As a bankruptcy attorney in Asheville, close to half of the people I meet for free, initial consultations are judgment proof. This means creditors have virtually no way to collect money or property from them under North Carolina law. You are judgment proof if all of the property you own fits within the North Carolina…
As a bankruptcy attorney in Asheville NC, a big part of my job is to help clients achieve the best financial outcome possible after they have decided to file a case. Filing for bankruptcy is a tough decision which should only be made after a clear plan for recovery has been established. It may be…
Yes, the requirement is that you continue to make your monthly payments on time. In North Carolina, you would need to protect the equity, or the value of home minus the balance of any mortgages. There is an exemption limit of $35,000 per spouse ($70,000 for joint filers). So, if you own a house worth…
As an Asheville bankruptcy lawyer, I speak with people every day who are trying to find creative ways to make ends meet. A common strategy, when folks suffer financial strain, is to borrow money from a loved one. Before paying back friends or family, consider the effects it may have on your bankruptcy case. What…
As an Asheville bankruptcy attorney, I hear a lot of misguided ideas potential clients have heard from friends or debt consolidation salesmen. If you are under financial strain, it is important to separate fact from fiction before making a decision about your next steps. Here is a list of common bankruptcy myths which paralyze people,…
As a bankruptcy attorney in Asheville NC, I counsel people who have tried to stop automatic bank drafts to a specific creditor but end up with more overdraft fees from their own banks instead. Last week, I met with someone who was charged over $300 because a draft they had already called their bank to…
As an Asheville bankruptcy attorney, Spring is my busiest time of year. Tax refunds are a reason bankruptcy filings go up. Why spend refund money on credit card minimums when you can wipe out your debt by filing a Chapter 7 case? With careful planning, you can file for bankruptcy and keep your tax refund.…
Yes. As an attorney practicing bankruptcy law in Asheville, NC, I counsel people all the time who are concerned about how friends and neighbors will react to a bankruptcy filing. First of all, in the majority of cases, the only folks who find out about a case are your creditors, the trustee, your attorney, and…
As a bankruptcy lawyer in Asheville, I spend time each day explaining how credit card companies treat their customers poorly. One way, in my view, is through universal default. Universal default is a concept common in the credit card industry where the creditor can raise your interest rate even if you have always paid their…
As an Asheville bankruptcy lawyer, I help people protect various assets. This is called exempt property. In over 90 percent of the Chapter 7 bankruptcy cases I file, all of the property my clients own fits within the North Carolina or Federal Bankruptcy exemptions. They get to keep all their property. One type of asset…