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.

Students Facing Debt Due to College Loans

The number of pending student loan cases in Birmingham has significantly increased in recent years. Sixty-two lawsuits have been filed against graduated students for their unpaid loans, which is four times the amount that was filed in 2003.

Along with rising tuition prices, the amount students take out for loans has also greatly increased. Rising costs coupled with the lack of available jobs once a student graduates has contributed toward this trend of early debt.

Those who owe money for loans are not given very much leniency. In order to receive the money for loans, prosecutors are sometimes able to place liens on the houses of people who owe money or, even, take money out of a debtor’s saving account or salary.

College administrations have attempted to combat this trend by issuing more grants.

If you are facing personal debt, talk to someone who can help. Please contact the Birmingham debt negotiation lawyers of Greenway Bankruptcy Law, LLC at (205) 324-4000.

Birmingham Aircraft Company Files for Chapter 11

Alabama Aircraft Industries, Inc., a company that is based out of Birmingham, has filed chapter 11 bankruptcy in order to reorganize their finances.

The company began facing financial trouble when they lost $5.8 million in revenue. The company also had expensive obligations for pension plans, which left them feeling as if they were in a long-term debt. By filing for chapter 11 bankruptcy, the company will be able to organize their pension plans in a way that does not produce debt. They are expecting to completely get out of debt by the summer of 2011.

Debt can happen to anyone. If you have debt and are thinking of filing for bankruptcy, please contact the Birmingham bankruptcy attorneys of Greenway Bankruptcy Law, LLC at (205) 324-4000.

Homeowners Receive Assistance to Reduce Foreclosures

Governor Bentley of Alabama has created a program that would help to prevent future home foreclosures by assisting homeowners with their mortgages. The federally funded program will aid families for up to 12 months and will be short-term, one-time assistance.

It has been speculated that, in the spring, the housing market will be hit with a new wave of foreclosures. Officials are hoping that this new program will prevent any future families from having to leave their homes. 500 families’ applications to receive the assistance have already been submitted by the Alabama Housing and Finance Authority.

If you and your family are facing a foreclosure, please contact the Birmingham foreclosure defense lawyers of Greenway Bankruptcy Law, LLC at (205) 324-4000.

Alabama Ranks Tenth in Personal Debt

According to CareOne Services, the state of Alabama ranks number ten in the growing epidemic of personal and consumer debt.

The citizens of Alabama had an average debt of $16,591, a number that included personal and credit card debts. The study did not include any debt due to mortgages.

Although Alabama rated tenth in the country, it was only a little over $3,500 away from reaching the top spot for consumer debt. It was also found that Alabama residents had a 579 credit score and and an average of seven creditors per person.

If you are dealing with personal debt and need help with your financial situation, please contact the Birmingham personal bankruptcy lawyers of Greenway Bankruptcy Law, LLC, today at (205) 324-4000.

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Greenway Bankruptcy Law, LLC
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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