Posts by Steve Sampson
The Automatic Stay: A Protection from Creditors During Raleigh Bankruptcy
Upon filing for a Raleigh bankruptcy, an automatic stay takes effect. This stops any lawsuit that is filed by a creditor or anyone seeking money against the debtor. It is an effective tool if one is behind on child support payments, facing eviction, or in trouble with the utilities. What an Automatic Stay Can Stop…
Read MoreBankruptcy Lawyers in Raleigh, NC on Chapter 7 Requirements and Considerations
Individuals struggling with debt have an option to file for either Chapter 7 or Chapter 13 bankruptcy. A Chapter 7 bankruptcy allows debtors to wipe the slate clean and start over with no outstanding debts. Under the law, a debtor must qualify for Chapter 7 bankruptcy by meeting certain criteria. Eligibility for this type of…
Read MoreQualifying for Chapter 13 Bankruptcy in Raleigh, NC
A Chapter 13 bankruptcy in Raleigh, NC, also known as the Wage Earner Plan, is an excellent option for debtors who want to pay off their debt without accumulating further interest from dischargeable debts. It allows individuals to get their finances in order through a repayment plan under the protection of a federal court. Debtors…
Read MoreCommon Mistakes to Avoid Before Filing for Raleigh Bankruptcy
The period between deciding and actually filing for Raleigh bankruptcy is when most debtors are vulnerable to their creditors. During financial stress, it can be tempting to take all measures to alleviate the pressure. However, it is important that the debtor handles these financial issues carefully with a bankruptcy attorney to avoid major complications upon…
Read MoreHow Filing for Chapter 7 or Chapter 13 Bankruptcy in Raleigh Affects Mortgage
Declaring bankruptcy in Raleigh affects mortgage in a myriad of ways. A mortgage is a legal agreement wherein a debtor surrenders the title of their property to a creditor to borrow money at interest. Like other types of loans, mortgages are subject to late charges and other fees. Homeowners who take out a mortgage are…
Read MoreChapter 7 Bankruptcy Lawyers in Raleigh, NC Discuss Various Considerations when Filing for Bankruptcy and Divorce
Finding the right timing is critical when filing for divorce and bankruptcy. Depending on your situation, Chapter 7 bankruptcy lawyers in Raleigh, NC will be able to advise you whether it is best to file before or after starting divorce proceedings, and what this can mean for your finances. How Bankruptcy Affects Divorce Generally, bankruptcy…
Read MoreRebuilding One’s Credit Score After Filing for Raleigh Bankruptcy Understanding Your Credit Score
A credit score is a summary of your credit history. Combined with the credit report, lenders use this number to decide whether to approve housing loans, auto loans, and other types of loans. Your score can also affect your insurance rates and employment opportunities. The most common type of credit score is the FICO score,…
Read MoreFederal and State Exemptions under Chapter 13 Bankruptcy in Raleigh
Bankruptcy procedures are controlled by complex federal laws and regulations including bankruptcy exemptions. These are laws that allow debtors to protect certain properties from creditors. In Chapter 13 bankruptcy in Raleigh, exemptions help determine the amount the debtor must pay to his unsecured creditors through a 3-5 year repayment plan. Under this chapter, an exemption…
Read MoreWhat Happens After Filing for Chapter 7 with a Bankruptcy Lawyer in Raleigh, NC
Filing for Chapter 7 with a bankruptcy lawyer in Raleigh, NC can give you a fresh start and help get rid of your unsecured debts. In this article, we’ll discuss the important issues after Chapter 7, and the ways you can regain financial control and rebuild your standing. Duration of Chapter 7 Bankruptcy The Chapter…
Read MoreRegain Financial Control with the Help of Chapter 7 Bankruptcy Lawyers in Raleigh, NC
Bankruptcy falls under federal law. Therefore, some laws and procedures under Chapter 13 and Chapter 7 are nearly identical for all states. However, there are also notable differences especially when it comes to the law enactment. Your Chapter 7 bankruptcy lawyers in Raleigh, NC explain everything you need to know about filing for bankruptcy in…
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