Practical guidance on Chapter 7, Chapter 13, foreclosure defense, and debt relief for North Carolina families.
It is possible to obtain a loan modification even if you have filed bankruptcy. At this time, most mortgage companies would rather work out a loan modification agreement, if viable, than to foreclose on your home. The last thing most mortgage companies want is another vacant house! Steps to Follow: Step #1: You should contact … Read more
If you are currently suffering from some type of creditor harassment or dispute and you believe that if the matter went in front of a judge that you would win the dispute, writing a cease and desist letter may be a good option for you. A cease and desist letter is a letter that may be written … Read more
To review a possible medical malpractice case or nursing home injury or neglect case at Duncan Law we must have the injured person’s medical records reviewed by an expert witness. These are usually an expert nurse and/or a physician. For a medical expert to give a thorough review of your case it is important they … Read more
Clients have frequently asked us what is the difference between a deed in lieu of foreclosure and a bankruptcy? First, a deed in lieu of foreclosure (DLF) is when the homeowner signs over and transfers the deed to the home to the mortgage company without the legal process of a foreclosure. Most people believe this … Read more
A judgment initiated by your Creditor can be issued by the court of North Carolina when a debt becomes past due. This judgment is enforceable for a period of ten (10) years from the filing date. A judgment may be “renewed” so to speak, by filing a Complaint prior to the expiration of the ten (10) … Read more
Yes, credit cards are the evil culprit for many folks who have had to file bankruptcy, but credit cards are not entirely terrible. Having a credit card helps in many ways to help build your credit, you just need to get the right one that is tailored for you and your needs. For someone who … Read more
There are two financial statements that you must provide for your business when you file personal bankruptcy: the income statement or profit and loss and the balance sheet. We will look at the financial statements for a small plumbing business, ABC Plumbing. We encourage you to click on the blue links to open examples of a profit & loss statement and balance sheet. This is a simplified approach to the financial statements, so you should seek advice from your accountant should you have questions when preparing the financial statements for your business. We will also only be looking at Operating Income and will not consider interest income, interest expense or other non-operating items that most businesses incur.
If you are self-employed or own your own business, you should prepare monthly financial statements to understand how your business is performing. Realistically, financial statements are often the last thing a small business owner worries about. He or she is usually more concerned about how to make the next sale or generate the next contract. … Read more
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