Practical guidance on Chapter 7, Chapter 13, foreclosure defense, and debt relief for North Carolina families.
One of the things required when filing bankruptcy is a copy of your Social Security card. Many people have it readily available to have a copy of it made, but you may have misplaced it. You can get a new Social Security card issued by going to your nearest Social Security office. Find the office … Read more
If you get food stamps and you are thinking about bankruptcy, you may feel worried. Maybe you fear this help will count against you. Maybe you think it will push your income too high. Or maybe you are scared the court will take your benefits away. Take a deep breath. Food stamps are a normal … Read more
If you and your partner are married under common law, you may be wondering if you can file bankruptcy together here in North Carolina. That is a fair question. The rules about common law marriage can feel confusing, and adding bankruptcy on top of it makes things harder. The good news is that the answer … Read more
If you file bankruptcy, either Chapter 7 bankruptcy or Chapter 13 bankruptcy, you must disclose information about any business interest you have now, or have had in the past six years, where your ownership in the business is 5% or more. This includes disclosing the following information for each business: Name and address of the … Read more
If you own a business or owned a business in the past and had employees, you were most likely required to file IRS Form 941 on a quarterly basis or IRS Form 944 on an annual basis. Form 941 is the quarterly report reflecting the taxes you withheld from your employees’ payroll checks as well … Read more
As many are aware, a Chapter 13 bankruptcy is known as a repayment plan to the court for the next three to five years. Whereas many would think that everyone in the bankruptcy receives an equal chunk of the payment; that is not the case. Previously in a Chapter 13 bankruptcy, you would have made … Read more
Cross collateralization is a clause in a purchase contract that secures a loan which serves as collateral for all other loans made with the borrower in the past, present, and future. This type of loan is usually found at credit unions, but can sometimes be found at your typical banks. Cross collateralization most commonly occurs … Read more
A recent article on CNN Money’s website features the seven best credit cards for individuals with bad credit. While bankruptcy can stay on your credit for 7-10 years from the date that you file, it is important that you begin rebuilding your credit much earlier – in fact, it is best to start doing so … Read more
You may have heard your bankruptcy attorney mention the threat or possibility of an adversary proceeding. Essentially, an adversary proceeding is a lawsuit usually filed within your bankruptcy while your bankruptcy is active. Sometimes, a bankruptcy case can be reopened after it is closed for the purpose of filing an adversary proceeding. While adversary proceedings … Read more
If you filed for bankruptcy and then heard that your case was "dismissed," you are probably worried and confused. You may be asking, "What does this mean for me? Did I lose my protection? Can I fix it?" Take a breath. A dismissed case is not the end of the road for most people. This … Read more
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