Posts by Steve Sampson
Navigating Bankruptcy With Your Spouse (Or Without Them) in Raleigh NC
Marriage often means shared finances – and shared debt. So what happens when one spouse files for bankruptcy but the other doesn’t? This situation brings up many questions around how bankruptcy works for married couples in Raleigh, NC. The first key fact to know is that bankruptcy laws don’t require married couples to file together.…
Read MoreCan I Keep Saving for Retirement If I File for Bankruptcy in Raleigh NC?
Filing bankruptcy can provide meaningful financial relief when you’re facing burdensome, unpayable debt. But it also requires disclosing your assets to the courts – which makes some filers worry about legal impacts if they continue saving for retirement. The good news is that under most circumstances, you can and should continue contributing towards retirement during…
Read MoreDivorce and Filing for Chapter 13 or 7 Bankruptcy in Raleigh
Divorce is emotionally draining and financially taxing, especially when you’re dealing with crushing debt at the same time. If this applies to you, you might be wondering if filing for either Chapter 7 or Chapter 13 bankruptcy in Raleigh can help. The answer is yes, but it’s important to understand how the two processes can…
Read MoreYour Retirement Funds in Chapter 13 Bankruptcy
If you’re considering filing for Chapter 13 bankruptcy in Raleigh, one of your main concerns may be protecting your retirement funds. After all, it’s likely the largest asset you have and in some cases, the sole source of income in your senior years. The good news is that your retirement plan is generally safe from…
Read MoreHow Cramdowns Work for Chapter 13 Bankruptcy in Raleigh
If you’re struggling with debt and considering filing for Chapter 13 bankruptcy in Raleigh, NC, you may feel overwhelmed and uncertain about your options. It’s natural to worry that your debt is too big to handle, especially if you’re unfamiliar with the bankruptcy process. As your bankruptcy lawyer in Raleigh, Attorney Weik can help you…
Read MorePotential to Keep Property by Reaffirming Debt | Chapter 7 Bankruptcy in Raleigh
The thought of losing your property after filing for bankruptcy can be heartbreaking. Fortunately, Chapter 7 bankruptcy in Raleigh, NC has several tools that can help you keep some of your most important assets. One of these is reaffirming debt. Reaffirming Debt in Chapter 7 Essentially, Chapter 7 bankruptcy gets rid of debt by discharging…
Read MoreWhat Happens to Your Savings Accounts if You File for Chapter 13 Bankruptcy in Raleigh, NC?
In general, you don’t have to worry about your savings and checking accounts if you file for Chapter 13 bankruptcy in Raleigh, NC. You can even open new bank accounts as long as the court approves it. You can even have your Chapter 13 payments deducted automatically from your bank account to make the process…
Read MoreWho Will Know I Filed for Bankruptcy in Raleigh, NC?
Nearly 1.5 million Americans file for bankruptcy every year. Even the world’s wealthiest and most powerful are not immune to financial trouble. Walt Disney, Toni Braxton, Mike Tyson, Larry King, money gurus like Dave Ramsey… the list goes on. Still, we understand that the decision to file for bankruptcy is not an easy one. You…
Read MoreHospital Debt Due to COVID-19: Can Chapter 7 Bankruptcy in Raleigh Help?
Many Raleigh residents suffered tremendous loss due to COVID-19. Thousands lost their jobs, businesses closed, and even more faced costly medical bills from the virus. If you’re struggling to pay off hospital debt from COVID-19, you might be wondering if Chapter 7 bankruptcy can help. The answer is yes, filing for Chapter 7 bankruptcy in…
Read MoreWhat is a No-Asset Case Under Chapter 7 Bankruptcy in Raleigh?
In a no-asset Chapter 7 bankruptcy case in Raleigh, all of your property is considered exempt. This means that you won’t lose your assets even if creditors file claims against you. North Carolina has its own set of property exemptions, but some common examples are: home equity covering a certain value equity in one motor…
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