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.

Lindsay Lohan might head for bankruptcy

Actress Lindsay Lohan might find herself heading for bankruptcy due to claims that she failed to settle the rent payments on her flat in London, an October 22 report of the Economic Times stated.

The bankruptcy issue reportedly comes as the 30-year-old actress opened up a nightclub in Greece with Dennis Papageorgiou. The landlord of the $4.2 million property rented by Lohan in Knightsbridge claims the actress failed to pay her rent the last six months. Reports revealed Lohan now owes over $95,000 in back payments and if Lohan fails to settle the missed payments, she will be petitioned to seek bankruptcy. A deadline of November 8 was set for Lohan to settle her debts.

Facing financial trouble is a frustrating experience, especially if you do not know how to resolve it. If you need financial assistance in Birmingham, a lawyer at Greenway Bankruptcy Law, LLC can offer solutions to help you recover from your debts. Call us today at (205) 324-4000 to learn more about your options.

Former Clippers player Darius Miles files for bankruptcy protection

Former NBA player Darius Miles recently sought bankruptcy protection after playing for several seasons and earning millions of dollars, an article of Belleville News-Democrat reported on September 16.

The 34-year-old former player of the Los Angeles Clippers decided to file for bankruptcy in June after acquiring too much debt. Miles acknowledged that his liabilities amounted to $1.57 million while his current assets are $460,385. The former hoopster, who also appeared in the movie The Perfect Score and was endorsed by Michael Jordan’s sporting line, was struck with too much debt after injuries rendered him unable to play. A former NBA union vice president said it is common for athletes to run into debt because they are not familiar with how to handle the business aspect of their career.

If you are burdened by debt, working with an attorney is critical, especially if you have decided to file for bankruptcy and are unfamiliar with the process. Speak with an attorney at Greenway Bankruptcy Law, LLC in Birmingham today by calling (205) 324-4000 to learn more about your legal options.

Ex-Timberwolves player forced to seek bankruptcy

Former player for the Minnesota Timberwolves, Christian Laettner, is likely to find himself in bankruptcy court after his creditors took legal actions to recover the funds owed to them by Laettner, The Sydney Morning Herald reported.

According to reports, the 46-year-old Laettner has to settle $14.05 million worth of debt to his creditors. At least five of his creditors, including National Servicing & Administration, have initiated involuntary bankruptcy proceedings to force him to file for bankruptcy. Legal counsel for Laettner confirmed that they are currently negotiating with creditors to pay them back. Laettner was struck with overwhelming financial problems from his real estate business after retiring from the NBA.

If you are struggling with a great financial burden, working with a skilled attorney can help you determine how to recover and regain control of your finances. The Birmingham attorney from Greenway Bankruptcy Law, LLC may be able to represent you if you need to file for bankruptcy. Call (205) 324-4000 to learn more about your legal options.

Disadvantages of using software in filing bankruptcy

People today often take advantage of using computer software and internet technology to make completing tasks more convenient, including bankruptcy filing. Though the internet is a great source for relevant information on how to address financial issues, people should be aware that filing bankruptcy on their own using a software can be risky for mistakes made when filing can be financially costly. 

People may find it cheaper if they file for bankruptcy on their own using available computer programs, however, they might not have as much debt forgiven by creditors using this method. Individuals who have decided to use computer programs when filing for bankruptcy are also vulnerable to the fickle nature of creditors and trustees. Though bankruptcy computer programs can be helpful in the bankruptcy process, it is important to note these systems are limited. They are unable to give personalized advice and still require manual input from the individual seeking financial assistance, giving many opportunities to make costly errors. 

Bankruptcy computer programs in reality have many limitations. If you have decided to file for bankruptcy in Birmingham, a well-versed lawyer at the Greenway Bankruptcy Law, LLC, may provide you legal assistance throughout the entire process. Find out how we may possibly help you address your financial issues today by calling (205) 324-4000.

Cancer survivors likely to experience financial hardships

According to a January 6 article from Fox News, working age cancer survivors are highly likely to face debt and foreclosure or file for bankruptcy. According to the researchers at the Kaiser Permanente Center for Health Research, at least one-third of cancer survivors between the ages of 18 and 64 will likely have to deal with overwhelming debt due to the rapid cost increase for cancer treatment and care.

Reports said that compared to other healthcare, cancer care expenses in the U.S. have tripled in recent years. Of the 4,719 cancer survivors surveyed, researchers found that three percent had sought bankruptcy protection. Researchers also noted that low-incomes, public health insurance, and youth are factors that can lead to heavier financial hardships for cancer survivors.

The legal team of bankruptcy attorneys at Greenway Bankruptcy Law, LLC can help individuals who are looking for relief from their financial stress through bankruptcy or debt negotiation options. To learn more, call us today at (205) 324-4000.

Illegal creditor harassment

People in Birmingham who are dealing with overwhelming debts may, at some point, experience harassment at the hands of creditors attempting to collect payments. However, it is imperative that debtors learn their rights when it come to creditor harassment. In accordance with the Fair Debt Collection Practices Act, the following behaviors will not be tolerated:

  • Creditors that misrepresent themselves in any way
  • Creditors that make unnecessary or too many phone calls to debtors
  • Creditors that make real or imaginary threats to debtors
  • Creditors that speak aggressively when talking to debtors
  • Creditors that threaten to inflict damage to debtors’ property
  • Creditors that make unauthorized charges to debtors

People who believe they have experienced any harassing behaviors from creditors or collectors should understand that there are legal options available for them to protect themselves from abuse.

The lawyers of Greenway Bankruptcy Law, LLC provide legal assistance for people in Birmingham who are experiencing harassment or abuse from creditors. If you are dealing with this type of behavior, contact our legal team today by calling (205) 324-4000 to learn about our services and how we may be able to help you.

Former Redskins player files for Chapter 11 bankruptcy

Former professional football player Clinton Portis recently filed for Chapter 11 bankruptcy in Florida after reports revealed that he was facing debts of over $2.5 million. News sources said the 34-year-old ex-Redskins star filed for Chapter 11 Bankruptcy in the Northern District of Florida on November 5.

Documents revealed that Portis has more than $1 million left on an unpaid mortgage to Residential Credit Solutions. The foreclosure process of the home which Portis built for his mother, for which there is a $920,000 unsettled mortgage, has been halted due to the bankruptcy filing. Portis, who has estimated his assets to value between $1 million and $10 million, is also seeking to be protected from his other debts, such as car loans, income taxes, credit card bills, and gambling debts.

The lawyers at Greenway Bankruptcy Law, LLC in Birmingham represent individuals who seek to relieve financial stress through bankruptcy or debt negotiation. To speak to our financial legal team today about your options, call (205) 324-4000 today.

Financial documents required for bankruptcy

Filing for bankruptcy, while frightening, can often provide individuals and families with a great deal of relief from financial hardships. If you have decided to file for bankruptcy in Birmingham, you will need to collate and provide several important financial documents.

Usually, the bankruptcy court requires debtors to submit their income statements, a complete list of assets, any existing loans or obligations, ongoing leases or contracts, expenditures, and tax returns. The financial documents that will be submitted should be accurate and without omissions. While preparing such documents is a court requirement, it also provides individuals filing for bankruptcy with the opportunity to assess all of their financial obligations.

Working with a lawyer to compile and present all of this information can be the difference between an approval and a denial. It is essential that you submit a complete and accurate application to the court when filing for bankruptcy, and the attorneys at Greenway Bankruptcy Law, LLC can help you do just that. Call us today at (205) 324-4000 to learn more about how we can help you find your financial footing.

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.

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505 20th St N #1220
Birmingham, AL, 35203
Phone: (205) 324-4000
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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.

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