Call for FREE Consultation!

Raleigh Bankruptcy Attorney

(click here to go to our Google Reviews)

(nearly 20 years with NO complaints – click here to go to our BBB® page)

Sheree is in the Top 3.9% of ALL Bankruptcy Attorneys. Nationwide (click here to go to NC Bar)

Bankruptcy and Divorce

Divorce and Bankruptcy Lawyers in Raleigh, North Carolina

Divorce and bankruptcy can be two of the most stressful experiences a person can go through. Not only are you dealing with complex legal issues, but you may also be struggling with personal challenges as well. That’s why it’s so important to have an experienced divorce and bankruptcy attorney on your side.

At Cameron Bankruptcy Law, our Raleigh family law, divorce, and bankruptcy lawyers have extensive experience helping people navigate these difficult situations. We understand the law inside and out, and we know how to help our clients get the best possible results. Whether you’re facing divorce or bankruptcy, we can help you understand your options and make the best decisions for your future.

If you’re dealing with a divorce or bankruptcy issue, don’t try to go it alone. Contact Cameron Bankruptcy Law today to schedule a consultation with our experienced divorce and bankruptcy lawyers in Raleigh, North Carolina. We can help you take care of everything, so you can move on with your life.

Why Do I Need a Divorce and Bankruptcy Lawyers in North Carolina?

When it comes to divorce and bankruptcy issues, you need a lawyer who is experienced, knowledgeable, and can provide the best possible outcome for your case. At Cameron Bankruptcy Law, our divorce and bankruptcy lawyers have the experience and knowledge to help you get the best possible outcome.

We understand the challenges that you are facing and will work with you to get the best possible result. We also have a team of divorce and bankruptcy lawyers who are familiar with the North Carolina divorce and bankruptcy laws and can provide the best possible advice for your case. If you live in North Carolina and are going through a divorce or bankruptcy, contact Cameron Bankruptcy Law today to set up a free meeting.

What is Divorce and Bankruptcy?

divorce and bankruptcy lawyers

Bankruptcy is a process where individuals or businesses can eliminate or reorganize their debts. This is done by filing a petition with the bankruptcy court. 

A divorce is when a married couple legally ends their marriage. This is done by filing for a divorce with the court. If you are considering bankruptcy or divorce, it is important to consult with an experienced attorney.

At Cameron Bankruptcy Law Office, our divorce and bankruptcy lawyers serve clients in Raleigh, North Carolina. We can help you understand your options and ensure that the process goes as smoothly as possible. Contact us today to schedule a free consultation.

Is it Better to File for Divorce or Bankruptcy First?

When divorce and bankruptcy collide, it can be difficult to know what to do. Should you file for bankruptcy before or after your divorce is final? The answer depends on a number of factors, including the divorce and bankruptcy laws in North Carolina and the advice of your divorce and bankruptcy lawyers.

In general, filing for bankruptcy before the divorce has some advantages. For one thing, it’s usually simpler and less expensive. You won’t have to go through the process of dividing up your debts in divorce court. And if you’re able to discharge (eliminate) all your joint debts in bankruptcy, that can make divorce negotiations simpler, too.

However, there are some drawbacks to filing for bankruptcy before a divorce. First, if you wait until after your divorce is final, you may be able to take advantage of certain state laws that give extra protection to divorced spouses. Second, if you have significant assets, filing for bankruptcy before divorce could mean that more of those assets will be subject to division in divorce court.

The best way to decide whether to file for bankruptcy before or after a divorce is to consult with both a divorce lawyer ,bankruptcy and family law attorney. They can help you understand the laws in your state and evaluate the pros and cons of each.

What Effects Do Bankruptcy and Divorce Have on Each Other?

Bankruptcy and divorce proceedings are both complex and stressful events. Not only do they have the potential to impact your finances and credit score, but they can also take a toll on your emotional well-being. If you’re facing both divorce and bankruptcy, you may be wondering how the two will affect each other.

The good news is that you can still move forward with divorce proceedings even if you’re in the midst of a bankruptcy case. However, it’s important to understand that bankruptcy will delay the distribution of assets until after the bankruptcy case is completed. This is because property division in divorces is usually handled by state courts, but bankruptcy is handled by federal law, which is different from state law.

As a result, divorce proceedings may be suspended during the bankruptcy case, and any property that is exempt from bankruptcy may not be divided in the divorce. However, bankruptcy can also delay the divorce process, as the bankruptcy trustee will take control of all assets in the bankruptcy estate. They might have to wait until the bankruptcy case is over before the divorce can go forward. This can make it hard for divorce lawyers.

Once the bankruptcy case is completed, the divorce court will typically resume proceedings and divide any remaining assets. This means that if you’re hoping to use bankruptcy to protect your assets from divorce, you’ll need to work with a divorce lawyer who understands the bankruptcy process.

At the Cameron Bankruptcy Law Office, we have experience handling both divorce and bankruptcy cases. We understand the unique challenges that you’re facing, and we can help you navigate the divorce and bankruptcy processes in a way that protects your interests. If you’re considering divorce and bankruptcy, contact our office today to schedule a consultation with one of our divorce and bankruptcy lawyers. We serve clients in Raleigh, North Carolina.

If you and your spouse are considering bankruptcy, you may be wondering how the process works if you’re married. In a Chapter 13 bankruptcy, both spouses are responsible for the repayment plan, which typically lasts three to five years. However, it’s relatively uncommon for couples to file for Chapter 13 before getting divorced, so most of the information out there focuses on Chapter 7 bankruptcy. If you’re considering bankruptcy as part of your divorce, it’s important to consult with divorce and bankruptcy lawyers to understand all of your options and what would work best for your unique situation.

A joint petition: Filing Joint Bankruptcy as a Married Couple

If you are considering bankruptcy, you may be wondering whether you should file jointly with your spouse. While divorce and bankruptcy are both serious legal proceedings, there are a few reasons why it may make sense to file bankruptcy paperwork together.

First, if you file a joint petition, both spouses’ qualified debts will be discharged in bankruptcy court. This can simplify divorce proceedings by reducing the issues that need to be decided.

Second, it is usually cheaper to file jointly than to file separately.

Third, when it comes to bankruptcy, couples are not required to file jointly. If just one spouse needs bankruptcy protection, a solo filing may be appropriate. Or, both spouses may qualify for bankruptcy following the divorce due to a loss of income. When it’s possible, many couples find that filing jointly speeds up the process.

However, divorce and bankruptcy can be complicated, so it’s important to seek the advice of experienced divorce and bankruptcy lawyers. At Cameron Bankruptcy Law in Raleigh, North Carolina, we can help you navigate the bankruptcy process and determine the best course of action for your unique situation. Contact us today to schedule a consultation.

The Expenses Incurred When Filing for Bankruptcy and Divorce

Bankruptcy and divorce can be two of the most stressful experiences a person can go through. Not only are you dealing with complex legal issues, but you may also be struggling with personal challenges as well. That’s why it’s so important to have an experienced divorce and bankruptcy attorney on your side.

At the Cameron Bankruptcy Law Office, we understand what you’re going through and we’re here to help. We’ve helped thousands of people through divorce and bankruptcy, and we can help you too.

Divorce and bankruptcy can be expensive, but there are ways to save money. For example, if you file for bankruptcy before your divorce, you can lower your divorce costs. And if you file for bankruptcy jointly with your spouse, you can save on legal bills.

We know that divorce and bankruptcy are difficult times. But we’re here to help you every step of the way. Contact us today for a free consultation. We’ll help you get through this.

Chapter 7 and Chapter 13 Bankruptcy

If you are considering filing for bankruptcy, there are two important things to consider: Chapter 7 vs. Chapter 13.

Chapter 7 is a liquidation bankruptcy designed to get rid of your unsecured debts such as credit card debt and medical bills. In Chapter 7 bankruptcy, you usually receive a discharge after only a few months. So it can be completed quickly before a divorce.

By contrast, a Chapter 13 bankruptcy lasts three to five years because you have to pay back some or all of your debts through a repayment plan. So if you were looking to file a Chapter 13 bankruptcy, it might be a better idea to file individually after the divorce because it takes a long time to complete.

If you are considering bankruptcy, contact Cameron Bankruptcy Law today. We can help you decide which type of bankruptcy is right for you and guide you through the process.

Property Division

When it comes to property division in divorce, North Carolina is an equitable distribution state. People who get married get their money, earnings, age, health, and needs to be taken into account when the court divides their marital property. This means that the court will do this in a way that is fair and equitable.

Some of the most important considerations in dividing property in a divorce include:

– The value of the marital property.

– Each spouse’s separate property (property owned prior to marriage or inherited during marriage).

– Each spouse’s contribution to the acquisition, preservation, or appreciation in value of the marital property.

– The length of the marriage.

– The standard of living established during the marriage.

– The relative economic circumstances of each spouse at the time of divorce.

– Whether either spouse has a prior divorce or annulment,

If you and your spouse are unable to reach an agreement on how to divide your property, the court will make the decision for you. All of the above factors will be taken into account by the court when it makes its decision. The court will also take into account any other relevant factors in your case.

Getting Rid of Marital Debt

When it comes to divorce, one of the biggest issues can be dividing up debt. Who is responsible for what? How do you split it up so that both parties are happy? This can often be a very stressful and time-consuming process.

However, filing for bankruptcy may be a way to help ease some of this stress. When you file for bankruptcy, all of your debts are wiped clean. This means that you don’t have to worry about who is responsible for what anymore. Everything is taken care of and you can start fresh.

Of course, this doesn’t mean that divorce will be easy. It’s still a difficult and emotional process. However, filing for bankruptcy can help to ease some of the financial burden and stress that comes with divorce.

Should I File for Chapter 7 Bankruptcy Before My Divorce?

There are a number of reasons why it can be advantageous to file for Chapter 7 bankruptcy before a divorce. If you and your spouse are on good terms, a joint bankruptcy filing while you’re married is often a great idea. You’ll eliminate qualifying debts like credit card balances, past-due utility and medical bills, and personal loans-leaving you less to divide in the divorce. 

You might also be able to increase your exemption amounts and protect more property. And you can reduce court costs and attorneys’ fees by filing jointly before a divorce, as opposed to filing two bankruptcy matters after a divorce. Overall, when it works, filing for Chapter 7 while married makes for a much simpler, cleaner dissolution.

Of course, there are some potential downsides to consider as well. If only one spouse files for bankruptcy, the other spouse may end up shouldering more of the debt burden in the divorce. And if you have joint debts that are discharged in your bankruptcy, your ex-spouse may still be on the hook for them (although he or she can try to get the creditors to go after you instead). So it’s important to weigh all the pros and cons before making a decision. But if you’re confident that bankruptcy is the right choice for you and your family, filing before the divorce can be a smart move.

Income Requirements for Chapter 7 Bankruptcy

If you are considering filing for Chapter 7 bankruptcy, it is important to understand the income requirements that may impact your ability to qualify. In general, the decision to file before or after a divorce can come down to income if you maintain a single household. If you want to file together, you have to include your combined income in the bankruptcy, even if you have different incomes.

Chapter 7 bankruptcy is often called a “liquidation” bankruptcy because it requires the individual filer to sell off certain assets in order to repay creditors. In order to qualify for Chapter 7, filers must pass what is known as the “means test.” The means test looks at an individual’s income and compares it to the median income for families of the same size in the filer’s state.

If your joint income is too high and you don’t pass the Chapter 7 means test, you might not be able to qualify for a Chapter 7. This can happen even if each spouse’s income is low enough to qualify on his or her own. This is because Chapter 7 income limits are based on household size, and the limit for a household of two is not twice that of a single person household (it’s usually only slightly higher). In that case, it may be necessary to wait until each spouse has a separate household after the divorce to file bankruptcy.

Cameron Bankruptcy Law can help you navigate the divorce and bankruptcy processes in North Carolina. Our experienced divorce and bankruptcy attorneys can help you understand your options and make the best decisions for your unique situation. Contact us today for a free consultation.

North Carolina’s Equitable Distribution Laws

Divorce can be a difficult and stressful process, made even more complex when the property must be divided between spouses. In North Carolina, the court will use the equitable distribution method to fairly divide property between divorcing spouses. This means that the court will presume that an equal split of marital and divisible property is fair, but may deviate from this equality if doing so would be unfair under the circumstances. 

The court will consider a variety of factors in making this determination, including each spouse’s past efforts and future needs. Ultimately, the goal is to arrive at a fair and just division of property, even if it is not an equal one.

Should I File for Divorce Before Filing for Bankruptcy?

There are a number of reasons why filing for divorce before bankruptcy might make sense. If your joint income is too high to qualify for Chapter 7 bankruptcy, divorce might be the best option. This is because, after divorce, both spouses might qualify individually even if they could not do so jointly. 

Additionally, divorce can help protect certain assets from the trustee’s influence. For example, if one spouse takes a house in a divorce, a proper judgment and transfer of the title and mortgage can safeguard the ex-spouse from creditors. The bankruptcy court might think that the divorce was an act of bankruptcy fraud if you didn’t tell them about all of your assets up front.

Divorce and Marital Property Division

In North Carolina, divorce courts divide marital property and divisible property between divorcing spouses. Marital property is all property acquired or earned during the marriage up until the date of separation, while divisible property includes any money or property that one or both spouses earned during the marriage but did not realize until after separation. The court will think that all of the things that were bought or sold during the marriage and before the couple split up are marital property.

To determine how to divide marital or divisible property, the court will consider a variety of factors, including each spouse’s earnings during the marriage, each spouse’s contributions to the acquisition of marital or divisible property, and any child custody arrangements. The court may also take into account any other factors it thinks are important when dividing property between the spouses.

Marital Property

Marital property is any property that was acquired or earned during the marriage up until the date of separation. This includes things like pensions, retirement benefits, and other deferred compensation rights earned during the marriage. The court will think that all of the things that were bought or sold during the marriage and before the couple split up are marital property.

Divisible Property

A divisible property is any property that has changed in value between the date of separation and distribution. This can include money or property that one or both spouses earned during the marriage but didn’t realize until after separation, like a bonus or commission. It could also be an interest payment or dividend issued from a marital bank or stock account. The court will exclude any appreciation or dissipation of property that results from something a spouse did after separation.

Separate Property

Separate property is any property that you actively gain or lose after separation and any property you owned before marriage. This can include things like the property you received during the marriage, but only if it was intended for you alone, like an inheritance or a professional license. 

In a divorce, debts are treated the same as any other property. Before dividing a debt, the judge will have to characterize it as either marital, divisible, or separate based on when it was acquired, who acquired it, and how it was used. If the judge can’t exclude the debt from division as the separate liability of either spouse, then the court will split it equally between the spouses or apply the factors below to assign responsibility for it

The court will look at a lot of different things when deciding how to split up property in a divorce, like:

  • The length of the marriage.
  • Age and health of each spouse.
  • The earning capacity of each spouse.
  • The contribution of each spouse to the marriage, including homemaking and childrearing.
  • The relative education and training of each spouse.
  • The relative assets and liabilities of each spouse.
  • The property interests of each spouse.
  • The separate property of each spouse.
  • The income and earning potential of each spouse.
  • The standard of living is established during the marriage.
  • The relative debt of each spouse.
  • The relative need for spousal support.
  • The tax consequences of the property division.
  • The effect of any prior divorce on the property rights of either spouse.
  • During a divorce, how each spouse used their property and how their non-monetary contributions made the property more valuable.
  • Any other factors the court deems relevant.
  • Child custody for greater chances of keeping the family home.

If you’re going through a divorce in North Carolina and have questions about how your property will be divided, contact an experienced family law, divorce, and bankruptcy law attorney at Cameron Bankruptcy Law . They can help you understand the law and protect your rights.

North Carolina Marital Settlement Agreements

Divorce can be a tumultuous experience, especially if you and your spouse argue throughout the process. Divorcing couples are encouraged to work together (some courts will even order you to participate in mediation before scheduling a court hearing) to create a marital settlement agreement that works for both spouses, including property division.

If you and your spouse decide that you’d rather have the power to decide who gets the marital home or who pays the marital mastercard, you can put your agreement in writing and present it to the judge for approval. The court will approve your settlement if it’s fair to both spouses. (North Carolina General Statutes 50-20(d).) Of course, if you can’t agree, the judge will decide all the issues for you.

Alimony Based on Marital Misconduct

Although having an affair—an act deemed to be “marital misconduct”—has little impact on how the court divides the marital and divisible property, it is decisive for alimony. Alimony is a payment from one spouse to the other to help the dependent spouse maintain a lifestyle close to the one they enjoyed during the marriage.

If you had an affair during your marriage, you are not eligible to receive alimony in North Carolina. Likewise, if you were unfaithful, you will have to pay if your spouse requests alimony unless your spouse was unfaithful too. In that case, it’s up to the court to decide whether to award it.

In the absence of marital misconduct, the court will determine a request for alimony based on many of the same factors as the property division. Other things to think about are the level of education of the dependent spouse and whether that spouse helped the supporting spouse with their education and income during the marriage.

The court has broad discretion in deciding how much alimony either spouse should pay, for how long, and the manner of payments. Nonetheless, any order to pay alimony must be reasonable in light of the dependent spouse’s needs and the supporting spouse’s ability to pay. (North Carolina General Statutes 50-16.3A.)

Factors Affecting Decisions on Alimony

If you divorce without a prenuptial agreement and your divorce is contested, the court will consider the following factors when making alimony decisions: the spouses’ relative earnings and earning capacities.

  • The ages and physical, mental, and emotional conditions of the spouses.
  • The duration of the marriage.
  • When one spouse helps the other spouse get a better education or training, or earn more money.
  • The standard of living of the spouses is established during the marriage.
  • The education level of the spouses and the time it takes to get enough education or training to get a job to meet their money needs.
  • The relative assets and liabilities of the spouses and the relative debt service requirements of the spouses, including legal obligations of support.
  • The property brought to the marriage by either spouse is
  • The contribution of a spouse as a homemaker.
  • The relative tax consequences for each spouse.
  • Any other factor relating to the economic circumstances of the particular spouses that the court finds to be just and equitable after considering all relevant factors, including those set out in this section. (North Carolina General Statutes 50-16.1A.)

If you are considering divorce or have already filed for divorce, you may also be considering bankruptcy as a way to deal with your financial challenges. Filing for bankruptcy can give you a fresh start by wiping out your debt and giving you a chance to rebuild your credit.

Bankruptcy can be a complex and stressful process, so it’s important to have an experienced bankruptcy attorney on your side. At Cameron Bankruptcy Law, we understand the challenges you’re facing and we can help you navigate the bankruptcy process.

We offer a free consultation so that we can review your situation and answer any questions you may have. Contact us today to schedule a consultation.

 

Contact our Divorce and Bankruptcy Lawyers Now!

At Cameron Bankruptcy Law, our divorce and bankruptcy lawyers are here to help you through this difficult time. We understand the challenges you are facing and are prepared to help you navigate the divorce and bankruptcy processes. We are a full-service law firm dedicated to helping our clients find the best possible resolution for their divorce and bankruptcy issues.

We have offices in Raleigh and Charlotte, North Carolina, serving clients throughout the state. Contact us today to schedule a consultation with one of our divorce or bankruptcy lawyers. Our team is ready to help you through this tough time.

Raleigh Bankruptcy Attorneys

CALL FOR FREE CONSULTATION!

(919) 627-7748