Many potential clients schedule initial consultations after receiving a summons delivered by the sheriff’s office. As an Asheville bankruptcy lawyer, I know that the uncertainty surrounding a formal legal action is unwelcome and stressful. Although a collection lawsuit can be intimidating, many clients can protect their assets and defeat the action by taking the appropriate…
Americans now have more student loan debt outstanding than credit card debt. It’s a huge issue for consumers, and has been for some time now. As an Asheville bankruptcy lawyer, I am hopeful that Congress will take action sooner rather than later to address the limited options students have for repayment. In the meantime, I…
As an Asheville bankruptcy attorney, I’ve never met a potential client who wanted to file a bankruptcy case. Most people will do just about anything they can to avoid filing. Many times a consumer’s misguided notion about the bankruptcy process leads them to fall prey to expensive bankruptcy alternatives which make a consumer’s situation worse,…
As an Asheville bankruptcy lawyer, I frequently speak to consumers about financial stress. Without a safety net, people fear that an unexpected car repair or medical problem will make it difficult to pay for household necessities which provide safety like housing, food, or utility bills. This article in the Charlotte Observer explains that 66% of…
Generally, no. Unlike debt settlement, where consumers frequently have to pay income taxes on the forgiven portion of the amount owed prior to the settlement agreement, debts discharged in bankruptcy usually result in no adverse tax consequences for a consumer. A 1099-C form is sent to taxpayers by a financial institution when it has cancelled…
Yes. Income tax debts can be discharged in either Chapter 7 or Chapter 13 bankruptcy. The Bankruptcy Code requires that income taxes: (1) came due at least three years prior to filing for bankruptcy, (2) had a return filed at least two years prior to filing for bankruptcy, and (3) the tax be assessed at…
While working as an Asheville bankruptcy lawyer, I have spoken with people who never thought they would need help with their bills each month. According to a recent study, over 90% of families suffering from financial stress can trace their problems back to either medical issues, divorce, or a job loss. I’ve never met anyone…
As an Asheville bankruptcy lawyer, I have witnessed firsthand the damage financial stress can do to a marriage. Senator Elizabeth Warren did a study which concluded that divorce is one of the three main factors which force consumers to file for bankruptcy protection. Indeed, according to the study, over 90% of bankruptcy cases are linked…
Filing for bankruptcy protection can be a difficult decision. Many clients I’ve spoken with as an Asheville bankruptcy lawyer tell me that they have tried everything to avoid filing. Though well-intentioned, many consumers who file bankruptcy after struggling for a long time would have gotten a better result had they reached out for professional help…
No, you must first be served with a Notice of Right to Claim Exemptions in North Carolina before any property is taken from you to satisfy a money judgment on a general, unsecured debt. Further, supplemental proceedings (court hearings) are required under NCGS 1-352 before a consumer’s bank account can be drained by a judgment…