June 25, 2019

Bankruptcy Specialist: Do I need one?

People choose bankruptcy lawyers based on many things, including their experience.  How do you choose the right one? While there are a number of Charlotte attorneys who practice bankruptcy law that are competent, if not at the highest level, to handle most bankruptcy matters, there are a few extremely capable bankruptcy attorneys in western North Carolina. Unfortunately, there are a number … [Read more...]

Bankruptcy Without an Attorney

Unfortunately for those in financial hardship, filing for bankruptcy protection isn't free.  Too often, I counsel people who need bankruptcy protection who haven't saved the money for the court costs or attorney fees. And sometimes, I meet with new clients who may have been able to save a troubled business if they’d just gotten some legal advice earlier rather than later. This is usually because … [Read more...]

Marital Property and Bankruptcy: Allocating Exempt Property

Each state has different laws on what is recognized as exempt property, that is, property that is out of the reach of creditors (including bankruptcy trustees). Further, there are federal exemptions. I wrote about this extensively and you may find it helpful reading. Here's the kind of question that occasionally comes up when we counsel a married couple about bankruptcy. Q: The exempt … [Read more...]

Experienced Chapter 13 Bankruptcy Attorney

Filing a Chapter 13 bankruptcy case isn’t as straightforward as a Chapter 7 case. I usually find that my Charlotte area clients who need Chapter 13 bankruptcy protection have issues with businesses and partnerships that need to be unwound or otherwise dealt with; they often have unpaid tax liabilities with the state and IRS; and they may have a number of mortgaged properties and other assets they … [Read more...]

What to Look for in a Bankruptcy Attorney: Experience

Unfortunately, in this recession, bankruptcy and debtor/creditor relations is a growth industry, and as such there are some Johnny Come Latelys. The fact is, experience counts, and the cheapest bankruptcy attorneys in town are not the most experienced.   When it comes to handling your financial concerns, you want experience. When I meet with new clients, I sometimes find out that they've … [Read more...]

Don’t Try to Hide Your Assets in Bankruptcy

I recently ran across an  article in the  St. Petersburg Times involving a person in a Florida bankruptcy case who scheduled very few assets in his bankruptcy filing but conveniently forgot to tell his attorney about $35,850 in an account that he owned. A sharp-eyed Chapter 7 bankruptcy trustee discovered the account. This resulted in the guy losing his account and being convicted of a federal … [Read more...]

Bankruptcy Trustee Basics

In addition to my private practice, I serve as a Chapter 7 Trustee for the United States Bankruptcy Court for the Western District of North Carolina.  Few people know what this means and how this service helps my private practice clients, so here's a primer. What's a bankruptcy trustee? Chapter 7 Trustees (also known as panel trustees) are not government employees. Here in the Western District … [Read more...]