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		<title>How Can You Avoid Foreclosure on Your Home?</title>
		<link>https://www.lawyersforchrist.com/how-can-you-avoid-foreclosure-on-your-home/</link>
		
		<dc:creator><![CDATA[Gillespie &#38; Murphy, P.A.]]></dc:creator>
		<pubDate>Tue, 29 Oct 2024 04:04:12 +0000</pubDate>
				<category><![CDATA[Bankruptcy]]></category>
		<category><![CDATA[Firm News]]></category>
		<guid isPermaLink="false">https://www.lawyersforchrist.com/?p=14628</guid>

					<description><![CDATA[<p>The pain and fear of a possible foreclosure can make it difficult to decide where to begin. What is your goal? Do you want to keep your home, or do you want out from under your mortgage? This will depend on your personal situation: your family and your local financial prospects. Consulting a foreclosure attorney [&#8230;]</p>
<p>The post <a href="https://www.lawyersforchrist.com/how-can-you-avoid-foreclosure-on-your-home/">How Can You Avoid Foreclosure on Your Home?</a> appeared first on <a href="https://www.lawyersforchrist.com">Gillespie &amp; Murphy, P.A.</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p>The pain and fear of a possible foreclosure can make it difficult to decide where to begin. What is your goal? Do you want to keep your home, or do you want out from under your mortgage? This will depend on your personal situation: your family and your local financial prospects.</p>
<p>Consulting a foreclosure attorney can help you understand your options as a North Carolina homeowner—you may have more than you think.</p>
<h2>Your Foreclosure Warnings and Notice</h2>
<p><span style="font-weight: 400;">Although it can differ based on your lender and your circumstances, federal and state laws provide a timeline for the foreclosure process—</span></p>
<ul>
<li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">36 days after any missed payment: Federal law requires the servicer to make live contact with you to discuss any possible loan mitigation options.</span></li>
<li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">45 days delinquent: The servicer must send a letter advising you of any loss mitigation options they offer and assigning personnel to your case.</span></li>
<li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">120 days delinquent: In most cases, a lender cannot begin the foreclosure process until this point. </span><span style="font-weight: 400;">12 CFR § 1024.41.</span><span style="font-weight: 400;"> Typical NC foreclosures are nonjudicial and start with a notice of hearing filed by the lender.</span></li>
<li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">45 days before the notice of hearing: The servicer must send a letter advising you of your total itemized debt and other information regarding your options outside of foreclosure. See NC Gen. Stat. § 45‑102.</span></li>
<li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">10 days before the hearing date: You must be served with the notice of hearing. If service by publication is authorized, 20 days are permitted instead. See § 45‑21.16.</span></li>
</ul>
<p><span style="font-weight: 400;">Once you take stock of your financial situation and prospects, you must decide what is most important to you and your family. You may be able to retain your home with some sacrifice; you may prefer to sell and move on. It’s best to make these decisions together with a trusted advisor who can inform you of your options under North Carolina law.</span></p>
<h2>Saving the Home</h2>
<p>If you want to remain in your home, you have two primary options—a successful loss mitigation arrangement or a declaration of bankruptcy.</p>
<h3>Loss Mitigation</h3>
<p><span style="font-weight: 400;">Making a payment arrangement with lenders is the first hope for those struggling with mortgage payments. Typical arrangements include:</span></p>
<ul>
<li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">A forbearance period for those in exceptional circumstances, such as COVID-19-related difficulties</span></li>
<li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Modifications to the mortgage, such as extending the payment period and adding the delinquent amounts to the original loan</span></li>
<li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Partial claim—a second lien for the amount in arrears, placed on the property and payable at time of sale</span></li>
<li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Refinancing by obtaining another loan to pay off the delinquent amounts </span></li>
<li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Government-sponsored modification assistance for certain borrowers, including those with FHA loans and military service members</span></li>
</ul>
<p><span style="font-weight: 400;">However, your modification options are limited by the discretion of the lender or the terms set by the government. You will need to demonstrate financial hardship in your application. Finally, you must be able to adhere to the terms of your new agreement. Working closely with an NC foreclosure advisor can help you understand whether your modification prospects have a good chance of success.</span></p>
<h3>Bankruptcy: What Can It Do for You?</h3>
<p><span style="font-weight: 400;">Once you declare bankruptcy, almost all your creditors must halt their debt collection procedures, including foreclosure. When you reside in NC, you qualify for a homestead exemption—a certain amount of real estate that creditors cannot seize. This value amounts to:</span></p>
<ul>
<li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">$35,000 for a single person under 65</span></li>
<li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">$60,000 for a single person over 65 if they are the widow/er of a deceased joint owner of the property</span></li>
<li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">$70,000 for a married couple filing joint bankruptcy when they are both owners of the property</span></li>
<li style="font-weight: 400;" aria-level="1"><span style="font-weight: 400;">Tenants By Entirety exemption for a married couple if both names are on the deed may apply </span></li>
</ul>
<p><span style="font-weight: 400;">See NC Gen. Stat. § 1C‑1601. If your equity in your home is equal to or less than your homestead exemption, you should be able to apply for this exemption and retain your home.</span></p>
<p><span style="font-weight: 400;">Whether you can ultimately keep your home will depend on your circumstances and the type of bankruptcy you file. A </span><a href="https://www.lawyersforchrist.com/chapter-13/"><b>Chapter 13</b></a><span style="font-weight: 400;"> bankruptcy allows a reorganization of your debts and a repayment plan, which most often allows you to keep your home. However, to qualify for Chapter 13, you need an income that provides a reasonable chance of repayment. </span></p>
<p><span style="font-weight: 400;">A </span><a href="https://www.lawyersforchrist.com/chapter-7/"><b>Chapter 7</b></a><span style="font-weight: 400;"> bankruptcy liquidates your non-exempt assets to repay creditors. That may have to involve a sale of your home, but not necessarily—it will depend on the equity in the house and the complete picture of your debts and assets.</span></p>
<h2>Sales and Deeds in Lieu of Foreclosure</h2>
<p>If you do not want to remain in the house, you may be able to arrange a short sale with the lender or give them a deed in lieu of foreclosure to the property.</p>
<p>In a <a href="https://www.lawyersforchrist.com/short-sale-vs-foreclosure-whats-the-difference/">short sale</a>, you work with the lender to approve a sale of the property. The property&#8217;s purchase price will cover as much of the debt as possible. A lender may also accept a deed in lieu of foreclosure—a simple transfer of the property to the mortgage holder.</p>
<p>In both cases, the sale generally falls “short” of the amount owed. When the lender chooses to pursue the borrower for the amount left over, it seeks a deficiency judgment, but North Carolina does not always allow this. See §§ 45‑21.38, 38A.</p>
<p>Without assistance from a <a href="https://www.lawyersforchrist.com/foreclosure/">foreclosure attorney</a>, this process could result in unexpected tax obligations and other difficulties.</p>
<h2>The Counsel You Need</h2>
<p>Our team of compassionate, experienced North Carolina foreclosure and bankruptcy attorneys will be glad to talk to you about your financial outlook and your options. Call us today at <a href="tel:2526595045 ">252-659-5045 </a>to schedule your free initial case review.</p>
<p>The post <a href="https://www.lawyersforchrist.com/how-can-you-avoid-foreclosure-on-your-home/">How Can You Avoid Foreclosure on Your Home?</a> appeared first on <a href="https://www.lawyersforchrist.com">Gillespie &amp; Murphy, P.A.</a>.</p>
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		<title>What Should You Do If You Are Served with a Debt Collection Lawsuit?</title>
		<link>https://www.lawyersforchrist.com/what-should-you-do-if-you-are-served-with-a-debt-collection-lawsuit/</link>
		
		<dc:creator><![CDATA[Gillespie &#38; Murphy, P.A.]]></dc:creator>
		<pubDate>Thu, 05 Sep 2024 07:12:01 +0000</pubDate>
				<category><![CDATA[Debt Defense]]></category>
		<category><![CDATA[Firm News]]></category>
		<guid isPermaLink="false">https://www.lawyersforchrist.com/?p=14509</guid>

					<description><![CDATA[<p>Receiving legal notice of a debt collection action may be a daunting and stressful event. You can, however, handle this difficult position if you know what to do and what your rights are. Find out the crucial steps you need to take to ensure you properly respond to and defend your rights in the event [&#8230;]</p>
<p>The post <a href="https://www.lawyersforchrist.com/what-should-you-do-if-you-are-served-with-a-debt-collection-lawsuit/">What Should You Do If You Are Served with a Debt Collection Lawsuit?</a> appeared first on <a href="https://www.lawyersforchrist.com">Gillespie &amp; Murphy, P.A.</a>.</p>
]]></description>
										<content:encoded><![CDATA[<p>Receiving legal notice of a debt collection action may be a daunting and stressful event. You can, however, handle this difficult position if you know what to do and what your rights are. Find out the crucial steps you need to take to ensure you properly respond to and defend your rights in the event that you get a lawsuit for debt collection.</p>
<h2>Understanding the Debt Collection Lawsuit</h2>
<p>When a creditor or collection agency sues you in a civil court to recover an outstanding debt, this is known as a debt collection lawsuit. A summons and complaint, which inform you of the legal action and outline the allegations made against you, including the claimed debt amount, are delivered to you when you are served with a lawsuit.</p>
<p>You must treat this litigation seriously since a default judgment against you may come from your inaction. This decision can give the creditor the authority to levy your property, freeze your bank accounts, or garnish your earnings in very limited circumstances.</p>
<h2>Step 1: Carefully Review the Lawsuit Documents</h2>
<p>When you&#8217;ve been served with a debt collection lawsuit, your first step should be to carefully review all the documents you receive. These documents will include the summons, which tells you when and where to respond, and the complaint, which outlines the creditor&#8217;s claims. Pay close attention to the name of the creditor, the creditor&#8217;s attorney, the amount being claimed, and the deadline to respond.</p>
<p>Verifying the debt itself is also very important, which includes confirming that the obligation is indeed yours, making sure the amount stated is correct, and figuring out if the statute of limitations has run out. Within the statute of limitations, a creditor may lawfully file a lawsuit against you in order to collect a debt. In the event that the statute of limitations has passed, you could have a strong defense against the other party&#8217;s claim.</p>
<h2>Step 2: Responding to the Lawsuit</h2>
<p>After reviewing the lawsuit documents, your next step is to respond to the lawsuit. Your response, known as an &#8220;answer,&#8221; must be filed with the court within the time frame specified in the summons, usually 20 to 30 days. In your answer, you can admit or deny the claims made by the creditor and raise any defenses you may have.</p>
<p>Filing an answer is critical because it prevents the court from issuing a default judgment against you. Even if you believe you owe the debt, filing an answer at least gives you the opportunity to negotiate with the creditor or explore other legal options instead of receiving a default judgment against you.</p>
<h2>Step 3: Consider Your Legal Options</h2>
<p>After filing your answer, consider your legal options, which may include negotiating a settlement, filing a motion to dismiss, or even filing a counterclaim against the creditor.</p>
<h3>Negotiate a Settlement</h3>
<p>If you believe you owe the debt, one option is to negotiate a settlement with the creditor, which could involve agreeing to pay a reduced amount or setting up a payment plan. Settling the debt instead can help you avoid the costs and stress of a trial while resolving the issue in a way that is manageable for you.</p>
<h3>File a Motion to Dismiss</h3>
<p>If you have strong defenses, such as it being past the statute of limitations deadline or a lack of standing in another way by the creditor, you may consider filing a motion to dismiss the lawsuit. A motion to dismiss is a legal argument asking the court to throw out the case before it goes to trial. If successful, the lawsuit will be dismissed, and you won&#8217;t be liable for the debt.</p>
<h3>Consider Bankruptcy</h3>
<p>If you are facing multiple debt collection lawsuits or overwhelming debt, bankruptcy might be an option. However, due to the potential consequences of bankruptcy it is best to consult with a bankruptcy attorney to determine if it&#8217;s the right choice for you.</p>
<h2>Step 4: Prepare for Court</h2>
<p>If your case is not resolved through negotiation or dismissal, it may proceed to trial. Preparing for court involves gathering evidence, organizing your defenses, and presenting your case effectively.</p>
<h3>Gather Evidence</h3>
<p>Collect any relevant witness statements, as well as all relevant documents, such as credit card statements, payment records, and correspondence with the creditor or collection agency. If you have evidence that the debt is not yours or that you have already paid it, be sure to include it in your case.</p>
<h3>Practice Your Presentation</h3>
<p>Work with your attorney to prepare and ensure your case is presented effectively.<br />
Practice talking about your case and the evidence clearly and confidently. Organize your arguments logically and be prepared to respond to questions from the judge or the creditor&#8217;s attorney.</p>
<h2>Step 5: Attend the Court Hearing</h2>
<p>On the day of your court hearing, arrive early, dress appropriately, and be respectful to the court. Bring all your evidence and any witnesses you have arranged to testify. The judge will consider the evidence and arguments from both sides before making a decision. If the judge rules in your favor, the lawsuit will be dismissed, and you will not be liable for the debt. If the judge rules in favor of the creditor, you may be ordered to pay the debt, along with any additional costs or fees.</p>
<h2>Seek Legal Guidance</h2>
<p>Facing a debt collection lawsuit can be daunting, but by understanding the legal process, responding promptly, and exploring your legal defenses, you can protect your rights and work toward a favorable outcome.</p>
<p>Call <a href="https://www.lawyersforchrist.com/">Gillespie &amp; Murphy, P.A</a>. today at <a href="tel:2526595045 ">252-659-5045 </a>to schedule a consultation with our team. Taking proactive steps to seek legal guidance will help you navigate the situation with confidence and ensure that your rights are upheld.</p>
<p>The post <a href="https://www.lawyersforchrist.com/what-should-you-do-if-you-are-served-with-a-debt-collection-lawsuit/">What Should You Do If You Are Served with a Debt Collection Lawsuit?</a> appeared first on <a href="https://www.lawyersforchrist.com">Gillespie &amp; Murphy, P.A.</a>.</p>
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		<title>How Long Does It Take to Recover Financially After Filing Bankruptcy?</title>
		<link>https://www.lawyersforchrist.com/how-long-does-it-take-to-recover-financially-after-filing-bankruptcy/</link>
		
		<dc:creator><![CDATA[smbadmin]]></dc:creator>
		<pubDate>Fri, 09 Aug 2024 06:56:05 +0000</pubDate>
				<category><![CDATA[Bankruptcy]]></category>
		<category><![CDATA[Firm News]]></category>
		<guid isPermaLink="false">https://www.lawyersforchrist.com/?p=14464</guid>

					<description><![CDATA[<p>Recovering Financially After Bankruptcy The decision to file bankruptcy can be overwhelming and is often considered a last resort for individuals facing overwhelming financial challenges. While it offers relief from immediate debt pressures, the journey to financial stability post-bankruptcy varies depending on individual circumstances. Credit Score One of the most immediate and noticeable impacts of [&#8230;]</p>
<p>The post <a href="https://www.lawyersforchrist.com/how-long-does-it-take-to-recover-financially-after-filing-bankruptcy/">How Long Does It Take to Recover Financially After Filing Bankruptcy?</a> appeared first on <a href="https://www.lawyersforchrist.com">Gillespie &amp; Murphy, P.A.</a>.</p>
]]></description>
										<content:encoded><![CDATA[<h2>Recovering Financially After Bankruptcy</h2>
<p>The decision to file bankruptcy can be overwhelming and is often considered a last resort for individuals facing overwhelming financial challenges. While it offers relief from immediate debt pressures, the journey to financial stability post-bankruptcy varies depending on individual circumstances.</p>
<h2>Credit Score</h2>
<p>One of the most immediate and noticeable impacts of filing for bankruptcy is the drop in your credit score. This can be particularly dramatic if you had a relatively good credit score before filing. Chapter 7 bankruptcy stays on your credit report for up to 10 years. Chapter 13 bankruptcy stays on your credit report for up to 7 years. During this time, obtaining credit at favorable terms can be challenging but not impossible.. This negative mark can make getting new credit, securing favorable interest rates, or even renting an apartment difficult.</p>
<h2>Access to Credit</h2>
<p>Your credit access will be limited after a bankruptcy filing. Banks and credit card companies will likely view you as a high-risk borrower. If you can obtain credit, it typically comes with higher interest rates and less favorable terms. This can make securing loans for major purchases like a car or a home challenging but not impossible.</p>
<h2>Employment and Housing</h2>
<p>Bankruptcy can impact some employment opportunities and housing options, especially in roles or leases that involve financial trust. While federal law prohibits employers from discriminating against current employees based on bankruptcy status, this protection does not extend to hiring practices. Some employers may consider your financial history when making hiring decisions, particularly for roles that involve financial responsibilities or require security clearances. However, a bankruptcy can, in some situations, help you maintain a security clearance or obtain a security clearance. It&#8217;s important to be prepared to discuss your bankruptcy openly and frame it as a step toward financial responsibility and recovery. Bankruptcy can also affect your housing options. Landlords regularly conduct credit checks as part of the rental application process, and a recent bankruptcy filing can be a red flag. You may find it more difficult to secure rental housing immediately after filing for bankruptcy. Being upfront with potential landlords, offering a higher security deposit, or providing references may help mitigate their concerns.</p>
<h2>Steps for Rebuilding Credit</h2>
<p>Rebuilding credit is a critical step in recovering financially after bankruptcy. It involves establishing a pattern of responsible financial behavior, such as paying bills on time, using credit wisely, and maintaining low debt levels. Secured credit cards or credit-builder loans can be helpful tools in rebuilding credit gradually.</p>
<h3>Pay Your Bills on Time</h3>
<p>Maintaining a clean post-bankruptcy credit record is crucial. A key aspect is paying all your bills on time. Even minor lapses can significantly affect your credit recovery. To avoid this, carefully monitor every expenditure to ensure you don&#8217;t exceed your budget. Your bill payment history is a critical factor in determining your credit score.</p>
<h3>Keep a Bank Balance</h3>
<p>Opening and maintaining checking and savings accounts is also important for financial recovery. A history of charged-off bank accounts can make it difficult to open new accounts. Fortunately, many banks offer second-chance programs for those who need them. Keeping a positive balance in your accounts demonstrates to employers and creditors that you have a reliable cash flow, further supporting your financial stability.</p>
<h3>Start to Rebuild Your Credit</h3>
<p>During bankruptcy, it&#8217;s important to begin rebuilding your credit. One effective way to do this is to get a credit card and create a pattern of responsible use to demonstrate your financial discipline to lenders. This slow but steady approach can help repair your damaged credit history.</p>
<p>If you don&#8217;t qualify for a regular credit card, consider applying for a secured one. This card type requires you to keep a certain amount of money on deposit with the issuing bank. Responsible use of a secured card can eventually lead to eligibility for a regular credit card.</p>
<p>If you begin to accumulate debt, stop using your credit card immediately and create a repayment plan. Make purchases with cash or a debit card until the balance is paid off. Remember that any credit card you qualify for will likely have a higher interest rate than the average.</p>
<h3>Find Help for Car Loans and Mortgages</h3>
<p>Securing financing for a car or a home after bankruptcy can be challenging, but it&#8217;s not impossible. One effective way to secure a car loan or mortgage post-bankruptcy is to have a cosigner. A cosigner is a family member or close friend with good credit who agrees to take repsonibilty for the loan if you fail to make payments. Having a cosigner can improve your chances for approval and help you secure better interest rates and loan terms. However, it&#8217;s essential to remember that your cosigner&#8217;s credit will be impacted if you miss payments or default on the loan.</p>
<h2>Emotional and Psychological Impact</h2>
<p>Filing for bankruptcy can have an emotional and psychological toll. Feelings of shame, guilt, and stress are common as you navigate the financial and personal implications of bankruptcy. It&#8217;s crucial to seek support from friends, family, or a professional counselor to help manage these feelings as you work toward financial recovery.</p>
<h2>Reclaim Your Financial Future with Gillespie &amp; Murphy, P.A.</h2>
<p>Are you overwhelmed by debt and don&#8217;t know where to turn? At <a href="https://www.lawyersforchrist.com">Gillespie &amp; Murphy, P.A.</a>, we understand the stress and anxiety that comes with financial problems. Whether you&#8217;re considering Chapter 7 or Chapter 13 bankruptcy, we&#8217;ll help you choose the best option. Our team is here to guide you through every step of the process, helping you regain financial stability and peace of mind. Don&#8217;t let debt control your life any longer. We will also discuss options available to you to start rebuilding your credit. We will also provide information concerning the purchase of vehicles and homes after bankruptcy. Contact us today at <a href="tel:2526595045">252-659-5045</a> for a free consultation and begin your journey to financial stability.</p>
<p>The post <a href="https://www.lawyersforchrist.com/how-long-does-it-take-to-recover-financially-after-filing-bankruptcy/">How Long Does It Take to Recover Financially After Filing Bankruptcy?</a> appeared first on <a href="https://www.lawyersforchrist.com">Gillespie &amp; Murphy, P.A.</a>.</p>
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		<title>What Steps Should You Take to Manage Medical Debt Before Considering Bankruptcy?</title>
		<link>https://www.lawyersforchrist.com/what-steps-should-you-take-to-manage-medical-debt-before-considering-bankruptcy/</link>
		
		<dc:creator><![CDATA[Gillespie &#38; Murphy, P.A.]]></dc:creator>
		<pubDate>Tue, 02 Jul 2024 10:33:30 +0000</pubDate>
				<category><![CDATA[Bankruptcy]]></category>
		<category><![CDATA[Firm News]]></category>
		<guid isPermaLink="false">https://www.lawyersforchrist.com/?p=14389</guid>

					<description><![CDATA[<p>What Steps Should I Take to Manage My Medical Debt? Medical debt can be overwhelming. However, there are several steps you can take to manage your medical debt before considering bankruptcy. Firstly, review your medical bills thoroughly. Medical billing errors are not uncommon, and you might be charged for services you didn&#8217;t receive or billed [&#8230;]</p>
<p>The post <a href="https://www.lawyersforchrist.com/what-steps-should-you-take-to-manage-medical-debt-before-considering-bankruptcy/">What Steps Should You Take to Manage Medical Debt Before Considering Bankruptcy?</a> appeared first on <a href="https://www.lawyersforchrist.com">Gillespie &amp; Murphy, P.A.</a>.</p>
]]></description>
										<content:encoded><![CDATA[<h2>What Steps Should I Take to Manage My Medical Debt?</h2>
<p><a href="https://www.lawyersforchrist.com/medical-debt-lawyers-nc/">Medical debt</a> can be overwhelming. However, there are several steps you can take to manage your medical debt before considering bankruptcy.</p>
<p>Firstly, review your medical bills thoroughly. Medical billing errors are not uncommon, and you might be charged for services you didn&#8217;t receive or billed more than you should have been.</p>
<p>Secondly, you can negotiate your medical bills. Many healthcare providers are willing to work with patients who are struggling to pay their bills. They might offer a payment plan, reduce the amount you owe, or even forgive some of your debt. Don&#8217;t be afraid to ask for help; it&#8217;s better to negotiate than to ignore the bills and let them pile up.</p>
<p>Thirdly, consider applying for financial aid or charity care programs. Many hospitals and healthcare providers offer these programs to help patients who can&#8217;t afford their medical bills. You might qualify based on your income, family size, and other factors.</p>
<p>Lastly, you can consolidate your medical debt. This involves taking out a loan to pay off all your medical bills, then making monthly payments on the loan.</p>
<h2>What Are the North Carolina Laws Regarding Medical Debt?</h2>
<p>In North Carolina, medical debt is treated as a civil matter, not a criminal one. This means you can&#8217;t be arrested or jailed for not paying your medical bills. However, healthcare providers can sue you for unpaid bills, and if they win, they can garnish your wages for certain medical debt or put a lien on your home or land or other real property.</p>
<p>North Carolina law also has a <a href="https://legal-dictionary.thefreedictionary.com/statute+of+limitations">statute of limitations</a> on medical debt. This is the amount of time a healthcare provider has to sue you for unpaid bills. In North Carolina, the statute of limitations for medical debt is three years from the date of the last payment.</p>
<h2>What Are the Consequences of Not Paying My Medical Debt?</h2>
<p>If you fail to pay your medical debt, the consequences can be severe. Initially, your healthcare provider or their billing company will likely send you reminders and then more formal demand letters. If you still don&#8217;t pay, they may turn your account over to a collection agency. This can negatively impact your credit score, making it more difficult for you to get loans or credit cards in the future.</p>
<p>In North Carolina, if you don&#8217;t pay your medical debt, the healthcare provider can sue you. If they win the lawsuit, they can garnish your wages for certain medical debt, meaning they can take a portion of your income directly from your paycheck to pay off the debt. They can also put a lien on your home, land or other real property, which means they have a legal claim to it until the debt is paid.</p>
<p>However, North Carolina law protects certain assets from being seized to pay off medical debt. This includes your primary residence (up to $35,000 in value), your car (up to $3,500 in value), and up to $5,000 worth of household goods. These are called exemptions and can be best explained by a North Carolina attorney.</p>
<h3>What Should I Do If I&#8217;m Sued for Medical Debt?</h3>
<p>If you&#8217;re sued for medical debt in North Carolina, respond to the lawsuit promptly. Ignoring it won&#8217;t make it go away; in fact, it could result in a default judgment against you, which means the healthcare provider automatically wins the lawsuit. You should consult with an experienced attorney as soon as possible.</p>
<p>If you&#8217;re sued, you might be able to defend yourself by challenging the amount of the debt or the healthcare provider&#8217;s right to collect it.</p>
<h3>Should I Consider Bankruptcy to Manage My Medical Debt?</h3>
<p>Bankruptcy should be a last resort for managing medical debt, but in some cases, it might be the best option. If your medical debt is so overwhelming that you can&#8217;t afford to pay it off, even with a payment plan or financial aid, bankruptcy might provide a way out.</p>
<p>Bankruptcy can have consequences. An experienced attorney can help you understand the pros and cons of the two types of personal bankruptcy, <a href="https://www.lawyersforchrist.com/chapter-7/">Chapter 7</a> and Chapter 13, and decide if one of these is the right choice for you.</p>
<h2>Can Medical Debt Be Erased?</h2>
<p>In some cases, medical debt can be erased or forgiven. Some healthcare providers offer charity care programs that can forgive a portion or all of your medical debt if you meet certain income and asset criteria.</p>
<p>If your medical debt is sold to a collection agency, there&#8217;s a chance it could be erased. Some collection agencies buy medical debt for pennies on the dollar and then try to collect the full amount from the patient. If they&#8217;re unable to collect, they might eventually write off the debt as a loss.</p>
<p>However, having debt erased can have tax implications. The IRS generally considers forgiven or discharged debt as income, and you may have to pay taxes on it.</p>
<h2>How Can an Experienced Attorney Help Me Manage My Medical Debt?</h2>
<p>An attorney can explain the statute of limitations, what assets are protected, and what happens if you&#8217;re sued for unpaid medical bills.</p>
<p>If you&#8217;re considering bankruptcy, an attorney can guide you through the process, which can be complex and confusing without legal assistance. Managing medical debt can be stressful and overwhelming, but you don&#8217;t have to do it alone.</p>
<p>If you&#8217;re struggling with medical debt, call Gillespie &amp; Murphy, P.A. today at <a href="tel:2526595045">252-659-5045</a> for a free consultation.</p>
<p>The post <a href="https://www.lawyersforchrist.com/what-steps-should-you-take-to-manage-medical-debt-before-considering-bankruptcy/">What Steps Should You Take to Manage Medical Debt Before Considering Bankruptcy?</a> appeared first on <a href="https://www.lawyersforchrist.com">Gillespie &amp; Murphy, P.A.</a>.</p>
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		<title>How Can Chapter 11 Bankruptcy Help Save Your Business from Financial Collapse?</title>
		<link>https://www.lawyersforchrist.com/how-can-chapter-11-bankruptcy-help-save-your-business-from-financial-collapse/</link>
		
		<dc:creator><![CDATA[Gillespie &#38; Murphy, P.A.]]></dc:creator>
		<pubDate>Wed, 05 Jun 2024 00:00:41 +0000</pubDate>
				<category><![CDATA[Bankruptcy]]></category>
		<category><![CDATA[Firm News]]></category>
		<guid isPermaLink="false">https://www.lawyersforchrist.com/?p=14340</guid>

					<description><![CDATA[<p>Have You Decided That Your Business Must Declare Bankruptcy? If your North Carolina business owes more than it can pay, you may be able to save the business, but you will have to move forward cautiously, and you will need the insights and advice that a North Carolina Chapter 11 bankruptcy attorney can provide. Throughout [&#8230;]</p>
<p>The post <a href="https://www.lawyersforchrist.com/how-can-chapter-11-bankruptcy-help-save-your-business-from-financial-collapse/">How Can Chapter 11 Bankruptcy Help Save Your Business from Financial Collapse?</a> appeared first on <a href="https://www.lawyersforchrist.com">Gillespie &amp; Murphy, P.A.</a>.</p>
]]></description>
										<content:encoded><![CDATA[<h2>Have You Decided That Your Business Must Declare Bankruptcy?</h2>
<p><span style="font-weight: 400;">If your North Carolina business owes more than it can pay, you may be able to save the business, but you will have to move forward cautiously, and you will need the insights and advice that a </span><a href="https://www.lawyersforchrist.com/chapter-11/"><b>North Carolina Chapter 11 bankruptcy attorney</b></a> <span style="font-weight: 400;">can provide.</span></p>
<p><span style="font-weight: 400;">Throughout the nation, business bankruptcies are increasing. Businesses, including scores of businesses in North Carolina, filed more than 18,000 bankruptcies in the United States in 2023.</span></p>
<p><span style="font-weight: 400;">However, a bankruptcy filing can have serious negative consequences for your business, and you may have other, better options. Before your business files for bankruptcy, schedule a consultation to discuss those options with a </span><a href="https://www.lawyersforchrist.com/what-should-you-know-before-your-business-files-for-bankruptcy/"><b>North Carolina Chapter 11 bankruptcy lawyer</b></a><span style="font-weight: 400;">.</span></p>
<p><span style="font-weight: 400;">If bankruptcy is your only practical alternative, you and your lawyer may decide to file a Chapter 7, Chapter 11, or Chapter 13 bankruptcy. Chapters 7, 11, and 13 are chapters in the U.S. Bankruptcy Code, the federal laws governing bankruptcy in the United States.</span></p>
<h2>What Type of Bankruptcy Should You Choose?</h2>
<p>A Chapter 7 business bankruptcy will shut down your business. You will be required to liquidate the assets of your business in order to pay as much as possible of what the business owes to its creditors.</p>
<p>Personal consumer debt bankruptcies are usually filed as Chapter 7 or Chapter 13 bankruptcies, but a Chapter 13 bankruptcy can also be filed for a sole proprietorship. This type of bankruptcy can reduce your debt and reorganize it for monthly payments your sole proprietorship can afford.</p>
<p>Usually, however, the best choice for a business bankruptcy is a Chapter 11 bankruptcy, which also lets you reorganize your operation and remain in business. Typically, Chapter 11 is used by businesses that have accumulated debt over the maximum debt limit for Chapter 13 bankruptcies.</p>
<h2>What Happens When a Business Files a Chapter 11 Bankruptcy?</h2>
<p>Chapter 11 bankruptcies are most frequently filed by partnerships and corporations, but a sole proprietorship may also file for a Chapter 11 bankruptcy. The chief aim of a Chapter 11 bankruptcy is to maintain a viable business entity by reorganizing the company’s debt structure.</p>
<p>When a business files for bankruptcy under Chapter 11, the court issues an automatic stay that prevents creditors from harassing you or taking action against your business during the bankruptcy process. During that process, you’ll need the bankruptcy court’s consent to sell assets (except for inventory), to agree to or terminate a lease, or to expand or halt business operations.</p>
<p>Also during that process, the bankruptcy court decides when and if your business may enter into a contract with a union or a vendor, and the business may not arrange to obtain a loan that will begin after the bankruptcy process concludes.</p>
<h2>How Does Chapter 11 Reorganization Work?</h2>
<p>As a business owner filing a Chapter 11 bankruptcy, you will have the opportunity to propose a debt reorganization plan that must be approved by the bankruptcy court. Such a plan may include the renegotiation of your debts or downsizing your operations in order to reduce your costs.</p>
<p>In some cases, your reorganization plan may involve the liquidation of business assets in order to pay creditors. If your proposed debt reorganization plan is deemed fair and feasible, the bankruptcy court will approve it, and the bankruptcy will proceed.</p>
<p>Allowing a business to continue its operations lets the business generate cash flow that helps with the repayment process. The bankruptcy court also issues an automatic stay that prevents creditors from harassing you or taking collection actions during the bankruptcy process.</p>
<h2>What Else Should You Know About Chapter 11 Bankruptcy?</h2>
<p>Most creditors will cooperate with a Chapter 11 reorganization plan because they are more likely to be paid than if your company simply goes out of business. However, business owners need to understand that a Chapter 11 bankruptcy is quite complicated and time-consuming.</p>
<p>Thus, business owners in North Carolina should consider a Chapter 11 bankruptcy only after they have discussed their alternatives with a North Carolina Chapter 11 bankruptcy attorney.</p>
<p>A Chapter 11 bankruptcy involves disclosures, audits, hearings, and more. Merely preparing a debt reorganization plan may take months. The law imposes no time limit for completing a Chapter 11 repayment plan, but for most companies, it will take from six months to two years.</p>
<h2>How Will the Right Bankruptcy Lawyer Help You?</h2>
<p>If you are a business owner, the right North Carolina Chapter 11 bankruptcy lawyer can answer all of your questions about bankruptcy, address your concerns, and provide you with specific bankruptcy advice based on your personal and business circumstances.</p>
<p>It is essential to disclose all of the relevant financial information about your business to your bankruptcy lawyer and to the bankruptcy court. Any failure to disclose that information can lead to serious negative legal and financial consequences.</p>
<p>In the best scenario, a business that files a Chapter 11 bankruptcy may continue in business throughout the reorganization process until it emerges from that process ready for success with a fresh financial start.</p>
<p>But with thousands of attorneys practicing in this state, how does a North Carolina business owner locate an experienced and dedicated attorney who provides the trustworthy bankruptcy insights, guidance, and advice you may need?</p>
<h2>Let Gillespie &amp; Murphy Advise You and Handle Your Business Bankruptcy</h2>
<p>If you are a North Carolina business owner who is struggling with business debts or considering a business bankruptcy, the award-winning bankruptcy lawyers at Gillespie &amp; Murphy will explain your alternatives and find the option that’s best for you and your business.</p>
<p>We help businesses as well as families and individuals who have accumulated debts that they cannot pay. If a Chapter 11 bankruptcy is the right option for you and your business, an attorney at Gillespie &amp; Murphy will prepare the legal documents and guide you through the process.</p>
<p>Before you make a decision about a business bankruptcy, contact Gillespie &amp; Murphy by calling <a href="tel:2526595045">252-659-5045</a> to arrange for a low-cost, no-obligation legal consultation. We will use every available tool to help you reorganize your debts, remain in business, and prosper in the future.</p>
<p>The post <a href="https://www.lawyersforchrist.com/how-can-chapter-11-bankruptcy-help-save-your-business-from-financial-collapse/">How Can Chapter 11 Bankruptcy Help Save Your Business from Financial Collapse?</a> appeared first on <a href="https://www.lawyersforchrist.com">Gillespie &amp; Murphy, P.A.</a>.</p>
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		<title>The Role of Debt Defense Attorneys in Reshaping Your Debt Resolution Strategy</title>
		<link>https://www.lawyersforchrist.com/the-role-of-debt-defense-attorneys-in-reshaping-your-debt-resolution-strategy/</link>
		
		<dc:creator><![CDATA[Gillespie &#38; Murphy, P.A.]]></dc:creator>
		<pubDate>Tue, 14 May 2024 08:29:35 +0000</pubDate>
				<category><![CDATA[Debt Defense]]></category>
		<category><![CDATA[Firm News]]></category>
		<guid isPermaLink="false">https://www.lawyersforchrist.com/?p=14304</guid>

					<description><![CDATA[<p>Have You Accumulated Debts That You Can’t Pay? If you are facing overwhelming debts, you certainly are not alone. However, it may be time to discuss your debt problem – and your options for resolving that problem – with a North Carolina debt defense attorney. The average debt owed by a household in the United [&#8230;]</p>
<p>The post <a href="https://www.lawyersforchrist.com/the-role-of-debt-defense-attorneys-in-reshaping-your-debt-resolution-strategy/">The Role of Debt Defense Attorneys in Reshaping Your Debt Resolution Strategy</a> appeared first on <a href="https://www.lawyersforchrist.com">Gillespie &amp; Murphy, P.A.</a>.</p>
]]></description>
										<content:encoded><![CDATA[<h2>Have You Accumulated Debts That You Can’t Pay?</h2>
<p>If you are facing overwhelming debts, you certainly are not alone. However, it may be time to discuss your debt problem – and your options for resolving that problem – with a <a href="https://www.lawyersforchrist.com/debt-defense/">North Carolina debt defense attorney</a>.</p>
<p>The average debt owed by a household in the United States – including mortgages, student loans, credit cards, auto loans, and medical debts – exceeds $100,000. Mortgages constitute most of that debt, but North Carolina households also average more than $7,000 in credit card debt alone.</p>
<p>If you’ve extensively used a credit card or you’ve borrowed a large sum, the consequences may be serious if you can’t pay the debt. Harassment by a collection agency is only the start. Many in North Carolina have their vehicles repossessed, their homes foreclosed, or their wages garnished.</p>
<p>Is filing for bankruptcy the right way to deal with your debt problem? More than 7,000 personal bankruptcy cases were filed in North Carolina in 2023, but if your debts are overwhelming you, bankruptcy may or may not be your best or only option.</p>
<p>Eventually, your debt problems can be resolved, but it can’t happen until you decide to take action. If you are having trouble paying your debts, you need the services and advice of a <a href="https://www.lawyersforchrist.com/what-are-a-debtors-rights-under-north-carolinas-debt-defense-laws/">North Carolina debt defense lawyer</a>, and you need to contact that lawyer as quickly as possible.</p>
<h2>What Are Your Debt Resolution Options?</h2>
<p>A North Carolina debt defense attorney will be familiar with a number of debt resolution options and strategies, and a debt defense attorney knows how to persuade creditors to work with you. One of the options for resolving your debts is called “debt restructuring.”</p>
<p>For most consumers, debt restructuring involves asking your creditors to extend the due dates for your payments, reduce your interest rates, or both.</p>
<p>Debt restructuring usually benefits both parties. It allows your creditors to receive more than they would receive if you were to file for bankruptcy, and debt restructuring also lets you avoid bankruptcy.</p>
<p>Bankruptcy is also an option for some individuals. Bankruptcy allows you to immediately end creditor harassment by discharging your debts. You will get a clean slate that allows you to move forward in life without your debt weighing on your shoulders. Our debt defense attorneys can speak with you about your options under your specific circumstances.</p>
<h2>When Should You Seek Debt Relief?</h2>
<p>It’s hard to know when to reach out to a legal professional about your debt. Some people believe they can continue paying their debts forever, dodging creditors and collectors until the end of time. Unfortunately, this is not a good strategy.</p>
<p>If any of the following is true, it’s time to reach out to our team of debt defense attorneys:</p>
<ul>
<li>The total of your debt is half or more of your gross income.</li>
<li>You have no hope of repaying unsecured debt within 5 years, even if you go on an extreme budget.</li>
<li>If you are taking cash advances to pay pay debts</li>
<li>If you are transferring credit card balances from one credit card to another.</li>
<li>If you&#8217;re only paying the minimum payment on credit cards and the balances are not being reduced significantly.</li>
<li>If you&#8217;re having to pay for necessities on credit cards thus incurring more debt every month.</li>
</ul>
<p>Our team can talk to you about your debt relief options and how to pay back or get rid of your debt. We will evaluate your financial status by examining your secured and unsecured debt to determine the best path forward for you. For more information, contact our law office today.</p>
<h2>Should You Avoid Debt Settlement Companies?</h2>
<p>Most debt settlement companies charge a costly fee upfront or have monthly fees that are not always explained. Creditors know that debt settlement companies lack any authority to take legal action or to stop a creditor from taking legal action against you. Do not put your future in the hands of a company that can’t stop your creditors from collecting from you and harassing you.</p>
<p>A debt defense attorney can help you decide on the best option for resolving your debts. Your debt attorney can discuss the advantages and drawbacks of each option and help you decide on the debt resolution alternative that best addresses your personal and financial needs.</p>
<h2>What About the Bankruptcy Option?</h2>
<p>While bankruptcy may seem like an extreme option, it can be life-changing for some people. Bankruptcy immediately stops debt collection efforts, eliminates unsecured debt, and lets you reorganize your finances and pay off your remaining debts including secured debt such as cars and houses.</p>
<p>Bankruptcy is not for everyone who is struggling to pay debts. It is an option to consider and in some cases it may be the last option. For most consumers in North Carolina, bankruptcy reduces a credit score of 700 or above by at least 150-200 points. A credit score in the 680 range may be reduced 100-150 points. However, in some situations bankruptcy can actually allow someone to rebuild their credit faster than they might otherwise be able to do. There are steps that can be taken during a bankruptcy and after a bankruptcy discharge that allows someone to rebuild their credit over 12 to 24 months.</p>
<p>Bankruptcy offers strong, immediate protection from creditor lawsuits, foreclosure, repossession, wage garnishment, and harassment by collection agencies, but you must be assisted through the bankruptcy process by a North Carolina bankruptcy lawyer. Your lawyer will ensure that your legal paperwork is complete and accurate when you file it with the bankruptcy court.</p>
<h2>Gillespie &amp; Murphy Will Help You Deal With Your Debts</h2>
<p>Gillespie &amp; Murphy is a team of award-winning debt defense and bankruptcy lawyers who work for both families and individuals. Since 1991, we’ve used our legal knowledge and skills to help clients throughout Eastern North Carolina get out of debt, and we’re ready to work for you.</p>
<p>If you are sued for a debt, contact Gillespie &amp; Murphy as quickly as possible by calling 252-659-5045. We will explain your consumer rights, review your options for resolving your debts, and if necessary, help you file for bankruptcy and comply with the bankruptcy requirements.</p>
<p>With more than thirty years of experience, we know how to resolve the most difficult debt situations. To learn more about negotiating with creditors and resolving your debts – or to get started today – call Gillespie &amp; Murphy now at <a href="tel:2526595045">252-659-5045</a></p>
<p>The post <a href="https://www.lawyersforchrist.com/the-role-of-debt-defense-attorneys-in-reshaping-your-debt-resolution-strategy/">The Role of Debt Defense Attorneys in Reshaping Your Debt Resolution Strategy</a> appeared first on <a href="https://www.lawyersforchrist.com">Gillespie &amp; Murphy, P.A.</a>.</p>
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		<title>How Can Chapter 7 Bankruptcy Offer a Fresh Financial Start?</title>
		<link>https://www.lawyersforchrist.com/how-can-chapter-7-bankruptcy-offer-a-fresh-financial-start/</link>
		
		<dc:creator><![CDATA[Gillespie &#38; Murphy, P.A.]]></dc:creator>
		<pubDate>Mon, 01 Apr 2024 05:37:03 +0000</pubDate>
				<category><![CDATA[Bankruptcy]]></category>
		<category><![CDATA[Firm News]]></category>
		<guid isPermaLink="false">https://www.lawyersforchrist.com/?p=14218</guid>

					<description><![CDATA[<p>What is a Chapter 7 Bankruptcy? If your bills are going unpaid and your debts are mounting up, or if you’re receiving rude calls at all hours from debt collectors, you may wonder if bankruptcy is the answer for you. You can get the insights you need by discussing your situation with a North Carolina [&#8230;]</p>
<p>The post <a href="https://www.lawyersforchrist.com/how-can-chapter-7-bankruptcy-offer-a-fresh-financial-start/">How Can Chapter 7 Bankruptcy Offer a Fresh Financial Start?</a> appeared first on <a href="https://www.lawyersforchrist.com">Gillespie &amp; Murphy, P.A.</a>.</p>
]]></description>
										<content:encoded><![CDATA[<h2>What is a Chapter 7 Bankruptcy?</h2>
<p><span style="font-weight: 400;">If your bills are going unpaid and your debts are mounting up, or if you’re receiving rude calls at all hours from debt collectors, you may wonder if bankruptcy is the answer for you. You can get the insights you need by discussing your situation with a </span><a href="https://www.lawyersforchrist.com/chapter-7/"><b>North Carolina bankruptcy attorney</b></a><span style="font-weight: 400;">.</span></p>
<p><span style="font-weight: 400;">For some people who are facing overwhelming debts in this state, bankruptcy is the only practical option, but is bankruptcy the right choice for you? A </span><a href="https://www.lawyersforchrist.com/bankruptcy-faqs/"><b>North Carolina bankruptcy lawyer</b></a><span style="font-weight: 400;"> can examine your financial situation and help you make the right decisions.</span></p>
<p><span style="font-weight: 400;">If you have never filed for bankruptcy, some definitions may be helpful. A personal bankruptcy is usually a “Chapter 7” or “Chapter 13” bankruptcy. Chapters 13 and 7 are two of the chapters in the U.S. Bankruptcy Code, the federal laws that govern bankruptcy in the United States.</span></p>
<h2>What Should You Know About Chapter 7 Bankruptcies?</h2>
<p>Most people who file for personal bankruptcy prefer to file a Chapter 7 bankruptcy. This eliminates all of a person’s unsecured debts including credit card debt, unsecured loans and medical debt, as well as eliminates some IRS and state tax debt if it meets certain criteria.</p>
<p>More than 225,000 Chapter 7 bankruptcies were filed in the United States in 2022. However, not everyone who needs to file for bankruptcy will qualify under Chapter 7.</p>
<p>What is required for a Chapter 7 bankruptcy, who qualifies, and how does a Chapter 7 bankruptcy differ from a Chapter 13 bankruptcy? The most important difference is that you must pass a means test in order to file for bankruptcy under Chapter 7.</p>
<h2>What is the Purpose of the Chapter 7 Means Test?</h2>
<p>The means test prevents persons with a high income from qualifying for a Chapter 7 bankruptcy. Those individuals may file for a Chapter 13 bankruptcy, but under Chapter 13, they have to repay a portion of their debts, while a Chapter 7 bankruptcy entirely erases someone’s unsecured debts.</p>
<p>However, if your expenses are sizable, you may still be allowed to file for a Chapter 7 bankruptcy even though your monthly income is also quite sizable.</p>
<h2>How Does the Means Test Work?</h2>
<p>The means test was established to limit Chapter 7 bankruptcies solely to those who cannot pay any of their debts. The means test determines someone’s disposable monthly income. The higher that figure is, the more likely it is that person will not qualify for bankruptcy under Chapter 7.</p>
<p>The first part of the means test indicates whether your income is above or below the North Carolina median income. If your income surpasses the median income for your household size in the county you live in, the test then determines if you have adequate disposable income to pay a portion of your debts.</p>
<h2>What Are the Median Incomes in North Carolina?</h2>
<p>Median incomes in North Carolina are calculated annually. As of November 2023, the annual median incomes for North Carolina households are:</p>
<ol>
<li> for one-person households: $59,367</li>
<li> for two-person households: $75,315</li>
<li> for three-person households: $86,408</li>
<li> for four-person households: $105,257</li>
<li> for five-person households: $115,157</li>
<li> for six-person households: $125,057</li>
</ol>
<p>{The above annual median income may vary from county to county throughout the state of North Carolina based upon population and median income in those counties}</p>
<h2>Is a Chapter 7 Bankruptcy Right for You?</h2>
<p>Satisfying the income requirement for Chapter 7 does not necessarily mean that you should file for bankruptcy under Chapter 7. It only means that you can. And if a Chapter 7 bankruptcy is right for you, satisfying the income qualification is only the first of several requirements.</p>
<p>If your household income exceeds the median income, and if your “disposable” income is adequate to pay at least a portion of your unsecured debts, you will probably be disqualified for bankruptcy under Chapter 7. Your remaining option is filing for a Chapter 13 bankruptcy.</p>
<p>Resolving your debts begins when you schedule a consultation with a North Carolina bankruptcy attorney. After meeting with you and reviewing your situation, your attorney may recommend a Chapter 7 bankruptcy, a Chapter 13 bankruptcy, or an option that doesn’t involve bankruptcy.</p>
<h2>How Can Bankruptcy Help You?</h2>
<p>Upon filing for bankruptcy, the court issues an automatic stay. It’s a court order that stops creditors from pursuing you for credit card debt, medical debt, and most other consumer debt. Automatic stays stop wage garnishments, foreclosures, repossessions, and lawsuits brought by creditors.</p>
<p>However, when you file for bankruptcy under Chapter 7 you need to determine if your assets such as your home, vehicles, boats, tools etc… are protected and not subject to being sold by the chapter 7 trustee. This analysis is performed by a North Carolina bankruptcy attorney to properly protect those assets.</p>
<p>At the end of the bankruptcy process, the court discharges your unsecured debts. However, you may still owe debts – for taxes, child support, or a student loan, for example – that are not discharged in the Chapter 7 bankruptcy process.</p>
<h2>Do You Need a Fresh Financial Start?</h2>
<p>If you need the protection that bankruptcy offers, don’t wait another day. Bankruptcy laws can be quite confusing, so you must have bankruptcy advice and guidance from a reliable North Carolina bankruptcy lawyer.</p>
<p>Bankruptcy is the legal and responsible way to gain a financial “clean slate” and a fresh financial start, but the bankruptcy process is not easy. Filing for bankruptcy is almost always someone’s last resort.</p>
<p>Nevertheless, with the right lawyer’s help, bankruptcy is nothing to fear. You will emerge from the bankruptcy process with a clean financial slate. You’ll be allowed to reestablish your credit and move positively and constructively into the future.</p>
<h2>Gillespie &amp; Murphy Offers the Reliable Help You Need</h2>
<p>For more than three decades, the legal team at Gillespie &amp; Murphy has been providing bankruptcy advice, guiding clients through the bankruptcy process, and helping clients understand their options for resolving their debts.</p>
<p>Our award-winning attorneys help North Carolina families and individuals who are dealing with foreclosure, repossession, a wage garnishment, or other debt-related legal matters. If a Chapter 7 bankruptcy is right for you, let Gillespie &amp; Murphy handle the paperwork and guide you through the process.</p>
<p>We have offices throughout Eastern North Carolina. Before you make the decision to file for bankruptcy, call Gillespie &amp; Murphy at 252-659-5045 for a no-cost, no-obligation legal consultation. We will determine the best way to resolve your debts and help you with a fresh financial start.</p>
<p>The post <a href="https://www.lawyersforchrist.com/how-can-chapter-7-bankruptcy-offer-a-fresh-financial-start/">How Can Chapter 7 Bankruptcy Offer a Fresh Financial Start?</a> appeared first on <a href="https://www.lawyersforchrist.com">Gillespie &amp; Murphy, P.A.</a>.</p>
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		<title>The Difference Between Chapter 7 and Chapter 13 Bankruptcy in North Carolina</title>
		<link>https://www.lawyersforchrist.com/the-difference-between-chapter-7-and-chapter-13-bankruptcy-in-north-carolina/</link>
		
		<dc:creator><![CDATA[Gillespie &#38; Murphy, P.A.]]></dc:creator>
		<pubDate>Mon, 11 Mar 2024 08:39:17 +0000</pubDate>
				<category><![CDATA[Bankruptcy]]></category>
		<category><![CDATA[Firm News]]></category>
		<guid isPermaLink="false">https://www.lawyersforchrist.com/?p=14087</guid>

					<description><![CDATA[<p>Are There Different Ways to File for Bankruptcy?  your debts are out of control and your bills are piling up, or if you are facing an imminent foreclosure or repossession, you should immediately consult a North Carolina bankruptcy attorney to discuss bankruptcy and your other options for resolving your debts. If you get confused when [&#8230;]</p>
<p>The post <a href="https://www.lawyersforchrist.com/the-difference-between-chapter-7-and-chapter-13-bankruptcy-in-north-carolina/">The Difference Between Chapter 7 and Chapter 13 Bankruptcy in North Carolina</a> appeared first on <a href="https://www.lawyersforchrist.com">Gillespie &amp; Murphy, P.A.</a>.</p>
]]></description>
										<content:encoded><![CDATA[<h2>Are There Different Ways to File for Bankruptcy?</h2>
<p><span style="font-weight: 400;"> your debts are out of control and your bills are piling up, or if you are facing an imminent foreclosure or repossession, you should immediately consult a </span><a href="https://www.lawyersforchrist.com/chapter-7/"><b>North Carolina bankruptcy attorney</b></a><span style="font-weight: 400;"> to discuss bankruptcy and your other options for resolving your debts.</span></p>
<p><span style="font-weight: 400;">If you get confused when people talk about bankruptcy, you are not alone. What is a Chapter 7 bankruptcy? A Chapter 13 bankruptcy? A </span><a href="https://www.lawyersforchrist.com/chapter-13/"><b>North Carolina bankruptcy lawyer</b></a><span style="font-weight: 400;"> can explain to you the different types of bankruptcy and guide you through the bankruptcy process.</span></p>
<p><span style="font-weight: 400;">Usually, when someone files for bankruptcy, that person has fallen into severe debt by missing mortgage or car payments or by piling up credit card or medical debt. Your particular personal circumstances will determine whether or not bankruptcy is your best alternative.</span></p>
<h2>What is Chapter 7 and Chapter 13?</h2>
<p>After it’s explained, the language of bankruptcy is easy to understand. “Chapter 7” and “Chapter 13” are chapters in Title 11 of the U.S. Code. The U.S. Code – the complete federal laws of our nation – is printed every six years. The current U.S. Code includes 53 “titles.”</p>
<p>The U.S. Bankruptcy Code (Title 11) is federal bankruptcy law. The laws that govern personal bankruptcy are Chapter 13 and Chapter 7. A Chapter 7 bankruptcy is the best alternative for many who are in debt in North Carolina. A Chapter 13 bankruptcy is right for many others.</p>
<p>A North Carolina bankruptcy attorney can explain in detail the differences between Chapter 13 and Chapter 7 and help you decide what type of bankruptcy – or what alternative to bankruptcy – is the best option for you.</p>
<h2>Who Qualifies for a Chapter 7 Bankruptcy?</h2>
<p>Most people who file for bankruptcy in North Carolina prefer to file a Chapter 7 bankruptcy. Chapter 7 bankruptcies discharge/eliminate all of a person’s unsecured debts including medical, credit card debt, unsecured loans and some tax debt.</p>
<p>A Chapter 7 bankruptcy offers immediate relief from creditors. It can be completed in about ninety days, and it’s usually less costly than a Chapter 13 bankruptcy. Your unsecured debts are wiped out (discharged) with a Chapter 7 bankruptcy.</p>
<p>However, not everyone who is in debt will qualify for Chapter 7 bankruptcy. You’ll have to pass a means test to determine if your income is low enough to qualify for Chapter 7. The means test prevents some individuals with high incomes from qualifying. The means test takes into account household income and household size in the county in which you live.</p>
<p>However, you don’t necessarily have to be impoverished to qualify for Chapter 7. If your income is substantial, it’s possible to qualify for Chapter 7 if your expenses are also substantial.</p>
<h2>Should You File a Chapter 13 Bankruptcy?</h2>
<p>If you are not qualified for a Chapter 7 bankruptcy, or if you need or want to keep some of the assets you may lose through a Chapter 7 bankruptcy, you will be permitted to file a Chapter 13 bankruptcy, which is also called a “reorganization” bankruptcy. Bankruptcy under Chapter 13:</p>
<ol>
<li> stops vehicle repossessions</li>
<li> allows you to restructure your tax debt</li>
<li> allows you to avoid foreclosure</li>
<li> helps you manage your other debts that may be piling up</li>
<li> typically takes three to five years to complete</li>
</ol>
<p>If you have a regular monthly income that exceeds a particular amount, a Chapter 13 bankruptcy allows you to develop a plan for paying back some or all of your debts. If you are not qualified for bankruptcy under Chapter 7, a Chapter 13 bankruptcy may be the answer for you.</p>
<h2>What Else Should You Know About Bankruptcy?</h2>
<p>When you file for a Chapter 7 or a Chapter 13 bankruptcy in North Carolina, the bankruptcy court issues an automatic stay. The automatic stay stops creditors from:</p>
<ol>
<li> demanding a payment</li>
<li> filing or pursuing a lawsuit against you</li>
<li> garnishing your wages</li>
<li> foreclosing or repossessing your home or vehicle</li>
<li> harassing you by phone call, text, letter or any other means of communication</li>
</ol>
<p>If you file for bankruptcy, take seriously the chance to put your finances in order. You can avoid a great deal of difficulty by letting a North Carolina bankruptcy lawyer advise you and guide you through the bankruptcy process.</p>
<h2>Do You Have Other Options?</h2>
<p>While bankruptcy is a way to get out of paying your debts, there are consequences to consider. For most people, bankruptcy reduces a credit score of 700 or higher by 150-200 points. If your credit score is in the 680 range your credit score may be reduced 100-150 points. If your credit score is in the low 500s or lower the impact on your credit score will be less. However, with patience and discipline, you can reestablish credit and rebuild your finances after bankruptcy.<br />
Oftentimes bankruptcy is a good way to rebuild your credit score if you are missing payments and your credit score is dropping because of your financial situation.</p>
<p>A bankruptcy lawyer can discuss alternatives to bankruptcy and suggest an option that protects your long-term interests. If you have one or two smaller debts, settling those debts may be an alternative that works for you.</p>
<p>Debt settlement programs may be a possibility but you need to know the pros and cons of such programs. A debt settlement program may negatively affect and reduce your credit score. Also, debt settlement programs may not always stop creditors from pursuing collection and harassing you.</p>
<p>A North Carolina bankruptcy a lawyer can explain the specific pros and cons of a debt settlement program and bankruptcy.</p>
<p>Bankruptcy attorneys often negotiate directly with creditors to settle a consumer’s debts. When debt settlement succeeds, the creditor agrees to a settlement amount less than the full amount owed.</p>
<p>Installment plans are may be included in debt settlement agreements. However, the debt settlement option is not available for many consumers, so you may find that bankruptcy is your only practical alternative.</p>
<h2>Let Gillespie &amp; Murphy Help You Settle Your Debts</h2>
<p>If you can’t make mortgage or vehicle payments, if your wages are being garnished, or if you are being sued for a debt, call Gillespie &amp; Murphy at once. We will discuss your rights and options, suggest the best way to resolve your debts, and if necessary, guide you through a bankruptcy.</p>
<p>At Gillespie &amp; Murphy, we are award-winning bankruptcy and debt settlement attorneys who work for businesses and families across Eastern North Carolina. Since 1991, we have used our legal skills and knowledge to help our clients get out of debt, and we will do the same for you.</p>
<p>If your debts are overwhelming you, if you are facing a foreclosure or repossession, if you are considering bankruptcy, or if you simply want to learn more about debt settlement and bankruptcy, call Gillespie &amp; Murphy promptly at 252-659-5045, and let us go to work for you. KNOW YOUR OPTIONS SO YOU MAY MAKE THE BEST DECISION FOR YOU AND YOUR FAMILY.</p>
<p>The post <a href="https://www.lawyersforchrist.com/the-difference-between-chapter-7-and-chapter-13-bankruptcy-in-north-carolina/">The Difference Between Chapter 7 and Chapter 13 Bankruptcy in North Carolina</a> appeared first on <a href="https://www.lawyersforchrist.com">Gillespie &amp; Murphy, P.A.</a>.</p>
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		<title>Repossession Laws in North Carolina: What Happens When You Default on a Vehicle Loan?</title>
		<link>https://www.lawyersforchrist.com/repossession-laws-in-north-carolina-what-happens-when-you-default-on-a-vehicle-loan/</link>
		
		<dc:creator><![CDATA[Gillespie &#38; Murphy, P.A.]]></dc:creator>
		<pubDate>Wed, 28 Feb 2024 01:14:12 +0000</pubDate>
				<category><![CDATA[Bankruptcy]]></category>
		<category><![CDATA[Firm News]]></category>
		<guid isPermaLink="false">https://www.lawyersforchrist.com/?p=13735</guid>

					<description><![CDATA[<p>When Are Vehicles Repossessed? If you have obtained a loan for your car, boat, RV, or pickup truck, late and missing payments can put you at risk of having that item repossessed. However, you may be able to stop a repossession or have a repossessed vehicle returned with help from a North Carolina repossession attorney. [&#8230;]</p>
<p>The post <a href="https://www.lawyersforchrist.com/repossession-laws-in-north-carolina-what-happens-when-you-default-on-a-vehicle-loan/">Repossession Laws in North Carolina: What Happens When You Default on a Vehicle Loan?</a> appeared first on <a href="https://www.lawyersforchrist.com">Gillespie &amp; Murphy, P.A.</a>.</p>
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										<content:encoded><![CDATA[<h2>When Are Vehicles Repossessed?</h2>
<p><span style="font-weight: 400;">If you have obtained a loan for your car, boat, RV, or pickup truck, late and missing payments can put you at risk of having that item repossessed. However, you may be able to stop a repossession or have a repossessed vehicle returned with help from a </span><a href="https://www.lawyersforchrist.com/repossession/"><b>North Carolina repossession attorney</b></a><span style="font-weight: 400;">.</span></p>
<p><span style="font-weight: 400;">Repossession can make a difficult debt situation even more difficult, but if repossession happens to you, you will not be alone. Lenders in the United States repossessed more than two million vehicles in 2021 – over 5,400 repossessions a day.</span></p>
<p><span style="font-weight: 400;">If you cannot make payments, how can you prevent your car, boat, RV, or truck from being repossessed? If the vehicle is repossessed, what can you do? Is bankruptcy your only option for preventing a repossession? When should you contact a </span><a href="https://www.lawyersforchrist.com/self-repossessing-cars-the-future-is-now/"><b>North Carolina repossession lawyer</b></a><span style="font-weight: 400;">?</span></p>
<h2>How Does Repossession Work in North Carolina?</h2>
<p>When you miss a payment on a vehicle in North Carolina, the vehicle may be repossessed without warning. The lender can take your car, boat, RV, or truck if you miss even one payment. North Carolina lenders are not required by law to notify you before repossessing a vehicle.</p>
<p>Lenders also are not required to seek a court’s permission to repossess. If you have defaulted on a vehicle loan, the lender can repossess the vehicle while you’re working or even while you are asleep. You will save time, money, and a great deal of aggravation if you can stop a repossession.</p>
<p>Technology today makes repossession quite efficient. Repossession agents may use digital cameras and computers to find and identify a vehicle, so you can’t hide a car, truck, RV, or boat and hope that your creditor and the repossession agent will go away. They won’t.</p>
<p>If you have personal property items in a car, boat, RV or truck when it is repossessed, you will have to call the lender and make an appointment to retrieve those items. If you know that a repossession is impending, clear as many of your personal items as possible out of the vehicle.</p>
<h2>What Else Should You Know About Repossession?</h2>
<p>After a car, a truck, RV or a boat has been repossessed in North Carolina, it may be auctioned to the highest bidder, but if the sale amount is less than what you owe on the vehicle, you’ll still owe the difference to the lender. This is called the deficiency.</p>
<p>A creditor’s right to repossess has limits. Your automobile may be towed from your driveway or a public parking lot, but it may not be towed from behind a locked gate or a locked storage unit or garage. Repossession agents may not breach the peace or use acts or threats of violence.</p>
<p>Before you make a late payment or miss a payment, call your lender to discuss making a different payment arrangement. You may be able to prevent a repossession simply by making that phone call. If your income and/or expenses have changed, ask about refinancing the loan.</p>
<p>However, you should understand that in North Carolina, a creditor is not legally obligated to negotiate with you, make alternative payment arrangements, or accept partial payments.</p>
<h2>What Should You Know About Bankruptcy?</h2>
<p>A vehicle repossession will negatively impact your credit score, and if the debt remains unpaid after the vehicle is auctioned, the debt will probably appear on your credit report and the creditor will probably seek to collect the unpaid deficiency balance.</p>
<p>Late fees, towing, and other costs related to repossession add up quickly. If you are overwhelmed by your debts and a vehicle repossession is pending, bankruptcy may be your only option, but bankruptcy also entails negative consequences and should be considered only as a last resort.</p>
<p>A repossession attorney can discuss how bankruptcy works and the consequences of bankruptcy. Your attorney will also explain the other options you may have for preventing a vehicle repossession and paying your debts.</p>
<h2>What Happens When You Choose Bankruptcy?</h2>
<p>If you choose bankruptcy, your attorney will guide you through the process. After you file for bankruptcy, the court orders an automatic stay that stops creditors from foreclosing on your home, repossessing your vehicle, garnishing your wages, or suing you for a debt.</p>
<p>In North Carolina, filing for a Chapter 13 bankruptcy can stop a repossession and may even allow you to recover a vehicle that has already been repossessed, but you must act as quickly as possible after the vehicle is repossessed. Under a Chapter 13 bankruptcy, you and your attorney will prepare a debt repayment plan that can be accomplished over a period of three to five years.</p>
<p>The court also issues an automatic stay when you file a Chapter 7 bankruptcy. Your attorney can explain how a Chapter 7 bankruptcy works, although a Chapter 7 bankruptcy may not prevent a repossession is you are behind on payments.</p>
<h2>When Should You Contact a Repossession Lawyer?</h2>
<p>The choice to file for bankruptcy must be a fully informed decision that is not made in haste. You should consult first with an experienced North Carolina repossession lawyer who routinely helps clients facing repossession, foreclosure, wage garnishment, or a lawsuit filed by a creditor.</p>
<p>A Chapter 7 bankruptcy will be the right choice for some consumers who are in debt and facing a vehicle repossession, especially if you choose not to keep the property repossessed but want to avoid owing a deficiency. A Chapter 13 bankruptcy will be the right choice for others if you want to keep the property. In still other cases, you may have an alternative that allows you to avoid both repossession and bankruptcy.</p>
<p>If a repossession is pending or if you are simply unable to pay your debts, you need personalized legal advice from a North Carolina repossession attorney, and you need that advice right now.</p>
<h2>Gillespie &amp; Murphy Will Help You Move Forward</h2>
<p>In North Carolina, if you are unable to make the payments on your car, truck, RV or boat call Gillespie &amp; Murphy immediately. We will explain your options and rights and advise you regarding the best way to move forward.</p>
<p>Gillespie &amp; Murphy is an award-winning team of bankruptcy and repossession attorneys who work on behalf of families and businesses throughout Eastern North Carolina. Our law offices are located in Greenville, Jacksonville, New Bern, and Wilmington.</p>
<p>If you cannot make a payment on your vehicle, if the repossession of your vehicle is imminent, or if your vehicle has already been repossessed – or if you simply need to learn more about repossession or bankruptcy – call Gillespie &amp; Murphy now at 252-659-5045.</p>
<p>The post <a href="https://www.lawyersforchrist.com/repossession-laws-in-north-carolina-what-happens-when-you-default-on-a-vehicle-loan/">Repossession Laws in North Carolina: What Happens When You Default on a Vehicle Loan?</a> appeared first on <a href="https://www.lawyersforchrist.com">Gillespie &amp; Murphy, P.A.</a>.</p>
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		<title>THE AFTERMATH: REBUILDING CREDIT AND FINANCIAL STABILITY POST-BANKRUPTCY</title>
		<link>https://www.lawyersforchrist.com/the-aftermath-rebuilding-credit-and-financial-stability-post-bankruptcy/</link>
		
		<dc:creator><![CDATA[Gillespie &#38; Murphy, P.A.]]></dc:creator>
		<pubDate>Sat, 06 Jan 2024 12:18:14 +0000</pubDate>
				<category><![CDATA[Firm News]]></category>
		<guid isPermaLink="false">https://gillespie-murphy.mysites.io/?p=13521</guid>

					<description><![CDATA[<p>CAN YOU RECOVER FROM BANKRUPTCY? Bankruptcy is a difficult choice. It can be a complicated and sometimes frustrating legal process that can damage your credit – temporarily. However, you can rebuild your credit and reestablish your financial stability after bankruptcy, and a North Carolina bankruptcy lawyer can help. Depending on the type of bankruptcy you file, your [&#8230;]</p>
<p>The post <a href="https://www.lawyersforchrist.com/the-aftermath-rebuilding-credit-and-financial-stability-post-bankruptcy/">THE AFTERMATH: REBUILDING CREDIT AND FINANCIAL STABILITY POST-BANKRUPTCY</a> appeared first on <a href="https://www.lawyersforchrist.com">Gillespie &amp; Murphy, P.A.</a>.</p>
]]></description>
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<div class="post-content">
<h2>CAN YOU RECOVER FROM BANKRUPTCY?</h2>
<p>Bankruptcy is a difficult choice. It can be a complicated and sometimes frustrating legal process that can damage your credit – temporarily. However, you can rebuild your credit and reestablish your financial stability after bankruptcy, and a <a href="/chapter-7/"><b>North Carolina bankruptcy lawyer</b></a> can help.</p>
<p>Depending on the type of bankruptcy you file, your bankruptcy stays on your credit report for seven to ten years. The impact of bankruptcy on your finances fades over time, and you can take a number of steps to improve your situation during the bankruptcy period and immediately after.</p>
<p>What practical measures can you take to rebuild your credit and reestablish your financial stability after bankruptcy? Here are several of the steps you can take.</p>
<h2>STEP ONE: UNDERSTAND YOUR CREDIT REPORT</h2>
<p>Repairing your credit after bankruptcy starts with understanding your credit report, and your <a href="/chapter-13/"><b>North Carolina bankruptcy attorney</b></a> can address any concerns you have regarding the report. You can access a free copy of your current credit report at <a href="http://annualcreditreport.com/"><b>AnnualCreditReport.com</b></a>.</p>
<p>Learning how your credit score is determined helps you understand why your credit score may be moving up or down. Reviewing your credit reports lets you find any inaccuracies that may be hurting your credit score and gives you the opportunity to have those mistakes corrected.</p>
<p>When you review your credit report on a regular basis – after bankruptcy, you should review it monthly – you will also be able to verify that your bankruptcy has been removed from your credit report ten years after a Chapter 7 bankruptcy or seven years after a Chapter 13 bankruptcy.</p>
<h2>STEP TWO: DEVELOP CONSCIENTIOUS CREDIT HABITS</h2>
<p>After bankruptcy, your credit score should begin to improve over time, and if you take care to develop good credit habits, your credit score will continue to rise. These good credit habits include:</p>
<ol>
<li> making full payments to your creditors on time, every time</li>
<li> using your credit cards as little as possible and keeping your balances low</li>
<li> creating and slowly building up a personal emergency fund</li>
<li> having patience and understanding how long it takes to rebuild your credit</li>
<li> maintaining good credit habits even when your credit score is good or excellent</li>
</ol>
<h2>STEP THREE: OBTAIN A SECURED CREDIT CARD</h2>
<p>A secured credit card is a popular way to begin rebuilding credit after bankruptcy. The card is financed by cash you deposit into a savings account. That account functions as collateral on the card’s line of credit, and the card’s limit is determined by how much cash is in the account.</p>
<p>However, unlike most debit cards, a secured credit card’s activity is reported to credit agencies, so it can help you rebuild your credit. The interest rates on these cards are high, but some secured cards let you “upgrade” to an unsecured card after you have made consistent on-time payments.</p>
<h2>STEP FOUR: TAKE OUT A SMALL INSTALLMENT LOAN</h2>
<p>Another way to begin rebuilding your credit is to ask a co-signer to help you qualify for a small installment loan such as a car loan or a personal loan. A small installment loan, borrowed with a co-signer, can help you rebuild your credit if you make full payments on time each month.</p>
<p>However, your co-signer’s credit score will be damaged if your payments are late, if there is any failure to make a payment, or if you default on the loan, so you should consider carefully who you ask to act as your co-signer.</p>
<h2>HOW LONG CAN IT TAKE TO REESTABLISH YOUR CREDIT AFTER BANKRUPTCY?</h2>
<p>While your credit score may go up some within a few months after the conclusion and entry of the Discharge of your bankruptcy case, it may take 2-5 years to rebuild your credit to your desired level. Repairing your credit and reestablishing your financial stability means being consistently proactive and vigilant immediately following the conclusion of your bankruptcy by utilizing some of the steps discussed above.</p>
<p>A Chapter 7 bankruptcy will stay on your credit report for ten years. It must be deleted from your credit report at that time. However, you may see your credit score improve within a year or two because the bankruptcy process will quickly begin to reduce your debt-to-income ratio.</p>
<p>A Chapter 13 bankruptcy appears on your credit report for seven years and must be deleted at that time, but you may be able to refinance your restructured debt in as little as eighteen to twenty-four months after filing for bankruptcy.</p>
<h2>IS BANKRUPTCY THE RIGHT DECISION?</h2>
<p>If your debt seems overwhelming, bankruptcy may or may not be the right decision for you. North Carolina consumers who are struggling with debt may have other options. If you are one of these consumers, discuss your options as quickly as possible with a North Carolina bankruptcy lawyer.</p>
<p>A bankruptcy lawyer can examine your financial situation to determine if there is an equally effective – but less drastic – option for resolving your debts. Your North Carolina bankruptcy can provide you information concerning all options available to you including debt settlement.</p>
<p>However, if a negotiated settlement of your debt is not possible, and if bankruptcy is your only practical option, you’ll find there can be credit and prosperity on the other side of the bankruptcy process for those who take advantage of the opportunity and benefits that bankruptcy provides.</p>
<h2>GILLESPIE &amp; MURPHY WILL WORK WITH YOU AND FOR YOU</h2>
<p>Wherever you are in North Carolina, if you feel overwhelmed by mounting debt, and if you are considering bankruptcy, you need help now. Let a bankruptcy attorney at Gillespie &amp; Murphy review your debts and finances and help you decide if bankruptcy is in fact your best option.</p>
<p>An attorney at Gillespie &amp; Murphy will ensure that your bankruptcy petition is complete and accurate, that your financial papers are in order, and that you avoid the common mistakes and misunderstandings that could delay your bankruptcy or even cause your petition to be rejected.</p>
<p>If you are sued for a debt, or if you face a foreclosure or a vehicle repossession, the team at Gillespie &amp; Murphy can help. Since 1991, we have provided legal assistance and sound advice to consumers throughout North Carolina.</p>
<p>You can contact Gillespie &amp; Murphy now by calling 252-659-5045 to arrange – without any cost or obligation – your first consultation with a debt and bankruptcy attorney. No matter how serious your debt problem is, an attorney at Gillespie &amp; Murphy will find the remedy you need.</p>
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<p>The post <a href="https://www.lawyersforchrist.com/the-aftermath-rebuilding-credit-and-financial-stability-post-bankruptcy/">THE AFTERMATH: REBUILDING CREDIT AND FINANCIAL STABILITY POST-BANKRUPTCY</a> appeared first on <a href="https://www.lawyersforchrist.com">Gillespie &amp; Murphy, P.A.</a>.</p>
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