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It can actually be the start of something good.
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Mutual Aid Associations and Alabama Bankruptcy Exemptions

A person filing for bankruptcy protection in Alabama may be permitted to use the state’s bankruptcy exemptions to protect some of their property and assets. In particular, they may use their membership in a mutual aid society or association without losing those funds to bankruptcy. These funds can help an individual keep their budget balanced, as they can provide some much needed income.

If you are going through a period of financial distress and would like to learn more about the potential relief that might be available through bankruptcy, we can help. Contact the Birmingham bankruptcy attorneys of Greenway Bankruptcy Law, LLC, by calling (205) 324-4000 for a free consultation regarding your bankruptcy options.

Mutual Aid Societies

According to the Alabama bankruptcy code, mutual aid society benefits are exempt from bankruptcy. Many people may belong to mutual aid associations and can use this exemption to their benefit turning their times of financial turmoil. Some of the following groups may be considered mutual aid associations:

  • Trade or credit unions
  • Hometown associations for immigrants
  • Fraternal societies
  • Help organizations

These groups are meant to help a person work through difficult times and help others when they are financially successful. As the benefits from these groups can significantly help a debtor to help themselves, the financial benefits associated with these societies are not subject to bankruptcy proceedings.

Contact Us

If you have been trying to manage a massive debt burden and simply cannot handle it any longer, we may be able to help you with your bankruptcy proceedings. To learn more about exemptions and your bankruptcy options, contact the Birmingham bankruptcy lawyers of Greenway Bankruptcy Law, LLC, at (205) 324-4000 today.

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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