The basics of debt settlement The formula for debt settlement is simple: hire a debt settlement company, stop paying your creditors, save up funds to use for settlement, then make offers with your creditors for pennies on the dollar. It sounds like a great alternative because it keeps you out of bankruptcy, but beware of the […]
About Todd Mosley
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Entries by Todd Mosley
If you are behind on your mortgage and facing foreclosure, bankruptcy may offer you relief. For most filers, the instant your bankruptcy case is filed, the automatic stay goes in to effect. Once your creditors are notified about your case, foreclosures and other collection activities by your creditors are halted. Filing Chapter 7 bankruptcy can […]
When a client comes to me seeking help to file bankruptcy, many times they have tried something else first. Whatever they tried didn’t work. It was also time, money, and headache that could have been avoided. Sometimes there are strategic reasons to wait to file bankruptcy. But usually, the sooner you file bankruptcy, the sooner […]
When you file bankruptcy, your exemptions determine what property you get to keep. There are federal exemptions and state-law exemptions. The exemptions you use depends on where you have lived for the past two years prior to filing bankruptcy and whether that state requires you to use its exemptions or permits you to use the […]
Odds are that you qualify for at least one of the bankruptcy chapters. Very few things will actually disqualify you from filing bankruptcy: If you have been in a bankruptcy in the past six months and your case was dismissed under limited circumstances If you failed to take an approved pre-bankruptcy credit counseling course within […]
You made responsible choices and contributed to a retirement account, and now that nest egg has grown significantly. Don’t worry about losing your retirement savings in bankruptcy, because it’s exempt. Under North Carolina exemptions, all IRS qualified retirement accounts (employer pensions, 401(k)’s, Traditional IRA’s, Roth IRA, etc.) can’t be touched by the bankruptcy court. If […]
I was sued on a credit card debt, I didn’t contest the lawsuit and the creditor obtained a judgment. Now they have judgment lien against my home. Is it too late to file for bankruptcy relief? For most bankruptcy filers, the answer is “No!” But if you can, don’t wait until a creditor obtains a […]
The strain of student loan debt is felt by many these days as the nation’s student loan debt total exceeds a trillion dollars – more than the nation’s credit card debt. Many wonder whether student loans debt can be eliminated or reduced through bankruptcy. Lenders typically have little risk of losing money on loans because […]
The vast majority of the people sued for a debt do not hire a lawyer, even though the credit card companies send experienced lawyers to court to represent them. These attorneys do not represent you and are not there to help you. You might try representing yourself but you are setting yourself up for failure. […]
A common myth is that you lose all of your belongings when you file bankruptcy. This is far from true. Your bankruptcy case can be structured so that you keep everything that you own by claiming various exemptions under North Carolina and federal laws. Were it not for exemptions, a bankruptcy trustee would take your […]
Mosley Law Firm, P.C.
Mosley Law Firm, P.C. is dedicated to helping individuals in Western North Carolina solve financial problems.
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