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A chapter 7 bankruptcy case does not involve the filing of a plan of repayment as in chapter 13. Instead, the bankruptcy trustee gathers and sells the debtor's nonexempt assets and uses the proceeds of such assets to pay holders of claims (creditors) in ance with the provisions of the Bankruptcy Code.

You usually must have less monthly income than most Alabamians. If you have more income than most Alabamians, and you can afford to pay $100 per month toward debt, you must use Chapter 13 instead. The court looks at your monthly income, expenses, and your total debt to decide whether you can file Chapter 7.

A chapter 13 bankruptcy is also called a ?wage earner's plan? and allows the debtor to keep property and pay all or part of his debts over time, usually three to five years. An individual who is self-employed or operating an unincorporated business is also eligible for chapter 13.

Alabama Chapter 7 Bankruptcy Income Limit # of PeopleAnnual Income1$56,5982$67,9533$77,4194$94,6595 more rows

There is no motor vehicle exemption in Alabama. This does not necessarily mean that you have to give up your car if you choose to file bankruptcy. If your car has equity, you can look into using the wildcard exemption. The wildcard exemption can be used to protect any personal property.

Our Huntsville and Decatur, Alabama bankruptcy attorneys fees are set at $1,000.00 plus court filing fees and costs(credit counseling) for a Chapter 7 bankruptcy. One of the lowest fees in Alabama. The filing fee for a Chapter 7 bankruptcy case is $338, and the credit counseling fee is $40.