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Use Chapter 13 to Save Your Greensboro Small Business

Small business

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.

Can You Go To Jail Over Wilmington Debt?

Debtors prison

Threatening debtors with jail is against the law!

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Unscrupulous debt collectors may threaten past-due Wilmington consumers with jail. If you’ve ever been terrorized in this way by a collection agent, you should know that they cannot send you to jail and they shouldn’t be making those threats. Being in debt, even if you’re very overdue, is not a crime. However, some debt issues are criminal.

Toys “R” Us Bankruptcy Update - Spend Your Gift Cards ASAP!

Toys R Us bankruptcy

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.

7 Things To Do After Wilmington Bankruptcy

Steps after bankruptcy

What should you do after bankruptcy?

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When you begin the process of Wilmington bankruptcy, you’re likely focused on the moment – on what you’re dealing with now, whether it’s living paycheck to paycheck, debt collector harassment, or the threat of foreclosure or repossession. The next concern is what happens during the bankruptcy including court appearances. But what happens after bankruptcy and what should you do next?

Greensboro Consumer Tip: Don’t Make Tax Return Mistakes That Delay Your Refund

Tax refund mistake

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.

5 Reasons Chapter 13 Might Be Better For Your Wilmington Bankruptcy

Bankruptcy options

Carefully consider your Wilmington bankruptcy options

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The decision to file Wilmington bankruptcy isn’t an easy one. You might lean towards Chapter 7 because it’s so fast and offers unprecedented relief of unsecured debt like credit cards and medical bills. This type of fresh start bankruptcy takes about four months from start to finish. However, despite the apparent benefits, not everyone is a fit for Chapter 7 and might do better with Chapter 13.

Celebrity Bankruptcy News – Actor Joey Lawrence Ditches Debt With Chapter 7

Celebrity bankruptcy

Celebrity bankruptcy alert - Joey Lawrence ditched debt with Chapter 7

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Less than a year ago, actor Joey Lawrence declared bankruptcy under the weight of a staggering amount of debt. The 41-year old, who has been a working actor since the age of six, fell into severe debt when his income dropped suddenly and significantly. It can happen to anyone from the middle class to the moderately famous. Here’s a look at the celebrity bankruptcy cases of Joey Lawrence and what you can learn from it.

Facing Student Loan Default in Wilmington? Consequences and Remedies

Student loans

Facing student loan default in Wilmington, NC?

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More than 44 million Americans are battling student loan debt. Recent figures put total student loan debt at nearly $1.5 trillion. For those who can afford their student loans, it’s no big deal. But for many college grads, this debt is overwhelming and ruining their financial future. Are you behind on your student loans? If so, you should know that going into default brings severe consequences. Here’s a look at what to do if you’re facing student loan default in Wilmington.

Should You Pay Off Debt With Retirement Funds? Tips For Greensboro Consumers

401(k) loan

Debt now versus retirement later

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Debt isn’t always a bad thing. It’s debt that lets you buy a house or a car – two things most Greensboro consumers could never purchase on a cash basis. If you can service your debt on your current income while still paying your costs of living and saving for retirement, you’re probably just fine.

During Wilmington Bankruptcy Do You Have to Stop 401(k) Contributions?

Disposable income calculation

Can you keep making 401(k) contributions during Wilmington bankruptcy?

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When you file Wilmington Chapter 13 bankruptcy, all your disposable income is expected to go towards paying back your creditors. This type of bankruptcy sets you up on a repayment plan that lasts from three to five years. Under the plan, you won’t pay back all of your debt. Some will be discharged at a lower percentage, but some debts must be paid back in full.

Will My House Be Searched When I File For Bankruptcy?


Bankruptcy doesn't follow you home

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Many people have the wrong idea about bankruptcy. They make assumptions based on what they see in movies and on TV or sensational headlines about celebrities going broke. One of the misapprehensions about bankruptcy is that a bunch of federal agents will pull up at your house with a giant truck and take all your possessions. It shouldn't happen to you (or anyone else). Bankruptcy isn’t a problem - it's a solution - and in most cases, you won’t lose any assets.

Struggling with Student Loans? Look for Help From Your Wilmington Employer

Student loans

Struggling with student loans in Wilmington?

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Student loans are a fact of life for most who pursue a college degree. In Wilmington and greater North Carolina, the most recent data from The Institute for College Access and Success shows that 58% of graduates came out of college with debt and the average amount of student loans was nearly $26k. Grads from UNC Wilmington owe $25k on average, and 60% come out of that institution with loans. If you’re struggling with student loans, we’ve got some ideas including help from employers.

3 Reasons It Might Be Time For Greensboro Business Bankruptcy

Small business bankruptcy

Is your Greensboro small business struggling?

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It’s no easy thing owning and running your own Greensboro small business. Companies collapse for many reasons. It can be a faulty concept, trouble in the economy, a business plan that wasn’t financed well from the get-go, or another cause. Whatever the reason, if you’re facing serious financial problems in your small or mid-sized business, Greensboro bankruptcy might be the best solution for you.

Is Debt Ruining Your Relationship? Wilmington Bankruptcy Could Save Your Marriage


Debt can lead to divorce

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According to a study of couples with marital issues by SunTrust bank, financial problems are the primary cause of stress in relationships. Forget arguments about kids, relatives, friends, or sex – debt can be the most significant deal breaker for marriages. The survey by the bank showed that almost 50% of participants revealed that they have different approaches to saving and spending than their partners and blame finances for relationship stress. Wilmington bankruptcy may be the answer you need.

Why Bankruptcy May Be Better Than Debt Consolidation Or a DMP

Debt choices

Which debt solution is best for you?

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A financial crisis doesn’t crop up overnight. Usually, it’s a process over time that sees you go from financially healthy down the slippery slope into unmanageable debt. Sometimes it’s prolonged job loss that impairs your finances. For others, it might be divorce or a medical crisis that causes problems. No matter what happened, when you find yourself drowning in debt, you need a solution.

Debt Collection Calls After Wilmington Bankruptcy? Contact Your Lawyer ASAP

Debt stress

Stressed by debt collectors after filing bankruptcy? Take them to court!

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The Wilmington bankruptcy process is meant to protect you from debt you can’t afford. At one time, people who owed debt they couldn’t afford were jailed, but now, there are protections under the law to give you a fresh start away from unmanageable debt. Two essential tools under the federal bankruptcy laws include the automatic stay and the bankruptcy discharge. Both can shut down debt collectors, and if they violate the law, they can be punished.

5 Dangers of Filing Greensboro Bankruptcy Without a Lawyer

Caution - danger

Be careful when filing Greensboro bankruptcy without a lawyer

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Filing Greensboro bankruptcy can be life-changing for those drowning in unaffordable debt. There are two routes to bankruptcy relief. The first path is to hire a skilled, experienced local North Carolina bankruptcy lawyer to prepare the petition and supporting schedules, and to then file your case with the court. The second path is to file your case without the benefit of a lawyer. There is no law mandating you must have a lawyer to represent you, but there are challenges with going it alone.

5 Types of Lawsuits Wilmington Bankruptcy Won't Stop


Facing a debt lawsuit? Bankruptcy may help

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When you choose Wilmington bankruptcy to address your financial problems, you'll see many benefits. The most obvious is debt relief, but another important benefit is the stay on debt collections and end to many types of lawsuits. There’s an injunction that comes into force, on most legal actions by creditors, as soon as your North Carolina bankruptcy lawyer files your case.

Department of Education May Ease Student Loan Relief in Bankruptcy

Student loans

New hope for struggling student loan borrowers

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Student loans are now in the trillions and default rates are above 11%. If you’re a North Carolina resident struggling with your student loans, you’re not alone. Student loans were once much easier to discharge in bankruptcy, but lobbyists changed all that, and it became very difficult to shed them using Chapter 7 or Chapter 13. However, there’s good news on that front, and the pendulum may finally be swinging the other way.

Warning For Wilmington Consumers: You Can Lose Your Passport Over Tax Debt


Yes, you can lose your passport over past-due tax debt

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Owing income tax debt that you can’t afford to pay is an uncomfortable position to find yourself in. The IRS has impressive powers of collection to recover what you owe. In North Carolina, tax agencies are one of the few creditors that can garnish wages. They can also seize tax refunds, levy your bank account, and put a lien on your vehicle or home.


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