Chapter 7

Liquidation.

Chapter 11

Business Bankruptcy.

Chapter 13

Reorganization.

Your Rights

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...

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...