Learn More About Bankruptcy

Do You Qualify for Bankruptcy?

Do you Qualify for Bankruptcy? 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 six months before filing your bankruptcy case and you do not meet any of exceptions that would excuse you from

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Bankruptcy and Retirement Accounts

You Don’t Lose Your Retirement Accounts in Bankruptcy 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 you are a state or municipal employee, those retirement benefits are exempt too.  This also applies to

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Bankruptcy And Judgments

Is it too late to file for bankruptcy if a creditor has obtained a judgment against you? For most bankruptcy filers, the answer is “No!” But if you can, don’t wait until a creditor obtains a final judgment. The quicker you act, the better. In North Carolina, if a judgment is obtained against you, it acts as a lien against any real estate you own. This is called a “judgment lien”. This can prevent you from selling your home without

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