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...
The process of filing for commercial bankruptcy in North Carolina depends on what type of bankruptcy you choose. There are options for all types of business structures, including sole proprietorships. Farmers and fishers also have a special type of bankruptcy they can...
Many North Carolina businesses rely on unsecured credit to finance their operations. Businesses that cannot make their loan and credit card payments might use the bankruptcy process to discharge their unsecured debts. However, the type of bankruptcy that might be...
Each state has its own bankruptcy laws, so you need to know how a personal bankruptcy works in North Carolina. Some states allow you to choose whether you follow federal or state guidelines for nonexempt assets. North Carolina observes both lists of exempt assets as...
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...
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...
If you want to keep your North Carolina home or other property, you may want to consider filing for Chapter 13 bankruptcy. However, if you can't keep up with the plan payments, you may want to convert a Chapter 13 to a Chapter 7 filing. Do you qualify for Chapter 7...
For many struggling businesses in North Carolina, filing for bankruptcy might seem like the only option. However, the process can put business assets, like real estate, at risk. An individual will have to make full mortgage payments to his or her lender, and if he or...
