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Baby boomers and debt can mean financial trouble

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Debt is one of the most discussed topics in America today – online, at work, and in Wilmington households. It’s not difficult to see why. Even with the economy booming (and perhaps because of the resurgence), we now owe more than ever. A recent study by Value Penguin shows total outstanding consumer debt in the US now exceeds 3.9 trillion dollars.

Should you sign a reaffirmation agreement in Greensboro bankruptcy?

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When you file Greensboro bankruptcy, you can catch up on past-due debt with Chapter 13 or discharge lots of debt with Chapter 7. With Chapter 7, the process takes just a few months start to finish while Chapter 13 takes three to five years. However, sometimes there are debts you don’t want to include in your bankruptcy. In some cases, you can carve out exceptions, with the court’s permission, and sign a reaffirmation agreement with the creditor. But what if you change your mind?

Investment property can be saved in bankruptcy

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When you decide to file Greensboro bankruptcy, you can choose Chapter 7 or 13, depending on your income, debt, and assets. If you own investment property, defined as property other than the home you live in, your choice of bankruptcy chapter could have significant consequences.

Can you sell a spare car before you file bankruptcy?

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When you’re struggling with debt and falling behind on payments, one thing you might consider is selling off spare stuff to try and cover your bills. At the same time, you might be thinking about North Carolina bankruptcy. If you have a car that you're not using and want to sell it, this could affect your bankruptcy case. So, can you sell your car before filing bankruptcy? It depends.

Personal injury case and bankruptcy? Here's what you need to know

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Occasionally, consumers will have a personal injury lawsuit going at the same time that they need to pursue bankruptcy relief. But since a judgment in a court case means cash in your pocket, will you lose your personal injury settlement in your Greensboro bankruptcy case? The quick answer is that it depends on what the money was paid out for, as specified in the settlement.

Dance Moms' Abby Lee Miller is out of prison and in a halfway house

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In today’s celebrity bankruptcy update, we look at one of the most famous faces accused of bankruptcy fraud – Dance Moms diva Abby Lee Miller. Sentenced to 366-days behind bars for bankruptcy fraud at the Victorville Federal Correctional Institution in California, Miller is now an almost-free woman.

Save your small business with Greensboro bankruptcy

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Starting and running a small business in Greensboro requires you to wear many hats. You’re the owner, operator, manager, salesperson, and the accountant. Not only that, but the line between your personal and business funds can get blurry, and you may commingle funds. It’s very common for small business owners to guarantee debt personally and to put personal assets at risk.

Toys "R" Us bankruptcy updates

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In today’s business bankruptcy update, we’ll look at what’s going on with Toys “R” Us. As a consumer, the first thing to ask yourself is, “Do I have any Toys “R” Us gift cards lying around the house?” If you have any TRU gift cards you were saving for a birthday treat or summer fun, think again. There is less than a month from the date of this article for Toys “R” Us gift cards to be used. After that, they’re worthless.

Avoid these mistakes on your tax return

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There’s less than a month until the tax filing deadline, and we’ve got some tips for Greensboro consumers to help ensure your tax refund isn’t held up by the IRS. Given that most taxpayers now file their returns electronically, things move faster. The IRS issues refunds within 21 days on 90% of tax returns. But what about the other 10% of returns that don’t get paid within three weeks? Today we’ll look at the top mistakes that delay tax refunds.