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.

Top 5 Alabama State Bankruptcy Exemptions

As you face Chapter 7 bankruptcy proceedings, you may be able to protect some of your most important properties through state exemptions. However, these exemptions often have substantial limitations and need to be used very precisely and intelligently to have their maximum effect.

If you are currently considering a bankruptcy filing, we can help you to figure out where to start. To learn more about how we may assist you in your effort begin your new life without debt, contact the Birmingham bankruptcy lawyers of Greenway Bankruptcy Law, LLC, by calling (205) 324-4000.

#1: Homestead Exemption

The homestead exemption in Alabama provides a $5,000 protection limit for real estate properties and mobile homes. This amount can be doubled for married couples. This exemption may prove crucial for you and your family to protect your home from foreclosure.

#2: Wildcard Exemption

One of the most important exemptions available under Alabama’s bankruptcy code is the wildcard exemption. You may use this exemption to cover any property, not including life insurance policies, up to $3,000.

#3: Public Benefit Exemption

Many Americans require financial assistance just to get by. If you are receiving assistance due to unemployment, workers’ compensation, permanent disability, or a similar program, you may be allowed to keep these benefits.

#4: Insurance Exemption

The state of Alabama will protect certain types of insurance from bankruptcy proceedings. For instance, life insurance policy proceeds that go to your spouse or children may be exempted from bankruptcy. Also, disability insurance is considered exempt property up to $250 each month.

#5: Tools of the Trade Exemption

Alabama’s exemption for a debtor’s tools of the trade is very limited, but does protect military personnel in the state from losing their uniforms and weapons. If you serve in Alabama, these job-specific properties may be protected.

Contact Us

If you are facing an overwhelming amount of debt, you may file bankruptcy under Chapter 7. To learn more about your exemption options and how we may be able to help you plan ahead, contact the Birmingham bankruptcy lawyers of Greenway Bankruptcy Law, LLC, at (205) 324-4000 today.

"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

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