As an Asheville bankruptcy attorney, I meet almost every day with someone who is behind on real estate mortgage payments. Depending on your goals, various options exist via Chapter 7 and Chapter 13 bankruptcy cases. If you want to keep the property: Chapter 13 is a type of bankruptcy designed to help you “catch-up” on…
As a bankruptcy attorney in Ashevlle, NC, I frequently speak with people who are making big changes in their lives. Many times, folks have found a new person they want to begin sharing their lives with. Other times, people are ready to move on from a bad situation. Former debts can make these transitions more…
As a bankruptcy attorney in Asheville, I frequently speak with clients frustrated by their conversations with collection callers. If you search on Google, you’ll see lots of advice about contacting creditors when you fall behind on payments. In my experience, talking with collection callers can help when you plan on resuming regular payments (and catch…
As an Asheville bankruptcy attorney, I frequently get calls from people living around the country who own real estate in our mountains. Other times, people living here wonder if they need to file a bankruptcy case back where their old home is being foreclosed on, or where they owe other debts. In 2005, Congress established…
Frequently, when a person needs bankruptcy relief, the creditor calls or just managing daily finances can be overwhelming. Choosing a bankruptcy attorney can be too if you don’t know who to call. There are several great bankruptcy attorneys near Asheville, NC. In my view, asking the following questions can help determine if a specific attorney…
As a bankruptcy attorney in Asheville, one of my primary goals is to establish and protect retirement funds for my clients. Very few people can work until the day they die. Protecting client accounts and contributing to retirement accounts (instead of paying credit card minimums) after a bankruptcy filing are almost always a part of…
North Carolina laws allow a person to protect certain property from creditors. Generally speaking, exemptions in bankruptcy define what property a person gets to keep in a Chapter 7 bankruptcy case. In a Chapter 13, exemptions are important as well because they help determine how much money needs to be paid to unsecured creditors. Currently,…
As a lawyer filing bankruptcy cases around Asheville, I frequently advise folks who qualify for relief against filing a case. Although achieving a discharge would be a relatively simple process for them, if they cannot make ends meet after their bankruptcy case ends, the relief will be short-lived. News arrived yesterday that 500 new jobs…
There are a variety of reasons, but if you have an adjustable rate mortgage, read this story about Barclays Bank increasing your mortgage payment by criminally manipulating the LIBOR rate. They settled for $450 million dollars, and their chairman resigned (because they got caught). The LIBOR rate is used frequently to gauge when mortgage interest…
A very common question I discuss at initial bankruptcy consultations at my Asheville office is whether the IRS will treat discharged debts as income. Simple answer: No. Allow me to explain why. When someone negotiates a settlement with a credit card company, the forgiven portion of the debt is treated as income by the IRS. …