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10 Tips for Buying a Car After Chapter 7 Bankruptcy

Used car

Yes, you can buy a car after bankruptcy

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Chapter 7 bankruptcy is a means to get significant debt relief but after you get your discharge, it’s time to get busy rebuilding your credit and ensuring you make the most of your fresh start. One of the first major purchases you’ll likely consider in the months or years post-bankruptcy is a vehicle. Some people come out of bankruptcy worried they’ll never be able to get credit again, never be able to buy a home or get a car loan – but nothing can be further from the truth. Today we take a look at the steps to buy a car after your Chapter 7 bankruptcy discharge.

Looking for Work in Greensboro? Top 10 Best Paying Jobs in the Triad Area

Thinking about the future

Thinking about your future? Consider these careers

Image Source: Flickr User Bill Strain

If you’re struggling to find a job, stuck in a low-earning field, or work in an industry that’s dying out, you may want to rethink your career prospects. Some of these jobs may require additional training, finishing your degree, an internship, or entry-level position to gain the experience you need, but these are growing fields that see workers raking in the big bucks. Here are the 10 best-paying jobs in Greensboro, what education/experience you need to get into the field and info on how to get started.

Consumer Alert: Beware the Job Interview Scam

Online job interview

Beware the online job interview scam

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Scams tend to prey on those who can least afford it – those living on a fixed income, those already in debt, seniors, and those earning low to middle-income wages. The scam we’re warning about in today’s consumer alert preys on another consumer segment that cannot afford to be defrauded of their money – those who are unemployed and seeking a job. Here’s how the online job interview scam works and how to protect yourself – and your money.

Is Keeping Your House Your Best Option During Bankruptcy?


Consider carefully before you keep a home during bankruptcy

Image Source: Flickr User hobvias sdoneighm

Many people initially contact a bankruptcy lawyer to discuss Chapter 7 or Chapter 13 to save their house from foreclosure. This is a primary motivator in many bankruptcy cases – however, one thing we like to encourage potential clients to consider is whether hanging on to your house is the best thing for your financial future. In some cases, trying to keep it may wreck your shot at a financial fresh start. Here are some things to consider.

Should You Tell Your Friends or Family That You Filed for Bankruptcy?

Keeping secrets

Should you keep your bankruptcy secret?

Image Source: Flickr User Stuart Richards

One of the concerns we often address with our bankruptcy clients is who will know that they filed bankruptcy. For the most part, only people you tell will know. It is true that bankruptcy petitions, both business and personal, are a matter of public record, but it is rare that the “public” becomes aware of bankruptcy filings. If you have an attorney friend or family members that regularly scours local bankruptcy filings on the Federal website, they may come across your name, but this seems unlikely. The question is, should you tell your family that you filed for bankruptcy?

5 Household Brands That Survived Bankruptcy

Henry Ford

Henry Ford and other business legends used bankruptcy to get back on their feet

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Business owners and entrepreneurs can use Chapter 11 or Chapter 7 business bankruptcy to help get out of a bad debt situation. Even the savviest of business men and women can get in over their head with debt, particularly when their market or the economy, in general, takes a nose-dive. The bottom line is that there is no shame in admitting you need help and turning to bankruptcy. It is a legitimate and legal remedy to prevent your business from collapse or help close it down with fewer complications and impact on your personal finances.

Credit Card Debt Much Higher Than Surveys Report – More Than $15,000 per Household

Credit cards

Credit card debt can quickly grow out of control

Image Source: Flickr User frankieleon

Statistics can be a tricky thing. Many news reports and articles list average American household credit debt between $5,000 to $7,000. The amount reported depends on which source the author cites, but neither seems like a remarkable level of debt. The Federal Reserve tracks data, and the most recent report lists an average $7,327 of credit card debt per household. But this number is flawed because it takes into account all households, even those that don’t carry credit card debt. NerdWallet tweaked this data to calculate the debt among only households that carry debt.

Dealing with a Mortgage After Chapter 7 When You Don’t Reaffirm the Loan


Mortgages can survive Chapter 7 bankruptcy

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If you are current on your mortgage payments and file Chapter 7 bankruptcy, you may have been advised by your attorney not to reaffirm your mortgage during the process – or your lender may have refused to reaffirm. Mortgage lenders typically prefer you to reaffirm the debt because it gives them more leverage and options. Often, though, it’s better for you to not reaffirm to give you more options. However, one of the downsides to not affirming is that mortgage companies will usually not report your post-bankruptcy mortgage payments to the three credit bureaus.

4 Ways to Deal with an Auto Loan During Chapter 7 Bankruptcy

Auto loans

Auto loans and bankruptcy

Image Source: Flickr User davidd

If you have an auto loan and are considering Chapter 7 bankruptcy to deal with insurmountable debts, there are several outcomes for your vehicle depending on your circumstances, the value of your vehicle, your loan balance and whether or not you are current on your auto loan payments. Here are the four options that are potentially available to you to help deal with your auto loan.

10 FAQs on North Carolina Bankruptcy – And the Answers You Need


FAQs about bankruptcy

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What we find when we talk to clients who come in for a North Carolina bankruptcy consultation is that they don’t have an in-depth understanding of what bankruptcy means. They're not clear about what happens during the bankruptcy, how the process goes, and how they can get the best results from bankruptcy. Today we address 10 of the most frequently asked questions we hear and offer answers you need to educate you on how bankruptcy might benefit you.

Greensboro NC Jobs Future Looks Outside of the US

Greensboro NC

Greensboro business is going global

Image Source: Flickr User Charles Smith

North Carolina unemployment news shows that the unemployment rate is stagnant and, what’s worse, more people were jobless in August 2015 than August 2014. Greensboro, North Carolina business and civic leaders are taking steps to combat the sluggish economic recovery by thinking globally. Here’s a look at Greensboro’s new jobs strategy.

Dealing with Time-Barred Debt in North Carolina – Don’t Get Taken Advantage of by Debt Collectors

Time runs out

What happens when time runs out on debt?

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Most all debt has a statute of limitations – with the exception of federal student loans. A statute of limitations sets the time limit for how long a creditor can sue you over a debt. In North Carolina, most consumer debt has a statute of limitations of three years from the date of last activity. The last activity would typically be the last time you charged something on the account or the last time you made a payment on the account. Here’s what you need to know about debt that has expired the statute of limitations – known as “time-barred debt” – so you don’t get taken advantage of by unscrupulous debt collectors.

North Carolina Consumers: Don’t Fall for Jury Duty Scam

Jury Duty

Don't fall for the jury duty scam

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Consumers in both South and North Carolina are being hit up with a new scam that’s designed to scare you into handing over hundreds of your hard-earned dollars to avoid jail time. This jury duty scam rears its ugly head every few years and, this fall, we’re hearing reports from local police departments getting calls from scared citizens. Here’s what to look for so you don’t fall prey to this increasingly common scam in today's consumer alert.

What Debts Will You Still Owe After Chapter 7 Bankruptcy?

Financial peace of mind

Some debts will survive Chapter 7

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Chapter 7 offers the more complete debt relief of the two consumer bankruptcy chapters. But, in some cases, you will still come out of Chapter 7 with some debt still intact. Today we’ll take a look at what Chapter 7 can discharge, what it can’t, and how to deal with the bills left over after a Chapter 7 bankruptcy.

Avoid These 4 Common Mistakes After Bankruptcy


Mistakes to avoid after bankruptcy

Image Source: Flickr User Topher McCulloch

Bankruptcy represents a fresh start for consumers trapped in debt. But things can turn bad again if you don’t make the most of your new financial freedom. Think of it like this. Imagine if there was a pain-free, miracle weight loss surgery that would instantly take all of your excess weight away. Amazing, right? But if you don’t change your habits after the medical intervention, you could see the pounds pile back on – so it is, too, with debt. Here’s a look at four common mistakes we see after bankruptcy you should avoid.

5 Downsides to Consumer Credit Counseling


Why credit counseling can hurt your credit score

Image Source: Flickr User Clint Budd

You may see many websites that encourage consumer credit counseling as the soundest choice and that state that bankruptcy should be your “last resort.” But, in some cases, bankruptcy can be a much better option to solve serious financial problems. Today we’ll take a look at five of the downsides to consumer credit counseling that you may want to consider before you decide on this course instead of bankruptcy.

Medical Bills Can Ruin Your Credit Report – Loopholes Med Debt Collectors Use to Ruin Your Score

Medical bills

Don't let medical debts ruin your credit

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Medical bills are not a thing of the past despite the Affordable Care Act’s promises of lower costs for health care. Even for those that have insurance, non-covered services, copays, deductibles and coinsurance can pile up and leave you owing more money than you can afford to pay. To make matters worse, medical debt collectors have more latitude than other types of collection agencies and can quickly ruin your credit without you even knowing the hit is coming. Here’s what you need to know.

5 Myths About Your Credit Score – Don’t Let Misinformation Tank Your FICO

Credit cards

Credit cards can help or hurt your FICO score

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We all know that having a high credit score is a good thing, but many people misunderstand how to get their credit score up and how to keep it there. There’s a lot of misinformation out there. Personal finance classes in high school teach that good credit is the goal, but don’t offer practical information on how to get there. Millennials, in particular, are taking on credit without a clear idea of how to best manage their debt to optimize their credit scores. And your FICO score determines how much you’ll pay for critical services like homeowner’s and auto insurance and what interest rate you can get for a mortgage or auto loan. Today we’ll dispel five myths about credit scores.

Do You Have Too Much Debt? How to Tell If You’re in Over Your Head Financially

Drowning in debt

Are you in too deep with debt?

Image Source: Flickr User Almanness Photography

Debt is a fact of life in North Carolina and all across America. We expect to be in debt from the time we start college and take out our first student loan and sign up for a credit card – and throughout our lives. Student loans, credit cards, medical bills, mortgage, auto loans and more – they are all a fact of life. To some extent, debt can be a good thing. It allows you to be a homeowner, have a reliable car to make it to work and to obtain a college degree. But how much is too much? And how can you know when you’re in too deep and need help?

North Carolina Scam Alert: Fake Delivery Notice Is Launching Point for Many Scams

Delivery notice scam 

Beware a new scam using package delivery notices

Image Source: Flickr User Matt

As we head into the shopping season for the Fall holidays from Halloween to Thanksgiving then Christmas (or whatever winter holiday you celebrate), you may be expecting packages and other deliveries. But several new scams are using delivery notices to try and take advantage of consumers, so you should be on the lookout in coming weeks to protect yourself against these would-be fraudsters. In today's scam alert, we take a look at some of the delivery notice scams that have surfaced recently in North Carolina.


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