Alabama Consumer Bankruptcy Lawyer
Chapter 7 bankruptcy is what most people think of when they think of "bankruptcy," because it almost immediately eliminates all unsecured debts while allowing you to maintain your credit accounts with your secured creditors. However, under new federal regulations, you must first qualify for Chapter 7 under the means test.
If you are unsure whether you qualify for Chapter 7 bankruptcy, The Law Firm of Eric M. Wilson, LLC, of Tuscaloosa, Alabama, can help you. We are not just another name, number and fee. We take the time to listen to your concerns and help you achieve debt relief in an efficient, cost-effective manner.
What Is the Means Test?
The means test compares your current household income to the state's median income and household size. If your income falls below the state median, then you qualify to file Chapter 7 automatically. If your income is above the state median, attorney Wilson can determine if you pass the means test by some other means, which would then mean you qualify to file Chapter 7.
Our Tuscaloosa Chapter 7 bankruptcy lawyer will analyze your finances and help you understand if Chapter 7 is the right option for you. If you do not qualify for Chapter 7, we will explore other options such as Chapter 13 bankruptcy to obtain the debt relief you need.
What Does Chapter 7 Do?
Also called liquidation bankruptcy, Chapter 7 gives you the opportunity to start over financially by eliminating all unsecured debts such as credit card debts or medical bills. Filing Chapter 7 will:
- Stop creditor harassment
- Prevent wage garnishment
- Temporarily halt foreclosure so you can consider your options
- Protect your property from repossession
You must be current on or be able to reaffirm secured debts, such as your mortgage or car payment, in Chapter 7. Otherwise, creditors can continue to harass you for unpaid bills and you could risk foreclosure or having your car repossessed. Our firm will explain your rights in clear, easy-to-understand terms, so you always know what to expect.
Contact Us for a Free Initial Consultation
We strive to offer the supportive atmosphere and dedicated representation you need to get out of debt through bankruptcy. Contact our firm by calling 205-409-0056 or toll free at 877-504-7101 to schedule a free initial consultation with our Alabama bankruptcy attorney.
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 website 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.