Practical guidance on Chapter 7, Chapter 13, foreclosure defense, and debt relief for North Carolina families.
http://www.youtube.com/watch?v=zCUagYJnLOw Yes. There is no law that prohibits a debtor from opening a bank account after filing bankruptcy. However, if you owed money to a bank (i.e. for a credit card, loan, overdraft fees, etc.) and they were included in your bankruptcy, chances are you might have a difficult time opening an account with … Read more
http://www.youtube.com/watch?v=dQ6Uwjk2cAs Many people assume that because they have had poor credit and needed to file bankruptcy to get their fresh financial start that their ruined credit will prevent them from financing and purchasing a home. That is not necessarily the case but certain factors will affect the ease and timing of a new home … Read more
Step #1: Determine Your Average Monthly Income Step #2: Know Your Expenses Step #3: Create a Balanced Budget Step #4: Review Your Budget Regularly Step #5: Use a Technology to Help You Step #5: Use Technology to Help You By this time you’ve completed the “meat and potatoes” steps (Steps 1 through 3) that allow … Read more
Step #1: Determine Your Average Monthly Income Step #2: Know Your Expenses Step #3: Create a Balanced Budget Step #4: Review Your Budget Regularly Step #5: Use a Technology to Help You Step #4: Review Your Budget Regularly The first three steps in this series are really the “meat and potatoes” of creating a budget … Read more
Step #3: Create a Balanced Budget So far we have discussed the importance of getting accurate information for determining your income by reviewing at least the last several months of paystubs and we have discussed the incredibly important task of getting a “financially honest” expense report. The next step in putting together a successful budget after filing … Read more
In our last blog post we talked about the first step of budgeting after filing for bankruptcy, which was knowing your income. I mentioned in that post that I believed determining your income was the easiest of the five steps in building your budget. Unfortunately, I think the second step, knowing your expenses, is the … Read more
As a bankruptcy law firm we have filed thousands of bankruptcies for people all across North Carolina. During our years of experience we have seen almost every scenario you can imagine that would lead to someone having to file bankruptcy – whether it is a sudden illness with unexpected medial expenses, loss of a job, … Read more
In the state of North Carolina, there are certain debts which can result in your paycheck being garnished. According to North Carolina law, your employer may be ordered through the court system to garnish/withhold/deduct wages from your paycheck and pay your wages to a Creditor for the following types of debts: taxes, student loans, child … Read more
The Short Answer Yes, you can technically pay back family or friends before you file bankruptcy. But it is usually a bad idea. The bankruptcy court treats loans from family and friends differently than loans from a bank or credit card company. If you pay one of them back right before filing, the trustee may … Read more
Yes! You can still file for bankruptcy even if you are behind on alimony or child support. However, be aware that child support and alimony payments are non-dischargeable in a bankruptcy. In other words, these debts cannot be wiped out in bankruptcy. If you are paying child support or alimony, you may get behind on … Read more
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