Wootton & Wootton, P.C.

Bankruptcy Help For Everyday People

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Bankruptcy Help For Everyday People

March 2020 Archives

Can I file another bankruptcy case if I have filed a bankruptcy before?

This is one of the most common questions we receive in our office and generally the answer is YES. It is rare that clients are not eligible to file a new bankruptcy case if they have filed a previous bankruptcy. In fact, many of our clients have had to file bankruptcies with our office in the past and come back again to see us if they need to re-file. At Wootton and Wootton we are always happy to help guide you through the bankruptcy process and determine your eligibility to file another bankruptcy case.

How can I file a bankruptcy for no money down?

Under the current Ch 13 laws it is possible for some clients to file a Ch 13 bankruptcy without paying any upfront fees or costs. A Ch 13 bankruptcy is a type of plan that can set up reasonable payments for a 3-5 year period to help individuals and couples catch up on car loans, back house payments and help with unsecured credit card debt. In a typical Ch 13 case a client may be behind in car payments and have unsecured loans and credit cards as well. In this situation we can set up a payment plan to pay for the car loan over a five-year period and in most cases alleviate the unsecured debt without having to pay any money to those unsecured creditors. In some cases, you may be able to even greatly reduce the amount you pay back on your car loan. If you do not have the up-front filing fees of $310.00 to start the Ch 13 bankruptcy it is possible in certain situations to file a Ch 13 case for no money down. This allows you to set up a payment plan to pay the filing fee in three installments while at the same time obtaining the protection you need from the bankruptcy laws. In order to qualify for the no money down filing you have to meet certain criteria in our office.

Employers will hire people who have filed for bankruptcy

Individuals who file for bankruptcy are likely to have a difficult time getting unsecured credit cards or loans. However, one study found that filing for bankruptcy is unlikely to have an impact on whether a person is able to find a job. Furthermore, filing for bankruptcy is unlikely to have an impact on how long a person stays in a particular position.

In what situation is Chapter 7 the best bankruptcy choice?

If you are sick and tired of being in overwhelming debt, you may have concluded that you need to make a drastic change. Financial troubles do not usually go away unless significant changes are made. If you do not feel that you can increase your income or reduce your outgoing expenses significantly enough to tackle your debts, considering filing for bankruptcy could be a wise move.

Creditors obligated to pause collection attempt during bankruptcy

One reason why people in North Carolina may file for personal bankruptcy is to put an end to creditor calls and collection attempts, including lawsuits and repossessions. People struggling with insurmountable debt may face intensive attempts to collect, and filing for bankruptcy may provide them with options to find relief. When people file a bankruptcy petition, an automatic stay goes into effect. Creditors that want to move forward with ending a lease or other actions need to approach the bankruptcy court first, and they can be penalized for failing to comply with the automatic stay.

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Durham Office
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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Suite 104
Henderson, NC 27536

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Phone: 919-794-8660
Fax: 919-382-2042
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