The North Carolina Bankruptcy Information Blog

You may have read on the blog, or elsewhere, that many are calling our current economy a “middle class recession.” This is because the numbers are way up on bankruptcies filed by those who make more than $60,000 per year, up 6.9 percent from 2008. Bankruptcies on the whole are up 36.5 percent from this time last year.

So why does it matter how much money a person makes when filing bankruptcy? Well, because bankruptcy is often considered an escape route for the financially unreliable or worse yet, “something poor people do.” It’s just not true.

Today, bankruptcies are increasing among people in the real estate profession, namely developers and agents.…

You’re ready to seek professional help from a qualified bankruptcy attorney.. Now what? What should you do to prepare for your first meeting with your prospective attorney?

Step One: Quit Digging

You know the old saying about how to get out of a hole; the first step is to stop digging. Your decision to consider bankruptcy should not be accompanied by a last minute spending spree. If nothing else, this period can be a good time for you to practice a financially conservative mode of living.

Step Two: Document Your Debts

Call your prospective attorney and ask for a pre-interview questionnaire.…