Articles Posted in Bankruptcy Effects

Bankruptcy Lawyer Bryan W. Stone answers the question: “How do I find a bankruptcy attorney in Charlotte?”

In times of financial distress, the automatic stay granted during bankruptcy can be a lifesaver. Debtors seeking relief from the stress of mounting bills should retain an experienced Charlotte consumer bankruptcy lawyer who can help guide them through the bankruptcy process.

Bankruptcy Lawyer Bryan W. Stone answers the question: “Does Bankruptcy stop foreclosure?”

Many people who are experiencing financial trouble have difficulty keeping up with many of their monthly obligations, including their mortgage payments. When a homeowner gets sufficiently behind on his or her mortgage, the mortgage lender may pursue foreclosure, which is the legal process through which a piece of real estate is repossessed. Once repossessed, the property is generally sold at auction so that the lender can mitigate the losses it has incurred. Fortunately for homeowners, there are often many ways in which filing for bankruptcy can help them keep their homes and lower their total monthly debt burden. For specific advice regarding your situation, call one of our highly experienced Charlotte bankruptcy attorneys today.

Bankruptcy Lawyer Bryan W. Stone answers the question: “What are the pros and cons of bankruptcy?”

Bankruptcy is an option for Americans to discharge their debts and set themselves up to have a better financial future. We live in a world in which a person’s credit history can dictate some important parts of their lives. Credit scores impact your ability to rent an apartment, buy a house, and even secure a credit card to have in the event of an emergency. Filing for bankruptcy will affect a person’s credit score; there is no way to avoid it. However, a misconception surrounding bankruptcy is that there is no way to rebuild credit after filing for bankruptcy or that the process takes too long. There are ways to rebuild your credit in an efficient and timely manner.

Bankruptcy Lawyer Bryan W. Stone answers the question: “What is Chapter 7 Bankruptcy?”

If you are considering filing for bankruptcy, chances are you’re in the midst of some serious financial difficulties. No one would consider going through such a process unless they were truly struggling to make ends meet. Those who are experiencing such financial problems likely have taken other steps to shore up their finances before ever getting to the stage of contemplating bankruptcy. That means they may already be receiving other financial assistance, in the form of housing vouchers, disability payments or food stamps. So what does filing bankruptcy do to these other sources of support?

Bankruptcy Lawyer Bryan W. Stone answers the question: “What are the pros and cons of bankruptcy?”

A recent article by Money Magazine walked through some of the most common myths associated with the bankruptcy process, exposing them as the fictions they really are. Though deciding to file bankruptcy can be difficult under the best of circumstances, it’s made unnecessarily harder due to commonly held misconceptions. These myths can intimidate and frighten people away from a process that might actually prove helpful, freeing them from mountains of burdensome debt. Now, let’s demystify some of these myths.

Bankruptcy Lawyer Bryan W. Stone answers the question: “Should I file bankruptcy?”

Something many people worry about when considering whether or not to file for bankruptcy is the potential impact the bankruptcy could have on their employment prospects. The reality is that some employers run credit checks and the fear is that this could reveal the bankruptcy and end up costing you a job. To find out more about how filing for bankruptcy can impact your employment prospects, keep reading.

Bankruptcy Lawyer Bryan W. Stone answers the question: “Should I file bankruptcy?”

You might be surprised to learn that some countries still have debtors’ prisons. In fact, the United Arab Emirates just announced that its cabinet has approved the final part of a plan to create a bankruptcy law for the country which will help abolish the threat of jail time related to unpaid debts.

Bankruptcy Lawyer Bryan W. Stone answers the question: “Can I buy a home after bankruptcy?”

If you are married you have gotten to experience firsthand how intertwined your life can be with another person. This is true on both a personal and financial level and (as any married person will attest) it can be both good and bad. If one person experiences a financial success, either a promotion or a bonus or makes some smart investment decisions, both will usually share in the reward. The same is also true for financial missteps, with both parties often suffering equally when financial disaster occurs. If you are married and experiencing financial stress and are considering filing for bankruptcy, you may assume that you and your partner must jointly file. However, you can consider bankruptcy on either a joint or individual basis. To find out more about filing bankruptcy while married, keep reading.

Bankruptcy Lawyer Bryan W. Stone answers the question “Are my 401k and IRA protected in bankruptcy?”

Deciding to file for bankruptcy protection is an important decision for anyone and requires careful consideration, as there are many factors at play. This is especially true for senior citizens who have some unique concerns and can be impacted in different ways than younger individuals with decades left to work and earn money. To learn more about bankruptcy and how it can impact senior citizens, keep reading.

Bankruptcy Lawyer Bryan Stone answers the question “How do I file for bankruptcy?”

Deciding to file for bankruptcy can be an incredibly hard decision-making process. You’re likely stressed about paying bills, worried by repeated calls from creditors and maybe even embarrassed about the difficult financial situation you find yourself in. Don’t be. Thousands of people file for bankruptcy each and every year and that doesn’t make them bad people, just people who have been dealt a bad hand and find themselves owing more than they’re taking in.