortgage or automobile loans for which you are unable to pay
  • Utility bills
  • Social Security overpayments
  • Veterans’ assistance loans and overpayments

Non-dischargeable debts under Chapter 7 Include:

  • Non-dischargeable debts under Chapter 7 include:
  • Child support
  • Alimony
  • Student loans
  • HOA fees
  • Secured debts

Furthermore, in every Chapter 7 Bankruptcy case, the bankruptcy court assigns an impartial case trustee that faces your debtors for you. Ultimately, these appointed trustees aren’t working to make money for the creditors or to make your debts magically disappear. They seek the best route forward for both parties.

Chapter 13 Bankruptcy

Chapter 13 bankruptcy, while similar to Chapter 7, focuses more on the idea of repayment and reorganization. Ultimately, unlike Chapter 7, Chapter 13 provides more flexibility in terms of debt repayment, allowing residents to catch up on missed mortgage payments or car payments.

In Chapter 13 bankruptcy, a dedicated bankruptcy attorney creates a repayment plan to pay off your debts over a period of three to five years. The repayment plan is based on a number of items such as your income, expenses, and the types of debts owed.

Which Type of Bankruptcy is Right for You?

The type of bankruptcy that is right for you will depend on your unique financial situation. If you have little to no disposable income and cannot pay off your debts, Chapter 7 bankruptcy may be the best option. However, if you have a regular income and want to keep your assets while paying off your debts, Chapter 13 bankruptcy may be a better fit.

Ultimately, consulting with an experienced bankruptcy attorney is essential to determine which type of bankruptcy is right for you. They can evaluate your financial situation and help you make an informed decision.

Before anything, it is also important to remember that while debts can appear similar, every financial situation is unique. So, before filing for bankruptcy, it is important to understand that bankruptcy is not the end. 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.

Mar 27
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Does Bankruptcy Affect Employment Status?

By Bankruptcy Law, Financial Tips No Comments

It is very rare for employers to find out about your bankruptcy status. In fact, you are not legally required to inform your employer of your Chapter 7 or Chapter 13 bankruptcy.

Although filing for bankruptcy can be seen as a fresh start for your finances, it can also come with some costs. Many people worry what the consequences will be after filing for Chapter 7 or Chapter 13 bankruptcy. Questions arise such as: “Will my employer find out about my bankruptcy?”, “Can my employer fire me because I filed for bankruptcy?” or “Is there a chance that bankruptcy will affect my future employment?”

Rest assured knowing that you can not be fired solely due to the fact that you filed for bankruptcy. However, in some situations, it could possibly prevent you from getting a job within a private industry in the future.

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

Can I Lose My Job Due to Bankruptcy?

An employer can not legally fire you because of your bankruptcy. Even more, an employer can’t change the terms and conditions of your employment based on your bankruptcy filing. 

For example, your employer is not allowed to:

  • Reduce your salary
  • Downgrade your position
  • Take away your specific responsibilities, or
  • Terminate your employment

If for some reason you are fired shortly after filing for bankruptcy and there are no other justifications for your dismissal, you may have a case against your employer for illegal bankruptcy discrimination. However, keep in mind that bankruptcy can’t protect you from other misconduct, such as tardiness, inability to get the job done and dishonesty.

Could Bankruptcy Affect My Future Employment?

When applying for jobs, no federal, state or local government agency can take your bankruptcy into consideration when deciding whether to hire you. On the other hand, private employers have the power to do so.

The only time this really causes problems against someone who has filed for bankruptcy is for certain jobs that deal with money. For example, if you are applying for a job such as accounting or bookkeeping, employers tend to be more cautious.

Will My Employer Find Out About My Filed Bankruptcy?

It is very rare for employers to find out about your bankruptcy status. In fact, you are not legally required to inform your employer of your Chapter 7 or Chapter 13 bankruptcy.

Although it is very unlikely, these are the most likely ways that an employer could find out:

  • Wage garnishments. If your wages were being garnished previously, your employer will be notified to stop the wage garnishments due to your debt being discharged. 
  • Chapter 13 payments. This is very uncommon, but if you have filed for Chapter 13 bankruptcy, a few jurisdictions require your debt reorganization payments to be deducted from your paycheck, which would make your employer aware.
  • Owing your employer money. If for instance, you have to pay back a wage overpayment, you will have to list that as one of your debts in your bankruptcy paperwork, and your employer will be notified of that.

David S. Clark – An Experienced Bankruptcy Attorney Here to Help You!

If you have worries about the consequences of Chapter 7 or Chapter 13 bankruptcy affecting your employment status, 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 13
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The Role of a Bankruptcy Attorney

By Bankruptcy Law, Financial Tips No Comments

A quick breakdown of the helpful role an experienced bankruptcy attorney provides in your unique bankruptcy case

Filing for bankruptcy can be an overwhelming, complex, and complicated process that requires time, experience, and knowledge of how the Alabama legal system works. Thankfully, you don’t have to go through this process alone. 

Below is a helpful explanation of the role of a bankruptcy attorney, and what to expect during bankruptcy from David S. Clark, an experienced 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

What is Bankruptcy?

Before walking through the specific tasks of a bankruptcy attorney, it is important to provide a brief explanation of what bankruptcy is. Essentially, when it comes to personal bankruptcy, there are two main types: Chapter 7 and Chapter 13. Chapter 7 bankruptcy allows individuals and businesses to discharge their debts, while Chapter 13 bankruptcy involves a repayment plan.

Each chapter of bankruptcy requires certain qualifications and includes different processes. For more information on which chapter of bankruptcy could be best for you, click here! 

Initial Bankruptcy Consultation

Before any plans are drawn up, a bankruptcy attorney’s initial consultation is essential to your journey toward a fresh start. During this consultation, your attorney will evaluate your financial situation and provide advice on the best course of action. 

Additionally, the attorney will review your debts, assets, and income to determine if you qualify for bankruptcy and discuss the potential consequences of filing.

Preparation of Bankruptcy Paperwork

After your initial consultation, the bankruptcy process begins. One of the most important roles of a bankruptcy attorney is to prepare and file the necessary paperwork for your unique bankruptcy case. This process can be complex and time-consuming, and it requires a thorough understanding of Alabama’s bankruptcy laws and regulations. 

Your attorney will work closely with you to gather all the required information and documentation, such as financial records, tax returns, and asset listings. With this information, your attorney will prepare the necessary forms, including the bankruptcy petition, schedules, and statements, ensuring that everything is complete and accurate. 

Representation in Court

Another important role of a bankruptcy attorney is to represent you in court throughout the bankruptcy process. Your attorney will attend all necessary court hearings, including the meeting of creditors and the confirmation hearing, to advocate for your specialized interests. 

They will present evidence and arguments to the bankruptcy trustee and the judge, and answer any questions they may have about the case. Throughout this process, the attorney’s goal is to not only protect your rights but ensure your best interests are being served.

Post-Bankruptcy Guidance

There are a number of myths surrounding bankruptcy, especially when it comes to the consequences. 

David S. Clark and his team of professionals understand the overwhelming nature that bankruptcy can present. While it may be easy to find information about the best course of action to take, what is actually true about bankruptcy, or ways to cheat the system–an experienced bankruptcy lawyer could be the difference in the future of your finances forever. 

If you are an Auburn or Opelika resident seeking the help 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.

Feb 27
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Personal Bankruptcy FAQ

By Bankruptcy Law, Financial Tips No Comments

Frequently asked questions about bankruptcy and how an experienced bankruptcy attorney can help.

If you’re an Auburn or Opelika resident struggling with debt, bankruptcy may seem like a daunting but necessary option to get a fresh financial start. However, due to the seemingly complex nature of bankruptcy, many people, naturally, have questions and concerns about the bankruptcy process. 

Below are a few of the most commonly asked questions about bankruptcy to help you understand the process and make informed decisions about your financial future. 

So, whether you’re an Opelika resident considering bankruptcy as a way to manage your debt or you simply want to learn more about the process, here are a few of the answers you may need from David S. Clark, an experienced 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?

As mentioned, bankruptcy is a daunting idea for several reasons, but the ability to lose your home often causes many Alabama residents to shy away from even the thought of bankruptcy. 

The answer to this question depends on a number of important factors such as the type of bankruptcy you file for (as shown 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 personal bankruptcy, every case is going to be different, so it is essential to communicate with a dedicated bankruptcy attorney on the best options that could protect your home. 

Will bankruptcy stop debt collection harassment?

According to Section 524 of the U.S. Bankruptcy Code, no one can take action against you if your debt has been discharged through bankruptcy. Known as the “automatic stay”, this action is immediately ordered and enforced by the bankruptcy court as soon as you file for bankruptcy. 

Ultimately, the automatic stay makes it illegal for creditors to contact you about any discharged debt once you file for bankruptcy. This means creditors can’t call, email, visit, or do anything that attempts to collect a debt from you. 

It is important to note that although creditors can no longer contact you regarding discharged debts, 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

While these are a few of the more popular questions about bankruptcy, it is important to remember that every personal bankruptcy case will be different. Yet, you don’t have to go through it alone. 

If you are an Auburn or Opelika resident ready to file for Chapter 7 or Chapter 13 bankruptcy or simply seeking the financial help 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.

Feb 14
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Chapter 7 Bankruptcy Explained

By Bankruptcy Law, Chapter 7 Bankruptcy No Comments

Chapter 7 bankruptcy can be complicated, but it doesn’t have to be.

Despite similarities in occupations throughout Auburn and Opelika, every resident’s financial situation differs. Ultimately, no matter how stable your income is, debts can quickly become unmanageable for anyone, leading to financial distress and even the loss of valuable assets, like your home. 

Thankfully, when debt does become unmanageable there is a fresh start available. Here is an explanation of Chapter 7 bankruptcy and how the process works 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

Understanding Chapter 7 Bankruptcy

Perhaps the most common type of bankruptcy, known as “liquidation bankruptcy” or Chapter 7, allows you to regain control of your finances by having most of your unsecured debt, including credit card debt, medical bills, and personal loans discharged by a bankruptcy court.

Yet, before describing how Chapter 7 bankruptcy works, it is essential to know exactly what kinds of debt could be discharged. 

Dischargeable debts under Chapter 7 include:

  • Credit card balances (including overdue and late fees)
  • Medical bills
  • Personal and payday loans 
  • Mortgage or automobile loans for which you are unable to pay
  • Utility bills
  • Social Security overpayments
  • Veterans’ assistance loans and overpayments

Non-dischargeable Debts Include:

  • Non-dischargeable debts under Chapter 7 include:
  • Child support
  • Alimony
  • Student loans
  • HOA fees
  • Secured debts

The Process of Chapter 7 Bankruptcy

Three main steps occur once you file for Chapter 7 bankruptcy in Alabama. These consist of the following:

  • Forms and Counseling

Before a bankruptcy court looks at each unique case, there are a number of necessary forms an Opelika or Auburn resident must fill out. These require in-depth knowledge of your personal information, including finances, creditors, assets, income, expenses, and more. 

After filing, the court places an automatic stay on your case, preventing any and all creditors from collecting debts. 

  • Trustee Appointment

After filing for bankruptcy, Auburn or Opelika’s bankruptcy court will appoint an unbiased trustee to oversee your entire Chapter 7 bankruptcy process. Beyond choosing what assets to liquidate to pay off creditors, the trustee will also schedule meetings with creditors, where plans for debt repayment are put in place. 

  • Debt Repayment & Discharge

After meeting with creditors and the bankruptcy court, certain non-dischargeable debts are paid with assets decided by the bankruptcy trustee, while any dischargeable debts are immediately discharged. 

After debts are discharged with Chapter 7 bankruptcy (approximately two months after), creditors may still attempt to recover previous debts, even though they have no right to. So, throughout your Chapter 7 bankruptcy process, make sure to retain any and all necessary documents.

David S. Clark – Your Local Chapter 7 Bankruptcy Attorney 

David S. Clark is an experienced Auburn and Opelika Bankruptcy Attorney who understands the intricacies, complications, and stress of bankruptcy. If you need help navigating Chapter 7 bankruptcy, 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.

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