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.

Bills to limit payday loans in Alabama stall

Laws attempting to change payday and title loans in Alabama stalled recently in the Alabama Legislature.

The bills were being reviewed in the House Committee, but failed after industry leaders argued that the bills would substantially affect their business, even causing them to go out of business. Rod Scott and Patricia Todd, both Democratic representatives from Birmingham, sponsored the bills that were aimed at lowering the interest rates for payday and title loans to 36 percent on a yearly basis.

After these bills stalled, Senate President Pro Tem Del Marsh introduced a bill that would still lower payday loan interests rates but in a less significant manner. However, his bill also saw opposition from the same business leaders and died after not receiving enough support or having enough time to review it.

Having accumulated debt from payday loans can be overwhelming, and it may leave you feeling hopeless. Fortunately, however, the legal team at Greenway Bankruptcy Law, LLC, can help you choose the best option for working on your debt when you call (205) 324-4000.

2012 sees significant decline in bankruptcy filings

The most recent statistics from United States Bankruptcy Courts indicate that overall non-business bankruptcy filings are on the decline for the year 2012 when compared to the same period from the year before.

In the fiscal year ending on September 30, both Chapter 7 bankruptcy and Chapter 13 bankruptcy filings dropped significantly. Reports show that the number of Chapter 7 bankruptcies fell by 162,613, nearly 16 percent. The total number of Chapter 13 filings was reduced by close to 10 percent, from 417,530 to 375,521.

Bankruptcy filing rates varied by state, with Nevada topping the list and Alaska and North Dakota at the bottom.

filing for bankruptcyChapter 7 bankruptcy is the most common form of bankruptcy protection and makes up a huge majority of all bankruptcy cases. It involves liquidating your assets to make up for debts, while Chapter 13 bankruptcy allows a debtor to come up with a repayment plan. A Chapter 13 bankruptcy attorney can help you come up with a plan that will be approved.

Consumer credit cart debt is also down for the year by as much as 1.5 percent.

Nevertheless, not everyone has recovered from the harsh economic times of the past few years just yet. If you are living with overwhelming debt, filing for bankruptcy may help you find relief and allow you to begin your journey towards a debt-free life. Enlisting the services of a bankruptcy lawyer can help you determine the best course of action.

AFA Foods, Inc. files for Chapter 11 bankruptcy

The meat production company, AFA Foods, Inc. has sought the protection of Chapter 11 bankruptcy. The filing took place on Monday at the U.S. Bankruptcy Court in Delaware.

The decline of their revenue was directly linked to the “pink slime” uprising. This term was popularized by the media, and referred to a type of textured beef that was included in most ground beef products. The product resembles a pink putty, and people were outraged that this strange substance was used in the meat they were consuming.

Consumers purchasing ground beef started to fall, and AFA Foods, Inc. was negatively affected. Meat production companies were told they had to remove this filler beef in order to continue selling in certain markets. AFA Foods, Inc. was unable to find a replacement for this substance in their products, and therefore chose to file for bankruptcy.

If you or someone you know has questions regarding filing for bankruptcy, please contact the Birmingham bankruptcy lawyers of Greenway Bankruptcy Law, LLC by calling (205) 324-4000 today.

Personal bankruptcies decrease in 2011

Last week, the National Bankruptcy Research Center announced that personal bankruptcies decreased by 12 percent in 2011.  A total of 1.35 million people in the U.S. filed for Chapter 7 or Chapter 13 bankruptcy last year.

In 2010, about 1.5 million people filed for personal bankruptcy.  While about 1 in every 150 Americans filed for bankruptcy in 2010, about 1 in every 175 Americans filed for bankruptcy in 2011.

Last year, Chapter 7 bankruptcies filed in the U.S. deceased by 17 percent, and Chapter 13 bankruptcies decreased by 25 percent.  Chapter 7 and Chapter 13 bankruptcies are the most common types of bankruptcy in the U.S.

Bankruptcy filings increased slightly in late 2011.  Because of this, experts expect to see growth in bankruptcy filings in 2012.

To learn more about the benefits of filing for personal bankruptcy, contact the Birmingham personal bankruptcy attorney, Paula Greenway, at (205) 324-4000 today.

Bankruptcies down in fiscal 2011

The American Bankruptcy Institute, a bankruptcy filing research organization, recently reported that bankruptcy filings dropped in fiscal 2011.

A total of 1.47 million bankruptcies were filed in the U.S. through September.  According to the ABI, this fiscal year’s filings were 8 percent lower than the total number of bankruptcies filed in fiscal 2010.

Overall, business bankruptcy filings were 18 percent lower in fiscal 2011 than in fiscal 2010.  Personal bankruptcy filings also decreased by 11 percent.

1.06 million personal bankruptcies were filed between January 2011 and September 2011. Samuel J. Gerdano, executive director of the ABI, stated, “The decline in consumer bankruptcies is the residue of a sustained debt deleveraging by U.S. households.”

If you or someone you know is seeking assistance filing for personal bankruptcy in Birmingham, contact the Birmingham personal bankruptcy lawyers of Greenway Bankruptcy Law, LLC at (205) 324-4000 to learn more about how we can help you.

Personal bankruptcies continue to fall in October

In October, personal bankruptcies decreased for the fourth consecutive month.  Experts suspect the decline in consumer bankruptcy filings is related to a decrease in the use of credit.

Executive director of the ABI Samuel Gerdano stated, “The declining filings correlate to tightened consumer spending and the overall pull back in consumer credit associated with a stagnant economy.”

This week, the National Bankruptcy Research Center and the American Bankruptcy Institute released data on bankruptcies filed in the U.S. in the month of October.  According to the two, a total of 106,255 personal bankruptcies were filed across the country last month.

Compared to October 2010, 19.6 percent fewer personal bankruptcies were filed in the U.S.  Last month’s personal bankruptcy filings also experienced a 2.1 percent month-over-month decrease.

If you or someone you know is considering filing for bankruptcy, contact the Birmingham personal bankruptcy lawyers of Greenway Bankruptcy Law, LLC at (205) 324-4000 to learn more about your filing options.

Percentage of seniors filing for bankruptcy on the rise

Several recent bankruptcy studies have concluded that the percentage of seniors seeking bankruptcy protection is on the rise.

For instance, one study says that in 2006, seniors accounted for 7.8 percent of the nation’s total bankruptcy filings.  In 2009, the number of seniors filing for bankruptcy increased to 8.3 percent of the total amount of bankruptcies filed in the U.S.

Experts in bankruptcy say that the demographic of people age 65 and older is the fast growing demographic choosing bankruptcy.  One study notes, “While health issues and medical debts are also contributing to bankruptcy filings by the elderly, credit card debt among the elderly has also risen, with a median of $22,562 being owed to credit card companies among filers 65 years and older.”

Contact the Birmingham personal bankruptcy lawyers of Greenway Bankruptcy Law, LLC at (205) 324-4000 today, if your or someone you love is seeking experienced legal representation to assist them in filing for bankruptcy.

Personal bankruptcies decrease in 2011

709,303 personal bankruptcies were filed between January 1, 2011 and June 30, 2011.  This is 7.9 percent fewer than the number of personal bankruptcies filed in the same time period in 2010.

According to the American Bankruptcy Institute, 2010 had the highest number of bankruptcies filed since new bankruptcy laws went into effect in 2005.  Experts predict that a total of 1.46 million bankruptcies will be filed in the U.S. by the end of this year.

119,768 personal bankruptcies were filed in the U.S. in June.  This is a 4.3 percent increase from the number of personal bankruptcies filed in the month of May and a 5 percent year-over-year decrease.

If you are considering filing for personal bankruptcy, contact the Birmingham personal bankruptcy lawyers of Greenway Bankruptcy Law, LLC at (205) 324-4000 and set up an appointment to meet with one of our attorneys today.

Personal bankruptcy filings down in May

According to the American Bankruptcy Institute, the number of people in the United States that filed for bankruptcy last month was 16 percent lower than the number of people who filed for bankruptcy in May 2010.

Last month, a total of 114,803 people filed for chapter 7 and chapter 13 bankruptcy.  Last year, 136,142 filed for personal bankruptcy in the month of May.

Bankruptcies in the first quarter of the year were 6 percent lower than the number of bankruptcies filed in the first quarter of 2010.  From January to March, a total of 340,012 personal bankruptcies were filed in the United States.  In the first quarter of 2010, 363,215 people filed for personal bankruptcy.

To discuss the steps to take to file for personal bankruptcy, contact the Birmingham personal bankruptcy lawyers of Greenway Bankruptcy Law, LLC at (205) 324-4000 today.

Jefferson County May File for Bankruptcy

Alabama’s Jefferson County is in serious financial trouble after several alleged bribes with investors and building a new sewage system that may sink the county altogether.

The county loaned money by several Wall Street banks, such as J.P. Morgan, who served as investors when the county needed to rebuild its sewage system. According to reports, the investors created a complex deal involving swaps, and, now, the county owes investors about $3.2 billion for its new sewage system.

The county has been advised to file Chapter 9 bankruptcy, which may do away with occupational taxes. If Jefferson County does file for bankruptcy, it will be the largest county bankruptcy in the U.S.

Financial problems can feel like the end of the world, but you have options. If you are facing a troublesome financial situation and would like to discuss filing for bankruptcy, please contact the Birmingham personal bankruptcy lawyers of Greenway Bankruptcy Law, LLC 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.
Schedule an Appointment
In the News

Greenway Bankruptcy Law, LLC
505 20th St N #1220
Birmingham, AL, 35203
Phone: (205) 324-4000
Tuscaloosa: (205) 737-3350
Gadsden: (256) 467-6650

Archives

Categories

Blogroll

Admin

home  |  firm profile  |  practice areas  |  articles  |  faqs  |  blog  |  contact us  |  evaluation  |  sitemap  |  Log in
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+