When small businesses in North Carolina face hard times, they may consider filing for bankruptcy. According to the U.S. Chamber of Commerce, up to 43% of small businesses may face difficult enough challenges that force them to close. Larger corporations facing...
A surprising number of people are filing for bankruptcy, and this has been the case in the past 10 to 20 years. More and more people are not able to pay off their debts in a reasonable amount of time which is why Congress addressed this financial issue in 2005 by...
If your North Carolina company is struggling to pay its debts in a timely manner, it may be a good idea to file for Chapter 11 bankruptcy. This type of proceeding allows a company to reorganize its finances without having to go out of business. Take a closer look at...
If you are struggling to stay current on your debts, you should consider filing for Chapter 13 bankruptcy. A Chapter 13 proceeding allows you to retain the property, such as a North Carolina home, car, or other personal items, while your case is pending. Priority and...
Consumers in Raleigh, North Carolina, may turn to bankruptcy when faced with debt that has gotten out of control. For some people, an unexpected pileup of debt happens more than once. Individuals may wonder if they are allowed to refile for bankruptcy and how soon...
When small businesses in North Carolina face financial issues to the extent that they are unable to pay their debts, bankruptcy can be an important option to find debt relief and move forward toward a different financial future. However, small business owners may be...
If you file for bankruptcy in North Carolina, you will typically receive an automatic stay of creditor collection activities. However, this doesn't mean that your creditors will abide by the terms of the stay. Take a closer look at what may happen if a violation...
Some people don't really understand what bankruptcy means. They may even view it as a failure. But what bankruptcy actually does is wipe the slate clean so an individual can start over again. Understanding how North Carolina business owners can benefit from bankruptcy...
Understanding the basics of bankruptcy in North Carolina is vital for everyone. It could be a lifesaver or at least give you solace when you are drowning in debt or trying to get compensated as a creditor during a legal battle. Let us look at the basics of bankruptcy...
Most debtors in North Carolina file for Chapter 7 or Chapter 13 bankruptcy when they need debt relief. Chapter 7 erases unsecured debts by selling assets through a trustee while Chapter 13 allows debtors to pay creditors over time and keep property. However, Chapter...
