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.

How to quickly recover from credit card debt

Nationwide credit card debt continues to soar, leaving many households steeped in what they often believe will be a never-ending debt cycle. Fortunately, the following is a list of tips for these individuals that may enable them to pay off their credit card balances more quickly.

  • Avoid tacking on to your credit card balance by continued use of the card in question until it is completely paid off.
  • Try to increase your cash flow by looking for a sideline job.
  • Keep yourself motivated in settling your credit card debts by concentrating on one balance at a time.
  • Negotiate with your credit card companies to have your interest rates reduced if you have a respectable credit card history.
  • Always pay more than the minimum balance each month if you can in order to reduce interest.

Though the tips mentioned above may help you in paying your credit card debts, another tip worth considering is to consult with a knowledgeable, skilled bankruptcy lawyer. Find out how the financial legal team at Greenway Bankruptcy Law, LLC, in Birmingham may be able to help you recover from your overwhelming debts today by calling (205) 324-4000.

Bankruptcy terminology everyone should know

Since bankruptcy is a legal procedure, many of its terms can be confusing, especially to those people who are considering filing for the first time. Below are terminologies people should know when considering filing for bankruptcy:

  • Insolvency means that a person or a business can no longer settle their debts where in some situations the interests of their debts are higher than their income.
  • Debtor means any person who owes money to someone else.
  • Creditor means anyone, usually a financial institution that lends money to other people.
  • Debt discharge means that individuals no longer have to settle their debts, given that the court grants them a “discharge order” after filing for Chapter 7 Bankruptcy.

If you want to know more about the above mentioned terminologies or you have decided to file for bankruptcy in Birmingham, a lawyer from the Greenway Bankruptcy Law, LLC may help you. Call our office today at (205) 324-4000 to find out how we may legally assist you in the filing process.

Student loan debt relief options for parents

Parents who are financially supporting their children’s education by cosigning their student loan debts may want to try the following options, especially if they are already having difficulty making their monthly payments.

  • Parents who are struggling to pay their “PLUS Loan” monthly dues may want to use the “income-contingent repayment plan” in order to adjust their monthly payments so that they don’t exceed 20 percent of their income.
  • Parents may want to pay the total of their children’s student loan debt by acquiring loans offered by private lenders with lower interest rates compared to the “PLUS Loan.”
  • Lastly, parents may want their successful children to pay their student loan debt. Parents’ credit scores often improve if the student loan debt that they have cosigned for their children is detached from their name.

Another option to relieve parents of their child’s student loan debt is to work with a skilled lawyer. Find out how a lawyer from the Greenway Bankruptcy Law, LLC in Birmingham may possibly help you with your financial troubles today by calling (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
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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+