Coming into chapter 13 bankruptcy, a common experience of individuals is payment due dates and the sometimes harsh consequences that follow from missed due dates. When money has been tight, the experience of a late payment fee and a default
NC Bankruptcy Blog
The NC Bankruptcy Blog, published by Fabricius & Fabricius PLLC, focuses on bankruptcy law as it applies in North Carolina. It covers practical issues such as payment schedules and consequences in Chapter 13 cases, eligibility criteria including the means test for Chapter 7 filings, and the impact of personal bankruptcy on small businesses. The blog also addresses consumer debt challenges like high-interest auto loans and provides localized insights such as bankruptcy filing rates by county within the state. The content is tailored to individuals and small business owners navigating bankruptcy processes in the Eastern District of North Carolina.
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Skipping the Means Test with Non-consumer Debt
The chapter 7 means test serves to limit eligibility to file chapter 7 bankruptcy, posing a problem for individuals with household income above the state median income and with expenses that don’t fit well into the Congressionally-designed deduction system. Individual
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In Personal Bankruptcy, What Happens to My Small Business?
No two businesses are the same, and this diversity is echoed in the implications the personal bankruptcy of a business owner has on a small business. Nevertheless, several general points can be considered:
How the small business is organized
The
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Stuck in a High Interest Car Loan? Chapter 13 Can Lower Rates
Here in North Carolina, a car is typically essential transportation. Owning a car can be vital to continued employment. Lenders and car lots know this, and are very willing to loan money to buy a car. The catch, however, is
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Map of Bankruptcy Rate by NC County
Bankruptcy filing rates vary considerably across the state. For example, in 2013, 7 times more people per capita filed bankruptcy in Vance County than in Mitchell County. I’ve plotted this data on a map, with green representing the lowest filing
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Reversing Wages Garnishments and other Seizures in Bankruptcy
The assistance bankruptcy can offer to a person struggling with having his or her wages garnished is not limited to preventing in the immediate future. It’s also possible, in some cases, to get the money back from the creditor who
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Modify What Exactly? Modifications in Bankruptcy
Bankruptcy is unfortunately jargon-filled. Worse, some words have different meanings depending on the bankruptcy context. On this blog, I’ve previously discussed the two meanings of feasibility in bankruptcy. Another word that leads to confusion is modify and modification.
There are
There are
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Bankruptcy and Tax Refunds
For many North Carolinians, annual tax refunds play a valuable role in the household budget. When contemplating bankruptcy, it’s worth considering how the bankruptcy process interacts with the receipt of tax refund payments.
Special Classification of Unsecured Debt in Chapter 13
In a chapter 13 plan, the basic plan treatment for non-priority unsecured claims (which include items such as medical bills, credit cards, many judgments) is to treat all such claims the same way. In some chapter 13 plans, this
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Can I still file bankruptcy if the government shuts down?
With the threat of a shutdown of the federal government looming, a question on the mind of those planning to seek bankruptcy relief is what happens to the bankruptcy system in the event of a shutdown.