Finding a mistake on your credit report can feel stressful and unfair. Maybe a debt is listed that you already paid. Maybe a debt shows up that was never yours. Or maybe a bankruptcy you completed is still showing as owed. These errors can hurt your credit score, raise your interest rates, and even get … Read more
If you own a home and you are paying for it through a Chapter 13 bankruptcy plan, you may be worried about your taxes. You might wonder if filing takes away your home mortgage deduction. This is a fair question. Many people count on that deduction to lower their tax bill each year. The good … 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
The task of fighting for, being approved and actually receiving your workers’ compensation settlement is daunting enough, but what are you to do when you file taxes? Do you pay taxes on the settlements? Should you be setting money aside to cover that?
Circling a Date on CalendarThe answer to your question is no. Workers’ compensation settlements are fully tax-exempt if paid under the Workers’ Compensation Act; according to Publication 907, “Workers’ Compensation for an occupational sickness or injury if paid under a Workers’ Compensation act or similar law” is exempt.
Losing Your Job Is Stressful. Unemployment Benefits Can Help. Losing a job can shake your whole world. The bills do not stop coming just because your paycheck did. If you were laid off or let go through no fault of your own, you may qualify for unemployment benefits in North Carolina. These benefits can give … Read more
Desperate times require desperate measures or so the saying goes. If you are struggling to pay your debts, primarily the result of the minimum payments on credit cards, medical bills, personal loans, taxes, student loans, etc., should you consider refinancing your home to pay off the debt? There are several factors to consider. First, you … Read more
When you file bankruptcy, tax returns are a required part of the process. You will typically need to provide recent federal and state tax returns to your attorney for preparation of your bankruptcy schedules, and the trustee will often request copies at or before your 341 creditors meeting. If you cannot locate your NC state … Read more
Food stamps are a wonderful benefit for those who qualify. If there are times when you are finding yourself in the predicament of deciding whether to pay the energy bill or buy groceries for the week, you should take the time to research the eligibility requirements for food stamps. If you are in North Carolina, … Read more
Often, when a person files bankruptcy, they are in one of four situations regarding a vehicle: They are behind on their payments and must surrender the car (this usually happens in a Chapter 7 bankruptcy). They drive an older vehicle that is paid off. They are borrowing a friend or family member’s vehicle. They are … 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.
