Credit Repair By Better Credit Reports Consulting

 

ALABAMA STATE LAW

Here is a link to the complete text of Alabama Law, the most interesting parts for credit repair are as follow

Exempt from garnishment

– 75% of wages are exempt from garnishment.
– If federal law provides greater exemption amount, it applies.

MAXIMUM INTEREST RATES

– Legal: 6%
– Judgments: 12%

STATUTE OF LIMITATIONS ON DEBT

– Open Account (credit card): 3 years
– Written Contract: 6 years
– Domestic Judgment: 20 years
– Foreign Judgment: 20 years

BAD CHECK FEES

– $10 or actual bank charges, whichever is greater.

tape recording

One party state

BANKRUPTCY PROPERTY EXEMPTIONS

– Cannot use federal exemptions, but can use the federal non–bankruptcy exemptions

Real property:

– Real property up to 160 acres
– Mobile home up to $5,000 (husband and wife may double the amount); must file homestead exemption [6–10–2]
– Personal property: Burial plot, unlimited amount [6–10–5]
– Church pew, unlimited amount [6–10–5]
– Personal property not listed elsewhere (except life insurance) up to $3,000 [6–10–6]
– books and clothing unlimited amount [6–10–6]
– Unlimited amount of family portraits and pictures [6–10–6]
– Uniforms, equipment, arms required for military, unlimited amount[31–2–78]; crops, unlimited amount [6–9–41]

Insurance / Annuities:

– Annuity proceeds to $250 per month [27–14–32]
– Disability proceeds to $250 per month [27–14–31]
– Fraternal society benefits, unlimited amount [27–34–27]
– Proceeds from life insurance if beneficiary is insured's spouse or child, unlimited amount [6–10–8 and 27–14–29]
– Life insurance proceeds if policy prohibits use to pay beneficiary's creditors, unlimited amount [27–15–26]
– Mutual aid association benefits, unlimited amount [27–30–25]

Pensions / Retirement Plans:

– Law enforcement officers, unlimited amount [36–21–77]
– Judges (payments being received) [12–18–10(a–b)
– State employees, unlimited amount [36–27–28]
– Teachers, unlimited amount [16–25–23]

Public Benefits / Entitlements:

– AFDC, aid to blind, aged, disabled families with dependent children, unlimited amount [38–4–8]
– Coal miners' pneumoconiosis benefits, unlimited amount [25–5–179]
– Southeast Asian War POW's benefits, unlimited amount [31–7–2]
– Unemployment compensation, unlimited amount [25–4–140]
– Workers' compensation, unlimited amount [25–5–86(b)]

Wages:

– 75% of earned but unpaid wages (special provisions for low–income workers) [6–10–7]