Duncan Law Blog

Bankruptcy Insights & Resources

Practical guidance on Chapter 7, Chapter 13, foreclosure defense, and debt relief for North Carolina families.

Chapter 13 Bankruptcy

Why Would the Trustee Increase My Chapter 13 Payments?

Your payments are usually increased when you have failed to make payments to the Trustee, the mortgage company increases your house payments due to a change in your interest rate or escrow and/or you have additional claims filed in your bankruptcy. Additional claims may be for taxes you have failed to pay to the city, county, state or Internal Revenue Service after filing your bankruptcy.

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Chapter 7 Bankruptcy

What is the General Timeline for a Chapter 7 Bankruptcy?

This is a general and approximate timeline. Each and every case will be different depending upon your individual situation. Some cases may take less time and others may take more time. To get a more definitive timeline, review the contract you sign with an attorney at Duncan Law at the time of your free initial consultation.

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Bankruptcy Basics

Should I Get a Credit Report Before I File Bankruptcy?

We strongly recommend you obtain a credit report to supplement what you already know about your creditors. It is easy to forget about a creditor you owed several years ago that is no longer sending bills to you. And from time to time, a creditor will erroneously apply a charge to your credit that you did not incur. This may happen if the person that made the charge has a similar name or even similar social security number. We have also seen clients be the victim of identity theft. It is extremely important to list all your debts, excluding your ongoing utility bills, on your bankruptcy. Recent laws entitle you to a free credit report annually. This site is listed on the Internal Revenue Service website and will not charge you a fee unless you have received a credit report from this site in the past year.

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Bankruptcy Basics

What is a Dismissal in Bankruptcy?

The court may dismiss your Chapter 13 bankruptcy if you fail to make payments to the Trustee or if your debts exceed your ability to pay. If your bankruptcy is dismissed by the court you will be responsible for all your debts and the creditors may proceed with collection actions against you as well as proceed with foreclosure and/or repossession.

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Bankruptcy Basics

Can I Protect My Retirement Plan?

Most personal property such as cash, bank accounts, furniture, clothes, and retirement plans can be protected by exemptions allowed by each state. Most people that file bankruptcy are allowed to keep most, if not all, of their personal property.

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Credit & Debt

Can I Go to Jail If I Do Not Pay My Debts?

These are common questions that many people have about bankruptcy. In an effort to provide you with information we have provided these frequent questions. However, it is important to realize that each state has different rules and these answers are not meant to be legal advice. Contact a bankruptcy attorney to learn more.

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Bankruptcy Basics

Can I Keep My Credit Cards After Bankruptcy?

These are common questions that many people have about bankruptcy. In an effort to provide you with information we have provided these frequent questions. However, it is important to realize that each state has different rules and these answers are not meant to be legal advice. Contact a bankruptcy attorney to learn more.

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