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Bankruptcy Secrets

Bankruptcy Secrets In Raleigh NC

Bankruptcy Secrets in Raleigh, NC – What You Need to Know!

Bankruptcy Secrets in Raleigh, NC – Are you worried about filing for bankruptcy because of things you’ve heard? A lot of people believe myths about how bankruptcy ruins your credit, makes it impossible to get a job, or means you’ll never own a home. But guess what? Most of those things aren’t true! Bankruptcy can actually be a great tool to help you wipe out debt and start fresh. At Cameron Bankruptcy Law, we’re here to guide you through the process and help you gain financial freedom!

Bankruptcy Secret #1 – Chapter 7 Can Wipe Out Most of Your Debts

Bankruptcy Secrets in Raleigh, NC – Chapter 7 bankruptcy is a powerful way to erase most of your debts. And you don’t have to wait forever to rebuild your life! After just 2-3 years, you may qualify for prime interest rates on FHA, HUD, or VA loans, as long as you stay current on payments.

Bankruptcy Secret #2 – Bankruptcy Can Improve Your Credit

Believe it or not, bankruptcy can help your credit if it’s already low. Once your debts are cleared, lenders are often more willing to offer you credit, giving you the chance to rebuild your credit score!

Bankruptcy Secret #3 – Most People Won’t Know You Filed

Bankruptcy Secrets in Raleigh, NC – Filing for bankruptcy isn’t something that gets shared with the world. Your creditors, co-signers, and anyone you choose to tell will know, but it’s illegal for your boss to fire you or treat you unfairly for filing.

Bankruptcy Secret #4 – Creditors Can’t Bother You Anymore

Once you file for bankruptcy, the court steps in with something called an “automatic stay.” This means creditors have to stop calling or contacting you. If they don’t, you can even sue them!

Bankruptcy Secret in Raleigh NC #5 – Protecting Your Home in North Carolina

In North Carolina, married couples can protect their real estate with Tenancy by the Entireties. This keeps creditors from putting liens on your property unless both you and your spouse owe the debt together.

Bankruptcy Secrets #6 – Collectors Can’t Contact Other People

Thanks to the 1972 Privacy Act, debt collectors aren’t allowed to bother your family, friends, or employer about your debts.

Bankruptcy Secret #7 – Fixing Mistakes on Your Credit Report

If your credit report has mistakes, the law says credit reporting agencies must fix them. You can dispute errors, and they have to investigate and make corrections.

Bankruptcy Secrets in Raleigh, NC #8 – Truth in Lending

The Truth in Lending Act requires lenders to be upfront about all charges. If they break this rule, your debt may be wiped out!

Bankruptcy Secret #9 – You’re Protected from Unfair Collection Practices

The Fair Debt Collection Practices Act (FDCPA) makes sure that debt collectors can’t harass or threaten you. You can even tell them not to contact you at work.

Bankruptcy Secret #10 – Free Credit Report After Denial

If you’ve been turned down for credit in the last 60 days, you have the right to get a free copy of your credit report. Be sure to review it for accuracy!

Bankruptcy Secret #11 – Your Spouse Isn’t Responsible for Your Debts

If your spouse didn’t co-sign on a loan, they can’t be held responsible for your debt, even if they’re listed as an authorized user on the account.

Bankruptcy Secret #12 – Buying a Home After Bankruptcy

After your bankruptcy is discharged, you can qualify for a home loan in as little as two years! If you’re making payments during a Chapter 13, you might even be able to refinance within 1-2 years.

Bankruptcy Secrets in Raleigh, NC #13 – Keeping Your Home Safe in Chapter 7

In North Carolina, you can protect up to $70,000 in home equity in Chapter 7 if the home is in both your and your spouse’s names. This keeps your home safe from creditors.

Bankruptcy Secret #14 – Who Will Know You Filed for Bankruptcy?

The only people who will know you filed are those you tell, your creditors, and anyone at your 341 meeting. It’s public record, but most people won’t look it up.

If you’re thinking about bankruptcy and want to learn more about your options, Cameron Bankruptcy Law is here to help. We’ll walk you through the process and help you take back control of your financial future. Contact us today!

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