Great Financial Health Resource
There is a great website full of information which can help consumers in Western North Carolina. Visit Money Health Central to get answers to your questions and tips for improving your financial situation.
DetailsBankruptcy: Which Creditors Are Calling Me?
Generally, there are two types of creditors you will not hear from if you stop paying on debts. First, the IRS can seize money from your bank account in many situations. The government has rights nobody else does. Second, a bank who you owe money to (an equity line, for example) can seize money from…
DetailsBankruptcy: How much debt is too much?
There are no set minimums for the amount of debt you need in order to file bankruptcy. However, filing a bankruptcy costs money, so it is important to make sure the amount of debt being cleared makes filing cost-effective. In short, you want to make sure that filing a bankruptcy puts you in a better…
DetailsWhat Happens If I Do Not File For Bankruptcy?
Part of my job as a bankruptcy attorney is to explain all options to potential clients. Although I believe bankruptcy is a very positive step for many people, I do not ever want to try and convince a client to file when their heart is not in it. First, that’s bad for my business. Second,…
DetailsWhat To Do When Considering Bankruptcy
I thought I’d share a few “todo”‘s to keep in mind while you’re considering bankruptcy: 1. Keep your retirement account safe. Your retirement account can often be completely exempted from the bankruptcy. Don’t solve a problem today only to have a bigger one years from now. 2. Get your tax returns filed and keep copies.…
DetailsFree, Good Bankruptcy Sites
I thought I’d let you know about a few great websites for getting bankruptcy information. First is the website of the US Courts themselves. http://www.uscourts.gov/bankruptcycourts.html They have some really good overviews about the bankruptcy process. Another reliable site is the ABI Consumer Center, http://consumer.abiworld.org Finally, make sure you check out http://www.bankruptcylawnetwork.com . That blog is…
DetailsBankruptcy Exemptions: What Property Can I Keep?
Homestead (If your spouse also files chapter 7 the amount is double or $70,000 ) In certain circumstances an unmarried debtor who is 65 years of age or older is entitled to retain an aggregate interest in the property not to exceed $65,000. $35,000* Motor vehicle $3,500 Tools of trade $2,000 Household furnishings – household…
DetailsCan I restore my credit after I file for Bankruptcy?
Most people who file for bankruptcy already have poor credit because of debt and late payments. A bankruptcy filing will stay on your credit report for up to 10 years. But, by discharging debt, your credit score can actually improve. Lending institutions know that an individual cannot file for a Chapter 7 bankruptcy for 8…
DetailsCan I Save Money After My Bankruptcy?
Not only can you save money, but saving money and stashing it away for a rainy day is something you should do after your bankruptcy. Filing a bankruptcy by itself is not a solution to financial difficulty, but it can give you another chance at financial health. Sometimes bankruptcy is inevitable because of a huge…
DetailsCan I File Bankruptcy Without An Attorney?
Bankruptcy is complex. It involves both state and federal laws. Even so, some people are inclined to save money on attorney fees and try to do it themselves. It is not impossible, but does require a tremendous amount of homework. The most important thing is make sure you have the time and energy to research…
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