After you miss a few mortgage payments, your lender decides to foreclose on the property. You mentioned the dilemma to a friend, and they tell you that all you need to do is declare bankruptcy. If you do, then the lender can't move forward with the foreclosure and you...
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Bankruptcy Help For Everyday People
Durham Bankruptcy Law Blog
Is bankruptcy a bad career move?
On Behalf of Wootton & Wootton, P.C. | Apr 25, 2022 | Personal Bankruptcy
Many people fear what others will think if they file for bankruptcy. Of particular concern is what current or future employers might think. For most people, that worry is a non-starter. If you can still lug bricks around the construction site or inspire children to...
Can you qualify for Chapter 7 bankruptcy at your current income?
On Behalf of Wootton & Wootton, P.C. | Apr 15, 2022 | Chapter 7
The different kinds of bankruptcy each have drawbacks and benefits. Individuals usually need to choose between Chapter 7 and Chapter 13 bankruptcy unless they also own and operate a small business or farm. Chapter 13 bankruptcy is easier to qualify for, but it...
What filing bankruptcy can’t do
On Behalf of Wootton & Wootton, P.C. | Apr 13, 2022 | Personal Bankruptcy
Bankruptcy is a powerful solution for many financial issues. It may help stop a foreclosure, wage garnishments and eliminate some of your debt. For many people, this is all they need. However, if you are considering filing for bankruptcy, it’s important to understand...
Can my bankruptcy discharge be denied?
On Behalf of Wootton & Wootton, P.C. | Mar 28, 2022 | Personal Bankruptcy
Filing for bankruptcy is a major decision that can have far-reaching consequences. If you're considering declaring bankruptcy, you probably have a lot of questions about the process and what it will mean for your future. One thing you may be wondering is whether your...
Will you lose your car if you file for Chapter 7 bankruptcy?
On Behalf of Wootton & Wootton, P.C. | Mar 16, 2022 | Chapter 7 Bankruptcy
When things are not working out with your finances, and you are thinking of filing for bankruptcy, it is never an easy decision. You are constantly worried about what the future holds, given the current state of affairs. You may be wondering whether you will keep some...
What is an acceleration clause and how it could affect your finances
On Behalf of Wootton & Wootton, P.C. | Mar 2, 2022 | Chapter 13 Bankruptcy
Acceleration clauses are common additions to home mortgages. They often hide under the radar. However, if they are triggered — by your actions, inactions or external factors — these clauses can herald huge problems for you. Let’s do a deeper dive and learn more about...
For how long will a bankruptcy affect your credit score?
On Behalf of Wootton & Wootton, P.C. | Feb 24, 2022 | Debt Relief
Bankruptcy can be an effective solution to aggressive debt collection, but it also means limitations on your credit opportunities for the immediate future. Those who file for personal bankruptcy and successfully discharge debts will lose all of their revolving lines...
There are rules for debt collectors
On Behalf of Wootton & Wootton, P.C. | Feb 16, 2022 | Debt Relief
Being in financial debt can be stressful in itself, even without considering the different means of debt collection. While some debt collectors show compassion, their ultimate aim is to collect payments. This means that they may lack empathy for how a person got into...
How the No Surprises Act aims to par down medical bills
On Behalf of Wootton & Wootton, P.C. | Jan 31, 2022 | Medical Debt
A medical emergency can happen anywhere at any time. Let’s say you’re at your in-law's house for Thanksgiving. You try to help by removing the turkey from the oven and you severely burn yourself. Your mother-in-law calls for an ambulance and you find yourself at a...
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