Wootton & Wootton, P.C.

Bankruptcy Help For Everyday People

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Bankruptcy & Estate Planning Help For Everyday People

September 2019 Archives

Credit card debt is increasing rapidly across the U.S.

Credit card debt is a worry for North Carolina residents and people across the United States. Since making ends meet can be difficult, people are frequently using their credit cards to bridge gaps and make necessary purchases. In other instances, people spend beyond their means and find themselves in financial trouble. Research shows how prevalent this is.

Bankruptcy can be a way to end pending creditor lawsuits

Getting served is usually an experience you don't expect to happen, which makes it relatively unsettling. A stranger confirms your name with you and then hands you paperwork, informing you that this is service for a legal matter. For hundreds of people across North Carolina every year, those papers relate to a creditor attempting to collect on a debt that has gone unpaid.

HAVEN Act gives veterans more protection in bankruptcy

North Carolina military veterans may find it difficult to make ends meet, especially if they are disabled and relying on military benefits to support themselves. Medical bills and personal bills can stack up, leading to creditor calls and demands for payment. As a result, veterans may find themselves facing low credit scores, difficulty renting or buying a home and even threats of lawsuits. Personal bankruptcy can be an important safeguard as a mechanism that helps people escape the crushing burden of excessive debt. Veterans are particularly affected by bankruptcy. While they make up only 10% of the population overall, they comprise 15% of those filing for both Chapter 7 and Chapter 13 personal bankruptcy.

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3200 Croasdaile Drive
Suite 504
Durham, NC 27705

Toll Free: 800-610-3643
Phone: 919-794-8660
Fax: 919-382-2042
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Henderson, NC 27536

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