Raleigh Bankruptcy Law Blog

If a creditor obtains a judgment against you, there is a chance that your wages may be garnished. There is also a chance that you will be required to pay fees and interest on top of the principal balance owed. However, there are steps that you can take that may...

Filing for bankruptcy in North Carolina is a common solution for individuals who cannot pay their debts. But after filing for bankruptcy, many people are left wondering whether they will be able to qualify for a mortgage. There are two main types of bankruptcy that an...

One of the most common reasons people in North Carolina face financial challenges is through medical debt. Illness, injury or a condition might make it necessary to get extensive medical treatment. This often happens without warning and may result in exorbitant bills....

Chapter 11 bankruptcy may provide companies in North Carolina and throughout the country with an opportunity to eliminate or restructure debts. It may also provide a framework for dealing with lawsuits or for an organization to secure financing to execute its...

On average, households in North Carolina and throughout America have $15,000 in credit card debt. If you are trying to reduce or eliminate your credit card debt, there are many steps that you can take to achieve this goal. Credit counselors and others may be available...

Businesses and individuals in North Carolina may be allowed to file for Chapter 11 reorganization bankruptcy. Individuals may be required to file for Chapter 11 protection if their unsecured debts exceed $419,275 or their secured debts exceed $1,257,850. In such a...

Individuals in North Carolina and throughout the country may be able to file for bankruptcy to reorganize or eliminate their debts. Generally speaking, a person can file for bankruptcy multiple times to get out of a financial crisis. However, those who wish to file...

The automatic stay is one of the major protections that bankruptcy law gives to debtors. When it is in effect, creditors are prohibited from taking steps to collect. This keeps things preserved in place and does not let one creditor jump ahead of the other. It also is...

North Carolina residents who are struggling to pay off credit card balances and other bills may have heard of the “debt-snowball” approach made popular by the finance guru David Ramsey. Following a snowball plan involves applying all available funds to the card or...

For many people in North Carolina, Chapter 7 bankruptcy can offer a route out of a difficult financial situation. People have the opportunity for debt relief through the liquidation of their assets, and their creditors can claim proceeds from the bankruptcy estate in...