Bankruptcy doesn't have to be something bad.
It can actually be the start of something good.
Your situation is unique, and it's personal.
Your attorney should be as well.

Do You Know These 3 Important Bankruptcy Terms?

Bankruptcy can be difficult to handle for a person just beginning this legal process. Not only will they need to bring together a significant amount of financial records and receipts, but they may also want to know more about the options available to them. By learning more about bankruptcy law and how it may affect them, a person can feel more confident about continuing with their own proceedings.

If you’re considering bankruptcy, an experienced legal professional may be able to help you with your case filing and any legal issues that may subsequently arise. For more information, contact the Birmingham bankruptcy lawyers of Greenway Bankruptcy Law, LLC, today by calling (205) 324-4000.

Prepare Yourself for Bankruptcy

Before undergoing bankruptcy proceedings, a person should be familiar with the following terms and concepts:

#1: Insolvency

This term is usually applied to businesses going through bankruptcy, but can describe personal bankruptcies as well. Insolvency occurs when a person can no longer afford to make their debt payments. At some point, the interest on their debt will overtake their income.

#2: Debtor / Creditor

Although a person may confuse these two terms, they’re fairly straightforward. A debtor is a person who owes someone else money. A creditor is someone who lends money to another person.

#3: Debt Discharge

When a person files Chapter 7 bankruptcy, they ultimately work to get their debts discharged by the court. If they can secure a discharge order, they no longer have to pay back their debts.

Contact Us

If your financial obligations have become unmanageable, bankruptcy might be the right solution for your household. To discuss your options in further detail with a knowledgeable lawyer, contact the Birmingham bankruptcy attorneys of Greenway Bankruptcy Law, LLC, today at (205) 324-4000.

"When I had my power cut off because I just didn't have the money to pay the power bill, a friend suggested I call Paula Greenway. From the moment I walked in her office I felt like a burden was lifted from my shoulders."
Robin M
"I would just like to say that I was impressed by the staff of Greenway Bankruptcy Law, LLC and their attention to professionalism. They made the bankruptcy process not only pleasant but simple."
Jennifer S.
I can't tell how comforting it is to know your attorney is working on your case. I would and have recommended their service to friend and associates."Ed H.
"I would like to thank Greenway Bankruptcy Law, LLC for the way in which they handled my bankruptcy case."
Robert M.
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Greenway Bankruptcy Law, LLC
505 20th St N #1220
Birmingham, AL, 35203
Phone: (205) 324-4000
Tuscaloosa: (205) 737-3350
Gadsden: (256) 467-6650

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Greenway Bankruptcy Law, LLC All rights reserved. We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code. The following language is required pursuant to Rule 7.2, Alabama Rules of Professional Conduct. No representation is made that the quality of legal services to be performed is greater than the quality of legal services performed by other lawyers. This web site is designed for general information only. The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship.

Greenway Bankruptcy Law, LLC 505 20th St N #1220, Birmingham, AL, 35203 | Phone Number: (205) 324-4000 |  Directions | Paula Greenway+