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When it comes to eliminating debt, there are really only three broad strategies from which to choose. If you are struggling with debt problems, you should consider the “big picture” as you try to intelligently assess your options. Looking at the “big picture” will help you either solve your problems or prepare you to consult with a competent debt relief attorney.

A Chapter 13 Bankruptcy case, also known as a debt-consolidation bankruptcy, is a lengthy process.

In several recent consultations with prospective clients and current clients, I have noticed a recurring theme; too many married couples keep their finances separate. Neither spouse knows how much income the other is making or the amount of debt the other owes and sometimes a combination of the two.

In Alabama, the answer is YES.  If you are receiving a tax refund that includes an earned income tax credit (EITC), then that portion of your refund is protected pursuant to Alabama Code § 38-4-8 (1975).  In 2005, the Eleventh Circuit of the United States Court of Appeals answered this question directly in the case of In re James, 406 F.3d 1340 (11th Cir 2005), by finding that Alabama Code § 38-4-8

According to recently released results of a survey conducted by the American Psychological Association (APA), nearly three fourths of Americans are experiencing extreme financial stress. The majority of these are parents, younger generations and lower-income households.

Most people have at least one bank they are loyal to and usually you will have multiple types of accounts with that bank.  I am sure that whatever bank you currently do business with offers you incentives and seemingly great deals to open other types of accounts with them.  The new account could be a credit card, car loan, a mortgage or home equity loan, or home equity line of credit.

The Honorable Jenny Harris Henderson has become the newest United States Bankruptcy Judge for the Northern District of Alabama.

If you paid money to one of your creditors before you filed bankruptcy, this might have been what is called a “preferential transfer.”  If the payment meets the definition of a preferential transfer that is in the bankruptcy code, the Trustee will try to recover that money from the creditor to benefit the bankruptcy estate.

David Cassidy, famous as the dreamy Keith Partridge in the Partridge Family, has filed chapter 11 bankruptcy in Florida claiming $10 million in debt.  Throughout his career David Cassidy sold over 30 million records but now he says he is broke.  Although he recently won a lawsuit against Sony regarding profits from the Partridge family, it was not enough to get him out of debt.

Tax season is upon us and if you are in a current Chapter 13, this is a great question!  The lure of a large tax refund is very tempting to file electronically but if you owe any governmental agency to include taxes, student loans or child support arrears, you should file your tax return via snail mail.  With your return, you should include a copy of your bankruptcy notice along with a copy of your