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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…
How Often Can You File for Chapter 11 Bankruptcy?
If you’re a struggling business owner, filing for Chapter 11 bankruptcy can give you a chance to restructure your debts and find a way back to solvency. Hopefully your first bankruptcy filing will address your business’ financial issues. If not,…
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…
Signs You May Want to Consider Filing Bankruptcy
Life can be unpredictable. Unfortunate circumstances can leave people worrying every day if they will ever be able to pay off their debts. Many people struggling to make ends meet likely exhausted their savings and fear losing their homes. Others…
NC Bankruptcy Means Test (Median Income) Increase as of Nov 1, 2020
As of November 1, 2020, the North Carolina median income, for means test calculation purposes, increased. This means that the six-month look back on your income allows for a slightly higher income threshold for your household size than it did…
Crises Are Not Limited to Global Pandemics
Crises are not limited to a global pandemic. People experience various levels of crisis all the time, but sometimes those crises hit close to home and become too much to handle alone. If you have a medical emergency you would…
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…
