A North Carolina small business has a number of options available when in need of bankruptcy protection. One of these options is to pursue what is known as Chapter 11 bankruptcy. There are a number of requirements associated with bankruptcy in the commercial sector....
When debtors in North Carolina see no way out of debts, they may file for bankruptcy, a legal process to discharge certain unsecured debts. Some unsecured debts discharged in bankruptcy include credit card bills, payday loans, and medical debt. Many filers choose...
Chapter 11 commercial bankruptcy filings in North Carolina and other states have risen tremendously. A large portion of the businesses filing for this type of bankruptcy is considered small businesses that lack adequate capital. This particular type of bankruptcy...
If you're struggling with debt in North Carolina, filing for Chapter 7 bankruptcy can help you get rid of your debts once and for all. You can discharge most of your debts when you file for bankruptcy, although you might have to sell some of your assets to pay them...
One of the primary benefits of filing for Chapter 11 bankruptcy is that you'll likely receive an automatic stay. The stay goes into effect as soon as a North Carolina judge receives your bankruptcy petition, and it will typically remain in place until your case is...
According to the United States courts, Americans and U.S. businesses filed 682,363 bankruptcies in the year ending June 30, 2020. The total number of bankruptcies fell steadily from 2016 to 2019, down from 819,159 to 773,361 filings, before plummeting more than 90,000...
If you are a small business owner in North Carolina, you know that it is impossible to predict everything that will affect your company. Changes in government regulations, natural disasters, and trends in customer buying habits may leave you in a financial bind. If...
Filing for bankruptcy may make it possible to eliminate credit card, medical or other types of debts in a matter of months. In some cases, it might be possible to obtain protection from creditors without relinquishing any of your property. Let's take a closer look at...
If you don't believe that you can afford to repay a medical debt in a timely manner, it may be a good idea to consider filing for bankruptcy. As a general rule, it can be discharged in both a Chapter 7 or Chapter 13 proceeding. The facts in your given case will...
Student loan debt commonly tops five to six figures and can get impossible to pay. Consumers in Raleigh, NC, have the option of bankruptcy for relieving the burden of certain exempt debts. However, many types of debts get different treatment in bankruptcy, including...
