Filing a Chapter 7 bankruptcy case to clear away debts before or after getting married will not effect your spouse’s credit in any way. Because married folks usually own assets together (cars, houses, etc.), a bankruptcy case can insure that your creditors will not seek to recover money from property which you own together. The…
If you live in Western North Carolina and file a Chapter 7 or Chapter 13 bankruptcy case, you might be surprised at how few people find out what you are doing. Usually, the people who will know are: -Your bankruptcy attorney -The bankruptcy trustee (another lawyer in town) -Your Creditors (usually out of state collection…
I often speak with new clients in my bankruptcy law practice here in Asheville NC about what property they can keep should they decide to file a Chapter 7 case. In over 90% of the cases filed, the answer is: everything. All of your property should be listed on your petition, but most of the…
When the following conditions exist, filing Chapter 7 may be your best bankruptcy option: You cannot pay your debts. Your creditors are pestering you or threatening to sue you. All of your assets are exempt. If you want to keep property securing a debt (house, car, etc.) you are current with the payments. Chapter 13…
Small business owners near Asheville NC consult with me all the time about their options in bankruptcy. They often wonder if they can keep their business going, and what life will look like after a case has been filed. The good news is that a “fresh start” in bankruptcy can give a small business a…
As a bankruptcy lawyer near Asheville NC, it hurts when I speak with people during an initial consultation who have been paying money they desperately need for their families to unscrupulous debt settlement “law firms.” The sales pitch is aimed at people who want to avoid bankruptcy at all costs, and these “law firms” or…
I see clients all the time who have become aggravated by the short sale process because right when they think they have a deal, their mortgage company changes the terms again. It feels like a hopeless situation waiting on the bank to sign off to let the client move on with their life. I have…
A motion for relief from stay is a request by a creditor for the Bankruptcy Court to grant permission for them to pursue collection actions such as foreclosures, repossessions, etc. There are a couple reasons such requests are granted: failure to make payment, a client has decided to surrender the property in the bankruptcy, or…
We have finally received some good news in the job market: Unemployment Rate Drops. Most people who make an appointment with an Asheville bankruptcy attorney think that bankruptcy is a process designed to help the poorest of the poor. Not true. I generally do not recommend a bankruptcy filing unless, if all your medical and…
Yes, you can. An Asheville Bankruptcy Lawyer can explain your choices, and make a recommendation on the best strategy for you. If the collateral is real estate and your payments are current on the date that you file the Chapter 7, and your equity in the collateral is covered under the exemptions ($35,000 per spouse…