Practical guidance on Chapter 7, Chapter 13, foreclosure defense, and debt relief for North Carolina families.
There is no doubt about it, bankruptcy will (at least for the short term) have an effect on your everyday life where finances are concerned – from your living situation, the way your bills are paid, how you can get credit and so on and so forth; but does it also effect being able to … Read more
In a North Carolina workers’ compensation case a “clincher agreement” is a compromised agreement or settlement between an injured employee or worker and an employer or their insurance company. When the worker and the employer’s insurance company agree on a settled amount the insurance company’s attorney will draft a clincher, or agreement, stating that the parties have reached a final resolution of the case.
Writing on White Paper with PenThe clincher agreement usually states the employee will receive a lump sum cash settlement in return for releasing all future liability against an employer. In order for a clincher to be allowed, it must be approved by the North Carolina Industrial Commission. A clincher must meet the requirements of Rule 502 of the North Carolina Industrial Commission and, if it does, the Industrial Commission will typically approve the clincher agreement. The main purpose of this approval by the Commission to make sure the employee is treated fairly.
There are two types of financial medical payment assistance provided by the federal and state governments. One is Medicare, which was enacted in 1965. Medicare is a federal agency that pays medical care for elderly (usually over the age of 65), the disabled and other limited classes of medical recipients. In contrast, Medicaid is usually a … Read more
The short answer is, yes, a Small Business Administration (SBA) loan is considered a dischargeable debt. New entrepreneurs or small business owners who are looking to revamp their business sometimes need an additional guarantor on a loan, due to certain factors, such as not having enough collateral. A guarantor takes responsibility for the debt and … Read more
For many, filing bankruptcy can be a very stressful, emotional and embarrassing time in your life. Ask any bankruptcy attorney, and they will tell you this is a question they are asked quite often. Most people would prefer to not tell the world of their financial problems and keep the information in their bankruptcy private. … Read more
If you are thinking about filing bankruptcy, you have probably heard about the "means test." And if you have started looking at it, you may feel confused or even a little angry. Here is what bothers most people. The means test starts with your gross income, not your take-home pay. That can feel unfair. After … Read more
A car accident is stressful for anyone. But if your vehicle gets wrecked while you are in the middle of a bankruptcy, you may feel even more worried. What happens to your case? Can you get a new car? Who gets the insurance money? Take a deep breath. This situation comes up more often than … Read more
While in a Chapter 13 bankruptcy, you must get permission from the bankruptcy Trustee to incur any new debt. This includes a mortgage if you want to purchase a new house. When you are serious about buying a new home within a Chapter 13 bankruptcy, you should let your bankruptcy lawyer know. They will get in contact with the Trustee for you and let him or her know that you would like permission to incur debt. They will file a motion with the court for this. Once the trustee makes a decision, the attorney will let you know.
You might be wondering exactly what “statute of limitations” means. The statute of limitations is the time period a creditor can still sue you for debts. Creditors only have a certain duration of time they can attempt to collect a debt by suing you. If the creditor fails to successfully collect the debt or file a lawsuit before expiration of the statute of limitations, then the debt is no longer applicable for collection by a lawsuit against you.
Losing someone you love is hard. Worrying about their bankruptcy case on top of that grief can feel like too much. Maybe you are sick, getting older, or just planning ahead. You might wonder what would happen to your case if you passed away before it ended. This is a fair question. The good news … Read more
We answer calls 24 hours a day. A free phone consultation takes 20–30 minutes and leaves you with a clear picture of your options — no obligation whatsoever.
