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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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Filing for bankruptcy involves completing a number of legally required procedures and submitting necessary financial statements. The court needs to get a clear idea of the petitioner’s debts, assets, and spending to determine eligibility for bankruptcy. To ensure a smooth filing process, debtors must gather all the necessary documents. Petitioners are advised to work closely…
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Various myths and misconceptions have made debtors reluctant to file for bankruptcy. Most ended up with problems that they would not have encountered if they submitted a bankruptcy petition early. Through this post, you will learn about the process and gain proper knowledge about the situation with the help of bankruptcy lawyers in Raleigh, NC.…
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Upon filing for a Raleigh bankruptcy, an automatic stay takes effect. This stops any lawsuit that is filed by a creditor or anyone seeking money against the debtor. It is an effective tool if one is behind on child support payments, facing eviction, or in trouble with the utilities. What an Automatic Stay Can Stop…
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