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Advantages and Disadvantages of Wilmington Bankruptcy

Advantage

Pros and cons of Wilmington bankruptcy

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The decision of whether or not to file Wilmington bankruptcy is not the easiest. It usually comes after years of debt stress, increasingly frustrating financial circumstances, and harassment from debt collectors. Although filing bankruptcy means acknowledging that you’re unable to pay your debts, it is a game-changer that can give you peace of mind and a brighter financial future.

Greensboro Consumer Tip: Beware Tax ID Fraud – File Your Return Early To Reduce Risk

Income taxes

Beware Greensboro tax fraud

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As a Greensboro resident, you should have received your W2s and other tax documents by now, so you have all the info you need to prepare your 2017 income tax return. Of course, it’s not officially due until April 17, 2018, but you shouldn’t wait to file. The longer you delay, the higher your risk of tax ID fraud. Identity thieves that specialize in tax identity fraud are out in force and already busy filing bogus tax returns so that they can steal tax refunds. Don’t fall prey to this scam. Here’s what you need to know and how to protect yourself.

9 Celebrity Bankruptcy Cases That May Stun You

Fame

Fame is no barrier to financial problems

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Bankruptcy doesn’t just affect the average Joe - it can strike even the rich and famous. You might assume that celebrities are set for life once they step into the spotlight. For some, it does happen that way but, for others, it’s a different story. If you’re a Wilmington consumer saddled with debt and considering bankruptcy, here's a look at some celebrity bankruptcies to help you see that a financial crisis can happen to anyone, no matter how glittery or fabulous their life might seem.

Student Loan Help For Veterans And Disabled - New Programs Offer Tax-Free Debt Relief

Disabled veteran

Student loan help for veterans and the disabled is now tax-free

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With student loans continuing to rise and federal college debt having no statute of limitations, this is debt that can follow you the rest of your life. Student loan debt collectors can garnish your Social Security and take your income tax refunds for the rest of your life until the debt is satisfied. If you can’t afford your student loans, the stress can be overwhelming. If you qualify for a program to reduce or discharge your student loans, it can be life-changing.

Slash Your Credit Card Debt – Wilmington Consumer Tips

Credit card debt

Credit card debt stressing you out?

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Credit card debt can grow out of control quicker than you realize. Most Wilmington consumers start out swiping their cards and paying off the balances at the end of the month. Then an unexpected expense crops up or your paycheck is smaller than usual, and you carry over a balance. From there, things can snowball, and you may discover you’re going to be in some real trouble if you don’t do something about it.

Bankruptcy Study Reveals Why Some Greensboro Debtors Choose Chapter 13 When Chapter 7 Is Preferable

Cost

Greensboro bankruptcy choice often comes down to cost

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For Greensboro consumers trapped in an inescapable debt spiral, life can be stressful. Living paycheck to paycheck, dodging debt collector calls, and constantly worrying because you can’t pay what you owe (let alone build a nest egg) can destroy your quality of life. Bankruptcy is one possible solution, but often, consumers don’t choose the best plan for them. A recent study examined why consumers choose Chapter 13 when Chapter 7 is a much more preferable alternative.

3 Reasons It Might Be Time to Consider Wilmington Business Bankruptcy

Small business

Is your Wilmington small business struggling?

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As a business owner, bankruptcy is the least likely outcome you wanted when you started up your company. Everyone hopes for success but the odds of hitting it big with your first venture are slim. Most self-made millionaires, according to Business Insider, struggle for 32 years (on average) before achieving seven-figure success. Not only that, but most success stories have a path of failure behind them with many filing bankruptcies and closing their first, second, or even third businesses before they finally get it right and achieve success. If your business is struggling, it could be a sign that it’s time to evolve and move to the next phase of your entrepreneurial journey. Wilmington bankruptcy can help.

Abby Lee Miller To Be Released Early From Prison After Bankruptcy Fraud Sentence

Dance Moms

Dance Moms star Abby Lee Miller out of prison soon

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Reality star Abby Lee Miller is almost done serving time for her 2017 bankruptcy fraud conviction. The Dance Moms phenom pled guilty in 2016 to a litany of charges related to a years-old Chapter 11 case and was convicted and sentenced last year. The 51-year old has reportedly been bettering herself while behind bars by losing 100 pounds and pursuing professional certification in advance of her release this Spring.

7 Things to Avoid Doing Before Wilmington Bankruptcy

Stop doing this before bankruptcy

Stop doing these things before Wilmington bankruptcy

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For those in Wilmington drowning in debt, bankruptcy might be the best option for you. However, even if filing Chapter 7 or Chapter 13 is a fit solution for your financial problems, there are missteps that could prevent you from getting optimal results. Here’s a look at seven things to avoid if you’re considering filing bankruptcy.

Your Spouse Filed For Greensboro Bankruptcy, What Does That Mean For You?

Husband and wife

Til debt do you part

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As partners, you and your spouse do many things together – you live, you laugh, you love – and you accrue debt. In the past, couples typically got into debt together with every loan and asset in the name of both spouses or only in the name of the primary breadwinner. But with both partners typically now working, people primarily carry individual debt rather than joint debt, aside from a mortgage. When your spouse falls behind on bills and files Greensboro bankruptcy, how will it affect you and your marriage?

Is Wilmington Bankruptcy The Right Path For You? It Depends On Your Dischargeable Debt

Right path

Is Wilmington bankruptcy the right path for you?

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Being stuck with unmanageable debt is a situation most of us would rather not experience, but sometimes it’s unavoidable and creeps up on you. Dealing with a debt cycle can be stressful, but Wilmington bankruptcy is a possible solution. Bankruptcy isn’t a fit for every circumstance and whether it might benefit you depends on whether your debt is dischargeable.

Only Hire A Bankruptcy Expert for Your Case - 7 Things to Look For In a Lawyer

Lawyer

Choose your bankruptcy lawyer wisely

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When you’re so deep in debt that bankruptcy is the only way out of your financial mess, you should know that not every bankruptcy case is the same and not every lawyer is a fit for you. Depending on your choice of North Carolina bankruptcy attorney, your results may vary. It’s important to choose someone to rep you who will get you the best results. Check out these seven tips to find the best bankruptcy lawyer for your needs.

Small Business Bankruptcy Options For Struggling Wilmington Entrepreneurs

Business closing

Is your Wilmington small business in danger due to debt?

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It takes a lot to be a Wilmington small business owner. You must have the courage to branch out on your own rather than take a paycheck from someone. That leaves you with all the responsibility. The more your business grows, so will the pressure as you take on greater expenses, increase your staff, and likely take on debt. If you hit a speedbump and can’t service your business debt, you need a solution. In some cases, bankruptcy might be just the thing to help you out of your business crisis.

3 Really Good Reasons to File Wilmington Bankruptcy

Debt stress

Is your debt too much? Reasons to consider Wilmington bankruptcy

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Financial trouble can be a sneaky thing. One day you think you’re doing okay, then you realize there’s cause for some concern, and then before you know it, you’re really deep in debt and aren’t sure what to do to get out of your dire situation. Filing for Wilmington bankruptcy is one way to deal with debt you can’t afford. Bankruptcy offers the chance at a fresh financial start, but it’s not a fit for every situation and not something you should rush into without thought, planning, and consulting a reputable bankruptcy attorney.

Greensboro Bankruptcy Chapter 7 Presumption of Abuse – What Is It And How Do You Overcome It?

Overcome

You can overcome obstacles to Greensboro bankruptcy

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Some of the legal language surrounding Greensboro bankruptcy can be intimidating. Deciding to file bankruptcy to deal with your debt is a major step, and it’s best to understand your options and how the process can benefit you. It’s also important to understand the terminology. One important legal tenet to understand is the “Presumption of Abuse.” This is associated with Chapter 7 bankruptcy and might impact your case. Here is what you need to know.

Struggling With Student Loans In Wilmington? North Carolina Has Higher Than Average Default Rates

College

Wilmington student loans out of control?

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Student loan debt is on the rise in Wilmington and the rest of the state. Individual student loan borrowing continues to trend upward but there also good news. Overall, US educational debt default rates are dropping, but in North Carolina, it’s still a concern because delinquency rates here are higher than average. Here’s a look at the latest student loan news and what you can do about your college debt if you’re struggling to pay your loans.

5 Ways To Shut Down a Creditor Trying to Sue You – Wilmington Consumer Tips

Court

Facing a debt lawsuit? Wilmington consumers tips

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Struggling with debt is no one’s idea of fun. It’s bad enough if you’re living paycheck to paycheck while scrambling to pay bills but when debt collectors are in the mix, it can ruin your quality of life. Debt collection harassment can be brutal, and some break the law by making threats of arrest and other outrageous claims. One thing that collectors can do is sue you if you’re delinquent – but there are some things you can do if a creditor is suing you – check out these Wilmington consumer tips.

Can Greensboro Bankruptcy Affect Your Children?

Kids

Will your Greensboro bankruptcy affect your kids?

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When you’re considering bankruptcy, one of the things you may wonder is how it might affect your spouse, children, friends, and family. Ideally, Greensboro bankruptcy isn’t something that you likely want people to know about, and although it is a matter of public record, people usually won’t know unless you tell them.

When Is Chapter 13 Better than Chapter 7 For Wilmington Bankruptcy?

Choices

When is Chapter 13 better than Chapter 7?

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There are two types of Wilmington bankruptcy for consumers - Chapter 7 and Chapter 13. With Chapter 7 bankruptcy, it usually takes two to four months to complete, and when you’re done, most of your unsecured debts are discharged, with a few notable exceptions. On the other hand, a Chapter 13 bankruptcy lasts three to five years and sets you up on a repayment plan to catch up your mortgage and auto loan while also lowering unsecured debt.

How Much Unsecured Debt Is Too Much? One Year’s Income

Debt

How much debt can you afford?

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Consumer debt is growing now like we haven’t seen since just before the Great Recession. Credit card household debt just topped $905 billion which is an 8% increase over the previous year. This is considered unsecured debt because it isn’t tied to collateral. There seem to be no signs of stopping this trend and North Carolina households with debt now owe an average of $131,431 including a mortgage. If you can afford the debt you’ve accrued, that’s okay. But if not, you might be facing a financial crisis in your future. Here’s a look at how much unsecured debt is too much and what to do if you’re drowning in bills you can’t pay.

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