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

Under the new bankruptcy laws, all Debtors must take a credit counseling course within 180 days before a case is filed with the Court. The credit counseling course can be taken on-line by computer or over the phone. On an average, it takes approximately 30-45 minutes. When a client comes into our office, we will give you a packet with the names of the credit counseling agencies that are approved in North Carolina. Once the course is completed, a credit counseling certificate is faxed to our office and is eventually filed with the Court.

When a debtor files for bankruptcy, the debtor must list the county for his or her primary place of residence. In North Carolina, there are three basic bankruptcy districts. The first district is called the Eastern District of North Carolina. The second is the Middle District of North Carolina and the third is the Western District of North Carolina. There are also different branches in each district. For example, the Middle District of North Carolina has a Durham Division and a Greensboro Division. When you come into the office and complete the questionnaire, our staff will determine the district in which you would file.

When an individual files for Chapter 13, there is a provision in the Bankruptcy Code that provides that the filing of a Chapter 13 not only stops any action to collect a debt from the debtor, but also stops any action to collect a debt from a co-signor who is listed on the petition. In order to fully protect the co-signor under the Chapter 13, the debt must be paid in full at the contract rate of interest. The payments; however, can often be extended and therefore the monthly payment to the creditor can be decreased.

In order to file for a bankruptcy case together, the Debtors must be married.

When an individual files for bankruptcy, they are given an option to reaffirm (keep) or surrender the secured debt that they have. If a house is surrendered, the deficiency on the house is discharged or eliminated in the bankruptcy.

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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