One dilemma that Christians face as they contemplate how to handle their financial difficulties is: “What does the Bible say about finances and debt?” This can be a difficult question to find accurate answers to. Although Bible verses can be interpreted in many ways, we will review Bible verses that discuss this topic to allow … Read more
There is no definitive answer as to how long you can stay in a house that you are surrendering or giving up in the bankruptcy. We tell our clients they will have, at minimum, 30 days they can stay in the home after filing bankruptcy. However, normally someone who has surrendered their property in bankruptcy … Read more
A dependent is an individual who requires and is actually receiving financial support from the debtor on a regular basis. This is usually children, grandchildren or an elderly family member. Generally, if you provide more than half of that person?s support, that person is considered your dependent. When it comes to bankruptcy, the rules relating … Read more
In your bankruptcy, you can choose to “give up” or surrender your secured property such as a house or a car to eliminate the debt. It would be lovely in the world of bankruptcy if you could just eliminate the debt and keep the property, but if that were the case, everyone would file bankruptcy! … 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
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