Articles Posted in Chapter 13 Bankruptcy

Bankruptcy Lawyer Bryan W. Stone answers the question: “What is Chapter 13 bankruptcy?”

Do not panic just because you receive a foreclosure notice. This does not mean the bank can take your house tomorrow. Most people will do whatever it takes to save their home. Depending on how far behind a homeowner falls in mortgage payments, foreclosure can be a scary process. Negotiating with the bank only works if you have money to restructure payments or modify your loan completely. However, if working out a plan like this is not an option, eventually the lender will move your account to a foreclosure status and proceed with the repossession of your home through a legal sale. Understanding your options during the foreclosure process requires the help of a skilled attorney. A Chapter 13 bankruptcy filing provides legal protection that can be leveraged in such situations.

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: “Do I need an attorney to file bankruptcy?”

If you’re considering filing for bankruptcy you likely have a number of questions running through your head. Unfortunately, the process is often seen as opaque and this lack of clarity can scare people off who might really stand to benefit. In the interest of full disclosure, lets spend a few moments walking through some common questions about the limits of bankruptcy.

Bankruptcy Lawyer Bryan W. Stone answers the question: “Can I keep my car if I file bankruptcy?”

If you’re in the midst of tough financial times, it isn’t surprising that you might have to consider alternative ways of raising money. Though you may never have thought about pawning your property before, if you have bills that need to be paid it might be one of your only options. Once the item has been pawned you might not think much about it, but a recent bankruptcy case out of Georgia indicates that might not be the end of the story, especially if you want to try and get that property back.

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

For many people and businesses, deciding whether or not to file for bankruptcy protection is the pinnacle of their financial woes. Carefully weighing the pros and cons of this decision is something to which we have dedicated many a line of text on this blog.

Bankruptcy Lawyer Bryan W. Stone answers the question: “Can I keep my house if I file bankruptcy?”

Thanks to the concepts of equity and the Homestead Exemption, keeping your home during and after a bankruptcy is not only possible, but a popular option for individuals who file for bankruptcy protection. However, if you choose to stay in your home after bankruptcy it is important to understand the concept of reaffirming a mortgage and its pros and cons. Your mortgage lender will almost certainly ask you to reaffirm, and having a grip on what reaffirming is, its pros and cons, and what it ultimately means for you can better inform your decision.

Bankruptcy Lawyer Bryan W. Stone answers the question: “What is Chapter 13 bankruptcy?”

If you’re considering filing for bankruptcy one of things you’re likely concerned about is the impact filing can have on your credit report and thus on your financial future. Filing now may be the right thing to do, but you also likely have plans for down the road that you don’t want to see go up in flames thanks to the bankruptcy. Some are curious to know whether one type of bankruptcy is better for your future credit score than another. To learn more, keep reading.

Bankruptcy Lawyer Bryan W. Stone answers the question: “Do I need an attorney to file bankruptcy?”

A recent article in the Milwaukee Journal Sentinel discussed a strategy used by some landlords in the city to avoid paying fines: repeatedly filing for bankruptcy protection. The practice is used by those landlords who the city is trying to come after for providing substandard housing to tenants. By filing for bankruptcy protection, the landlords avoid paying mounting fines and are able to shield their property from being seized by the authorities. The article focused on the actions of one landlord who is an especially egregious abuser of the bankruptcy system.

Bankruptcy Lawyer Bryan W. Stone answers the question: “What is a small business bankruptcy ?”

No, the top executives for the bankrupted Sports Authority do not have the authority to give themselves $2.85 million in bonuses, the company’s U.S. bankruptcy judge has ruled.

Bankruptcy Lawyer Bryan W. Stone answers the question: “What are North Carolina’s exemptions?”

Bankruptcy is a good thing for most people who choose to pursue it. By the time they consider filing they are typically in a tough financial spot, with mounting debt and not enough income to go around. Though bankruptcy is an excellent opportunity for a fresh start, there are certainly costs. Beyond the actual expense of filing and the harm that filing can do to your credit, bankruptcy can also mean the loss of property. To find out more about what happens to your property when filing for bankruptcy, keep reading.