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

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

The Benefits of Chapter 13 Bankruptcy

If you are considering filing bankruptcy, your attorney should discuss both Chapter 7 bankruptcy and Chapter 13 bankruptcy with you. While both result in a discharge, the paths taken to get there are quite different. A Chapter 7 is a fast, clear-cut…
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…
Chris Layton

Same Sex Bankruptcy

Bankruptcy for same sex couples in North Carolina has caused some concern for same sex couples, bankruptcy trustees and bankruptcy attorneys due to the conflicting nature of federal and state laws. However, the good news is that attorneys and…
Chris Layton

Keep Your Home In Bankruptcy

As a Charlotte bankruptcy attorney, one common fear I encounter related to filing bankruptcy is the fear of being able to keep your home in bankruptcy. Fortunately, for most clients, there is a bankruptcy option which allows them to keep their…
Chris Layton

Taxes in Bankruptcy

I get questions almost daily about whether taxes owed can be included in a bankruptcy. Now that the filing date for 2013 taxes has passed, it seems a good time to review the basic considerations.Chapter 7In a Chapter 7, you can include…