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North Carolina Bankruptcy Questions & Answers
3 Answers | Asked in Bankruptcy for North Carolina on
Q: My husband died. I can't afford the home, boat and camper that is in our names. How do I liquidate? File bankruptcy?
Damon Duncan
Damon Duncan
answered on Nov 15, 2024

You could possibly file a bankruptcy, allowing you to surrender the property and liquidate any of the loans that remain on the property. It would also wipe out credit cards, medical bills, and personal loans. However, there are a lot of moving parts so you would want to talk with someone to discuss... View More

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2 Answers | Asked in Bankruptcy for North Carolina on
Q: 20k CC debt , home free and clear ( no mortgage) I have to put as an asset( tax value 289k) can I file Chp 7 ?

Can I file 7 without house being jeopardized with liens or anything?

Lynn Ellen Coleman
Lynn Ellen Coleman
answered on Oct 22, 2024

No, your house will be taken by the Trustee and sold to pay your debts if you file Chapter 7. You can only exempt (protect from creditors) anywhere from $35,000.00 to $60,000.00 of equity in your home. PLEASE do not try and file bankruptcy without an attorney! This is a good example of how doing so... View More

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4 Answers | Asked in Bankruptcy for North Carolina on
Q: I am not married , I have 20k in credit card debt. I own my car ( value of car is less than 5k) I am on the deed

I am on the deed to home/property in which is owned free and clear was purchased with cash by him . Can I file for my debt without it affecting house / deed ?

Lynn Ellen Coleman
Lynn Ellen Coleman
answered on Oct 22, 2024

NO. Your half of the home is an asset. You need advice from a qualified North Carolina licensed attorney. Please have a personal consultation with one. Many offer free consultations. Out of state lawyers are trying to be helpful by copying and pasting our exemption statutes here on this general... View More

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1 Answer | Asked in Bankruptcy for North Carolina on
Q: What are my options to be able to get my belongings from a storage unit while in a Ch 13

I owe the storage unit money and they have filed proof of claim. I don't want to keep the unit and incur more debt but want my personal belongings that will mean nothing to anyone else. Does NC law allow me to access my belongings before the debt is paid in full? What is assuming the storage... View More

James L. Arrasmith
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answered on Oct 18, 2024

In North Carolina, when you file for Chapter 13 bankruptcy, you can propose a repayment plan to handle your debts, including what you owe to the storage unit. Since the storage facility has filed a proof of claim, they are recognized as a creditor in your bankruptcy case. However, you still have... View More

1 Answer | Asked in Bankruptcy for North Carolina on
Q: I need help with filling Bankruptcy please.

Sorry y for the overwhelming amount of info. I do really feel this is the best alternative for Me at this point. I do hope there is an attorney there who can help me. Because it's very hard for me to ask for help in the first place but this is for my family.

James L. Arrasmith
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answered on Sep 11, 2024

Filing for bankruptcy can feel overwhelming, but it's a step that many take to regain control of their financial situation. It’s important to remember that you are not alone in this process, and reaching out for help is a strong and positive action for both you and your family. There are... View More

1 Answer | Asked in Bankruptcy and Collections for North Carolina on
Q: Question of Civil Contempt of Court North Carolina for an Adminstrative Law Judge's Order of payment

I was given notice a law firm is filing civil contempt of court for not paying them $40,000 from a decision of an administrative law judge. The matter was at OAH in Raleigh. The other party's attorney and the ALJ are really good friends. They think my wife and I are loaded, but we are not. We... View More

James L. Arrasmith
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answered on Jul 27, 2024

You should gather all documentation related to the case, including the administrative law judge's order and any correspondence with the opposing attorney. Ensure you have records of your financial situation to demonstrate your inability to pay the $40,000. This can include bank statements and... View More

1 Answer | Asked in Bankruptcy, Divorce and Family Law for North Carolina on
Q: How do I keep the house if my ex files for bankruptcy?

I am divorced but I can't get my ex to finish the ED. It's been 4 years already and there's always a "reason" for it to be continued when we go to court for it.

He hasn't lived here in 5 years. I pay all the bills, live here with the kids and he is not... View More

James L. Arrasmith
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answered on Jul 2, 2024

This is a complex situation involving divorce, equitable distribution (ED), and bankruptcy law. Here's a general overview of steps you might consider, but please note that you should consult with a local attorney who specializes in both family law and bankruptcy for specific advice:

1....
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4 Answers | Asked in Bankruptcy, Consumer Law, Estate Planning and Family Law for North Carolina on
Q: Am I responsible for my wife's CC liability when she passes? South Carolina
W. J. Winterstein Jr.
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W. J. Winterstein Jr.
answered on Jun 19, 2024

You should have no direct legal liability for debts in your wife's name alone, but assuming that you are a beneficiary of her estate, to the extent that there are assets in her name, those estate debts must be paid before you receive any distribution from her estate.

Confer with...
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2 Answers | Asked in Civil Litigation, Bankruptcy and Collections for North Carolina on
Q: Someone in the family was in a fight with another person. That person may sue. What can we do to protect our money?
Tim Akpinar
Tim Akpinar
answered on Jun 10, 2024

A North Carolina attorney could advise best, but you posted a week ago. Product liability (your chosen category) attorneys don't usually get involved in the issues you describe. You'd probably want to speak with attorneys who work with asset protection, collection defense, or bankruptcy,... View More

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1 Answer | Asked in Bankruptcy and Employment Law for North Carolina on
Q: The company I work for is in receivership and clients have cancelled orders because of it. Can I get lost commissions?

The company I work at has been struggling financially for the past few years and went into receivership a few weeks ago. It is likely to be sold as 2-3 smaller companies.

Because of these issues, clients have canceled more than $1.25M in orders, causing me to loose $80,000 in commissions... View More

James L. Arrasmith
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answered on Apr 20, 2024

You can indeed file a claim for the lost commissions as a creditor in the receivership process. When a company goes into receivership, the receiver's role is to manage the company's assets and debts, which includes assessing claims from creditors, including employees who have lost income... View More

1 Answer | Asked in Bankruptcy and Collections for North Carolina on
Q: When filling out rights to have exemptions designated form, do I have to state that my house is protected by tenancy by

The entirety or is it automatically protected if the creditor attempts to place a lien on our property. I ask because technically it's not an exemption but a form of ownership. Thanks

Cristina M. Lipan
Cristina M. Lipan
answered on Jul 21, 2023

This response is assuming you are completing bankruptcy schedules.

Tenancy by entirety is not an exemption, it is only the type of ownership you have, as you mentioned.

On Schedule A/B you list your ownership interest in the Property (tenancy by the entirety).

On Schedule C...
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1 Answer | Asked in Bankruptcy and Collections for North Carolina on
Q: Is there a wildcard exemption outside of bankruptcy in NC? All of the Info I find involves claiming bankruptcy.

if someone's home is already protected by tenancy by the entirety, would that make them eligible to use the wildcard exemption because technically they did not use the homestead exemption? Thanks

Lynn Ellen Coleman
Lynn Ellen Coleman
answered on Jun 24, 2023

Yes, the "wildcard" exemption is available if the residence is protected by "tenancy by the entireties". It can be layered on top of the car exemption, tools of the trade exemption, etc. to protect excess value in those items or it can be used to protect a second vehicle, for example.

2 Answers | Asked in Bankruptcy for North Carolina on
Q: Mother filed bankruptcy in 11/21/2014 she been making payments on house since then now I found out house under bankruptc

Any thing I can do

Lynn Ellen Coleman
Lynn Ellen Coleman
answered on May 24, 2023

All debt is included in a bankruptcy. You provide no details at all about what you want to do, so I will take a few guesses. The mortgage payments do not have to be reported to the credit bureau. They do need to give her credit for the payments. Your mother should reach back out to the attorney who... View More

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2 Answers | Asked in Bankruptcy for North Carolina on
Q: My mother filed bankruptcy 7 11/21/2014 case # 14-06800-5-dmv what I need know her house was under bankruptcy she been

making payments sent then she had no idea she didn’t have make I just found out this is their any recourse I can take

Damon Duncan
Damon Duncan
answered on May 24, 2023

If I understand your question correctly, you are concerned because you feel like your mother has been making payments on a mortgage that she didn't have to make. If that's correct, it depends on whether your mother wants to keep the property. If she did (does) not want to keep the... View More

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2 Answers | Asked in Bankruptcy for North Carolina on
Q: If my husband files BK or engages the services of a debt relief agency do I have to sign on too? Thank you for your time

It's hubby's credit cards that are the problem. I'm not on any of the accounts, but will I have to sign on if he wants to do this? I'm not clear on the laws in North Carolina regarding spouses and bankruptcy or debt relief. Thank you for your time.

Damon Duncan
Damon Duncan
answered on May 24, 2023

You are not required to file a bankruptcy with your spouse. However, they will look at your income and the household expenses. As long as you are not a co-debtor on any of the debts that he will include in his bankruptcy then his filing of the bankruptcy should not have a negative impact on your... View More

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1 Answer | Asked in Bankruptcy for North Carolina on
Q: Am I liable for accounts I'm not a signer on? They are my husbands

Hubby has gotten in over his head with HIS credit cards. If he files BK or uses a credit relief plan am I liable for the debt also? I am NOT on the accounts in question. Thank you!

Timothy Denison
Timothy Denison
answered on May 23, 2023

No. You are not liable if you were never on the account. Solely his debt.

1 Answer | Asked in Bankruptcy for North Carolina on
Q: If my husband files BK or goes for debt relief, will it effect my credit score? I am not on the accounts.

My husband has gotten in over his head with his credit cards. Honestly I don't see a way out for him unless he files bankruptcy or engages a debt relief program. I am not on any of the accounts and I'm afraid my credit is going to be effected too.

Timothy Denison
Timothy Denison
answered on May 22, 2023

If you are not on the accounts, your credit should not be affected.

2 Answers | Asked in Bankruptcy for North Carolina on
Q: If I am looking to file bankruptcy and I have military disability, and I was getting pay from voc rehab but not anymore

I do not receive the pay anymore just while I was in school. I completed my degree last month.

Lynn Ellen Coleman
Lynn Ellen Coleman
answered on May 14, 2023

I'm not sure what your question is exactly, but VA disability pay does not count towards the "means test".Congress passed the "Haven Act" a few years ago. I hope this answered your question.

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1 Answer | Asked in Bankruptcy and Collections for North Carolina on
Q: What should I expect when I go to the county sherrif office for a writ of execution? I have no money to pay the judgmen

Judgement. I live in NC. My house and car are exempt. I have no savings and nothing of value. I have no bank account. I receive paper checks. I am in no position to pay or to agree to a payment plan at this time.im not concerned with interest because i am debating on claiming bankruptcy in the... View More

Lynn Ellen Coleman
Lynn Ellen Coleman
answered on Mar 20, 2023

The answer depends upon whether or not you timely filed a Motion To Claim Exempt Property to claim the exemptions in your house and particularly in your car. If you did timely file that Motion, just speak to the Sheriff and explain your situation. Most likely, the Sheriff will just return the Writ... View More

2 Answers | Asked in Bankruptcy, Civil Litigation and Landlord - Tenant for North Carolina on
Q: Renter and him filing bankruptcy

I started the eviction process on this renter. I am evicting because of breach of contract damage to home and trash.. he sent me papers today that he was in bankruptcy and I couldn’t sue for eviction any longer.. we are to go to court on Monday at the county court house but now I am thinking I... View More

W. J. Winterstein Jr.
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W. J. Winterstein Jr.
answered on Feb 15, 2023

When a bankruptcy case is filed, it triggers an "automatic stay" against any action to collect a debt against the debtor or his property.

For those who know, or should know, or constructively know, of the bankruptcy filing, and persist with collection efforts, even for possession...
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