Practical guidance on Chapter 7, Chapter 13, foreclosure defense, and debt relief for North Carolina families.
If you are thinking about filing bankruptcy, you may be worried about your bank accounts. You might wonder if the bank will freeze your money, close your account, or take your funds. These are normal fears. The good news is that for most people, your bank accounts are safe in bankruptcy. But there are a … Read more
This is a common asked question, and a great one! With the downturn of the housing market, many people understandably want to know if they have the right to sell their property when they are in a bankruptcy. While in a Chapter 13 bankruptcy, you can indeed sell your home while you are in an … Read more
Once you decide to file Bankruptcy, whether it is a Chapter 7 bankruptcy or Chapter 13 bankruptcy, you will need to decide if you intend on keeping your home. If you qualify for a Chapter 7 bankruptcy filing and you wish to keep your home, you will need to be current with your mortgage payment(s) … Read more
Almost all Chapter 13 bankruptcy cases are set for a period of anywhere from 36 to 60 months. As you can imagine, a lot change in a person’s life during a three to five-year time frame, particularly in a somewhat unstable job market. Although a person may have a well-paying, stable job at the time … Read more
Yes, most of the time. The federal bankruptcy laws allow you to protect certain property by using state exemptions to protect the automobiles. However, you can only protect up to a certain amount of equity in a vehicle. For example, North Carolina allows you up to $3500 in a motor vehicle exemption to protect one … Read more
If you have a bankruptcy case in North Carolina, you may have heard the term "Bankruptcy Administrator" and felt confused. You might wonder who this person is, what they do, and whether they are there to help you or work against you. The good news is that the Bankruptcy Administrator is not your enemy. Their … Read more
A lot of people are concerned with who will find out about their bankruptcy if they choose to file bankruptcy. That is a legitimate and understandable concern. Once a bankruptcy petition has been filed with the court it becomes public record. If a person is determined enough, the information can be obtained. However, to find out … Read more
If you are worried about losing your home, you are not alone. This is one of the first questions people ask when they think about bankruptcy. The good news is that many people who file bankruptcy in North Carolina get to keep their house. This article explains how that works, what can put your home … Read more
This is a question we are asked all the time. Each bankruptcy attorney probably has his or her own opinion on which type of bankruptcy is best for your credit report. After filing thousands of bankruptcies over the years, we don’t believe that there is that much, if any, of a difference between a Chapter … Read more
Times are tough right now and sometimes we would like to pay our debts but just simply can’t. While it would be nice to call the creditor and explain your situation, the fact of the matter is, they are still going to expect the money that you owe them. Unfortunately, creditors aren’t always willing to … Read more
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