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Articles Tagged with North Carolina

Bankruptcy Lawyer Bryan W. Stone answers the question: “Can I get credit after filing personal bankruptcy?”

When a person files for bankruptcy protection one of the first things he or she must do is submit a list of assets and liabilities. The liabilities are obviously important because these are the debts that the petitioner is trying to get out from under. The assets, at least for the creditors and the bankruptcy trustee, are just as important. It’s the assets that can be sold and used to repay creditors and it’s crucial that the list be accurate and complete. In fact, the law requires debtors to list all assets and any failure to do so, assuming it’s deliberate, can result in serious criminal penalties.

Bankruptcy Lawyer Bryan W. Stone answers the question: “What is Chapter 11 Bankruptcy?”

When you think of the world of professional athletes and their net worth, the term “bankruptcy” is probably not one that comes to mind. Between the multi-million dollar salaries and lucrative endorsement deals, it is hard to imagine that someone raking in that kind of dough would be able to spend it all, let alone need to seek bankruptcy protection. So when NHL player Jack Johnson announced that he was filing for bankruptcy in 2014, claiming more than $10 million in debt, it stunned those within the hockey world. The lenders reported that interest from those loans had accrued his total amount owed to $21 million.

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

Erin Andrews was recently in the news for her successful lawsuit against her stalker and a Nashville hotel where a video of her undressing was secretly recorded through her room’s peep hole. Andrews, the famous sports personality, launched her legal claim in an attempt to hold those responsible for causing her harm financially accountable for their actions. When the judgment was handed down for a whopping $55 million, it was clear she had accomplished what she set out to do.

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

For would-be homeowners who are struggling to secure a loan, seller financing can be an alternate path to home ownership. It can seem like a no-brainer for individuals with spotty credit histories eager to have a house to call their own: monthly mortgage payments directly to the old owner in exchange for the keys to your new home! The bank is cut out as the middleman!

Bankruptcy Lawyer Bryan W. Stone answers the question: “Can I get credit after filing personal bankruptcy?”

If you pay much attention to the news you’ve likely heard about Donald Trump and his past financial problems. Though Trump claims he’s a billionaire many times over, his opponents enjoy pointing out his repeated financial distress. The claim from rivals is that the man has filed for bankruptcy four times before. The argument often made is that because he presided over so many bankruptcies of his own, he shouldn’t be trusted to watch out for the financial security of a country far larger and more complex than any of his businesses.

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

Most people see filing for bankruptcy protection as a chance to start clean and are often excited to finally begin putting their financial troubles behind them. Many people would assume that once the bankruptcy court accepts your petition and puts you on a path towards discharge, the hard work is behind you. Unfortunately, that is not always the case, especially for those filing for Chapter 13 bankruptcy protection.

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

A single mother with two young boys was only briefly able to imagine a future free of her crushing debt burden. Against all odds, the woman won her case before a bankruptcy court in Alabama. This victory, though short-lived, was a big accomplishment given how skeptical bankruptcy courts are when it comes to granting relief for student loan debt. Sadly, the educational lender appealed the decision and a district court reversed, meaning the single mother will again assume responsibility for her six figures in educational debt.

Bankruptcy Lawyer Bryan W. Stone answers the question: “What is the means test?”

A Clinton County, Illinois farmer whose bankruptcy fraud case became intertwined with a double murder in 2007 was released from prison this April to a prison-sanctioned halfway house.

Charlotte Bankruptcy Lawyer Bryan W. Stone of Arnold & Smith, PLLC answers the question “Does Bankruptcy stop foreclosure?”

At the time, investing in oil-and-gas giant Tri-Valley Corp. seemed like a good idea. Now the same investors who invested in the company are suing Tri-Valley after getting next-to-nothing out of the company’s bankruptcy, and have also sued the law firm that represented the company in its bankruptcy.

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

If you are a small business owner and someone owes you a lot of money, collecting the money—or a substantial portion of it—seems like a no-brainer.

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