Articles Tagged with Lake Norman

Published on:

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

A Chapter 7 bankruptcy that was filed in 2003 has finally ended 15 years later. The Great Northern Paper Co. filed for Chapter 7 bankruptcy in 2003 and Chief Judge Peter Cary of the United States Bankruptcy Court for the District of Maine has ordered that the proceeding be closed within 30 days, according to Bangor Daily News. The trustee submitted a certification that the assets of the estate were accounted for and requested that the court discharge the company from other debts and duties.

Published on:

Bankruptcy Lawyer Bryan W. Stone answers the question: “Can I get rid of student loans by declaring bankruptcy?”

In the United States, the cost of higher education is ever increasing. If you combine that with the difficulty of obtaining a reasonably salaried job after graduation, it is no surprise that student loan debt plagues graduates long after they graduate. An estimate of student loan debt currently owed in the U.S. is over $1.4 trillion dollars. Individuals with student loan debt may eventually fall prey to financial hardships. If an individual is struggling to pay bills and make ends meet, he or she may consider filing for bankruptcy. Student loan debt is often one of the largest debts a person can try to discharge in bankruptcy. However, it is extremely difficult for student loan debt to be discharged. There are specific and limited circumstances in which student loan debt will be discharged in a bankruptcy proceeding.

Published on:

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.

Published on:

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

Normally, arbitration comes up in the context of personal injury cases. A good example is one of the most common instances of arbitration language, which is in nursing home admittance paperwork. The nursing homes include language requiring arbitration, which shields the nursing home from the public, lengthy, expensive and uncertain courtroom litigation process and instead allows them much greater control by requiring all potential plaintiffs to bring their disputes before an arbitrator. This has come under attack in recent years, as many argue that arbitration clauses, especially arbitration clauses that restrict consumers, are unfair.

Published on:

Bankruptcy Lawyer Bryan W. Stone answers the question: “What are my alternatives to bankruptcy?”

We like to think that when someone takes the big step of filing for bankruptcy, they do so only when it’s absolutely necessary. The bankruptcy process was created to offer relief to individuals struggling with burdensome debt loads, not to be abused by those simply trying to stall creditors. Though the vast majority of those who file for bankruptcy protection do so as a last resort to avoid financial disaster, there are some who take advantage of aspects of the system for their own benefit.