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What Are Your Obligations Under Chapter 13 Bankruptcy in Raleigh?
Chapter 13 Bankruptcy in Raleigh will repay you to make monthly payments to the bankruptcy trustee. In turn, the bankruptcy trustee will pay your creditors on your behalf. In order to complete your plan, you need to make all of your payments. You get all remaining debts discharged once your Chapter 13 bankruptcy repayment plan…
Read MoreTop 4 Means Test Mistakes Under Chapter 7 Bankruptcy in Raleigh
The bankruptcy means test is the starting point of filing for Chapter 7 bankruptcy in Raleigh. It determines whether you’re eligible for this type of debt relief. For instance, the first step will require you to submit several months’ worth of income statements, which will then be compared with the median income in North Carolina.…
Read MoreCredit Card Debt and Bankruptcy in Raleigh
Drowning in credit card debt? You’re not alone. In fact, it’s one of the most common reasons why people finally decide to file for bankruptcy in Raleigh. The massive interests alone can keep you in a vicious cycle of minimum payments and ever-growing debt. A question we get asked a lot here at Weik Law…
Read MoreCan You Keep Tax Returns Under Chapter 7 or Chapter 13 Bankruptcy in Raleigh?
Tax refunds can be a liferaft in a sea of debt. It can help you pay rent, keep the lights on, and get something to eat before the bills catch up with you again. If you’re thinking about filing for Chapter 7 or Chapter 13 bankruptcy in Raleigh, you may be wondering if you can…
Read MoreDo You Still Have to Pay Child Support If You File for Chapter 13 Bankruptcy in Raleigh?
The answer is yes, but it’s more complicated than that. While filing for Chapter 13 bankruptcy in Raleigh won’t wipe out your child support obligations, it will help you get caught up with payments. As a result, you can continue taking care of your child while you get back on your feet financially. Child Support…
Read MoreCan Filing for Bankruptcy in Raleigh Wipe Out Student Loans?
Over 45 million Americans are drowning in student loan debts. When you’re trying to keep the lights on, pay rent, and juggle your other expenses, student loan payments (and their usually high interest rates) can be truly overwhelming. If you’re currently paying off your student loans and planning to file for bankruptcy in Raleigh, you…
Read MoreWhat Happens If You Have No Assets When You File for Chapter 7 Bankruptcy in Raleigh?
Individuals who file for Chapter 7 bankruptcy in Raleigh generally have very few or no assets. If this applies to you, you may be wondering how this will affect your filing. One of the first things we do here at Weik Law Office is to guide our clients through the means test. This test will…
Read MoreCan Chapter 7 Bankruptcy in Raleigh Stop Utilities from Being Shut Off?
Americans are still feeling the devastating effects of COVID-19. Like many people, you may be drowning in debt after losing your job, dealing with health emergencies, and other financial issues made worse by the pandemic. Right now, you may be thinking of filing for Chapter 7 bankruptcy in Raleigh for relief. Chapter 7 can help…
Read MoreWhen Is Filing for Chapter 13 Bankruptcy in Raleigh Better than Chapter 7?
Many people think that Chapter 7 bankruptcy is better than Chapter 13 because it completely wipes out qualifying debt while the latter requires a repayment plan. However, it’s not that simple. Each chapter has unique tools that solve specific problems for debtors. If you’d like to save your home from foreclosure, for instance, you’re better…
Read MoreDivorce, Alimony, and Raleigh Bankruptcy: What you Need to Know
Filing for bankruptcy in Raleigh is a major decision with significant effects on your financial and personal affairs. It triggers the automatic stay, which goes a long way towards restoring your peace of mind. You receive more affordable payment plans and have certain debts eliminated altogether. For many people, it’s quite literally a new lease…
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