Bankruptcy Articles
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Get the facts on bankruptcy, including types, qualifications, and what to expect in the process.
Assets
There are two types of assets:1) Exempt – the court will allow you to keep certain things that you need to live. The general rule is that North Carolina exemption law governs what you can keep and what you cannot. In complicated cases, the exemption [...]
The Bankruptcy Trustee
Once you file a bankruptcy case, most of your property becomes an estate. This estate is separate from you – it is a separate entity, called the bankruptcy estate. The court appoints a person to represent the bankruptcy estate. This person is called a trustee. [...]
The Bankruptcy Estate
When you file a bankruptcy case in Wilmington, an estate is created to be administered by the bankruptcy trustee. The trustee represents your bankruptcy estate as a separate entity. For Chapter 7 cases, the trustee has an interest in your bankruptcy estate not just because [...]
What Chapter 13 Plans May Do
In addition to the required Chapter 13 plan provisions, the law also lays out the things that Chapter 13 plans may provide for:A plan may classify unsecured claims, as long as the plan treats each claim within a particular class the same. 11 U.S.C.A. Section [...]
Chapter 13 Plan Requirements
Chapter 13 Plan Requirements – What a Chapter 13 Plan Must Do Many things can be done within a Chapter 13 plan in an effort to reorganize and even discharge debts. However, there are certain things that a Chapter 13 plan must do. Chapter 13 [...]
Chapter 13 Bankruptcy – 10 Steps
There are 10 basic steps involved in a Chapter 13 case. After collecting the appropriate information, your Wilmington bankruptcy attorney will determine if Chapter 13 is appropriate. 1st Step – Paperwork You must complete the paperwork to get your case started the right way. The [...]
