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
The phone rings again. You filed for bankruptcy, and you thought the calls would finally stop. But here is another collector asking when you can pay. If this is happening to you, take a breath. You have rights, and the law is on your side. This article explains why creditors are supposed to stop calling … Read more
When filing bankruptcy you have the option to continue to pay for your car lease payment or you can opt out of your car lease payment. In a bankruptcy you can legally be released from many of your contractual obligations, this includes things like cell phone contracts, apartment leases, and even a car lease. In a … Read more
Are you thinking about filing bankruptcy on your own? You may be asking if you really need a lawyer to do it. Maybe money is tight, and hiring an attorney feels like one more bill you cannot afford right now. That worry makes sense. Below, we will explain the rules in plain English. You will … Read more
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
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
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
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