Raleigh Bankruptcy Law Blog

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...

Medical debt can result in bankruptcy even if you have a job and a robust health insurance policy. A study from Salary Finance found that 28% of people in North Carolina and throughout America owe $10,000 or more in medical bills. Health care costs have gone up since...

In North Carolina, those who consider filing for bankruptcy may be told that the long-term impact of their filing is that they will have trouble finding a new job or even keeping the one that they have. However, new research shows that this may not be as much a cause...

When North Carolina businesses are unable to pay their bills or keep up with operating expenses over a long period of time, Chapter 11 bankruptcy may offer them an opportunity for reorganization and a fresh start. While Chapter 11 can provide an important mechanism...

If a debtor is granted an automatic stay in a North Carolina bankruptcy case, creditors must stop all collection activities. This means that they cannot follow through with a lawsuit, garnish wages or take any other action prohibited by the stay. In some cases,...

Bankruptcy can be a struggle but also an opportunity for many companies in North Carolina. Some of the nation's most well-known corporations have gone through the Chapter 11 bankruptcy process of reorganization and emerged again, including Texaco, General Motors and...

North Carolina companies that are looking for debt relief may choose to file for either Chapter 7 or Chapter 11 bankruptcy. Those that seek Chapter 7 relief generally have most of their assets liquidated by the trustee and then cease operations. Businesses that file...

Entrepreneurs in North Carolina know that running a business always involves taking risks. For the movie ticket subscription service MoviePass, its parent company Helios and affiliate Matheson Analytics, the odds against them proved too high to overcome. After a...