Terry Duncan

About Terry Duncan

Terry Duncan is a board certified specialist in consumer bankruptcy and business bankruptcy law. He has been practicing in the area of bankruptcy since 1996 and has filed almost 5,000 bankruptcies in North Carolina. He regularly speaks at seminars teaching other lawyers about bankruptcy law. Learn more about Terry Duncan by going to his Google+ page.

Can a Bankruptcy Help Eliminate a Judgment from a Lawsuit?

Can a Bankruptcy Help Eliminate a Judgment from a Lawsuit?

Yes, a bankruptcy will usually eliminate a judgment against you from a lawsuit. If you owe a debt to a creditor, that creditor can obtain an attorney and sue you over the debt. If the creditor sues you over the debt and obtains a judgment against you, in other words wins the lawsuit, the court will issue a judgment against you. A judgment is a court order stating that you owe money to the creditor. The creditor can then try to collect the debt.

If you own real property, such as […]

What is a Default Judgment?

What is a Default Judgment?
 A default judgment is an order entered by the judge or clerk of the court. For our purposes in this blog, usually the default judgment is entered in state court.  This default judgment is allowed when the defendant has failed to plead or file an answer in the lawsuit or is otherwise subject to a default judgment. The default judgment is governed by Rule 55 of the North Carolina Rules of Civil Procedure.

To simplify the default judgment, a default judgment is entered by the court when someone fails to respond to a lawsuit. Normally a […]

What is a Discharge in a Bankruptcy Case?

What is a Discharge in a Bankruptcy Case?
 A discharge of a bankruptcy case is when the case has been closed out by the bankruptcy court and the debtor’s debts listed in the bankruptcy are discharged or eliminated. Of course, secured debts such as houses and cars are not necessarily eliminated by the discharge. For example, if the debtor filed a chapter 7 bankruptcy and is still making payments on a house, the debt on the house is not eliminated by the discharge unless the debtor is surrendering or giving up the house. In the event the debtor is surrendering the […]

What Happens if I Surrender my House in Bankruptcy?

Many times in bankruptcy, clients decide to surrender or give up their house. Either in a chapter 7 bankruptcy or a chapter 13 bankruptcy, you have the decision to keep your home and continue to make payments on the home or you can give up the home and virtually eliminate the debt on the home. If you decide to surrender or give up your home in the bankruptcy, you will have several months that you may still live in the home before you have to move out. The exact length of time you can stay in the home is […]

How Long Is A Judgment in North Carolina?

How long is a judgment in North Carolina? A judgment in North Carolina is usually valid for 10 years. However, a creditor who has a judgment against you may petition the court for another 10 year extension. So in theory, a creditor can have a judgment against you for 20 or more years.

To obtain a judgment against you,  a creditor must file a lawsuit against you  in court and obtain a judgment against you. A judgment is a declaration by a judge  that you owe money to someone .  Once the creditor obtains a judgment against you,  this judgment is entered into […]

What Is A Writ of Execution?

What is a Writ of Execution? A writ of execution in North Carolina is a court document ordering the sheriff of the county in which you live to seize nonexempt property to satisfy or pay a money judgment against you. If you are being served a writ of execution, then you have already been sued in a court and lost your case. Normally, a money judgment would be ordered against you by the judge in your court case. The writ of execution is an order directing the sheriff to seize your nonexempt property and sell it at a sheriff’s auction to […]

Do I Have To Live In Salisbury Or Rowan County To File Bankruptcy With Duncan Law?

No, you do not have to live in Salisbury or Rowan  County to file bankruptcy with Duncan Law. The federal courts are divided into federal districts. Within these districts are divisions of the bankruptcy courts. Salisbury is in the Winston-Salem district. Usually if you live within a 30 mile radius of Salisbury or Rowan County you will live in the judicial division in which Salisbury belongs. Surrounding cities such as China Grove, Landis, Spencer, Granite Quarry, Kannapolis, Concord, Lexington, Crescent, and Rockwell could be filed in our Salisbury office. You do not have to be specifically living in the Salisbury city […]

How Long Do I Have To LIve In Salisbury Before I Can File Bankruptcy?

Many times I’m asked how long do I have to live in Salisbury before I can file bankruptcy here? Under 28 U.S. Code 1408, someone must file a bankruptcy in the district in which they resided for the greater part of the last 180 days before the filing the bankruptcy petition. Therefore, if you came in from another state and wanted to file bankruptcy in the Salisbury North Carolina area, you must have resided in the Salisbury area at least 91 days before you can file the bankruptcy in Salisbury. The law specifically states you must reside for the […]

Do I Have To Live In North Carolina To File Bankruptcy in North Carolina?

Our potential clients sometimes ask us if they have to live in North Carolina to file a bankruptcy in North Carolina? There is no simple answer to that question. Bankruptcy law is federal law and is valid throughout the United States. Normally you must live in the federal judicial district in which you file the bankruptcy case. Most states have several federal judicial districts. For example, North Carolina has three federal judicial districts. They are the Western district of North Carolina, the Middle district of North Carolina, and the Eastern district of North Carolina. If you reside in the […]

What Debts Cannot Be Wiped Out Or Eliminated In Bankruptcy?

 Many times I am asked  what debts cannot be wiped out or eliminated in bankruptcy ?  Generally, most debts can be wiped out in a chapter 7 bankruptcy or a chapter 13 bankruptcy . However, there are some exceptions to the dischargeability of a debt in bankruptcy. Most secured debts, such as payments for debts on houses and cars, which are secured debts, cannot be eliminated in bankruptcy unless you return the house or the car to the creditor. In other words, the house or the car is collateral for the debt and cannot be eliminated in a chapter 7 bankruptcy or chapter 13 bankruptcy.

The bankruptcy code  […]