Bankruptcy

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...

Once your debt surpasses a certain point, you may start wondering if filing for bankruptcy might give you the fresh start you need to get your financial affairs back in order. Many North Carolina residents struggling with increasingly overwhelming debt decide to file...

Bankruptcy is a legal process that requires you to follow certain rules. Part of those rules is providing the information requested by the court. You do not have a choice in what you tell the court if you wish to have your case move forward. Omitting information can...

Once you start falling into debt in North Carolina, you may find it increasingly difficult to fig yourself out. When you are already struggling to stay current on your bills, something as small as a late fee may mean the difference between keeping the lights on or...

When debts become overwhelming, bankruptcy can be an effective solution for getting the situation under control in the short term. However, it is important to be aware of the long-term implications of filing for bankruptcy. Chapter 7 and Chapter 13 bankruptcy are the...

Dealing with debt collectors is not anyone's idea of a good time. Unfortunately, they can doggedly pursue people through a variety of situations, and may try numerous tactics to get a person's money to boot. How can you tell whether or not a debt collector is using...

Bankruptcy allows businesses and individuals to wipe out their debt and start with a clean financial slate. However, they work very differently. Here are the differences between personal and corporate bankruptcies. Personal chapters 13 and 7 Chapter 7 allows...