What is bankruptcy?
Have you suffered a job loss, even for a temporary period of time? If so, this could result in a situation where you fall behind on your payments to credit card companies, auto loans, mortgages, and other debts such as unexpected medical bills. This could lead to financial difficulty. A bankruptcy filing can eliminate debts, or place them on hold while you regain your financial standing. Many of our clients are in danger of losing their homes to foreclosure, or their vehicles and other property to repossession. Others are facing lawsuits and garnishment of bank accounts and wages.
We will review your circumstances to determine if bankruptcy is in your best interest. We will listen to you, provide clear answers to your questions and offer our honest opinion about your situation. While bankruptcy can benefit many people, there may be other options as well. If bankruptcy is not your best option, we will suggest alternatives to bankruptcy.
How can we help
The full-service bankruptcy law office of Williams & Associates has helped people just like you for more than 40 years. We can help you file a petition under Chapter 7 or Chapter 13 to work toward getting your finances under control so that you and your family can look forward to a brighter day.
Get A Case Review
Please contact us for a case evaluation.
Alabama Bankruptcy Process
If you are considering filing for bankruptcy in Mobile or a surrounding area, be aware the bankruptcy process can be quite complicated and demanding. Here is a basic overview of what you can expect:
- Preparation and filing of your Bankruptcy Petition.
- Meeting of the creditors:Your creditors will be given the opportunity to review your case and ask questions. Most often creditors do not appear at this hearing, but if objections are raised, we file amended schedules to assist in obtaining court approval of your plan.
- Case is approved:If there are no issues with your case, then the court will approve your petition and under Chapter 7 you will no longer owe certain debts, and under Chapter 13, you may keep debts but pay the creditors at a reduced amount.
At this point, the next steps will again depend on the chapter that you filed. For Chapter 7, your debts will be discharged and you will be able to move on in life without the pressures of certain debts or harassment from certain creditors. For Chapter 13, you will need to complete the payment plan that is realistic for your individual situation, which can last anywhere from three to five years. Once completed, your debts will be discharged. We will assist you in determining the best action for your specific financial situation, and help you get the relief these laws were designed to provide.