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Most people dream of a comfortable and financially secure retirement. For too many older Americans, however, financial struggles due to debt are now the reality. It is a source of high stress to a demographic that is already vulnerable to declining job opportunities, health issues, and isolation. If this is something you or your elderly…
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Filing for bankruptcy in Raleigh, NC is generally a last-resort option for those with insurmountable debt. Many people feel like bankruptcy is an admission of failure, but the truth is that it is a powerful tool for debtors to get their financial life back on track. For most debtors, deciding to file for bankruptcy is…
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Bankruptcy filing has taken on a new phase, as Chapter 7 and Chapter 13 petitioners must now take two new classes during the process. Before filing, individuals are required to attend a credit counseling course. In addition, they must attend a personal financial management class before getting a discharge at the end of the course.…
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When individuals are facing a huge amount of debt, a tax refund is an extremely helpful start. In the case of bankruptcy filings, however, petitioners may or may not be able to keep their tax refunds depending on the situation and laws of the state. Chapter 7 bankruptcy lawyers in Raleigh, NC discuss how Chapter…
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The Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) changed the process of filing for Chapter 7 in 2005. Under this legislation, petitioners who have high incomes are prohibited from filing for Chapter 7 bankruptcy. A bankruptcy lawyer in Raleigh, NC discusses the “means test,” an exam that determines if a petitioner is qualified for…
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