Chapter 7 Bankruptcy

Bankruptcy is often described as a financial tool that can eliminate debt and give you a fresh start financially. This sounds great to many people, who may always keep it in the back of their minds as an option. If the debt level that they’re facing gets a bit high,...

In a lot of cases, bankruptcy is a one-time event spurred by something outside of your control. It could be medical debt, for example, or other unexpected costs. But even in cases where you simply were spending above your means, this doesn’t have to be a consistent...

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...

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...

Your finances took a major hit. While you have been trying to pay your bills on time every month, it has gotten harder and harder. Without enough income to work with, you may be falling behind on more than one bill. You may not like the idea of filing for bankruptcy....

Chapter 7 bankruptcy doesn't work for everyone. Those with income above the state median may not qualify. Even people with no income may find it is not the right kind of bankruptcy for them if they have a lot of personal property.  You do have the option of protecting...

When someone says they’re going to declare bankruptcy, you may assume that they made poor financial decisions. Maybe they spent too much money, lived beyond their means or they took on bad debt that had too many risks.  But is this actually true? When you look at the...

For individuals, the most commonly used kind of bankruptcy is Chapter 7 bankruptcy. If you’re interested in filing for bankruptcy, you may be wondering if you can qualify. Perhaps you’re just out of college, or maybe you are about to go into retirement. Regardless of...

If you are having trouble staying current on unsecured debts, it may be possible to eliminate them through Chapter 7 bankruptcy. However, there is a chance that a North Carolina judge may require you to file for Chapter 13 protection. There are several reasons why...

If you're thinking about filing for bankruptcy in North Carolina, you might want to start talking to an attorney. Many people don't realize that their creditors can go to court and request an involuntary bankruptcy. Filing for voluntary bankruptcy allows you to retain...