Chapter 13
Can 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 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 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 MoreHow Employment Affects Your Application for Chapter 7 or Chapter 13 Bankruptcy in Raleigh
Filing for Chapter 7 or Chapter 13 bankruptcy in Raleigh is a big step toward getting your finances under control. It can be a smart financial decision for many individuals who have been recently unemployed or are facing overwhelming debt. However, various factors must be considered in the direction of your bankruptcy filing, including your…
Read MoreIs it Time to File for Chapter 13 Bankruptcy in Raleigh?
Declaring Chapter 7 or Chapter 13 bankruptcy in Raleigh is never an easy decision. Bankruptcy laws exist precisely because financial disasters can happen to anyone. The cause may vary — an unexpected medical emergency, credit card debt, a business going under, and more — but bankruptcy laws are designed to give people a second chance…
Read MoreWhat to Know and Expect When Filing For Chapter 13 Bankruptcy in Raleigh
If you are high on debt, you can apply for Chapter 13 bankruptcy in Raleigh, depending on your situation. While Chapter 7 bankruptcy is a more common option to eliminate debt, Chapter 13 is just as effective in developing a plan to repay all of your debts. Chapter 13 Bankruptcy Also known as the “Wage…
Read MoreFiling for Bankruptcy in Raleigh: The Basics
Some people stay in debt because they are either too afraid to make a move or they are not aware of the legal options they can take. For many people, filing for bankruptcy in Raleigh is the best option to deal with the trouble of paying off personal loans or saving a house that is about…
Read MoreLong-Term Financial Benefits of Chapter 13 Bankruptcy in Raleigh
At the most basic level, Chapter 13 bankruptcy in Raleigh involves a payment plan that you will undertake for three to five years, depending on your situation. Some people get discouraged due to the length of the plan, and this can make Chapter 7 a more appealing alternative. However, many unique advantages to filing for…
Read MoreWhat to Do If You Can’t Keep Up with Your Chapter 13 Bankruptcy Repayment Plan
A typical Chapter 13 bankruptcy case may last anywhere from three to five years. A lot can happen during that time, and you may find yourself defaulting or no longer able to keep up with the originally agreed to repayment plan. Some common reasons for this may include increased expenses, emergencies or illness. Fortunately, you…
Read MoreWhat is the difference between Chapter 7 and Chapter 13?
Our website offers a detailed section on this exact question. Please go to the home page and click on “Types of Relief”. Basically, a Chapter 7 is designed to allow you to wipe-out or eliminate your unsecured bills, such as credit cards, hospital bills, and personal loans. There are certain types of debt that can’t…
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