King Law Firm Blog

Bankruptcy is a personal financial decision. For some individuals, it is the most responsible action to take in light of their circumstances. It is also an opportunity for a new beginning, and many filers feel a sense of freedom and relief once the process is finished. With a fresh financial start in life and taking steps to improve your finances going forward, you can successfully bounce back from your bankruptcy.…

Individuals who apply for a loan and sign off on an application are responsible for all of the information which is contained in the agreement. However, many individuals do not read the small print when they sign loan agreements and other contracts, and they are not aware that these agreements oftentimes contain a cross-collateralization clause which is part of the agreement. Moreover, these cross-collateralization clauses can create serious complications for…

If you are not willing or unable to pay off a debt voluntarily, the State of North Carolina has various legal means for a creditor to collect your debt. However, a creditor cannot immediately try and force you to pay the money which you owe. First, the creditor must go to the court and obtain a judgment against you. Once the court enters a judgment, the creditor can then begin…

The decision to file for bankruptcy (either Chapter 7 or Chapter 13) is a difficult one for most people and is often seen as an option of last resort. This is because declaring bankruptcy can have a significant effect on your credit and financial well-being. Moreover, after you file for bankruptcy, it can sometimes be difficult to prove your creditworthiness to lenders and obtain loans for some time after filing.…

Although filing for bankruptcy is often seen as a last resort for most people, filing actually has significant benefits and can often help people eliminate debts. Chapter 7 bankruptcy allows for the discharge of debt after the liquidation of a debtor’s non-exempt assets in order to pay off the person’s creditors. To qualify for this type of bankruptcy, however, the debtor has to satisfy certain income requirements. Importantly, there are…