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

Chris Layton

Stop Collections Calls

Creditors are relentless in their pursuit of money. I talk to clients every day who are doing everything they can to pay creditors each month, and yet the creditors refuse to be reasonable. Bankruptcy is a vehicle available to most of those…
Chris Layton

Form 1099-C

When a creditor or lender accepts less than they are owed, the debtor often receives a Form 1099-C. This form is essentially requiring the individual to pay taxes on the amount of debt ‘forgiven’ by the lender. For example, if you have a…
Chris Layton

The Means Test In Bankruptcy

MisconceptionsOne misconception around bankruptcy involves the Means Test. Yes, such a test exists. It is designed to compare your Current Monthly Income to the Median Income that applies to your geographic area. If your CMI is lower than…
Chris Layton

Can I File A Chapter 13 Without My Spouse?

Yes, married couples are permitted to file individually or jointly. To maximize the results of the bankruptcy, it sometimes makes sense to file individual bankruptcies simultaneously for both spouses. Your Charlotte bankruptcy attorney can assist…
Chris Layton

Creditor Calls After Bankruptcy

Once you file a Chapter 7 or Chapter 13 bankruptcy, all creditor calls and attempts to collect on debt will stop. After receiving your discharge in bankruptcy, the creditors have no legal rights against you. But what if you missed a creditor…
Chris Layton

Debts To Friends And Family

Clients about to file bankruptcy understandably are interested in retaining a credit card or excluding certain debts from the bankruptcy. Usually this stems from a sense of responsibility to the creditor, or the desire to have available credit…
Chris Layton

Spousal Income In Bankruptcy

Many clients are concerned that the collective income in their household will bar them from filing a Chapter 7 bankruptcy. While there are income thresholds whereby you automatically qualify for a Chapter 7, there are also adjustments that can…
Chris Layton

Current Monthly Income In Bankruptcy

Clients are smart to ask about timing issues with filing a bankruptcy. I get a lot of questions about income, as some clients expect income to increase in the near future, but have struggled recently with insufficient income.When you file…
Chris Layton

Does My Spouse Have To File Bankruptcy With Me?

While it may make sense for both spouses to file in a bankruptcy, a qualified Charlotte bankruptcy attorney will walk you through the options that suit your particular situation best. Typically, married couples hold debt in many different ways,…
Chris Layton

Can Unemployment Be Garnished?

Generally, unemployment benefits are exempt from garnishment. Like everything else, there are exceptions. Orders for garnishment may be granted for priority debts like child support or taxes, for example.Protect The Status Of Your Unemployment…