Chapter 7
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 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 MoreDebunking Common Myths and Misconceptions about Bankruptcy with Lawyers in Raleigh, NC
Various myths and misconceptions have made debtors reluctant to file for bankruptcy. Most ended up with problems that they would not have encountered if they submitted a bankruptcy petition early. Through this post, you will learn about the process and gain proper knowledge about the situation with the help of bankruptcy lawyers in Raleigh, NC.…
Read MoreThe 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 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…
Read MoreWhat You Should Know Before Filing for Chapter 7 Bankruptcy in Raleigh
Chapter 7 bankruptcy refers to the liquidation of assets to discharge most of an individual’s unsecured debt, including credit cards and personal loans. Individuals who filed for Chapter 7 bankruptcy in Raleigh are able to keep most of their assets and regain control over their finances within three to four months. If you have consulted…
Read MoreHow to Handle Chapter 7 Bankruptcy in Raleigh with Grace
Filing for Chapter 7 bankruptcy in Raleigh could weigh down on you. Inviting more pain, however, can help you lose focus on the opportunity in front of you. To help you, we at Weik Law Office give you the best guidance on how to handle this difficult time with grace. Go out with trusted friends.…
Read MoreChapter 7 Bankruptcy in Raleigh: The Debts That Can Be Discharged
Filing for Chapter 7 bankruptcy in Raleigh gives you the chance to eliminate some or majority of your debt. But what exactly are the dischargeable debts covered by Chapter 7 bankruptcy? Here is a brief discussion to guide you. How a Discharge Works A discharge serves to protect the debtor by preventing the creditor from…
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