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What Happens if I Fall Behind on My Mortgage Payment If I’m in Chapter 13 Bankruptcy in Alabama?

When you file Ch. 13 there is a provision in the law called the Automatic Stay. The Automatic Stay is like a blanket that covers you when you file, preventing your creditors from taking “any action to collect a debt” from the date that you filed forward without permission from the Court. That Automatic Stay provision is what stopped the foreclosure when you filed.

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Why Are My Ex Husband’s Debts are Ruining My Credit in Alabama?

The general rule is that if you are a co-debtor or co-signor (joint obligor) on a loan you are as responsible for the debt as the person whose name appears on the first line of the paperwork (primary obligor). Although the lender will generally expect the primary obligor to make the payments, they can come after the joint obligor any time the payment is late or the loan goes into default. Default simply means that payments are past any grace period. Most loans can be considered “in default” if the payment is a day late.

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Are Non-Compete Agreements Enforceable in Alabama?

Even though Alabama law says that “contracts restraining business” such as non-compete agreements are void, there are so many exceptions to that law that non-competes are usually valid as long as they are reasonable, even if you’re laid off or fired. The law says an “employee may agree with his employer to refrain from carrying on or engaging in a similar business and from soliciting old customers…” which is the exception that most sales employees fall under.

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How Long After a Foreclosure do I Have to Move Out of my Home in Alabama?

In Alabama you have ten days after the foreclosure to move out in order to preserve your legal rights. If you move out within that ten day period Alabama law gives you the right to buy back the house for the amount that you owed at the time of the foreclosure. This is called a right of redemption.

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