It depends on the transaction and how it is structured. Generally you can't avoid debts by transferring property and assets to insiders, particularly for no payment. The creditor can file an action to avoid the transfer based on several factors. Thus, if you are tranferring assets, it has to...Read more »
My wife purchased a vehicle from Drive Time before I entered the military (active duty) and her intrest rate is extremly high. 25% or so. Back then she had a job where she could afford it, but now om the only one with an imcome. I reclently found out about SCRA (service member civil relief act)... Read more »
If there is a personal guarantee of a business loan, if the business does not pay then the bank or lender can sue the guarantor. The lender, if it wins a judgment, can recover the same as in any other civil case against a debtor. NC law allows an individual person (not a corporation)to exempt...Read more »
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