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How Can the Benefits of Bankruptcy Have a Positive Affect on the Community?

Benefits of Bankruptcy for the Community The benefits of bankruptcy extend beyond just the individual—they positively affect the community as well. Surprising? Many associate bankruptcy with dishonesty or irresponsibility, assuming it causes widespread harm. While there are occasional bad actors…
Post-Confirmation Appreciation of Property in Sub-Chapter V Cases

A common dilemma in Chapter 13 cases arises when the debtor’s property increases while the case is pending. If creditors are slated to receive $10,000 over the five-year Chapter 13 plan because the debtor owns property worth $45,000, then who…
What Are the Types of Bankruptcies in NC?

When debt gets out of hand, whether with personal finances or at your business, you may wonder what options are available to you. Understanding the different types of bankruptcies may offer answers. Types of Individual (Consumer) Bankruptcy When an…
Can You File Bankruptcy on Child Support?

Sometimes, your bills and debts pile up, and there’s no way for you to get out from underneath them. Bankruptcy offers you a second chance by eliminating some of your debt and giving you a fresh start. One debt you…
Rufus Reynolds’ Approach to Wage Earner Bankruptcy and its Enduring Impact

Rufus Reynolds’ approach to wage earner bankruptcy[i] had an enduring impact. He was appointed bankruptcy referee[ii] in the Middle District of North Carolina (MDNC) in 1946. He served until 1986 but was recalled to preside over the PTL case until…
What Happens If Co-Signer Files Chapter 7?

While Chapter 7 bankruptcy can relieve the co-signer of their legal obligation to repay the debt, the primary borrower remains responsible. In some cases, the loan agreement has a clause that puts the loan in default upon the co-signer’s bankruptcy….
Bankruptcy Judges are not Free to Craft Remedies

Two different kinds of things were decided in the recent Supreme Court decision in Harrington v. Purdue Pharma L.P.: the specific thing and the general thing. The specific thing was that it is no longer permitted – even in very limited…
Fourth Circuit opinion says tenancy by the entirety not exempt from tax debt
How does a Fourth Circuit Court of Appeals ruling on tenancy by the entirety impact the Eastern District NC Bankruptcy Court? High School civics class was long ago, so let’s review how court decisions work their way up the appellate…
Disputed Territory

The United States Supreme Court recently heard oral arguments about the Purdue Pharma bankruptcy case. That, in itself, is not terribly unusual. Since bankruptcy is Federal Law, the US Supreme Court is the natural and appropriate endpoint for all bankruptcy…
Keeping your Roof with $0 Down in Chapter 13

If you’re a homeowner facing financial turbulence, you’re not alone. Life can toss us into rough seas, but there’s a possible lifeline – Chapter 13 bankruptcy. What do you do if you need to take action but have zero money…