September 24, 2017

Chapter 11 Bankruptcy Primer, Part 2 of 2

While Chapter 11 bankruptcy is not as frequently employed as Chapters 7 and 13 it is appropriate in some circumstances. This post, along with the first part in the series, will answer many frequently-asked questions about Chapter 11. I also recommend downloading my guide to Chapter 11 here. Q: What questions do I ask a prospective Chapter 11 client to determine whether they should “collapse … [Read more...]

Creditors and Divorce Agreements

Most married couples incur joint debts during their marriage, meaning that both spouses are liable for the debt.  Here are some general thoughts to consider if you find yourself contemplating, or going through, a bankruptcy and divorce in North Carolina. Creditors don't care about divorce agreements Your creditors are not bound by your separation or divorce agreement with your spouse. Your … [Read more...]

Debt Resolution Programs: Beware, Beware

Look, I know why people have joined or are considering joining so-called "debt resolution" programs; we humans have an innate desire to “do the right thing” and honor our debts. But with so many people turning to me to pick up the pieces of a debt resolution program gone bad, it's time to take a stand against them. The ugly downside of debt arbitration programs As I work with new clients in … [Read more...]