Articles Tagged with Federal bankruptcy code

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

The U.S. Supreme Court issued an important decision late last month regarding the ability of some creditors to try and claw back money owed to them by corporations that end up going broke. The ruling overturns a defense used by many companies to shield certain payments made prior to the bankruptcy from being subject to claims by creditors. The decision is important going forward as it is expected to have a significant impact on cases involving complicated financial transfers that had previously been protected from careful scrutiny or claw back by bankruptcy trustees. To learn more about the recent case, keep reading.

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

An interesting article recently published by Forbes magazine sent out a necessary reminder to its readers: your tax bill probably isn’t going anywhere, even if you file for bankruptcy.

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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.