Chapter 7
how to handle personal guarantees on business obligations
A lot of times when a small business owner is considering shuttering their company so they can find work someplace else one of their main concerns is how to handle personal guarantees on business obligations? The most obvious way for...
What Bankruptcy Can and Cannot Do
Bankruptcy can be a practical solution for people with problematic debt. It can also help them hold onto important assets, rebuild their credit, and find a stable financial path forward. However, bankruptcy has limitations that you need to understand if...
Foreclosure After COVID-19 – Can Bankruptcy Help?
The COVID-19 pandemic has left many people asking how to stop foreclosure proceedings and if filing for bankruptcy can help. In many cases, bankruptcy can help you avoid foreclosure, but it’s important to be aware of the issues involved. Keep...
Random Audits
It is not likely but always possible that your personal bankruptcy case will undergo an audit directed by the United States Bankruptcy Administrator which monitors and investigates bankruptcy cases to ensure compliance with applicable laws and procedures. If the Bankruptcy Administrator finds evidence of fraud,...
How Do Chapter 7 and 13 Bankruptcy Affect My Credit?
It’s a question we hear often: How long does a Chapter 7 bankruptcy stay on a credit report? A Chapter 7 bankruptcy will remain on your credit report for 10 years, but the real impact of a bankruptcy on your credit...
Benefit of Car Liens When Filing Bankruptcy
Filing Bankruptcy with a Car Lien In some situations, an outstanding car loan – and, therefore, a lien on your car – can be helpful if you are filing for bankruptcy. Having an obligation to make car payments may allow...
Medical Debt Piling Up? Bankruptcy Might Help
The COVID-19 crisis is subsiding here in the United States. Thankfully, daily death tolls are decreasing, and many Americans are fully vaccinated. One of many lingering problems from the pandemic for some individuals will be medical bills relating to...
6 Things That Happen After Filing Chapter 7 Bankruptcy
When considering your debt relief options, you may wonder what happens after you file bankruptcy. Bankruptcy is a legal process that sets off a chain reaction of events. Some of these events are to protect you while others are to...
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...
