North Carolina Bankruptcy Law Blog | John T. Orcutt Firm Skip to main content

You are here

Home

Our Blogs

Greensboro Consumer Tip: Never Pay Medical Bills With Plastic

Submitted by Rachel R on Mon, 06/04/2018 - 10:11am

Medical debt

Avoid using credit cards to pay medical bills

Image by sasint via Pixabay

Even with health coverage from your employer or through the Affordable Care Act exchange, Greensboro consumers might find medical bills overwhelming. Hefty deductibles, coinsurance, and copays can add up, and if you don’t have health insurance, even a minor medical issue can result in severe financial hardship. When the medical provider or debt collector comes calling, it may be tempting to settle your debt with plastic, but here is why that’s the last thing you should do.

Changes in Undue Hardship Standard Considered

Submitted by Rachel R on Fri, 06/01/2018 - 9:52am

Student loans

Undue hardship standards may change

Image by maura24 via Pixabay

When your student loans are unaffordable, one life-changing option to consider is bankruptcy. Private student loans are easier to discharge in bankruptcy than federal loans, but even federal loans are dischargeable under certain circumstances. To achieve discharge of federal school debt, you must demonstrate “undue hardship.”

Can The Court Take Your Guns in Wilmington Bankruptcy?

Submitted by Rachel R on Wed, 05/30/2018 - 9:21am

Gun

Yes, the bankruptcy court could take your guns

Image by Skitterphoto via Pixabay

The Second Amendment is a hot button issue these days. Those that have guns wish to keep them while others want stiffer gun control laws. As it stands, North Carolina law allows open carry throughout the state and is generally permissive in its standards on gun ownership. But what happens to your guns if you file Wilmington bankruptcy? Can the court take your guns? Maybe!

How Do You Make $1 Million in Student Loans Go Away?

Submitted by Rachel R on Tue, 05/29/2018 - 9:11am

Student loan debt

Drowning in student loan debt?

Image by Startup Stock Photos via Pexels

Can you imagine owing a million dollars or more in student loans? For more than 100 people in the US, it’s a terrible reality as their college debt has mushroomed out of control. Just five years ago, it was less than 15 borrowers who had racked up that much in school debt. So what do you do with more than a million dollars in student loans and not enough money to vanquish your debt?

Greensboro Consumer Tips – 7 Worst Places to Use a Debit Card

Submitted by Rachel R on Mon, 05/28/2018 - 9:29am

Credit card

Be careful with your debit card!

Image by bruce mars via Pexels

Greensboro consumers should be aware that some locations are hot spots for debit and credit card fraud. Of the two, debit card theft and fraud is the more financially troublesome. For fraudulent charges on your credit card bill, you alert the card issuer as soon as you notice, and they decline the charges and reverse them. You usually have 30-60 days to do so, depending on applicable terms and conditions.

Student Loan Survey Shows Most Don’t Understand Debt

Submitted by Rachel R on Fri, 05/25/2018 - 9:16am

Student loans

What most people don't know about student loans

Image by freephotocc via Pixabay

Current estimates show 44 million student loan borrowers now owe a whopping $1.48 trillion. That’s a lot of debt, particularly when many have no idea the terms under which they are borrowing, the sum of their debt that’s accrued, and how much their monthly payments will be once all is said and done.

How Wilmington Bankruptcy Can Actually Boost Your Credit Score

Submitted by Rachel R on Wed, 05/23/2018 - 10:03am

Credit score

Yes, bankruptcy can help your credit score

Image by CafeCredit.com via Flickr

For Wilmington consumers overwhelmed by debt, the future can look dire. When you run late on bills, debt collection activity can get aggressive. When you’re hounded by collectors demanding payment, it can cause problems at work and in your personal relationships. As if that wasn’t enough, your credit score takes a hit month after month, so long as your debt worsens.

Avoid Refinancing Student Loans – Here’s Why

Submitted by Rachel R on Tue, 05/22/2018 - 9:53am

Refinance student loan

Think twice before you refinance

Image by rawpixel via Unsplash

Stuck with a pile of student loans you can’t afford to service? You’re not alone. If you’re struggling with school debt, you might be desperately looking for solutions. That’s understandable, but think twice about refinancing your student loans. Lenders advertise aggressively and push the benefits of lower interest rates and monthly payments, but there is a flip side to the allure. When you refinance federal loans into a private re-fi, there are some downsides to seriously contemplate before you sign a deal. Consider these aspects.

Be Careful When Signing a Greensboro Debt Settlement Agreement

Submitted by Rachel R on Mon, 05/21/2018 - 8:24am

Debt settlement

Don't sign a DSA without reading this

Image by raw pixels via Unsplash

When you’re behind on debt and collectors are harassing you, times might be so desperate that you'll try anything, but don't ink a debt settlement agreement (DSA) thoughtlessly. With any legal document, it’s drafted to benefit the person paying the lawyer who wrote it. With a DSA, it’s done by the attorney of the creditor or debt collector.

Your Student Loan Debt Could Double or Triple

Submitted by Rachel R on Fri, 05/18/2018 - 10:17am

Drowning in debt

Drowning in student loan debt?

Image by Mubariz Mehdizadeh via Unsplash

In the last ten years alone, outstanding student loan debts in the US have exploded and currently stand at nearly $1.5 trillion. Costs of higher education are rising unreasonably. The average loan balance of graduates is higher and increasingly, more grads emerge from college in debt.

Wilmington Consumer Tip: 5 Things Debt Collectors Can’t Do and How to Shut Them Down

Submitted by Rachel R on Wed, 05/16/2018 - 9:20am

Collection calls

Put an end to harassing debt collector calls

Image by rawpixel via Unsplash

There’s nothing quite so persistent and relentless as a debt collector chasing dollars. When your creditors are after late or missed payments, they may get increasingly aggressive to get what they’re owed, but they typically play by the rules. It’s when an agency takes on the debt on behalf of a creditor or, even worse, when a debt collection agency buys the debt, that things can get out of hand for Wilmington consumers.

Lost Your Job? What To Do About Student Loans While Unemployed

Submitted by Rachel R on Tue, 05/15/2018 - 9:42am

Help

Get help with student loans when you're unemployed

Image by Noah Buscher via Unsplash

No one wants to be laid off from their job, but unemployment can be doubly frustrating when you owe student loans. Losing a job can throw your finances into a perilous situation unless you are well-armed with an emergency fund and lots of savings to see you through the crisis. Most people aren’t prepared to lose a job and even less so when they’re dealing with costly student loan debt.

7 Advantages of Filing Greensboro Bankruptcy

Submitted by Rachel R on Mon, 05/14/2018 - 9:33am

Seven

Seven reasons to consider Greensboro bankruptcy

Image by Karolina Szczur via Unsplash

No one wants to be stuck with debt they can’t afford. If you find yourself overwhelmed by bills, living paycheck to paycheck, and dealing with debt collectors, Greensboro bankruptcy may be the best answer for you. There are numerous advantages to choosing bankruptcy for debt relief - here are seven of them for your consideration.

Yes, Your Spouse’s Student Loans Can Affect You – Here’s How

Submitted by Rachel R on Fri, 05/11/2018 - 9:48am

Student loan marriage

Considering marriage? Student loans could impact your future!

Image by Jasmine Wallace via Pexels

When contemplating marriage, you usually think about the compatibility of lifestyle, preferences, perhaps religion, and, of course, chemical attraction. But one thing that doesn’t often make the roster of top considerations (but should) is student loan debt. The realities of skyrocketing school debt are that it impacts not only the future of the borrower but anyone to whom they hitch their wagon. Here’s what you need to know.

Don’t File Wilmington Bankruptcy Without a Lawyer – 5 Reasons Why

Submitted by Rachel R on Wed, 05/09/2018 - 10:10am

Lawyer

Don't try Wilmington bankruptcy without a lawyer

Image by espartgraphic via Pixabay

So, you are considering Wilmington bankruptcy and thinking of doing it without a lawyer. The letter of the law allows you to represent yourself in any civil or criminal matter in the courts. It’s okay if you go it alone in small claims or traffic court, but diving into the waters of federal bankruptcy law without a lawyer is akin to repping yourself for a murder charge or trying to perform heart surgery on yourself.

Student Loan Forgiveness, Discharge, and Cancellation Explained

Submitted by Rachel R on Tue, 05/08/2018 - 9:58am

Student loans

How to get rid of student loans

Image by Startup Stock Photos via Pexels

Student loan forgiveness, discharge, and cancellation all mean one thing: you can finally see an end to debt that’s been weighing you down for years, possibly even a decade or more. If you’re one of the 44 million Americans currently struggling with student loans or one of the five million now in default, it’s worth exploring what these terms mean and how you might be able to ditch your debt.

5 Reasons Most People File Greensboro Bankruptcy

Submitted by Rachel R on Mon, 05/07/2018 - 9:14am

Bankruptcy reasons

Top reasons for Greensboro bankruptcy 

Image by Felix Broennimann via Pixabay

Greensboro bankruptcy offers a second chance for individuals who are drowning in debt. It can often provide needed breathing space and a path towards financial stability. But what makes people file bankruptcy? What kind of financial troubles lead to filing? Here are five of the most common reasons people choose this legal path to federal debt relief and protection from aggressive collectors.

Problems With Student Loan Public Service Loan Forgiveness

Submitted by Rachel R on Fri, 05/04/2018 - 9:20am

student loans

Is PSLF broken?

Image by OTheFool via Pixabay

Student loan debt can be a good thing because it lets many people go to college who otherwise might not be able to. When it spirals out of control, though, it can be devastating. Programs to help graduates conquer their student loan debt are few and far between. One of them that’s currently at risk is Public Service Loan Forgiveness (PSLF). There are several problems with the program and an uncertain fate. If you qualify, you should make sure you’re on track to get the full benefit.

Is Credit Card Debt Making You Sick? Wilmington Bankruptcy Can Help

Submitted by Rachel R on Wed, 05/02/2018 - 9:28am

Credit cards

Don't let your credit cards make you sick

Image by JESHOOTScom via Pixabay

Debt is a fact of life in the modern era and, to a certain extent, some debt can be healthy. It’s what allows you to buy a home or new car and have a buffer line of credit in case of a cash crunch or emergency. However, too much debt can quickly turn into a financial crisis. Not only that, but did you know that excessive debt can make you physically sick according to research? Learn more, and then see how Wilmington bankruptcy can help.

What is “Discretionary Income” for Student Loan Repayment Purposes?

Submitted by Rachel R on Tue, 05/01/2018 - 8:45am

Payments

Can you afford your student loan payments?

Image by rawpixel via Pixabay

Student loan debt continues to soar. According to data from Experian, student loan balances have jumped nearly 150% over the last decade to a record high of $1.4 trillion. With average individual loan balances climbing past more than $34,000, student loan repayment has become problematic for many North Carolina consumers.

Pages

Subscribe to Our Blogs