Bankruptcy

Bankruptcy is a legal process that helps individuals and businesses who are drowning in debt to clear their financial burdens and make a new start. However, before you can file for bankruptcy, you must undergo credit counseling. If you do not complete a session of...

Personal bankruptcy allows individuals facing overwhelming financial difficulties to seek relief from their debts under the supervision of a court. Chapter 7 (liquidation of nonexempt assets) and Chapter 13 (reorganization of debts) are two primary types of personal...

Dealing with overwhelming debt can weigh heavily on your shoulders. It can cause sleepless nights, stress and a sense of hopelessness. However, there is a light at the end of the tunnel for many in this situation: filing for bankruptcy. While you should never take the...

When facing financial difficulties, many people in North Carolina think about filing for Chapter 7 bankruptcy as a way to obtain relief from overwhelming debt. However, before proceeding with a Chapter 7 bankruptcy case, you must determine whether you meet certain...

The National Center for Education Statistics found that 38% of incoming undergraduate students took out federal student loans in 2020. Many who complete some college find that their loan debt is an overwhelming financial burden. Some may even consider bankruptcy to...

For many people considering bankruptcy, one of the biggest fears about the process is that you will have to give up your assets and possessions in order to complete the process. However, with Chapter 7 Bankruptcy, you may not have to give up any of your property,...

Bankruptcy is a significant financial event that can dramatically affect your credit. However, it does not mean an end to your financial life. Filing for bankruptcy is a step toward resolving overwhelming debt, and while it may lower your credit score initially, you...

According to the 2021 Finmaster report, 6577 people filed for bankruptcy in North Carolina. If you find yourself sinking deeper into debt and are unable to keep up with payments, you might be considering bankruptcy as a way to manage your financial situation. Filing...

Financial struggles are part of life. Filing for bankruptcy makes sense when they become too much to handle. This path allows people to settle past mistakes and start over. There are right and wrong ways of approaching the bankruptcy process. Knowing what to avoid is...

If you find yourself overwhelmed by debt due to a divorce, job loss, a serious illness or another unfortunate life situation, you may want to file bankruptcy to find some relief. There are two main types of consumer bankruptcy that you can file: Chapter 13 and Chapter...