Category : Bankruptcy

You have questions, we have answers: Don’t I have to give up everything I own if I file for Bankruptcy?

Absolutely not! North Carolina and Florida law set up exemptions that will protect your assets from creditors. We will determine if you can keep everything you own under NC or FL law before you file for bankruptcy protection. Most of our clients who are eligible for Chapter 7 bankruptcy are able to keep everything they […]

You have questions, we have answers: What will bankruptcy do about the collection agencies that keep harassing me?

Leave a debt unpaid long enough and chances are you will receive multiple daily reminders of the unpaid balance, late fees, accruing interest and potential legal actions that will be taken against you. It is stressful enough to know that you aren’t able to meet a financial obligation, but add unsavory collections practices to mounting […]

What does it actually mean when a retailer files for bankruptcy relief?

As the economic effects of the COVID-19 pandemic continue to ripple around the globe, it has become almost common place to hear of one major retailer or another filing for bankruptcy protection. But what does that mean exactly? “A common misconception among consumers — when they see their favorite brands are headed to bankruptcy court […]

Movie Theatres: Almost a thing of the past?

As Sarah Whitten writes, “The National Association of Theatre Owners estimates that if revenue declines continue, 69% of small and midsized cinema companies would be forced to file for bankruptcy or close permanently.”

Business, Bankruptcy and COVID-19

Being a small business owner, or even a medium to large business owner, comes with a unique set of financial challenges that seem to only be intensified by the current COVID-19 crisis. Many businesses have had to furlough or layoff staff; all while trying to limp forward day-by-day. Many entrepreneurs are being faced with the […]

Reestablishing Creditworthiness after Bankruptcy

As I’m sure you can imagine, we receive a lot of questions about reestablishing credit, and how to point your finances in the right direction after filing for bankruptcy relief. Part of our commitment to our clients is to walk with you through not just the filing of your bankruptcy, but in reestablishing your financial […]

What about the companies I see on TV that say they will wipe out my debts without bankruptcy?

There are many unfounded claims being made by agencies that do not have the right to practice law. The Federal Trade Commission recently warned of these “credit repair” scams. The truth is, these companies depend on your creditors voluntarily agreeing to reduce your debt in exchange for a lump sum payment. Unlike legal debt relief, […]

Cirque du Soleil Files For Bankruptcy

As another month draws to a close, the economic fallout from the coronavirus pandemic finds yet another victim in Las Vegas Strip mainstay, Cirque du Soleil. The company announced Monday that they will be filing for bankruptcy protection.

24-Hour Fitness Declares Bankruptcy

Yet another casualty of the COVID-19 crisis was witnessed on Monday, with 24-Hour Fitness filing for Chapter 11 bankruptcy protection. Their anticipated closing of 130+ gyms may only be the beginning – as Danielle Wallace reports for Fox Business, “Experts expect a dramatic shift in the U.S. fitness industry even after coronavirus restrictions are lifted, […]

Your questions answered: I’m married, do my spouse and I both have to file bankruptcy?

This is a question I have received quite a bit over the years, but it seems to be coming up more and more these days. The simple answer is: NO, you can absolutely file for bankruptcy protection as an individual, even if you are married! Whether you should or not depends on who is legally […]