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Federal & State Bankruptcy Laws
Bankruptcy law provides for the development of a plan that allows a debtor, who
is unable to pay his creditors, to resolve his debts through the division of his
assets among his creditors. The following is list of laws related to Bankruptcy:
Repossession is the power of the creditor to take back goods
There are two types of loans: secured and unsecured. A secured loan is one that requires you to pledge something as collateral. For example, if you purchase a car, the creditor will usually require you to put up the car as collateral. On the other hand, an unsecured loan, does not require collateral. Using a credit card is usually an unsecured loan.
Definition:
Bankruptcy filed by the debtor itself; data from the U.S. Administrative Office of the Courts subdivides bankruptcies into voluntary and involuntary.
United States Trustee
Definition:
An agent of the U.S. Department of Justice appointed to assist in bankruptcy cases. The U.S. Trustee administers many of the duties of the court including appointing committees.
Post-petition
Definition:
Occurring after the filing of a petition. Preference - a payment by a debtor made during a specified period (90 days or one year) prior to the filing that favors one creditor over others.
If you live in the following cities and need a Bankruptcy attorney you should contact
our Bankruptcy Attorney as soon as possible:
Alabaster
Albertville
Alexander City
Anniston
Athens
Atmore
Auburn
Bay Minette
Bessemer
Birmingham
Cullman
Daphne
Decatur
Dothan
Enterprise
Fairhope
Florence
Fort Payne
Gadsden
Hartselle
Huntsville
Madison
Mobile
Montgomery
Opelika
Ozark
Pelham
Phenix City
Pinson
Prattville
Selma
Sylacauga
Talladega
Theodore
Trussville
Tuscaloosa
Wetumpka
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