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Wells Fargo Chastised in Court for Poor Treatment of Bankruptcy Filers

Wells Fargo

Wells Fargo treated bankruptcy filer poorly according to NY judge

Image Source: Flickr User Mike Mozart

If you bank with Wells Fargo and are considering filing bankruptcy, there's something you should know. The bank makes it a policy of freezing funds of bankruptcy filers as a policy. Stripping access to funds is not required under bankruptcy law and can push already cash-strapped consumers into financial ruin. But a recent court case in New York sided with the bankruptcy filer and chastised the mega bank for its poor treatment of the debtor.

Supreme Court Ruling on Affordable Care Act May Decrease Bankruptcy Filings

Supreme Court

Supreme Court Ruling on Affordable Care Act Is a Game Changer

Image Source: Flickr User David

The Supreme Court ruled 6-3 that the federal tax credits associated with the Affordable Care Act (ACA), commonly known as Obamacare, putting to rest objections to the healthcare law. If the high court had ruled the other way, tax credits in states without their own health insurance exchanges would have ceased effectively putting an end to the ACA, at least until a non-participating state changed its position or Congress redrafted the law. For now, like it or not, the federal insurance law is here to stay. What's interesting is how it may impact bankruptcy filings and may, in fact, decrease them.

5 Signs You've Lost Control Of Your Credit Card Spending

Burned by credit cards

Are you being burned by your credit card habits?

Image Source: Flickr User frankieleon

Credit cards are a great convenience and, if used wisely, can help establish and keep your credit score high. But if you lose control of your credit card spending, max out your cards, and can only afford to pay the minimums, you can quickly wreck your credit rating. You can also end up in legal hot water with aggressive credit card debt collectors. Here are five signs that your credit card habits are in bad shape and need a major course correction.

Celebrity Bankruptcy Alert: Top Music Producer Blows $70 Million

Music producer

Music producer Scott Storch files bankruptcy after losing $70 million

Image Source: Flickr User fr4dd

Two days ago, celebrity bankruptcy news broke that top music producer Scott Storch filed for Chapter 7 protection. Even if you don't know Storch's name, you certainly know the music he produced. He created beats for Beyonce, Jay Z, Dr. Dre and 50 Cent among others. By his early 30s, Storch was making six figures for 15 minutes of producing time. Now, he's got just $100 to his name, and nine years after he hit his pinnacle, Storch filed bankruptcy to try and clean up his act. Here's a look at his fall from $70 million in today's celebrity bankruptcy alert.

Joint Bankruptcy With Husband and Wife May Not Be What's Best

Marriage and bankruptcy

You may want to not say "I do" to a joint bankruptcy

Image Source: Flickr User Leland Francisco

For couples going through a tough time financially, bankruptcy can be one way to get you the debt relief you need. But before you jump in and file a joint bankruptcy, you may want to speak to an experienced North Carolina bankruptcy attorney. You should make sure you won't be better served by an individual bankruptcy filed by only you or your spouse. Here's what should be considered.

Taylor Swift Scam Alert: Don't Let Your Summer Fun Fall Prey to Fraud

Taylor Swift concert

Taylor Swift fans were disappointed by ticket scam in North Carolina

Image Source: Flickr User Taylor Swift 030

Taylor Swift is on her 1989 tour, and that means tweens and teens (and even some unabashed adults) are excited about scoring tickets to her sold-out shows. Swift performed at the PNC Arena for a packed house in June and will be back to the Greensboro Coliseum in late October. Unfortunately, many superfans have been scammed with fake Swift concert tickets that have left them cheated out of hundreds of dollars and blocked from the concert they desperately wanted to see.

Announcing the VA Accreditation of Ed Boltz to Assist North Carolina Soldiers and Veterans

Department of Veterans Affairs

Ed Boltz accredited by VA to help veterans and service members

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The Veterans Administration accredits select attorneys to help veterans pursue their rightful benefits and protections under the law from only the most qualified legal representatives. The Law Offices of John T. Orcutt is pleased to announce that attorney Ed Boltz has been accredited by the United States Department of Veterans Affairs to assist veterans, specifically in regards to financial problems, including bankruptcy, foreclosures, illegal debt collection and student loans.

Celebrity Bankruptcy Success Story – Real Housewives Sonja Morgan Emerges from Chapter 11

Get out of debt

Bankruptcy can get you out of debt for good

Image Source: Luis Llerena via Unsplash

Often, celebrity bankruptcy stories are all riches to rags (or a more modest lifestyle). Usually, the stars grow accustomed to a certain lifestyle then when their income drops, they try to keep it up which results in increased debt. Then comes the bankruptcy filing. But for Real Housewives of New York star Sonja Morgan, her bankruptcy has been a resounding success that she's proud to celebrate.

5 Money Problems Crushing American Consumers – And How Bankruptcy Can Help


Fight debt and financial problems

Image Source: Flickr User The All-Nite Images

While the economy is recovering, there are still struggles out there. There are pockets of North Carolina where unemployment is still high, and average incomes are lower than more prosperous areas of the state. And even in areas where recovery has made inroads, there are still many individuals who are not doing well financially. Today we take a look at the top five causes of money problems that are affecting indebted consumers in North Carolina and all across the country.

Can You Lose Income After Filing a Chapter 7? Here's How to Protect Your Money

Hang on to your money

Protecting future income is a priority when filing bankruptcy

Image Source: Flickr User Rocky Lubbers

If you are considering filing a Chapter 7 bankruptcy to get free of overwhelming debt, you should know that, in some cases, income that comes in after you file could be pursued by your Trustee. Here's what you need to know to best protect your income and get the most complete debt relief from your Chapter 7 bankruptcy filing.

Could Your Bankruptcy Case Be Dismissed? Yes and Here's Why!

Case dismissed

Bankruptcy case dismissals can be voluntary or involuntary

Image Source: Flickr User Orin Zebest

Both Chapter 7 and Chapter 13 can be perfect paths to meaningful debt relief. Chapter 7 allows you to discharge most unsecured debts including medical bills and credit cards. Chapter 13 allows you extra time to catch up on past due secured debt like your mortgage or car loan and is also the only option open to those who can't qualify for a Chapter 7 bankruptcy. But in either of these bankruptcy chapters, you should know that your case could potentially be dismissed. Here's a look at the types of dismissal and the reasons for dismissal.

Celebrity Bankruptcy News: 50 Cent Files Boxing Business Chapter 11

Boxing business bankruptcy

50 Cent Files Boxing Business Bankruptcy

Image Source: Flickr User WorldSeriesBoxing

Curtis James Jackson III, better known by his stage name 50 Cent, has a boxing promotion firm called SMS Promotions and Jackson just filed business bankruptcy. We'll take a look at what happened, why Fiddy's company is struggling, his plans for the future of this enterprise and more in today's celebrity bankruptcy update.

Can You Get a Business Loan or Start a Business After Bankruptcy?

Business loan

Business loans can be a challenge after bankruptcy

Image Source: Flickr User Billy Brown

If you already own a business and need funding or are planning to start a business, you may need a business loan. But if you have previously filed bankruptcy (or are considering one) you may be worried how it will affect your ability to finance your business. Here's what you need to know about getting a business loan after bankruptcy and how to make yourself more appealing to potential lenders.

7 Benefits of Filing Chapter 7 Bankruptcy


Seven benefits of Chapter 7

Image Source: Flickr User Melanie Hughes

If you're drowning in debt, living paycheck to paycheck and constantly dealing with debt collectors, you need help. The simple fact is, you don't have to live this way. Ignoring your debt won't make it go away. And if you owe far more than you can afford to pay, chipping away at it a tiny bit at a time can mean years of financial stress to come. Chapter 7 bankruptcy can provide instant relief to underwater consumers. Here are seven benefits of choosing Chapter 7 to deal with your debt.

Supreme Court Supports Debtors in Chapter 13 Conversion to Chapter 7 Ruling

Supreme Court

Supreme Court rules in bankruptcy conversion case

Image Source: Flickr User Mark Fischer

The Supreme Court issued a ruling in May that greatly benefits consumers that are in a Chapter 13 bankruptcy but then convert to Chapter 7. The recent landmark case was Harris v Viegelahn that came to the high court after a split in the Court of Appeals. Here's a look at the case, and what it means to bankruptcy filers across the country.

Celebrity Bankruptcy and the Bachelorette – Jonathan Holloway's Chapter 7

Bachelor and bachelorette

The Bachelorette has a bachelor that just got a fresh start with bankruptcy

Image Source: Flickr User Devin Young

If you enjoy the guilty pleasures of reality TV, you may be a fan of ABC hit series The Bachelorette. There's always lots of drama on the matchmaking TV series, but usually it's centered on jealousy, fueled by alcohol and ends with no rose and tears in a limousine. This season, though, one of Bachelorette Kaitlyn Bristowe's suitors Jonathan Holloway filed bankruptcy just as the season of the love-lorn show was set to air. In today's celebrity bankruptcy news, we'll tell you all about what happened, and how Holloway is using the Chapter 7 to get a new lease on life as he tries for a new shot at love too.

Federal Employee Identity Theft – Government Data Breach Puts You at Risk

Danger sign

Government employees at risk of identity theft

Image Source: Jan Willem Geertsma

Last week, the Federal government was hit by a sweeping cyberattack that put personal information of more than four million current and former Federal employees at risk. If your data was affected, you will be sent an email from between now and June 19, 2015. If the government does not have your email address, they will send a physical letter. If the email you used related to your government employment is not your current email, you should monitor your former email account (if possible) until this window has passed. Here's what you need to know to protect yourself in today's consumer alert.

Fight Back Against Private Student Loan Debt Collectors

Debt and depression

There is help for private student loans

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Student loans continue to be a significant burden on most college graduates. And for those who take out private loans, the financial implications can be much more dire. Private student loans usually come with much higher interest rates than federal loans and far fewer protections. While private student loans still represent a relatively small percentage of overall student debt, the collection tactics on private educational debt may be much harsher than on federal loans. But you can fight back. Here's what you need to know.

Chapter 7 Bankruptcy Doesn't Have to Be a Last Resort

Time is of the essence

Bankruptcy may be better for you if it's not left to the last resort

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Most people think of bankruptcy as a “last resort” option for those whose finances are so dire that there are no other options. But financial guru Steve Rhode, known as the “Get Out of Debt Guy,” is shaking up this philosophy. He says that not filing Chapter 7 when you get in too deep with debt can be a million dollar mistake. Rhode writes, “the greater question to answer before diving into how to deal with your debt is to determine if you think you have a greater responsibility to repair the past or the future.” Rhode proposes (and we agree) that Chapter 7 should be a first and not a last resort.

How Bankruptcy Can Benefit Your Retirement – Advice for North Carolina Seniors


Don't lose retirement assets to debt - bankruptcy can help

Image Source: Flickr User Steven Depolo

Debt can overwhelm you at any age or stage of life. If you lose your job, have unexpected medical costs, go through a divorce or experience any other major life event that drives income down and expenses up, you can find yourself in a tight spot. And the older you are when it happens, the worse off you will be. Why? You're usually not in a position where your income will be increasing. Especially if you're retired, your income may be fixed, so you won't have a way to make up the difference. So what can you do? Smart North Carolina seniors will consider bankruptcy.


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