As an Asheville bankruptcy lawyer, I advise consumers to protect the things they own by using their available exemptions. In over 95 percent of the Chapter 7 bankruptcy cases filed in Western North Carolina, all of the property a consumer owns fits within the North Carolina or Federal Bankruptcy exemptions. Consumers get to keep all…
As an Asheville bankruptcy attorney, I sit down with potential clients who give various reasons for why they had waited for a long time before sitting down with me to discuss their financial situation and relief options. One common explanation I’ve heard many times is that “I would have called you last year, and have…
Frequently, all of it. The same North Carolina exemptions which protect certain property in a bankruptcy filing also protect a consumer’s property if they never file a bankruptcy case. This renders many consumers “judgment proof,” meaning that the judgment creditor may not seize their property and sell it in order to pay off the debt. …
Probably not. During initial consultations, I usually ask clients to tell me about what debts they owe so we can create a plan to deal with them efficiently. Many clients tell me about some of their debts, and then explain that the rest of their debts have been “charged-off.” A “charge-off” usually means the original…
In my Asheville bankruptcy law office, I have seen many consumers, young and old, approach me about problems associated with their private student loans. Most folks already recognize that discharging those loans in a bankruptcy case can be problematic. Still, for consumers operating on a limited budget, the only payback options on their private student…
Getting served with a collection lawsuit can be intimidating. But even after a consumer gets served, they still have rights under the law. A lawsuit is a shocking and stressful indication that you should quickly determine your best course of action by seeking the advice of a qualified professional. As an Asheville bankruptcy lawyer, I…
During initial bankruptcy consultations, I make a point to discuss the theory of bankruptcy with potential clients so they understand what relief they are getting and at what price. The bankruptcy court provides debt relief, asset protection and a second chance at financial success in exchange for completely and honestly disclosing details of your financial…
When financial trouble hits, consumers will do almost anything to make ends meet. Cashing out retirement accounts is common if a family falls behind on bills. I’ve seen this strategy being used time and time again as a bankruptcy lawyer serving Western North Carolina. It makes sense for consumers to consider all of their alternatives,…
As an Asheville bankruptcy lawyer, one of my primary functions is to help potential clients focus on their best financial options in order to speed up a recovery. One of the options I commonly discuss at first client meetings is protecting assets by utilizing exemptions without using bankruptcy. Unfortunately, this asset protection strategy is under…
North Carolina has long balanced a creditor’s need to get paid with a consumer’s right to protect a limited amount of property from seizure by a creditor. State law currently prohibits wage garnishment or the seizure of the previous 60 days of wages from consumers when it can be shown that those earnings are “necessary…