Chapter 13
Can Bankruptcy Help You Retrieve Your Car After It Has Been Repossessed in North Carolina?
It is not uncommon for Sasser Law Firm to receive a phone call and the first words after “Hello,” are, “My car was just repossessed. Can I get it back if I file bankruptcy?” Of course, each situation can be...
What to Do When Your Mortgage Forbearance Ends
As COVID-19 mortgage payment forbearances come to an end in the coming months, chapter 13 bankruptcy is one of the options homeowners may wish to consider. A chapter 13 bankruptcy allows a homeowner up to five years to bring current...
Bankruptcy Can Help You Stop an Eviction or Help You Transition to a New Residence
Written By: Cort Walker The coronavirus pandemic and its impact on the local (Raleigh, NC) and national economy has financially devastated many individuals and families. Evictions and, as a result, homeless families are a very real threat for 2021. Many...
Bankruptcy and the "Consolidated Appropriations Act"
Written by: Philip Sasser When the first stimulus package (aka The CARES Act) was passed in March 2020, the part most people focused on was how much money they were going to get – responses generally falling into the categories...
Chapter 13 Bankruptcy and Building Credit
When you’re in Chapter 13 bankruptcy, it may feel like a purgatory that limits your financial options. You can, however, use this time and this tool to strategically improve your credit-worthiness. How Chapter 13 Bankruptcy Affects Your Credit Report The...
Cramdown in a Chapter 13 Bankruptcy
One of the major advantages of filing a bankruptcy under Chapter 13 is the ability to “cram down” a debt secured by your property. If you owe more than what your financed property is actually worth – which is a...
A Survey of the Local Form chapter 13 plans
The Final Report of the American Bankruptcy Institute Commission on Consumer Bankruptcy §4.02 addresses Nonuniform Court Practices. The background to the provision notes that “Local practices can deviate from the Bankruptcy Code or the Federal Rules of Bankruptcy Procedure. Perhaps...
Chapter 13 Debt Limits Increasing after April 1, 2019
Individuals who are considering seeking bankruptcy protection may benefit from the recent increase in the amount of debt you can have and qualify to file for a Chapter 13 bankruptcy reorganization. Debtors can only qualify for a Chapter 13 reorganization...
Post-Bankruptcy HOA Dues
Homeowners association dues aren’t usually at the top of the list of worries for someone struggling with an unmanageable load of debt. Compared to delinquent mortgage payments, credit card debt, and medical bills piling up, the monthly or quarterly dues a homeowner...
Cross-Collateralization Bankruptcy
Many people sign loan agreements without reading the fine print or understanding the consequences if the agreement contains a cross collateralization clause. Cross collateralization provisions in loan agreements can create unexpected complications for borrowers seeking to discharge debts by filing...
