Bankruptcy Law Changes

You’ve probably heard about the “bad changes” to the bankruptcy laws that happened back in 2005. Under the new laws, should you file a Chapter 7 or Chapter 13 bankruptcy petition? Or can you file at all?

Many factors which go into this determination are unique to you, and depend on Alabama state law and the Bankruptcy Code. As your Tuscaloosa bankruptcy lawyer, I can help explain how these changes affect my recommendations to you.

Here are the most significant changes affecting which type of bankruptcy you can file:

• You can’t file a Chapter 7 bankruptcy if you have already done so and received a discharge within the past eight years. This change was designed to avoid abuses in the Chapter 7 protections.

• You must complete credit counseling before you file any type of bankruptcy. The counseling must be completed less than six months before the filing date.

• More paperwork is required for both Chapter 7 and Chapter 13 bankruptcy filings. I help all my clients get this paperwork together.

• The new laws added a maximum income limit for Chapter 7 filings. Ask me for more information on how your income affects your bankruptcy choices.

All this added complexity means that you really need a Tuscaloosa bankruptcy attorney who can give personal attention to your case. Contact me to schedule a free evaluation at your earliest convenience.