As a result of the COVID Pandemic many mortgage companies quickly stepped in to offer mortgage forbearance plans to customers. In some cases, even if a customer did not ask or request for a forbearance the mortgage company would enter into a forbearance plan...
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Bankruptcy Help For Everyday People
Chapter 13 Bankruptcy
How Chapter 13 bankruptcy might help your company
On Behalf of Wootton & Wootton, P.C. | Nov 2, 2020 | Chapter 13 Bankruptcy
If you are looking to retain property while restructuring existing debt, it may be in your best interest to file for Chapter 13 bankruptcy. Although businesses cannot file for a reorganization bankruptcy, business owners in North Carolina and elsewhere may be able to...
How individuals can deal with bankruptcy and divorce
On Behalf of Wootton & Wootton, P.C. | Oct 7, 2020 | Chapter 13 Bankruptcy
While getting a divorce or filing for bankruptcy in North Carolina can be stressful, dealing with both issues at the same time can be overwhelming. Fortunately, with a little planning, there are steps that individuals can take to make the process easier. How can...
Chapter 13 bankruptcy and paying outside the plan
On Behalf of Wootton & Wootton, P.C. | Sep 23, 2020 | Chapter 13 Bankruptcy
When people in North Carolina file for a Chapter 13 bankruptcy, all creditor actions must stop. This allows filers to reorganize their finances into a repayment plan that last for three to five years. A lump-sum payment is made each month to a trustee who then makes...
How may bankruptcy be able to help with foreclosure?
On Behalf of Wootton & Wootton, P.C. | Aug 3, 2020 | Chapter 13, Chapter 13 Bankruptcy
For anyone struggling with debt and to make mortgage payments, and worried about foreclosure and holding on to their family home, personal bankruptcy options are important to understand and consider. Personal bankruptcy options may be able to help consumers and...
How debt could be discharged in Chapter 13 bankruptcy
On Behalf of Wootton & Wootton, P.C. | Jul 1, 2020 | Chapter 13, Chapter 13 Bankruptcy
There are many different purchases that people in North Carolina make using credit cards or by taking loans out for the purchase. People also may incur unexpected bills such as medical bills from an unexpected illness or injury. It is not uncommon for people to have...
How can I file a bankruptcy for no money down?
On Behalf of Wootton & Wootton, P.C. | Mar 18, 2020 | Chapter 13 Bankruptcy
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...
Candidates discuss medical debt during presidential debate
On Behalf of Wootton & Wootton, P.C. | Jan 20, 2020 | Chapter 13 Bankruptcy
North Carolina residents who watched the Jan. 14 Democratic presidential debate may have heard Senator Bernie Sanders say that about 500,000 Americans file for bankruptcy each year because of medical debt. Sanders based his claim on the results of a recent survey of...
The basics of chapter 13 bankruptcy
On Behalf of Wootton & Wootton, P.C. | Jan 7, 2020 | Chapter 13 Bankruptcy
When most people think of bankruptcy, they often think of someone having all of their assets repossessed, including their home. While that is what happens with chapter 7 bankruptcy, there are other forms of bankruptcy. North Carolina residents may be interested in...
Bankruptcy rates among older Americans are soaring
On Behalf of Wootton & Wootton, P.C. | Nov 13, 2019 | Chapter 13 Bankruptcy
Senior citizens in North Carolina and around the country are filing for bankruptcy in unprecedented numbers according to a recent study. Chapter 7 and Chapter 13 bankruptcies filed by Americans between 55 and 64 years of age have risen by 66% since 2016, and the...
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