Archive for October 2019
A Bankruptcy Lawyer in Raleigh Explains Credit Counseling and Debtor Education Requirements
Bankruptcy filing has taken on a new phase, as Chapter 7 and Chapter 13 petitioners must now take two new classes during the process. Before filing, individuals are required to attend a credit counseling course. In addition, they must attend a personal financial management class before getting a discharge at the end of the course.…
Read MoreChapter 7 Bankruptcy Lawyers in Raleigh, NC Discuss Tax Returns
When individuals are facing a huge amount of debt, a tax refund is an extremely helpful start. In the case of bankruptcy filings, however, petitioners may or may not be able to keep their tax refunds depending on the situation and laws of the state. Chapter 7 bankruptcy lawyers in Raleigh, NC discuss how Chapter…
Read MoreUnderstanding the Chapter 7 Means Test with a Bankruptcy Lawyer in Raleigh, NC
The Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) changed the process of filing for Chapter 7 in 2005. Under this legislation, petitioners who have high incomes are prohibited from filing for Chapter 7 bankruptcy. A bankruptcy lawyer in Raleigh, NC discusses the “means test,” an exam that determines if a petitioner is qualified for…
Read MoreDocument Checklist: What Petitioners Need to File According to a Bankruptcy Lawyer in Raleigh, NC
Filing for bankruptcy involves completing a number of legally required procedures and submitting necessary financial statements. The court needs to get a clear idea of the petitioner’s debts, assets, and spending to determine eligibility for bankruptcy. To ensure a smooth filing process, debtors must gather all the necessary documents. Petitioners are advised to work closely…
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