the Bond Botes Law Offices's blog

Recently it was reported that Americans added over a trillion dollars in debt during 2021. To put that into perspective that is a little more than $2,750 for every person in the country. This is the largest amount recorded in 14 years.

It comes up every tax season. You’re looking forward to receiving a big tax refund check, and you’re also working hard to get your bankruptcy case filed. So, what happens to your tax refund in a bankruptcy case?

It is no secret that going to college will cost money. Along with tuition, currently $545 per credit hour for in-state students at the University of Alabama, there are many more costs to consider when going to college; housing, food, travel, books, fees, and all these before one football game or social event.

It is a cold fact that everything is getting more expensive. Inflation is cruel, making the cost of what you need today like gas, food, clothes, and just about everything more expensive. For many that have incurred debt like mortgages, car loans, credit cards, and medical debt, inflation will surely require hard choices.

A common question asked by our clients who are contemplating filing bankruptcy is whether or not doing so will affect their employment. According to 11 U.S. Code § 525, neither a government or private employer “may terminate the employment of, or discriminate with respect to employment against ...

Debt settlement typically involves contracting with a debt settlement company to handle the negotiations for you. For a fee, the company will negotiate with your creditor to accept a reduced lump-sum payment of what you owe them, mostly on unsecured debt like credit cards.

If you were treated for Covid-19, and the medical bills have started rolling in it’s especially important to be aware of your rights and how to best handle bills that you can’t pay immediately. If you were diagnosed with and treated for Covid-19, make sure you understand how the specific laws enacted could help.

It’s never fun to consider declaring bankruptcy. But, believe it or not, bankruptcy can be a smart financial decision in certain situations. Bankruptcy is designed to give people a fresh start when they need one. And if you file for bankruptcy, you’re taking a big step towards getting your finances under control. That’s always a responsible goal.

When Covid-19 hit the economy, most debt collectors gave borrowers a break, cutting back on lawsuits amid lockdowns, closed courts, and loan-forbearance initiatives. For some, this has given a little breathing room to get themselves on top of their finances and in a better position when we come out of the pandemic.

A forbearance is a workout option available to homeowners having a financial hardship. As the coronavirus pandemic drags on and strains Americans’ finances, 3.4 million homeowners were in forbearance in September of 2020. The typical terms of a mortgage forbearance are payments can be “skipped” for 90, 180, up to 360 days for those that are affected by COVID-19.