FAQ

The 30% debt settlement myth debunked.

Will you bank take a financial haircut on your loan? There’s a myth floating around that debt collectors will settle a debt for 50% or even 30% of the amount owed because they’d rather get “something instead of nothing.” Unfortunately, that’s not always the case. As an Asheville debt settlement...

What is a chapter 20 bankruptcy?

As an Asheville bankruptcy law specialist I occasionally file chapter 20 bankruptcy cases. You might ask, “What is a chapter 20 bankruptcy case?” In fact, if you’ve read my last blog post about the various bankruptcy chapters you will reasonable say, “There’s no such chapter in the bankruptcy code!” You’re...

What are the various bankruptcy chapters?

As an Asheville bankruptcy lawyer I’m occasionally asked how many chapters there are in bankruptcy. More often, I’m asked what a bankruptcy chapter is. It’s pretty simple. The bankruptcy code is one part of the United States Code (“USC”), which encompasses all of the Federal statutes. Our federal statutes are...

Can I reaffirm my home mortgage? And if I can, should I?

As an Asheville Bankruptcy Attorney I am often asked if people should reaffirm their mortgage debt. Your mortgage company may be telling you that you need to reaffirm your mortgage debt. This is almost always incorrect, wrongheaded, and generally not a good idea. I have previously discussed reaffirmations in the...

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...