If you have bills automatically drafted from your bank account each month, filing bankruptcy creates an immediate and important change — but it does not affect all automatic drafts equally. Whether a specific draft continues depends on the type of debt, how it is treated in your bankruptcy, and whether the creditor is a secured … Read more
Losing a car you can no longer afford is stressful. Maybe you are behind on payments. Maybe you know that next month, or the month after, you simply will not be able to keep up. You may be thinking about handing the car back to the lender yourself instead of waiting for someone to come … Read more
With the decline in the housing market many people find they are “upside down” or “under water” on their home. In other words, do you owe more for the house than what it is worth? If that is your situation and you have two or more mortgages, you may find that Chapter 13 bankruptcy is … Read more
Have you ever had a creditor or debt collector call you at work? After the shock of the call wears off, you wonder “can they do that, is that legal?” The answer of whether it is legal in North Carolina depends on your specific situation. North Carolina General Statutes, Article 2, Section 75-52 outlines what … Read more
If you are filing bankruptcy then a portion of your bankruptcy petition called the Statement of Financial Affairs asks if you have made any transfers. Section 10 of the Statement of Financial Affairs requires you to, “list all other property, other than property transferred in the ordinary course of the business or financial affairs of … Read more
We get this question often! The answer for the most part is quite simple. If you have been sued, unless you have changed your address and have not updated it through the post office, you likely have received notices that were being sued. To understand the process of a lawsuit better, check out the blog … Read more
With limited exceptions, most Americans are required to file tax returns with the Internal Revenue Service, and if you work or live in North Carolina, the North Carolina Department of Revenue. If you do not file and pay your taxes on time each year, you will incur penalties and interest on the amount of money … Read more
If you have filed or will be filing a workers’ compensation or personal injury claim, be sure to tell your bankruptcy attorney so your potential settlement can be listed and protected in the bankruptcy. If it is not listed and protected in your bankruptcy, you could lose the money received in the settlement. If you … Read more
Many debtors get nervous when all these legal terms start to get thrown around. We are going to explain what each of these are so that you will have a better idea of what you may be dealing with. We will focus on the civil side of things and how they relate to bankruptcy filings. … Read more
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