You may have successfully filed for Chapter 13 bankruptcy and have come up with a repayment plan to handle your outstanding debts. But what if a sudden change in your life makes it difficult or even impossible to fulfill your plan? You may fear that a court will...
Bankruptcy
Chapter 7 vs. Chapter 13 bankruptcy: What’s the difference?
Individuals struggling with debt can file for either Chapter 7 or Chapter 13 bankruptcy. Understanding the differences between these pathways can help you make an informed decision about debt. Learn more about the differences between Chapter 7 and Chapter 13...
Revamping your finances after bankruptcy
A common myth about bankruptcy is that your finances take a huge hit. While you may feel the impact of a temporarily modified financial state, bankruptcy can provide a valuable opportunity to start over. Knowing how to rebuild your finances after completing a...
Bankruptcy can be a fresh financial start
Unfortunately, in our society, the term, “bankruptcy” can seem like a dirty word. Historically, society in general has given the action a negative connotation – as if people have failed or that they are not living up to their commitments. However, especially in these...
Consider whether to file for bankruptcy jointly or individually
No matter where you are in your marriage, bankruptcy provides a tool for debt resolution that may help ease financial and emotional tensions in the household. But when considering bankruptcy, it is important to note that you may or may not file with your spouse in...
How do you stay out of credit card debt?
Falling into debt is a scary experience, and digging yourself back out of it can feel like the most satisfying thing in the world. But no matter how you go about relieving your debt, one thing is important: preventing it from happening again. This often means taking a...
I can no longer make my credit card payments — what comes next?
A significant reduction in your income could lead to an unplanned budget revision. This could involve paying your credit card bills after you cover your rent or mortgage. Unfortunately, an inability to meet your credit card obligations on time may result in...
Keeping your assets safe during a bankruptcy proceeding
Bankruptcy is a daunting prospect, and many people believe that they will lose everything. Fortunately, there are a few legitimate ways that you can keep your assets safe. Although individual North Carolina counties may vary, most allow some form of asset protection....
How may an automatic stay help when filing for bankruptcy?
An automatic stay, which generally follows a bankruptcy filing, could prevent creditors and collection agents from contacting you about your debts. Without the continuing phone calls and demand letters, you may find relief from harassment as you move forward. If you...
What is debt collector misrepresentation?
Debt collectors must abide by the Fair Debt Collection Practices Act (FDCPA) and leave people like you alone when you are suffering under debt. Despite that, they may sometimes still engage in harassing or misrepresentative behaviors. Many guides discuss how to spot...