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.

Nadya Suleman seeks Chapter 7 bankruptcy protection

Nadya Suleman, who has been deemed ‘Octomom’ by the media, has sought Chapter 7 bankruptcy protection. The single mother of 14 has been trying to support her large family on food stamps and Social Security disability checks.

Her debt has rapidly increased, and she owes close to $1 million to several different creditors. Suleman listed her assets at $50,000 and claims that she has no way of paying this large amount of debt on her own.

Suleman believes that this filing is the best thing for her and her children at this time. She is hopeful that she will be able to provide for her family after emerging from bankruptcy.

If you are considering filing for Chapter 7 bankruptcy protection, you need experienced representation on your side. Please contact the Birmingham Chapter 7 bankruptcy lawyers of Greenway Bankruptcy Law, LLC, by calling (205) 324-4000 today.

Another former professional sports player seeks bankruptcy protection

Yet another former professional sports player has sought bankruptcy protection. Warren Sapp, a former defensive tackle for the National Football League, is the most recent ex-player to file for bankruptcy. He joins the likes of Allen Iverson, Dennis Rodman, and Terrell Owens.

Warren Sapp was employed by the NFL for 13 years and played for the Tampa Bay Buccaneers and the Oakland Raiders during that time. He has recently fallen behind on several payments, and filed for Chapter 7 bankruptcy in a Florida court on March 30. His debts total $6.7 million, which includes a large amount of unpaid child support to the mothers of his four children.

He has announced that his assets are currently at $6.45 million, and his monthly income averages $115,881. He is currently employed by the NFL Network as an analyst, and with his contract ending in August he is not sure if it will be renewed.

Please contact the Birmingham Chapter 7 bankruptcy lawyers of Greenway Bankruptcy Law, LLC by calling (205) 324-4000 if you or someone you know has questions regarding the Chapter 7 bankruptcy process.

Actor Gary Busey files for Chapter 7 bankruptcy

Yesterday, actor Gary Busey filed for Chapter 7 bankruptcy in California.  The 67-year old starred in movies for 45 years before appearing on reality television shows like “Celebrity Rehab,” “Celebrity Apprentice,” and “Celebrity Wife Swap.”

According to Busey’s Chapter 7 filing, he owns less than $50,000 in assets and has between $500,000 and $1 million in debt.  Creditors named in the actor’s bankruptcy include UCLA Medical Center, the IRS, Wells Fargo, L.A. County Waterworks District, and several attorneys.

A statement from Busey’s publicist reads, “As with many great institutions, i.e., General Motors, American Airlines, and others who have utilized the strategic business plan of bankruptcy, Gary’s filing is … the start of a new and clear path toward peace, happiness, and success with his career.”

If you or someone you know is considering filing for personal bankruptcy, contact the Birmingham Chapter 7 bankruptcy lawyers of Greenway Bankruptcy Law, LLC at (205) 324-4000 to learn more about how filing for Chapter 7 bankruptcy can benefit your future.

Birmingham bank may file for Chapter 7 bankruptcy

Superior Bancorp, a Birmingham-based bank corporation, is contemplating bankruptcy after one of its main holdings was auctioned off by federal regulators. The subsidiary, Superior Bank, consisted of 73 banks, which were all sold to pay off creditors.

According to reports, the corporation currently has a debt of $122 million with only $6 million in assets. The company’s stock has stock is also 90 percent lower than it was at this time last year.

Under Chapter 7 bankruptcy, the corporation will be able to liquidate its assets and use the money to pay off creditors.

If you or someone you love is considering filing for Chapter 7 bankruptcy, please contact the Birmingham Chapter 7 bankruptcy lawyers of Greenway Bankruptcy Law, LLC, at (205) 324-4000.

Protected Assets in Chapter 7 Bankruptcy

Filing for Chapter 7 bankruptcy may seem scary because it involves liquidating your assets. However, this sounds harder than it actually is because, under Arizona’s bankruptcy laws, there are certain items that are protected from liquidation.

In most cases, liquidating assets does not mean you will lose your home and car. This is because Arizona’s protected assets include real estate that is valued up to $150,000 and a car that is worth up to $5,000. In addition to these items, $4,000 worth of household items, such as furniture, and personal clothing and jewelry may be retained during liquidation.

Because of these protected assets, you can still maintain a normal lifestyle while liquidating your assets and reorganizing your finances. If you are considering filing for Chapter 7 bankruptcy and would like more information, please contact the Birmingham Chapter 7 bankruptcy lawyers of Greenway Bankruptcy Law, LLC, 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.

Greenway Bankruptcy Law, LLC 505 20th St N #1220, Birmingham, AL, 35203 | Phone Number: (205) 324-4000