Phenix City Bankruptcy Attorneys
Take Charge of Your Financial Situation in the Columbus, GA Area
According to data collected by the Administrative Office of the U.S. Courts, there were over 472,000 Chapter 7 non-business Bankruptcy filings in 2017. There were over 294,000 Chapter 13 non-business filings in the same year. Another study conducted in 2017 indicated that Alabama ranked #3 on the list of states with the most bankruptcy cases filed.
Filing for bankruptcy is a big decision, and one not to be made lightly. Although bankruptcy often has a negative connotation, it can provide people with much-needed relief when debt grows out of hand. Bankruptcy was designed to help people regain control over their financial situation.
The bankruptcy filing process can be complex. There are several different types of bankruptcy you can file for, each with different requirements and effects. At Loftin, Loftin & May, our Phenix City bankruptcy lawyers can guide you through the process and make sure you are making the best decisions for your situation.
Call (334) 310-0208 to schedule a meeting with our bankruptcy lawyer today. We serve clients throughout Alabama and Georgia.
Let Our Team Fight For Your Rights
Are you or your family being affected by a foreclosure? Contact our dedicated team to learn how we can help you fight for your rights.
Is your house or other form of property being repossessed? The attroneys at Loftin, Loftin & May are here to help fight for your rights.
Are your or a loved ones wages being unfairly witheld? Contact our attorneys today to obtain the justice you need and deserve.
What Is the Cause of Most Bankruptcy Cases?
Studies indicate that most bankruptcy cases are caused by financial hardship, not necessarily irresponsible spending. Some common contributing factors can include:
- Unforeseen medical expenses
- Sudden injury or illness
- Loss of a job
- Going through a divorce
- An income reduction
There are numerous reasons that someone may be forced for file for bankruptcy. No matter what your situation may be, we're here to help you recover and get back on your feet.
Call Loftin, Loftin & May today at (334) 310-0208 to schedule your free initial consultation.
Which Bankruptcy Chapter is Right for Me?
There are many chapters of bankruptcy, but most people only need to focus on Chapter 7 or Chapter 13 bankruptcy. These are usually the best options for individuals who are considering bankruptcy because they can no longer afford to pay their debts.
A brief overview of Chapter 7 and Chapter 13 bankruptcy:
- Chapter 7 bankruptcy – Chapter 7 is typically called a straight bankruptcy. Most all of your debts are dischargeable. If there is a debt that you would like to keep, you can usually do that through a reaffirmation agreement. On the majority of chapter 7 bankruptcies, you can keep all of your assets.
- Chapter 13 bankruptcy – You do not need to forfeit your assets in Chapter 13 bankruptcy. Instead, your attorney will draft a three-to-five-year payment plan with your creditors. The court will review the plan to make sure it benefits both you and the creditors. These payment plans are not subject to additional interest.
Regardless of which type of bankruptcy you file, your creditors are forbidden from contacting you once the paperwork has gone through. If they continue to harass you even after filing, contact your attorney so they can remind the creditor of the arrangement.
Even though it can help, bankruptcy is not an easy thing to go through. Our Phenix City bankruptcy lawyers know how difficult it can be to balance debt payments while supporting yourself or a family. We can help protect the assets that are most important to you so that they will not be seized by your creditors or the court. Learning more about you and your situation will help us protect what’s most important to you.
Drunk Driving Accident $12.5 MillionSettlement on behalf of an individual who was killed in a drunk driving accident.
Construction Accident $10 MillionVerdict won against a general contractor in a wrongful death case.
Defective Drug $5 MillionVerdict won against a pharmaceutical supplier for a wrongful death of a nursing home resident.
Get started with a case consultation to learn what our team can do for your case.Schedule Consultation