The North Carolina Bankruptcy Information Blog

Part of understanding bankruptcy is knowing who the professionals are that you will meet and deal with along the way. From your attorney to even your creditors, it helps provide a solid foundation of comfort to actually understand the role of those who are playing a role in your financial future.

One of those individuals is the case Trustee, the most prominent member of the bankruptcy process. And, the involvement you have with the case trustee depends on which chapter of bankruptcy you are filing.

As you may know, the 2 main “chapters” are 7 and 13. Well over 95% of all bankruptcy cases filed are filed under Chapter 7 or Chapter 13.…

What should you do if you need to buy a car before you have finished repairing your credit, or while you still have payments to make in a Chapter 13 bankruptcy? If you are used to buying new cars straight from the dealership, be prepared to adjust your approach.

Did you know that a $20,000 car is worth a couple thousand dollars less the second you drive it off the lot? A used car in good condition is often just as a good as a new car, because part of what you pay for in a new car is merely the cachet associated with having something new.…

If you have made your way through bankruptcy and the old clunker is starting to make noises that you more associate with an exhausted yak than an internal combustion engine, maybe it’s time for you to consider buying a new car. Or, should you lease? It’s a tough call.

Before you think about either option though, remember to consider the ancillary costs of car ownership, like insurance. If you have a few vehicle types in mind, contact your insurance agent to determine what it will take to cover them. You may be surprised at the little things that can add up to a steep insurance policy.…

As a result of General Motors and Chrysler filing bankruptcy, thousands of dealerships across the country will be shutting the garage doors and deflating their obnoxious balloon animals and banners. But first, many of them will be liquidating cars at prices that, even for a car dealer, can be considered “Out of this World!”

So if you are on your way out of bankruptcy and the time has come to for a new ride, will you be able to get a car from a dealer? Of course. Let’s discuss it.

Keep in mind that dealers are now in the business of financing cars, not selling them.…