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...
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Bankruptcy Help For Everyday People
Chapter 7
The various methods of paying down credit card debt
On Behalf of Wootton & Wootton, P.C. | Mar 29, 2021 | Chapter 7
Outstanding credit card debt can have a significant impact on your ability to start a family, buy a car or purchase a North Carolina home. However, there are several strategies that you can choose from to pay down those obligations in a reasonable amount of time....
Is student loan relief on the way?
On Behalf of Wootton & Wootton, P.C. | Mar 25, 2021 | Chapter 7
Student loan repayment obligations are a problem for many people in North Carolina and around the country, and now it appears there may be some relief in sight. While this is still a hot topic, there is a proposal on the table that would establish a Chapter 10...
Keeping a home in bankruptcy
On Behalf of Wootton & Wootton, P.C. | Mar 8, 2021 | Blog, Chapter 13, Chapter 7
Bankruptcy is a legal procedure that absolves the debtor in Durham, NC, of certain unsecured debts. Debtors often wonder about the fate of their home in bankruptcy, which depends on the type of bankruptcy. It is possible for debtors to keep their home if they meet...
Bankruptcy trustee must perform duties
On Behalf of Wootton & Wootton, P.C. | Oct 21, 2020 | Chapter 7
In Chapter 7 bankruptcy, also referred to as liquidation bankruptcy, one of the most important people is the trustee. A Chapter 7 trustee in North Carolina is responsible for collecting and liquidating the property of the bankruptcy estate and distributing the...
What is the bankruptcy means test?
On Behalf of Wootton & Wootton, P.C. | Aug 18, 2020 | Chapter 7, Chapter 7 Bankruptcy
When one is looking into filing for bankruptcy, the term, “means test” will undoubtedly come up, frequently. However, many of the articles on the web often skim past what the means test is and why it matters. What is the means test? Simply put, the means test is what...
What is the cost to file for Ch 7 Bankruptcy?
On Behalf of Wootton & Wootton, P.C. | Aug 10, 2020 | Chapter 7
We understand that these are incredibly hard financial times for people. We have decided to temporarily reduce our attorney’s fees for Ch 7 bankruptcy cases to help those that are contemplating filing a Ch 7 bankruptcy. From now until October 1st 2020, when we will...
Will I lose my car when I file for bankruptcy?
On Behalf of Wootton & Wootton, P.C. | Jul 17, 2020 | Chapter 13, Chapter 7
This is one of the most common questions people ask. Will I lose my car when I file for bankruptcy protection? There are a lot of rumors and misinformation swirling around that filing bankruptcy automatically makes you lose your car. In reality this is far from the...
Overview of the Chapter 7 bankruptcy process
On Behalf of Wootton & Wootton, P.C. | Jun 19, 2020 | Chapter 7, Chapter 7 Bankruptcy
Unfortunately, many see bankruptcy as a dirty word. In reality, anyone can fall on hard times. Bankruptcy offers us a financial reset button. It can restructure or discharge most, if not all, debts. However, it is important to understand the process. The most common...
Reaffirmations can help you retain assets post-bankruptcy
On Behalf of Wootton & Wootton, P.C. | May 29, 2020 | Chapter 7, Chapter 7 Bankruptcy
If you’re struggling with overwhelming debt, you’re not alone. Every year, millions of Americans struggle to find a way to make ends meet. This can threaten nearly every aspect of their lives, and make everyday a painful struggle that in nearly unbearable....
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