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
In North Carolina, when you attend your creditors’ meeting you will see a number of different types of “court” officials. The creditors’ meeting isn’t really a court hearing but it is somewhat similar to court. The main types of representatives at the creditors meeting are the Debtor and Debtor’s attorney, any potential creditors, the Trustee … 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
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
http://www.youtube.com/watch?v=ojPeGXLNwYY There isn’t really a straight answer to that question. Generally speaking, yes, payday loans can be wiped out by filing bankruptcy. A payday loan will be viewed very similarly to credit card debt. Therefore, it can be wiped out through a Chapter 7 bankruptcy or mostly wiped out in a Chapter 13 bankruptcy. The … Read more
http://www.youtube.com/watch?v=0JKDwQe-6oU . In terms of a Chapter 7 bankruptcy you cannot have too much debt to qualify. There is no minimum debt amount to be eligible to file for a Chapter 7. However, since a person can only file a Chapter 7 bankruptcy once every 8 years, it is important to determine that the time … Read more
http://www.youtube.com/watch?v=oFje0NYRV7w . Understandably, this is one of the most common questions we get and it’s a good one! With the economy being in such a downturn, this is often one of the first questions asked, and for many, it’s the most important. “If I can’t pay my bills, how can I afford to pay you?” … Read more
http://www.youtube.com/watch?v=x5ZXRGROQd0 Depending on which bankruptcy you file, bankruptcy may lower your monthly payments for a car but will not lower your payments for a house. A Chapter 7 bankruptcy will not lower your monthly payments but you will be wiping out all of your other debts and will no longer be charged interest and late … Read more
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