Practical guidance on Chapter 7, Chapter 13, foreclosure defense, and debt relief for North Carolina families.
When you obtain a loan, in most cases the lender does not want to just give you the money, they want to make sure that you have some sort of incentive to make sure you make your payments. What better incentive is there than taking away your property if you do not pay? Therefore, creditors … Read more
One of the most frequent calls we get at our office is, “What does it mean when it says, “charge off”? Do I need to list this on my list of creditor’s?” The answer is always “yes”! As you are perfectly aware, once you owe a debt, the creditor will relentlessly try to collect the … Read more
Due to the recession our economy has faced, many small business owners find themselves sitting in our office discussing the possibility of filing for bankruptcy. Legitimately, one of their main questions is how to protect their assets. One of the major assets of most small business owners is their “tools”. Tools can range from hand … Read more
Many people have been led to believe that a homeowners’ association cannot foreclose on their home. That is not true! Homeowners’ associations foreclose on property everyday across America and very likely everyday in North Carolina. If your neighborhood has a homeowners’ association, you received and signed documents acknowledging the association’s rights when you purchased your … Read more
Have you ever had those times when you were running short of cash? There was that unexpected car repair or the kids’ summer camp deposit you didn’t have in the budget. You knew something had to give that month but you weren’t sure what! When you considered the options of what you could do without … Read more
When the original creditor goes unpaid for a significant amount of time, the debt goes into what is called “collections.” Many of us have heard of these agencies but are somewhat confused as to what exactly constitutes a collection agency. A collection agency is an outside organization helping original creditors to collect on unpaid debts. … Read more
There is a saying that always helps me remember the difference between gross and net income: it’s gross to see how much you would be bringing home before taxes. Gross income is what you make before taxes and what you claim as income on your tax returns. Net income is what you actual bring home … Read more
When you are filling out your paperwork, you will notice you will be asked to list down all of your personal property. This personal property will contain all assets you may have; including homes, cars, cash, financial accounts, furniture, clothing, jewelry and more. Determining the value of each is different. Most cases, you will use … Read more
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