Best Bankruptcy Lawyers in Mobile

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Phelps Dunbar LLP.

Phelps Dunbar LLP.

Mobile, United States

Founded in 1853
300 people in their team
Our health law attorneys represent hospitals, physicians, managed care organizations and other health care providers throughout the Southeast as...
English
Bond & Botes Law Offices

Bond & Botes Law Offices

Mobile, United States

Founded in 1991
20 people in their team
The Bond & Botes Law Offices are located in Alabama and Mississippi. We offer free consultations to anyone looking to help create a new financial...
English

About Bankruptcy Law in Mobile, United States

The Bankruptcy law in Mobile, United States is primarily governed by federal law and is designed to help individuals and companies who can no longer meet their financial obligations to get a fresh start by liquidating assets to pay their debts or by creating a repayment plan. There are a few different types of bankruptcy that an individual or company can file for, but the most common types are Chapter 7 (liquidation) and Chapter 13 (reorganization).

Why You May Need a Lawyer

Bankruptcy is a complicated process that involves intricate laws and procedures. If not handled properly, you may lose your rights or property. A lawyer can help explain the bankruptcy laws and how they apply to your situation, help you understand your options and guide you through the process with your best interests in mind. Common situations where you may need a lawyer include if you are facing foreclosure on your home, repossession of your vehicle, wage garnishments, or a lawsuit by creditors.

Local Laws Overview

While bankruptcy law is mostly federal, there are certain local laws and regulations in Mobile, Alabama that can affect the process. For example, there are specific Alabama exemptions that determine what property you can keep in Chapter 7 bankruptcy. There are also local rules about credit counseling requirements, debtor education courses, and where and how to file for bankruptcy in your district. It's crucial to be aware of these local rules and how they may apply to your case.

Frequently Asked Questions

Will bankruptcy wipe out all my debts?

No. There are certain types of debts, such as child support, alimony, certain tax debts, and most student loans, that can't be discharged in bankruptcy.

Will I lose all my property if I file for bankruptcy?

Not necessarily. Specific property is exempt from liquidation under both state and federal law. An attorney can help you interpret these laws.

Can I transfer my assets to someone else before filing for bankruptcy to protect them?

Generally, this is not a good idea and could be considered fraudulent. Bankruptcy fraud is a serious crime.

Does filing for bankruptcy prevent creditors from taking action against me?

Yes, once you file for bankruptcy, an "automatic stay" goes into effect, which stops most collection activities against you.

Can I file for bankruptcy more than once?

Yes, but there are time limits between filings. Your attorney can explain these limits.

Additional Resources

The United States Bankruptcy Court for the Southern District of Alabama and the Alabama State Bar Association offer resources and guides on bankruptcy. Additionally, the National Consumer Law Center and the American Bankruptcy Institute also provide helpful information and resources for anyone facing bankruptcy.

Next Steps

If you are thinking about filing for bankruptcy, the first step is to consult an experienced bankruptcy lawyer who can guide you through your options and the process. An attorney can help you understand how the bankruptcy laws apply to your particular situation and help you make informed decisions about your financial future.

Disclaimer:
The information provided on this page is intended for informational purposes only and should not be construed as legal advice. While we strive to present accurate and up-to-date information, we cannot guarantee the accuracy, completeness, or currentness of the content. Laws and regulations can change frequently, and interpretations of the law can vary. Therefore, you should consult with qualified legal professionals for specific advice tailored to your situation. We disclaim all liability for actions you take or fail to take based on any content on this page. If you find any information to be incorrect or outdated, please contact us, and we will make efforts to rectify it.