Bankruptcy attorney Ben Tobey answering the question: Will a bankruptcy filing stop a foreclosure?
For many Americans in today’s society, the process of making investments and building wealth is a smooth one. However, for countless others, unforeseen obstacles and life events lead one’s level of wealth to deteriorate. When an individual’s debts begin to substantially outweigh their assets, many begin to seriously consider filing for bankruptcy.
Bankruptcy attorney Ben Tobey answering the question: When is it better to file bankruptcy instead of working with my creditors to settle my debts?
Throughout recent history, the American perception around filing for bankruptcy is changing. While the decision to file for Chapter 7 or 13 bankruptcy is not one that should be taken lightly, the general stigma surrounding the decision is not as prevalent as it once was, and many Americans today understand that bankruptcy can be a strategic way to reorganize debt and give citizens a fresh start on their financial journey.
Bankruptcy attorney Ben Tobey answering the question: Can i transfer nonexempt property out of my name before filing bankruptcy to protect it?
Whether we like to admit it or not, we Americans live in a capitalist society. Our culture values wealth and property accumulation, and our nation’s financial sector has created multiple different tools and avenues to help citizens build wealth. While debt instruments such as credit cards and loans exist to help us grow our finances, if we are not responsible or fall victim to circumstances we may end up looking for an experienced bankruptcy attorney.
Bankruptcy Lawyer Bryan W. Stone answers the question: “What are my alternatives to bankruptcy?”
If you are deeply in debt and considering a bankruptcy filing, you may be worried about the cost of filing for bankruptcy. While bankruptcy may help you get relief from your debt, you need to make sure that you can afford the filing fees and court costs.
Bankruptcy Lawyer Bryan W. Stone answers the question: “What is the means test?”
Filing for bankruptcy is a difficult decision to make. However, you may not be eligible to file for bankruptcy at all in North Carolina if you do not pass the means test. Under the means test, if your monthly income is less than the median income in North Carolina, you are eligible to file for Chapter 7 bankruptcy.
Bankruptcy Lawyer Bryan W. Stone answers the question: “Does my spouse have to file bankruptcy if I do?”
Divorce and separation are common reasons why people file for bankruptcy, according to a 2019 study. Can one spouse file for bankruptcy without the other in North Carolina? Can you choose between a joint and individual bankruptcy filing if you are married?
Bankruptcy Lawyer Bryan W. Stone answers the question: “What are the pros and cons of bankruptcy?”
While the economy has recovered somewhat since the “Great Recession” and housing market crash of 2007, millions of Americans are still struggling to pay the bills. For starters, health care costs have drastically risen in the last decade as prescription medication and premiums seem to double in price every few years; fewer Americans own homes now than they did before the housing crash; and the median net worth of families today is just $97,300, which is 30% less than the average in 2007, which was $140,000, according to Vice News. If you are worried about your gloomy financial state of affairs, you should consider talking to an attorney about your best options for getting out of the hole in which you are currently stuck. Filing for bankruptcy could be the right move, or it could seriously jeopardize your future. A Charlotte bankruptcy attorney will be able to provide you with assistance today.
Bankruptcy Lawyer Bryan W. Stone answers the question: “Should I file bankruptcy?”
In any lawyer/client relationship, you have to feel comfortable with your representation. Bankruptcy is a stressful and complicated process. You should have no difficulty in asking your attorney questions, requesting explanations, and needing to go over your options during the course of your case. Strategy and filing deadlines are important in bankruptcy. For instance, the decision to file under Chapter 7 or Chapter 13 for individuals will determine the time-frame, which debts are discharged, and what kinds of property they will be able to keep.