The general rule is that debts that existed before the bankruptcy petition is filed are discharged at the end of the case unless a specific exception to the discharge rule says otherwise. Most  debts listed on Schedule F for Chapter 7 debtors will be discharged.  Sometimes debts are discharged in … [Read more...]

Priority claims are unsecured claims or claims without a lien or collateral involved that are required to be paid before other claims.  If a claim is secured, it is technically not a priority claim.  The general rule is that priority claims must be paid in full in Chapter 13 cases.   Priority claims … [Read more...]

Fraudulent Transfers If a debtor makes a fraudulent transfer within two years before the filing of a petition, the trustee may be able to avoid and recover the transfer.   Please keep in mind, the trustee may have even have the power to reach back in time to more than 2 years before filing, for … [Read more...]

The means test is the Bankruptcy Court’s way of enforcing “needs based” bankruptcy (only those who truly need a Ch 7 will be allowed to file Ch7).  The means test has two functions:  It serves as a screener to determine whether a debtor will be eligible for a Chapter 7 Bankruptcy and if it … [Read more...]

You have already filed for Bankruptcy before You are a new resident of North Carolina Someone is threatening to take your home – Not all creditors are entitled to take your house  (who holds the Deed of Trust).  Do not file a Chapter 7 if you are behind on mortgage payments and you want to save … [Read more...]

Chapter 7 Bankruptcy: Not A Do-It-Yourself Opportunity Nobody wants to file for bankruptcy. But sometimes, after reviewing your circumstances, it may be the best choice if you wish to move forward with your dire financial situation. The problem is filing for bankruptcy can be expensive (even … [Read more...]

1. We Are A Debt Relief Agency WE ARE A DEBT RELIEF AGENCY.  WE HELP PEOPLE FILE FOR RELIEF UNDER THE BANKRUPTCY CODE. 2. You Must Complete a Credit Counseling Session and a Financial Management Session FORM 201A:  NOTICE TO CONSUMER DEBTORS UNDER SECTION 342(b) OF THE BANKRUPTCY CODE   Services … [Read more...]

What do I bring to the bankruptcy appointment or interview with the lawyer?  You need to bring documents to show your assets and liabilities:  deeds, leases or land contracts; motor vehicle titles; insurance policies, income tax returns for the past two years, stock certificates, bonds, … [Read more...]

341 Meeting - A meeting of the creditors after the bankruptcy case is filed.  The debtor is required to be at the meeting, but the creditors are not required to be there.  The bankruptcy trustee will be there and will have an opportunity to ask the debtor questions about their property, paper work, … [Read more...]