News & Information

Filing for bankruptcy is a serious and complex matter. When deciding to declare bankruptcy, you may be feeling overwhelmed and even ashamed at the financial predicament you have found yourself in. The critical thing to remember is that you are not alone. Thousands of Americans file for some type of bankruptcy relief every single year.…

Can you file bankruptcy twice in North Carolina? Businesses and individuals alike file bankruptcy when debt starts to pile up. Doing so gives you a chance to have a fresh start, reorganize debts, and pay back outstanding balances. Sometimes businesses or individuals may opt to file for bankruptcy again if debt continues to be out…

Effective in early 2020, the Small Business Reorganization Act (SBRA) added Subchapter V (5) to the U.S. Bankruptcy Code. Subchapter 5 bankruptcy makes it easier and less expensive for small businesses filing and restructuring through Chapter 11. At least 50% of total debt owed must be business-related (not personal bankruptcy) and single-asset debtors are excluded…

The Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was signed by President Trump on March 27, 2020. This is one of several acts that have been passed in order to provide economic and disaster relief to those severely impacted by the negative effects of COVID-19. The CARES Act not only provides emergency financial…

When you decide to declare bankruptcy in the state of North Carolina, it immediately stops all creditors from collecting debts. In cases of Chapter 7 or Chapter 13 bankruptcy, when your debts have been sorted out by law, the legal obligation to pay your debts is often eliminated or reorganized. One of the biggest myths…

Since the pandemic struck, most Americans have felt financially strained and stressed. While that’s not too surprising, what has caught experts off guard is the fact that bankruptcy filings have decreased nearly 30% since the pandemic began! One of the main reasons why bankruptcy filings have decreased is because most Americans simply don’t understand their…