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Target Security Breach
On December 19, 2013, Target announced that thieves had gained unauthorized access to Target payment card data. 40 million guests who had shopped and made credit or debit card purchases in US Stores between November 27th and December 15, 2013 may…
Stripping Off an Unsecured Mortgage on Property Owned Tenancy by the Entirety in North Carolina
North Carolina recognizes Tenancy by the Entirety ownership of real property, and now there is one more reason why that matters in bankruptcy. Generally, a Chapter 13 bankruptcy case provides a means for stripping off a wholly unsecured junior mortgage…
Dismissal of Chapter 7 Case for Lack of Good Faith
On January 30, 2014, in the In re Stancil case from the Raleigh Division of the Eastern District of North Carolina, Judge Stephani Humrickhouse issued an opinion on a dismissal based on 707(a) of the Bankruptcy Code. A dismissal under…
How to Avoid Losing Part, or All, of a Bequest During a Chapter 13 Bankruptcy Case
The 4th Circuit Court of Appeals (of which North Carolina is a part) ruled October 28, 2013 that a Chapter 13 debtor who acquires a bequest during the pendency of the bankruptcy case may have to turn over part, or…
The Dangers of Homemade Estate Planning
There are a lot of things that are better homemade. Bannan pudding comes to mind, here. And Christmas tree ornaments. But when it comes to planning how a family member’s assets will be distributed after their death, it’s really best…
Can a Judgment Creditor Garnish Wages in North Carolina?
Having a judgment entered against you can be a stressful situation, especially when the Sheriff’s deputy shows up with a Writ of Execution. People often wonder if their wages can be garnished here in North Carolina by a judgment creditor. …
Former NFL Quarterback Vince Young Files Chapter 11 Bankruptcy
Former NFL quarterback, Vince Young, has filed for Chapter 11 bankruptcy protection in Houston, Texas. After spending his college years as quarterback for the University of Texas, Young was drafted by the Texas Titans as the third overall draft pick…
Leaving Debts Off of a Bankruptcy Filing
We are commonly asked whether debts may be excluded from a bankruptcy filing. Below are several common examples: 1. A secured debt where the debtor wants to keep the collateral 2. A credit card that the debtor needs for: a. emergencies b. travel…
Credit Counseling and Financial Management Course Requirements
The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA) is considered to be one of the most radical bankruptcy reform laws. Among the sweeping changes ushered in by BAPCPA included a requirement for individual debtors seeking Chapter 7…
December 2013 and Year End Bankruptcy Statistics
December 2013 bankruptcy filings totaled 66,478 in the United States, bringing the nationwide filing total to 1,032,326 for the 2013 calendar year. According to the American Bankruptcy Institute, the December 2013 bankruptcy filings show a 12% decrease from the 75,691…
