Top Mobile, AL Business Bankruptcy Lawyers Near You
11 North Water Street, RSA Tower, Suite 22200, Mobile, AL 36602
211 North Water Street, Suite 10290, Mobile, AL 36695
8335 Gayfer Road Extension, Suite B, Fairhope, AL 36532
4317-A Midmost Drive, Mobile, AL 36609-5589
11 North Water Street, Ste 13290, PO Box 350, Mobile, AL 36601
104 Saint Francis Street, Suite 300, Mobile, AL 36602
150 Government St, Suite 2000, Mobile, AL 36602
11 North Water Street, Suite 23200, Mobile, AL 36602
118 N Royal St, Suite 404, Mobile, AL 36602
1 St. Louis Street, Suite 1000, Mobile, AL 36602
PO Box 7128, Mobile, AL 36670
1 St. Louis Street, Ste 1002, Mobile, AL 36602
One Timber Way, Suite 101, Daphne, AL 36527
257 St. Anthony St, PO Box 2394, Mobile, AL 36652
101 Dauphin Street, Suite 1000, Mobile, AL 36602
454 Dauphin Street, PO Box 3123, Mobile, AL 36652
11 North Water Street, Suite 24290, Mobile, AL 36602
764 Downtowner Loop West, Mobile, AL 36609
PO Box 851115, Mobile, AL 36685
11 North Water St, Suite 1200, Mobile, AL 36602
23690 US Hwy 98, Ste F1, Fairhope, AL 36532
Mobile Business Bankruptcy Information
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What Is Bankruptcy?
Bankruptcy is a legal process that allows people to get out from under debts that are causing serious financial harm. Through the bankruptcy process, you may be able to get rid of debts like medical bills, credit card bills, and other unsecured debts. Factors such as your income and whether you have assets that you can sell to pay off some of the debts are taken into account when filing for bankruptcy and will determine what happens.
What Happens When I File for Bankruptcy?
When you file for bankruptcy, you will be under a federal bankruptcy court’s supervision and protection. During this time, you, your lawyer, the court, and your creditors will work on a plan for discharging your eligible debts. Collectors will also be unable to repossess property and garnish your wages or bank accounts during this time.
How Much Does It Cost To File for Bankruptcy?
There is no easy answer to this question. The ultimate cost will be a mix of court filing fees and what you owe your attorney for guiding you through the process. What you owe will depend on how complicated your case is and whether there are any prolonged disputes with creditors. Most likely, however, the debt relief that comes with bankruptcy will outweigh any fees.
How Long Does Bankruptcy Stay on Your Credit Report?
A Chapter 7 bankruptcy filing will stay on your credit report for up to 10 years, while a Chapter 13 will remain for up to seven years. A bankruptcy filing will also harm your credit score. However, if you need to file for bankruptcy, it’s likely your score is not that high anyway, and your bankruptcy will give you a chance at a fresh start and time to rebuild your credit score.