Many bankruptcy clients wait until they get served by the sheriff with a collections lawsuit before seeking help with their financial problems. Better results can be achieved by acting earlier, but all is not lost merely because a lawsuit has been initiated. My first reaction when fielding such a desperate call is, “Do not panic,…
As a bankrutpcy attorney in Asheville, I speak with people all the time who believe filing a bankrutpcy case means they will not have credit for 7-10 years. Not true. A Chapter 7 or Chapter 13 case will hurt a client’s credit score intially. However, filing for bankruptcy will also have a the positive credit…
As a bankruptcy attorney in Asheville, NC, I frequently speak with people having difficulty with their student loan debt. These folks are sharp enough to figure out that student loan debt is generally not dischargeable in a Chapter 7 or Chapter 13 bankruptcy case. Even so, I strongly recommend folks having trouble paying their bills…
One of the reasons I became a bankruptcy attorney is that debt buyers use collection companies to intimidate, harass, and threaten people for profit. Strikedebt.org has a new campaign called Rolling Jubilee which uses donations to eliminate debt for Americans who need help. This video explains the Rolling Jubilee campaign. Not lucky enough to be…
Yes, as an Asheville bankruptcy lawyer, I file individual Chapter 7 and Chapter 13 cases. An individual filing will not affect the non-filing spouse’s credit rating or appear on their credit report. Married couples are also allowed to file ‘jointly,’ where both spouses open a bankruptcy case together. The critical factor to keep in mind…
Everybody knows that they can discharge debts in a bankruptcy case. What fewer people know is that a Chapter 7 or Chapter 13 case also has the positive effect of protecting essential assets. A bankruptcy case, however, cannot protect what you have given away, sold, or used up. If you are one of those potential…
When filing a Chapter 7 bankruptcy case in Western North Carolina, clients have a right to “reaffirm” their car loan debt. By doing so, they can keep their car while maintaining the same payments as if they had never filed a case. I frequently advise clients to consider not signing a reaffirmation agreement. Particularly when…
Under bankruptcy statute 11 USC 1326(a), the first Chapter 13 plan payment is due within 30 days of filing a case. By timing when you file a case properly, we can sometimes avoid making a month of mortgage payments or car payments in order to improve your household’s cash flow. In short, by skipping a…
Most of the time, exemptions allow you to protect all of your assets. Bankruptcy exemptions enable a client to protect property they own while exercising their right to debt relief in a Chapter 7 or Chapter 13 case. In Chapter 7, over 95 percent of filers use exemptions to keep/protect everything they own. In Chapter…
As an Asheville bankruptcy lawyer, I frequently speak to clients who feel terrible about their financial situation. They want to pay back all their debts in full but are just not able to do so with their current income/debts. The last thing they want to do is file a bankruptcy case. My job is to…