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What Should I Tell My Creditors If I Decide To File Bankruptcy?

What Should I Tell My Creditors if I Decide to File Bankruptcy? 

If you are behind on making payments to your creditors, many times they will call you and ask you to pay your debts to them. Sometimes creditors will ask you to pay the debts in a cordial polite manner. Other times they will call and literary threaten you with going to jail. Many creditors have Robo calls in which a machine may call you many times a day to threaten and harass you.

After you have consulted with Duncan Law, under certain circumstances, we will allow you to refer […]

What is a 10 day Upset Bid Period in Foreclosure in North Carolina?

A 10 day upset bid period in foreclosure in North Carolina, or sometimes called the redemption period or bid,  is the opportunity for someone to bid on the sale of a house after a foreclosure sale date. Under North Carolina law, a person or company has the ability to bid at a higher price than the price in which the house was sold at the actual foreclosure sale. The upset bid must be made within  10 calendar days of the actual foreclosure sale date. The new bid must be at least 5% or $750 higher than the original bid at […]

Do I Need To File An Answer With The Court Or Respond To A Lawsuit?

 Do I need to file an answer with the court or respond to a lawsuit? The answer is normally yes! Once you are served with a lawsuit you normally have 30 days to file an answer with the court. If you do not file a written answer to the lawsuit within 30 days from the date the lawsuit was served upon you, you will automatically lose the lawsuit. The creditor will obtain what is known as a default judgment against you because you do not file an answer to the lawsuit with the court.

You must file a written answer with […]

What is a Notice of Right to Have Exemptions Designated in North Carolina?

A “notice of right to have exemptions designated” in North Carolina is a legal document from a creditor who has obtained a judgment against you. This notice of right to have exemptions designated form is sent to you by the judgment creditor requiring you to list all property that you own. Any property that you own is subject to be seized by the sheriff department unless it is exempted in this form. Usually you have 20 days from the date the notice of right to have exemptions designated form is receive by you either by the sheriff serving it on […]

What Happens If I Surrender my House in Bankruptcy?

                 What Happens If I Surrender My House In Bankruptcy?

If you file a chapter 7 bankruptcy or a chapter 13 bankruptcy, usually you have two        choices regarding your home. If you are not behind on your house payments you can file a chapter 7 bankruptcy and either keep your home and keep making your regular house payments on the home, or you can surrender or give back the home to the mortgage company and not owe any debt on the mortgage. If you are behind on your house payments, you can file a chapter 13 bankruptcy which will usually […]

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 […]

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 […]