Bankruptcy

Hoover Bankruptcy Lawyer

Filing for Bankruptcy in Jefferson County

Few things in life are more stressful or overwhelming than dealing with the weight of significant debt. If you are currently struggling with insurmountable debts, relief is possible. One option is filing for bankruptcy, which can help you regain control of your finances and set you on the path to financial freedom. 

At Pleasant Legal Solutions, we help clients throughout Jefferson County file for bankruptcy. What’s more, we are here to help you understand the process, including the different types of bankruptcy, the pros and cons of each, and which solution is best for your unique situation. Our Hoover bankruptcy attorney, Jeanetta Pleasant, has extensive experience and has helped more than 1,000 clients successfully navigate the bankruptcy process. Learn how we can help you today.

Call (205) 736-8984 or contact us online for a free, no-obligation consultation. We are here to answer your questions and address any concerns you may have. 

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What Is Bankruptcy? 

Bankruptcy is a type of legal proceeding that allows individuals, business entities, and other qualifying parties to seek debt relief. The right to file for bankruptcy is protected under federal law; the Bankruptcy Code outlines the various processes, eligibility requirements, and other elements of bankruptcy law. 

While each type of bankruptcy differs slightly, the general bankruptcy process goes as follows: 

  • The person in debt (known as the “debtor”) files a petition for bankruptcy 
  • The debtor’s properties and assets are assessed and evaluated 
  • The debtor’s debts are either discharged or a repayment plan is set up based on the type of bankruptcy the debtor is petitioning for, whether or not they are eligible for a certain type of bankruptcy, and other factors

Depending on the type of bankruptcy you file for, you may be required to repay a portion or all of your debts over a three- to five-year period. In other instances, your debts may be discharged or repaid using proceeds from the sale of your nonexempt assets. 

What Are the Benefits of Filing for Bankruptcy? 

The main benefit of filing for bankruptcy is that it allows you the opportunity to obtain relief from certain types of debts. This includes most credit card debt, medical debt, personal loans, and other unsecured debt. Note that certain types of debt—including student loans, child support payments, and payments owed due to a personal injury lawsuit—cannot be discharged under bankruptcy. 

Some of bankruptcy’s advantages include that it: 

  • Provides debt relief and a path to financial freedom
  • Immediately stops creditor harassment 
  • Ends collections efforts by creditors 
  • Can allow you to avoid foreclosure and keep your home
  • May stop future or further legal action 
  • Provides the opportunity to settle your debts for less than what you owe

Contrary to popular belief, you may also become eligible for new lines of credit soon after filing for bankruptcy. You may even see improvements to your credit score after having your debts discharged through bankruptcy. 

Types of Bankruptcy

There are several different types of bankruptcy, each with its own set of eligibility requirements and its own pros and cons. 

The two most common types of bankruptcy include: 

  • Chapter 7Chapter 7 bankruptcy allows for the liquidation of certain debts. Rather than repaying your creditors, you can have debts discharged in exchange for selling certain nonexempt assets, such as non-primary residences and expensive vehicles.
  • Chapter 13Chapter 13 allows you to restructure and repay your debt over time. Typically, you must come up with a repayment plan that must be approved. In most cases, Chapter 13 lets you keep most if not all of your assets and properties.

Other types of bankruptcy include Chapter 11, Chapter 12, Chapter 15, and Chapter 9. These are much rarer, however; most people facing significant consumer debts qualify for either Chapter 7 or Chapter 13 bankruptcy. 

How the Bankruptcy Lawyer at Pleasant Legal Solutions Can Help 

Navigating the bankruptcy process can be extremely difficult, especially when you are dealing with the stress of creditor calls and other collections processes. At Pleasant Legal Solutions, we are here to guide you through the entire process so that you can focus on regaining financial control.

Our Hoover bankruptcy lawyer can assist you in determining whether bankruptcy is the best option for you based on the details of your situation, as well as which type of bankruptcy is best suited to your circumstances. Our team can answer your questions and address your concerns throughout the process, all while aiding in filing paperwork, meeting eligibility requirements, and avoiding common mistakes. 

Our goal is to make the process as simple and stress-free as possible for you. We invite you to reach out to our firm today to learn more during a free initial consultation. We proudly serve clients in Hoover, Birmingham, Bessemer, and the surrounding areas. We offer payment plans and have a success rate of over 95% in bankruptcy and related cases. 

Give us a call at (205) 736-8984 or contact us online using our secure form. 

Commonly Asked Questions

Can I keep my property if I file for bankruptcy in Hoover?

The ability to keep your property when filing for bankruptcy depends on the type of bankruptcy you file. With Chapter 13 bankruptcy, you are more likely to retain most, if not all, of your assets because it involves restructuring your debts into a manageable repayment plan. Chapter 7 may require the sale of certain nonexempt assets to discharge debts. It's important to consult with a bankruptcy attorney to understand how your assets would be affected based on your unique circumstances.

What is the difference between Chapter 7 and Chapter 13 bankruptcy?

Chapter 7 bankruptcy involves the liquidation of nonexempt assets to discharge certain debts, meaning you may have to sell properties like non-primary residences or expensive vehicles. On the other hand, Chapter 13 bankruptcy allows you to restructure and repay your debts over time with an approved repayment plan, usually enabling you to retain most of your assets. Both have distinct eligibility requirements and benefits, and the right choice depends on your specific financial situation.

Why Choose Pleasant Legal Solutions?

What Makes Us Different
  • Compassionate & Honest Representation
    We are here to help you start your path toward financial freedom.
  • Offering 100% Free Consultations

    Get started with a free consultation today.

  • $0 Down
    We can help you file your bankruptcy with no money down.
  • We Offer Payment Plans
    Get the support you need with flexible payment plan options.

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