by Paula Greenway | Dec 31, 2009 | Chapter 11 Bankruptcy, Greenway Bankruptcy Law
Alabama’s Colonial BancGroup, the holding company that controlled Colonial Bank, is working its way out of bankruptcy. Colonial was one of three Alabama banks which failed during the recent economic meltdown; when it went under, it had approximately $25 billion in...
by Paula Greenway | Dec 23, 2009 | Alabama Bankruptcy, Bankruptcy Filing, Bankruptcy Law, Birmingham Bankruptcy, Chapter 13, Chapter 7, Greenway Bankruptcy Law, Personal Bankruptcy
A garnishment is a way of collecting payment from a defendant. It orders a third party, which owes money to the defendant, to pay money directly to a plaintiff.Garnishments may cause significant financial hardship for those who have a number of debts. For this reason,...
by Paula Greenway | Dec 17, 2009 | Alabama Bankruptcy, Bankruptcy Filing, Birmingham Bankruptcy, Greenway Bankruptcy Law, Personal Bankruptcy
Many people who have poor credit ratings often seek others with better credit ratings to cosign their loans. By getting a cosigner, the borrower increases his or her chance of securing a loan.From a creditor’s perspective, a cosigned loan is less risky because the...
by Paula Greenway | Dec 9, 2009 | Alabama Bankruptcy, Bankruptcy Filing, Bankruptcy Law, Birmingham Bankruptcy, Greenway Bankruptcy Law, Personal Bankruptcy
When small businesses file for bankruptcy, their owners’ personal assets are typically protected from creditors. The filing typically freezes or erases creditors’ claims on the business’s assets.However, if the owner is liable for the businesses debts, then the...
by Paula Greenway | Dec 4, 2009 | Bankruptcy Filing, Bankruptcy Law, Greenway Bankruptcy Law, Personal Bankruptcy
Given the recent economic crisis, more individuals and families are filing for bankruptcy. Some of these filers, however, may not actually be in a position to file for bankruptcy.In some cases, bankruptcy filers may not actually be in a position to file for bankruptcy...
