Are you getting collection calls about old student loans? Maybe you stopped paying years ago. Now you are worried the lender will come after you. You may have heard that some debts get too old to collect. So you ask a fair question: do student loans ever expire? This article explains how the statute of … Read more
Cosigning on a debt is almost never recommended. However, it’s a tough decision sometimes when you have friends or family that need you to cosign on a debt to receive the necessary loan. Typically, though, it’s not a good idea to cosign on a debt. Let’s find out why. What is a cosigner? When someone … Read more
In a previous blog post we have discussed how long filing a bankruptcy will impact your credit score. Today we are going to discuss how much filing a bankruptcy will hurt your credit score. The reality is, nobody knows exactly how much a bankruptcy will impact your credit score. There are five different areas that … Read more
If you have decided to surrender your vehicle as part of your bankruptcy, the timing of when you turn the car in matters more than most people realize. Surrendering your car before you file bankruptcy — even with the best intentions — can create credit damage that a properly timed surrender would have avoided. The … Read more
If you are considering getting a clean slate and filing for Chapter 7 bankruptcy or Chapter 13 bankruptcy in North Carolina, you have probably heard that bankruptcy will “ruin your credit for 10 years.” Fortunately, this is not true – as long as you are taking the necessary steps to care for your credit post-bankruptcy. … Read more
In this age of information it can be tough to discern which tasks we are capable of handling ourselves and which tasks we should leave to the professionals. As bankruptcy lawyers we have clients who contact us on a regular basis and ask if they should hire a credit repair company to rebuild their credit. … Read more
If your phone rings all day from debt collectors, you are not alone. Many people who fall behind on bills feel scared and worn down by constant calls. Some collectors push too hard. They call again and again. A few even break the law to scare you into paying. We once had a client who … Read more
If a creditor were to sue you for a debt owed, eventually they may try to obtain a judgment against you. There are two main ways we see clients usually end up getting judgments against them. The first way is by a default judgment. This basically means you never answered the complaint and, therefore, the … Read more
When you obtain a loan, in most cases the lender does not want to just give you the money, they want to make sure that you have some sort of incentive to make sure you make your payments. What better incentive is there than taking away your property if you do not pay? Therefore, creditors … Read more
One of the most frequent calls we get at our office is, “What does it mean when it says, “charge off”? Do I need to list this on my list of creditor’s?” The answer is always “yes”! As you are perfectly aware, once you owe a debt, the creditor will relentlessly try to collect the … Read more
We answer calls 24 hours a day. A free phone consultation takes 20–30 minutes and leaves you with a clear picture of your options — no obligation whatsoever.
