Yes. As an Asheville Bankruptcy lawyer I am frequently asked by clients if they have to list all of their creditors in their petition. The simple answer is “yes.” A debtor is required to list- and give notice to- all of her creditors when she files for bankruptcy protection. Let...
Author Archives: Rod Kight
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...
Can I Keep My House if I File Chapter 7?
One of the most common questions I get from clients is whether they will be able to keep their house if they file chapter 7 bankruptcy. Luckily, this is a pretty straightforward matter. First of all, in order to keep your house you must remain current on your monthly mortgage...
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...
Will the Trustee sue my Mom if I repay her before filing bankruptcy?
It’s happened dozens of times. Here’s the scenario: I’m siting in a client meeting discussing finances and bankruptcy when my client tells me that he recently repaid his mom, dad, sister, mother-in-law, or some other close family member a large debt. When I explain that the Bankruptcy Trustee may sue...
