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The Jefferson County commissioner has announced that the county has an 80 percent chance of filing for bankruptcy.

The commissioner made this announcement after a day full of meetings with bankruptcy lawyers. She is now the first democrat that supports the plan for the county to file for bankruptcy. This option is looking like more and more of a possibility if a settlement is not reached with creditors.

Creditors have yet to respond to a settlement that was submitted last week that will increase sewer costs in order to erase $1.3 billion of a $3.14 billion sewer debt that has been around since 2008. A discussion with creditors was hoped to be reached by this week, but it has not occurred at this time.

If you or a loved one has been considering bankruptcy, you need experienced representation on your side. Contact the bankruptcy lawyers in Birmingham of Greenway Law, LLC, by calling 205-324-4000 today.

Tags: Bankruptcy, Jefferson County

Q: My daughter and her ex-boyfriend got a loan, it was supposed to be used for her college but instead it was used for things he needed to fix up his home. They were going to get married, but as soon as the money was spent, he kicked her out. She got the loan and he co-signed for it. Then he got another girlfriend and he said he wasn’t paying another dime.

She is struggling to pay for it and he is going on with his life. What can she do to make him pay his share? What is his obligation? Would it be in her best interest to let it go delinquent because her credit is already ruined because of this loan?

He changed his phone numbers so they can’t call him; they call her or her parents all the time.

FREE TOOL: CHECK YOUR CREDIT Credit.com’s Credit Report Card Check your credit bureau profile for free with this great tool. See y Read full article…

CoreLogic’s CoreScore Report supplements credit data

In early October, CoreLogic, a leading provider of credit information, announced they have a report that assesses credit risk and could be used as a a supplement to the traditional credit report.  It is called the CoreScore Credit Report and ispliant with the Fair Credit Reporting Act (FCRA). It merges CoreScore consumer information and credit report data into one report. It

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Tags: Credit, Credit Reports

Yesterday, Jefferson County officials delayed their potential chapter 9 bankruptcy filing for the second time in two weeks.  Authorities now say they will have an agreement on entering into bankruptcy protection ready by next Friday, August 12.

Governor Bentley has been working with county officials to decide how to resolve Jefferson’s $3.14 billion in debt.  One of the major issues being discussed is the county’s sewer rates.  Over the past 10 years, Jefferson’s sewer rates have increased by 329 percent.

The county’s financial problems began several years ago when a federal court ordered it to rebuild their failed sewer system.  Bonds were issued to the county to finance the project.  These costs were inflated and put the county in $3.2 billion in debt.

If you have questions about filing for bankruptcy in Birmingham, contact the Birmingham bankruptcy lawyers of Greenway Law, LLC at 205-324-4000 to learn more about entering bankruptcy protection.

Tags: Bankruptcy Filing, Filing, Jefferson County

Whether you’re a Facebook user, a privacy wonk, or both, you’re likely aware of the social network’s settlement with the Federal Trade Commission, announced this week.

Under terms of the settlement, Facebook must now get users’ permission before it changes the way their personal information is shared. The social network also agreed to submit to privacy audits every two years for the next 20 years. Read The New York Times’ coverage of the settlement for a more in-depth explanation of the agreement.

The settlement shows why it’s so important for companies to build privacy best practices into their business, preferably before the government orders them to do so. This concept—Privacy by Design—was first developed by Dr. Ann Cavoukian, information and privacy commissioner for Ontario, Canada. If Facebook had adopted these practices years ago, it could have avoided run-ins with U.S. and E.U. regulators.

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Tags: Settlement, Settlement Means