Alabama has different bankruptcy rules than what the Federal Government requires. Will you lose your house if you file for bankruptcy? Is it better to ask a real estate agent to ‘sell my house fast Birmingham,’ before proceeding ahead with a bankruptcy claim? It may help to know the state rules regarding bankruptcy so that you can make informed decisions about your house instead of having to make a split decision to sell my house fast Birmingham.
Some items you own may also be exempt and not included in what you have on hand to pay off a bankruptcy debt. Did you know burial plots, family portraits, clothing, church pews, and books are exempt from the amount you own in debt? Disability up to $250 per month is also not considered. Do you have tools of the trade? You do not have to worry about selling those off to pay your debt.
Should you file for Chapter 13 or Chapter 7 Bankruptcy? It I important Alabamans understand Chapter 13 does not release them from any debts owed. Anyone who files for Chapter 13 Bankruptcy is still liable for the debt. You must form a repayment plan and repay debts within three to five years. If debtors file for Chapter 7 Bankruptcy, they may not have to repay certain debts and can still keep property, such as their car or a house. They may have to make monthly payments to a creditor, even if you say sell my house fast Birmingham.
Should you consider filing for bankruptcy? This is a complicated issue that only an Alabama attorney can assist. No one wants to say ‘Sell my house fast Birmingham,’ if they really do not need to unload their property. Be prepared to pay for an attorney’s services, as filing fees range from $36 to file paperwork, to more than $200 an hour for services. It may be worthwhile if you save your Alabama house from being sold. If you are willing to say ‘sell my house fast Birmingham,’ is the best option, we can help you do just this. Contact http://www.dsprealestate.com/sell-your-home/ when you are ready to sell your house. We can buy your house quickly and we offer cash!