A bankruptcy blog containing useful information for anyone considering a Charlotte bankruptcy attorney.

Chris Layton

Can I Keep My Home In Bankruptcy

Yes. In fact, while you can most often keep a home in a Chapter 7 bankruptcy, a Chapter 13 bankruptcy has as one of its best qualities, the ability to get ‘caught up’ on your mortgage over time.My Home In Chapter 7In a Chapter 7…
Chris Layton

Tax Returns and Bankruptcy

It’s that time of year again. My office receives numerous emails and phone calls each week specifically asking about tax returns and bankruptcy. Mainly, clients want to know whether they can file bankruptcy prior to getting a tax refund, and…
Chris Layton

Exemptions In Bankruptcy

Exemptions in bankruptcy are used to protect property that the client owns or recently sold or transferred. Planning to use exemptions in bankruptcy may dictate waiting a little bit to file, depending upon the value of the asset or the type…
Chris Layton

Keeping Your Car In Bankruptcy

Keeping your car in bankruptcy is important, especially if it’s a reliable car and you’re looking forward to the day you pay it off. Fortunately, the rules of bankruptcy typically allow for you to keep your vehicle and successfully file…
Chris Layton

Withdrawals From IRA or Pension Plans

While a withdrawal from a pension plan or IRA may be taxable income, they typically do not cause a problem in filing a bankruptcy. Regarding whether continued withdrawals should be included in income in a Chapter 13, clients can argue that the…
Chris Layton

Debt Collectors Arrested

In a story published by CNN here, it is being reported that the federal government is wielding a heavy hand when it comes to debt collectors. As a Charlotte bankruptcy attorney, I often hear the horror stories clients have regarding debt collectors.…
Chris Layton

Co-Debtors And The Automatic Stay

Clients frequently ask about what happens to their co-debtors in a bankruptcy. Fortunately, debtors and co-debtors benefit from the automatic stay in bankruptcy. There are a few considerations regarding co-debtors discussed below.Co-Debtors…
Chris Layton

Keeping A Business In A Chapter 7

Many clients of mine are small business owners. While they are facing difficult financial times now, their hope is that their small business will turn the corner and turn a profit down the road. While every case is unique, typically, you…
Chris Layton

Getting Started With Bankruptcy -- It Only Takes A Phone Call

Arguably, making that initial phone call is the hardest part about bankruptcy. Automated credit reports, computers and email have made the process of putting information together much easier than in the past. What they haven't taken away is…
Chris Layton

How Long Does Bankruptcy Take?

Clients are entitled to clear expectations about the time frame for preparing and filing a bankruptcy. So when clients ask "How long does bankruptcy take?" I usually summarize with the information below. While there are some exceptions, the…