Bankruptcy Attorney | Weik Law Office | Serving Raleigh, Durham, Cary, Chapel Hill, and Wake Forest, North Carolina

As far as the tax liability goes, income taxes that are over 3 years old can be discharged or consolidated if they were filed on time. Other taxes, such as payroll taxes, have different rules. Contact us today to know all of your rights.

To consolidate your debt under a Chapter 13 Plan, you must have a regular and consistent source of income. Monthly retirement or social security is often used to qualify.

When you come into the office, you will meet with an attorney who will perform a complete financial analysis. They will give you all of your options under both Chapter 7 and Chapter 13.

We have helped many individuals who are facing retirement and it seems that in the last few years, it is more common to see clients who are approaching the Golden Years. Times are tough, and often retirement plan are the first thing to be cut in a tough economy. It’s important to remember that you do have options. Retirement should be a time of enjoyment and peace, not a time of major financial stress.

The consultation is free. Call our office at (919) 845-7721. You will listen to a short information tape and then be transferred to a receptionist.

In a recent edition of Consumer Bankruptcy News, it was reported that 79 million Americans have medical debt and that 1 in 3 workers spend 10% of their income on health care.

Medical bills often create an overwhelming and stressful situation. One major medical problem can virtually wipe out a family’s financial security. In reality, medical bills are considered mere unsecured debt that can often be discharged in a straight bankruptcy or paid back for as little as $2.00 per day under a Chapter 13. Once you file for relief, all creditor interaction must stop, including the annoying phone calls, garnishments and lawsuits.

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For the most part, people feel bad when they first come into the office, but after finally finding a solution, most people are relieved and happy that they now have a plan.  Let’s face it, no one wants to file for bankruptcy, but the reality is that times are tough.  You can’t watch the news or get on the internet without hearing about someone filing for bankruptcy or contemplating fiing.  Unemployment is at an all time high.  Gas prices are soaring.  People are getting laid off every day.  Bad things happen to good people and many times, the best solution is to file.  It certainly doesn’t make you a bad person.  What do you think the creditor harassing you on the phone would do if they were in the exact financial situation as you?  Let me assure you that they come into the office to file for bankruptcy more than you realize.

The Chapter 13 is often referred to as a Wage Earners Plan, but wages can often be in the form of other income.  In order to qualify, all sources of income must be considered.  Thsi would include social security, disability, unemployment, income from a friend, income from a boarder or renter, income from self-employment, child support and business income.

There are generally three ways to find out about a bankruptcy filing.  First, if you are a creditor listed in a case, you will receive ntice of the filing.  Next, you can find out about a filing if the Debtor tells you that he has filed.  Finally, the Bankruptcy Court has a website that can be used to verify a filing.

Once than the above, it is highly unlikely that anyone will find out that you have filed for bankruptcy.  It is very probable that you personally know someone who has filed for bankruptcy.  It could be a neighbor, an uncle, a co-worker, or a friend.  Often times, people find out about a filing because someone they know tells them about their case and how much it has helped them to get their life back under control.

Under Chapter 7, there are state exemptions in North Carolina that list what you are allowed to keep.  For example, a single individual can keep a house with $18,500 worth of equity.  In addition to the equity issue, if you want to keep a secured item, you must be current on your payments when you file.  The lawyer will perform a complete property analysis regarding your assets.

Chaper 13 was designed to allow an individual to keep the property that they own.  If you qualify, our office will determine the payment that is necessary to allow the retention of all of your assets.