Articles Tagged with child support and bankruptcy

Charlotte Bankruptcy Lawyer Bryan W. Stone of Arnold & Smith, PLLC answers the question “What is Chapter 13 bankruptcy?”

Since the downturn in the housing market in recent years, there is an interesting trend that shows increasing numbers of people choosing to surrender their homes during Chapter 13 bankruptcy when they are not required to do so.  Like the depressed housing market, this trend does not show signs of going anywhere but is definitely outside traditional bankruptcy norms. However, for people considering bankruptcy in North Carolina and the few other “non-recourse” mortgage states, surrendering your primary home in bankruptcy can discharge you of the entire mortgage amount regardless of how much it goes for at foreclosure.

Charlotte Bankruptcy Lawyer Bryan W. Stone of Arnold & Smith, PLLC answers the question “Can I keep my house if I file bankruptcy?”

Most people assume that bankruptcy means a blank slate, a chance to start over fresh. While this is true with some categories of debt, it is important to note that a bankruptcy will not wipe away everything. Under the Bankruptcy Code, there are some categories of debt that are exempt form discharge, know as Section 523 exceptions. These exceptions apply to individuals filing Chapters 7, 11, 12 and, with some caveats, Chapter 13 bankruptcies. To find out more about the debts that you may never be able to fully escape, keep reading.