Practical guidance on Chapter 7, Chapter 13, foreclosure defense, and debt relief for North Carolina families.
If you are an employee that has been injured and filed a North Carolina workers’ compensation claim, you may be entitled to permanent partial disability benefits which is also called “PPD.” Since workers’ compensation is administered by each state, the amount of compensation for permanent partial disability and how it is administered may vary. In … Read more
Filing for bankruptcy is already stressful. Then tax season rolls around, and you learn you owe money to the IRS or the State of North Carolina. If you are in the middle of a Chapter 13 bankruptcy, this can feel scary. You may worry that owing new taxes will ruin your case or get it … Read more
Rental properties can be a great source of income until a renter moves without notice or fails to pay or that rental income starts to be used for your personal household expenses. As situations arise, many people are finding it necessary to file bankruptcy and surrender a rental property or properties they own. When you … Read more
The Internal Revenue Service (IRS) uses a basic logic that if you have any signing authority over the business bank account, then you can be held personally responsible for certain taxes owed by that business. So, yes, if you own a business or part of a business, be prepared to pay certain accrued taxes. This … Read more
In North Carolina, if a party to a workers’ compensation case, such as an injured worker or an employer/insurance company, has requested a hearing in front of the North Carolina Industrial Commission by filing a Form 33, a mediation is required by state law. However, if an agreement or settlement is reached by all parties before the mediation, the mediation is not necessary. Sometimes, the parties agree to an informal mediation between themselves.
The purpose of the mediation is for the parties to come together, with the assistance of an approved mediator, and try to settle the matter without the cost and expense of a formal hearing in front of a deputy commissioner, who is similar to a judge.
If your phone rings all day from debt collectors, you are not alone. Many people who fall behind on bills feel scared and worn down by constant calls. Some collectors push too hard. They call again and again. A few even break the law to scare you into paying. We once had a client who … Read more
Generally, 403(b) retirement plans are available to employees of educational institutions and certain non-profit organizations as determined by section 501(c)(3) of the Internal Revenue Code. The most common participants of the plan include teachers, school administrators, school personnel, nurses, doctors, professors, researchers, librarians, and ministers. When it comes to protection of retirement accounts, one of … Read more
Yes, in some cases, you can lower your mortgage on a non-residential piece of property. In a Chapter 13 bankruptcy, clients can attempt to do what is known as a “cramdown” to lower their mortgage. A “cramdown” lowers the principal amount you owe on the mortgage, and then the bankruptcy court determines the interest rate … Read more
Desperate times require desperate measures or so the saying goes. If you are struggling to pay your debts, primarily the result of the minimum payments on credit cards, medical bills, personal loans, taxes, student loans, etc., should you consider refinancing your home to pay off the debt? There are several factors to consider. First, you … Read more
This is an excellent question. For the most part, our bankruptcy clients who have businesses fall into two categories. The first category consists of those who feel as though they and their business are “one” entity. The second category consists of those who feel as though their business is a completely separate entity. Often, when … Read more
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