Archives: May 2013

What is the difference between chapter 7 and chapter 13?

As an Asheville Bankruptcy attorney I am often asked the difference between chapter 7 and chapter 13 bankruptcy. Before I describe the differences, it is important to understand the similarities. First of all, regardless of whether you file for bankruptcy under chapter 7 or chapter 13, you will be filing bankruptcy and...

A Note About Creditor Settlements

Most creditors eventually propose a settlement amount if the debt isn’t being paid. (By the way, most creditors do NOT accept a settlement if the debt is being paid.) A creditor who accepts settlement of less than the full balance of the debt will issue you an IRS Form 1099-C...

Are personal injury proceeds protected?

I often respond to questions posed by anonymous individuals on www.avvo.com. Recently, someone asked the following question: “In NC, can a Credit Card Co with a judgement against you lien or garnish an accident injury settlement paid to you?“ Here is my response: In NC, proceeds received from a personal...