Does Bankruptcy Include Car Loans

Does Bankruptcy Include Car Loans?

If you’re wondering, does bankruptcy include car loans, the answer is yes it does. When filing bankruptcy, you actually get a choice when it comes to car loans. This article addresses a few scenarios regarding car loans in bankruptcy, and we hope it’s helpful. If you have further questions or would like to take next steps to file, call us at 704.749.7747 or click for a FREE CASE EVALUATION and we will reach out shortly.

Repossessed Vehicle Car Loans

If you have an old car debt still lingering on your credit report, a Chapter 7 or a Chapter 13 bankruptcy will address the debt. You will not have to pay the face value on the debt and there’s nothing the creditor can do to keep you from discharging the debt. As long as the property (the car) has been returned to the lender, or totaled out by your insurance company due to an accident, the bankruptcy filing will address the old car debt.

Can I Keep The Car I’m Driving?

If you currently have a car with a loan, you can choose to keep the car and the loan, when you file bankruptcy. Nothing will change between you and your vehicle lender. The general rule is if you want to keep the car, you have to keep the debt. However, you can also surrender your car to the lender and force them to take the debt with it. Bankruptcy puts you in a powerful position in this regard.

What If I’m Behind On Car Payments?

If you’re behind on car payments you’ll need to file a Chapter 13 to allow you to catch up on the payments. This is a great solution which allows you to keep the car, and forces the lender to give you some time to catch up. You can file a Chapter 7 if you’re behind but by the time your 341 meeting comes, you’ll need to be current on payments. You can also choose to Redeem Your Vehicle in a Chapter 7.

What Happens When I Surrender A Vehicle In Bankruptcy?

If you choose to surrender the vehicle in bankruptcy, you simply need to make arrangement with the lender to deliver the car to them, or allow them to pick up the car at a location you designate. This can be your house, work, or some other location. You will most likely be able to drive the vehicle a few weeks after the bankruptcy filing, but arrangements will need to be made to physically deliver the car to the lender quickly.

What If I Need A New Car?

Most clients in need of a new car, purchase one right before filing bankruptcy. Then, when the bankruptcy is filed, the client indicates they want to keep the new car and the new car loan. They also indicate they want to surrender the old car and the old car loan. It’s tougher to get a loan right after filing bankruptcy, which is why this order of things tends to work. Again, the new car lender relationship is not complicated by the bankruptcy filing. You’ll continue to make payments on the new car through the bankruptcy and after.

Speak With A Charlotte Bankruptcy Lawyer Today

Does bankruptcy include car loans? YES. If you have questions about whether bankruptcy includes car loans, please feel free to call us at 704.749.7747 or click for a FREE CASE EVALUATION. We know you have choices. We hope you choose to Recover With Us.

Santa damaged my roof

Santa Damaged My Roof – Can I Sue?

Many homeowners notice damage to their roofs in the new year; however, rarely do they make the connection between the damage and the recent visit from Santa Claus. While not as expensive as car accidents, roof repairs are expensive and you may be entitled to damages. We can help you determine what your case is worth. This article helps you to understand your rights against Santa and anyone else who may be liable for the damage to your roof. If you want to know more about your rights against Santa Claus, please call 704.749.7747 or click for a FREE CASE EVALUATION.

Who Is Responsible For Damage To Your Home?

If someone comes to your home and causes damage, they are generally responsible for their own torts. In North Carolina, if that individual was operating a motor vehicle under the influence of alcohol or drugs you may be entitled to punitive damages. While Santa’s sleigh is not specifically mentioned, you can find the definition of a Motor Vehicle HERE, and we would argue Santa’s sleigh is included. Additionally, we are all aware of Santa’s tendency to enjoy an eggnog here and there. If your roof is damaged and you find discarded eggnog cartons on the roof or in the Chimney, keep these as evidence in the event this matter goes to trial. In North Carolina, you have rights against drunk drivers, whether they cause a car accident or damage your home.

Was Santa An Invitee To Your Home?

The rule of law applies differently depending upon whether an individual is an invitee to the premises or an intruder. This may pose a challenge to your case. You may not have invited Santa yourself, but children are known for making a specific request for Santa to visit the home. These requests are typically made at malls across the country, in a face to face meeting with Santa Claus himself, or one of his helpers. Your social media posts of your child or children on Santa’s lap may hurt your case—another reminder to be careful before you post pictures online.

Additionally, if you or your children left a note for Santa on Christmas Eve, the note may be used as evidence to show you expected Santa to visit the home. It is common knowledge that Santa typically arrives by sleigh, pulled by reindeer. It is also common knowledge he tends to use the roof as his point of landing. As a result, it may be foreseeable that Santa would land on your roof.

Social Host Liability

One thing to keep in mind is your own liability as it relates to Santa’s visit to your home. While Santa may arrive long after your family has gone to sleep, keep in mind that if you leave food and a beverage for Santa, together with a written invite for him to come to the home, you may unwittingly be taking on the role of a social host. We’ve written about Social Hosts on this site. In the event Santa is injured on your property while delivering gifts, or gets food poisoning from under-cooked cookies or spoiled milk you placed out for his enjoyment, you may be facing a counter-claim from Santa and his attorneys.

Speak With A Lawyer Today

If your roof has been damaged by Santa Claus and his reindeer, speak with an attorney today. There may be a class action matter associated with these damages, and we can help. You can reach us at 704.749.7747 or click for a FREE CASE EVALUATION. We know you have choices. We hope you choose to Recover With Us.

Can i fire my personal injury attorney

I’m Considering Firing My Personal Injury Attorney

If you’re considering firing your personal injury attorney, there are a few things you need to know. We know it’s frustrating when your personal injury claim takes long, and we speak to individuals every day who want to fire their personal injury attorney. We try to be objective during those conversations, as the goal is to help individuals make decisions that will benefit them most.

Can I Fire My Personal Injury Attorney?

Generally, yes, you can fire your personal injury attorney. The language in your letter of representation will govern that decision, together with the state bar rules surrounding attorney-client relationship. If you choose to fire your personal injury attorney, you may owe them money depending upon the status of your claim or case. In most cases, personal injury lawyers work on a contingency fee. This means that “We don’t get paid unless you get paid.” However, if your lawyer has procured an offer or a personal injury settlement for you, they may have earned a fee which will need to be paid if you fire the lawyer and reach the same settlement on your own without the lawyer.

In most cases, when a client wants to fire a lawyer, you will find the lawyer or law firm will terminate the lawyer-client relationship and peacefully turn over the client file to the new law firm, at the client’s request. Usually, there is no fee for doing so—lawyers understand there are times when a client simply decides they want to use another lawyer or law firm.

Why Do People Fire Their Personal Injury Attorney?

In our experience, the number one reason why someone wants to fire their personal injury attorney is a lack of communication. Quite honestly, the law firm may be working diligently on the file. But, when the lawyer fails to communicate the progress to the client, the client feels as if no work is being done. When you combine this poor communication with a failure to return a few phone calls from the client, the client starts to wonder whether the lawyer cares about them at all. You can read NC State Bar Disciplinary Orders here, to see the various reasons lawyers are disciplined.

Can My Personal Injury Attorney Relationship Be Saved?

When a client calls us complaining about another lawyer or law firm, we are sure to ask a few pertinent questions. The goal is to help the client understand their options, while also insuring the client makes a well-considered choice. Often, we encourage the client to call their lawyer to ask for an update and give the lawyer a set amount of time to provide a meaningful response. Again, it could be the firm is working hard on the file and just failing to communicate that hard work to the client.

We also point out to clients that when you switch law firms, even if the old firm forwards the file over to us, it’s like starting over. Because of that, the client may be better of patching things up with their current personal injury attorney—especially if they are close to reaching a settlement.

Speak With A Personal Injury Attorney Today

If you would like to speak with a personal injury attorney today about a car accident or grocery store slip and fall, call us at 704.749.7747 or click for a FREE CASE EVALUATION and we will reach out to you shortly. If you’re concerned about your relationship with another attorney, we are happy to discuss that with you as well. We will strongly encourage you to work things out with your existing attorney, and we can give you some helpful tips on how to take next steps to accomplish that goal.

Car Accident While Pregnant

In A Car Accident While Pregnant

We have represented numerous clients who have been in a car accident while pregnant. Fortunately, in each case we have worked on, the child has been born healthy. If you would like to speak with us about how your claim is different when you’re in a car accident while pregnant, please call 704.749.7747 or click for a FREE CASE EVALUATION and we will reach out shortly.

Is My Accident Worth More Because I’m Pregnant?

Generally, your accident isn’t worth more simply because you’re pregnant. However, there are a few factors which may contribute to your case being worth more. These factors tend to exist due to the pregnancy.

  • Inability to take pain medication—If you’re in a car accident while pregnant, generally you can’t take pain medication due to the pregnancy. This means that your pain and suffering isn’t reduced by the medicine you would otherwise be able to take. As a result, we always calculate additional pain and suffering in car accident claims where our client is pregnant.
  • Stress and anxiety—In addition to the reasonable amount of stress and anxiety individuals experience as a result of a car accident, an expecting mother is concerned for her unborn child. While stress and anxiety are hard to calculate or ‘monetize’ in a personal injury claim, if you seek treatment to help you cope with stress and anxiety after the accident, this will establish proof of your experience.
  • Treatment Options Limited– Your treatment options are limited when you’re pregnant. Not only are you limited in Pain Medicine During Pregnancy, but there are also procedures physicians can’t perform if you’re pregnant, and those could increase your healing time or pain and suffering.

Does My Unborn Child Have A Personal Injury Claim?

Generally, no. Your unborn child does not have a personal injury claim. However, if they are born with a defect as a result of the car accident, that could change and they would need legal representation. A guardian ad litem would be appointed for the child (typically a parent) and a claim could be brought before the court on behalf of the minor child, if a Minor Child Settlement is reached or if the case needs to go before a jury.

While your unborn child doesn’t have a claim, your claim value should be adjusted to reflect the fact you were in a car accident when you were pregnant. Your personal injury lawyer will be sure to include a section in your demand package devoted to acknowledging the unique nature of your claim due to the pregnancy.

Is There Any Special Medical Treatment I Need?

If you were in a car accident while pregnant, you should not only consult with your primary care physician and emergency physicians, but you should also see your obstetrician-gynecologist and of course they will be attentive to the fact you were in a car accident.

Speak With A Lawyer Today

You deserve to know your rights. Call us at 704.749.7747 today to discuss your car accident. Or, click for a FREE CASE EVALUATION and we’ll call you shortly. We know you have options. We hope you choose to Recover With Us.

Does bankruptcy clear federal tax debt

Does Bankruptcy Clear Federal Tax Debt?

Bankruptcy does clear federal tax debt in some instances. This article will discuss the conditions you need in order to have your federal tax debt discharged when you file bankruptcy. If you’d like to speak with someone about federal tax debt and whether bankruptcy can help, you can also just call 704.749.7747 and we’d be happy to discuss it with you. Or, you can click for a FREE CASE EVALUATION and we will reach out to you.

Not sure how much tax debt you have, or from which years? Click to order a Federal Tax Transcript.

Tax Debt In Chapter 7

If you have federal or state tax debt and are considering a Chapter 7, your bankruptcy filing will discharge the tax debt if the following conditions are true:

  • The federal tax debt is income tax debt
  • The federal tax debt is at least three years old
  • You filed a tax return related to the debt

As it relates to the filing of a return, the return related to the tax debt must be filed at least two years before the filing of the bankruptcy. Additionally, the income tax debt you seek to discharge, must be at least 240 days old. This means the IRS must have assessed the debt more than 240 days prior to filing bankruptcy.

Any tax debt that does not meet the criteria above, or fails to qualify because you were guilty of tax evasion, will survive the bankruptcy filing. The taxes won’t keep you from an otherwise successful bankruptcy filing, but when your bankruptcy case finally closes, you will still have the tax debt which does not meet the above requirements.

Tax Debt In Chapter 13

The same rules apply for taxes in Chapter 13. However, any tax debt which survives in Chapter 13 must be paid in full during the duration of your Chapter 13 plan. For example, if you have tax debt which is only one year old at the time of the bankruptcy filing, that debt will be paid in full throughout the Chapter 13. This is not necessarily bad news—your Chapter 13 filing forces the federal and state government to allow you to schedule your payback of taxes on a 3 or 5 year plan in Chapter 13. Additionally, penalties and interest are limited during your Chapter 13.

Federal Tax Liens In Bankruptcy

If you have a tax debt which has been recorded as a lien, that lien will not be addressed by the bankruptcy. While your bankruptcy may eliminate the personal obligation under the tax debt, if the lien attached to real property (real estate, your home, etc.), that lien would survive the bankruptcy. This means that when the real property is eventually sold, the tax debt will need to be paid at that time.

Further Reading

Need help with an Emergency Bankruptcy Filing? Call us to take steps today to get filed quickly– end foreclosure or judgment collection immediately.

Speak With A Bankruptcy Attorney Today

We know that financial stress is overwhelming. One phone call can change your life. Call us today to find out answers to questions, and decide if filing a bankruptcy is the right step for you. You can reach us at 704.749.7747 and we’d be happy to discuss it with you. Or, you can click for a FREE CASE EVALUATION and we will reach out to you. We know you have choices. We hope you choose to Recover With Us.

Emergency Bankruptcy Petition

If you need an emergency bankruptcy petition filed, you will need to move quickly. Using a bankruptcy lawyer is highly recommend, especially when filing an emergency petition. Bankruptcy can be a powerful tool to stop foreclosure, prevent judgments or collection of judgments, and discharge credit card debt, medical bills, and other debt. When you file an emergency bankruptcy petition, you usually use it to stop a foreclosure.

Chapter 13 Bankruptcy

If you’re using an emergency bankruptcy petition to stop a foreclosure, most likely you want to keep the house. If that’s the case, you’ll need to consider a Chapter 13 bankruptcy filing. A Chapter 13 allows you to stop the foreclosure, and propose a three to five year plan for repaying the mortgage payments you’ve missed. Provided your Chapter 13 plan is based on your disposable income each month, and proposes to pay back the full missed payments over the plan period, you should receive confirmation of your plan.

How Quickly Can I Get An Emergency Bankruptcy Filed?

Depending upon the situation, an emergency bankruptcy petition can be filed within a day or two. You will have to take the required pre-bankruptcy credit counseling course, which can be done on the computer and takes about an hour and a half. You’ll also have to pay a fee to your bankruptcy attorney in order to get the petition filed. Click here for a quick BANKRUPTCY FEE QUOTE from us.

Will An Emergency Bankruptcy Petition Stop Foreclosure?

Yes, the filing of an emergency bankruptcy petition will stop foreclosure. A notice of the filing will be sent to the county courthouse as well as the mortgage lender and their attorney. The automatic stay in bankruptcy will prevent the lender from moving forward with the foreclosure, provided your bankruptcy attorney follows the rules for Chapter 13. After the filing, provided your plan is confirmed and you continue to make on-time payments, you should continue moving in the direction of being paid and current on the mortgage.

Is There A Downside To Filing An Emergency Bankruptcy Petition?

The only downside to filing an emergency bankruptcy petition is the risk that you and your attorney were not able to be completely thorough in examining your financial picture prior to the filing. This could result in a Chapter 13 payment which is more than you can ultimately afford. This might also become an issue if you’ve made large transfers of assets in the months leading up to the emergency bankruptcy petition filing. This is not an issue for most clients, and the benefits of the emergency filing outweigh any potential downsides.

When Will My First Chapter 13 Payment Be Due?

The filing of your Chapter 13 case sets the payment due date going forward. If you file in the 15th of February, your first Chapter 13 payment will be due on or before the 15th of March. Each payment thereafter will also be due on the 15th.

Speak With A Bankruptcy Attorney Today

Are you facing a foreclosure and want to keep your home? An emergency bankruptcy petition filing may be the answer. Call us at 704.749.7747 or reach out for a FREE CASE EVALUATION and we will be in touch today. We know you have choices. We hope you choose to Recover With Us.

Why Is The Insurance Company Investigating My Claim?

If you’ve had a recent car accident and are trying to get your property damage addressed, you may be feeling some frustration. We talk to clients every day who tell us that while the car accident was not their fault—and the police report clearly shows that—the insurance company is delaying repairing their car. The reason given is that “the insurance company is investigating my claim.” If the insurance company is investigating your claim and it’s interrupting your life, we’re here to help.

Are They Allowed To Investigate My Claim?

If the police report clearly shows the accident is not your fault, and if the other driver does not dispute fault, it would seem that the insurance company has no need to be investigating your claim. That being said, they are entitled to a reasonable amount of time to investigate the claim. We will always argue over what is a reasonable amount of time. In instances where the other driver is lying about the accident, you may face a tougher battle. Usually, from your perspective, it feels like the insurance company is simply delaying doing a necessary repair.

What Can I Do While The Insurance Company Is Investigating My Claim?

Your main concern is getting your vehicle in operating mode again, or getting a repair done. While the insurance company investigates your claim, you have no way to get to work, or pick up kids from school activities. Typically, the answer to this is to start a property damage claim with your insurance company. This might feel counter-intuitive, because the accident wasn’t your fault. First, you’re correct in feeling this way. Second, you’re right to be skeptical of an insurance company that claims to need more time to investigate an obvious claim. Lastly, your insurance company has seen this countless times and they will step in to help.

Usually, your insurance company will provide you with a rental vehicle, repair your vehicle, or both. You may even have to pay your deductible. In the end, however, your insurance company will seek reimbursement from the at-fault driver’s insurance company. This means that in the end, the other driver’s insurance company pays for the property damage. You should fight hard to not have to pay a deductible, though, this varies from one insurance company to the next.

Should I Get A Personal Injury Lawyer?

Typically, a personal injury lawyer or personal injury law firm will be more interested in your personal injury claim. Each accident claim contains both a property damage claim and a personal injury claim. We always tell clients that we don’t want to charge them for the property damage claim, so we don’t. Instead, when a client hires us to handle their personal injury claim, we offer guidance on how to proceed with getting blue book value for your car, or getting the repair properly done. We are happy to make a phone call or write a letter to the insurance company if they are not performing on the property damage end for the client.

Further Reading

If you’d like to read more articles like this one, please visit the rest of our Personal Injury Blog on this site.

Help! The Insurance Company Is Investigating My Claim!

If an insurance company is investigating your claim and you’d like to speak with a lawyer, we’re here to help. You can call us at 704.749.7747, or click for a FREE CASE EVALUATION and we’ll reach out to you. You’ll speak with a lawyer today, and you’ll understand your rights by the end of the phone call or meeting. We know you have choices, and we hope you choose to Recover With Us.

filing bankruptcy while married

Filing Bankruptcy While Married

If you’re considering filing bankruptcy while married, you’re not alone. Thousands of married couples are in your situation, and the bankruptcy filing statistics are easily found online, showing you that you’re not alone. The good news is one spouse can file bankruptcy without affecting the credit of the non-filing spouse. This article contains an examination of a few scenarios where you may want to file bankruptcy while married—even if your spouse isn’t filing with you.

One Spouse’s Debt Can Cause Anxiety In A Relationship

If one spouse brings debt to a marriage, despite best intentions, the other spouse may feel resentful of the pre-marriage debt. At the very least, as a couple, you deserve a ‘fresh start’ together and that includes being free of debt you did not decide to incur together.

Computing The Means Test In Bankruptcy

If you’re filing bankruptcy while married, you will need to disclose the income of both spouses. This is done for the purpose of passing The Means Test in bankruptcy. The reason is that the federal bankruptcy code uses household income as the starting point for determining whether you qualify for bankruptcy. If you live with your spouse, you’ll need to count their income. The good news is most couples still qualify even when counting the income of their spouse.

Lastly, there is an option to take a Marital Deduction on The Means Test. This option allows you to more accurately show the court the amount of the household income which is being used by the non-filing spouse. Ultimately, this deduction reduces your income for The Means Test. The deduction is easy to calculate and your bankruptcy attorney will walk you through it.

Protecting Your Spouse’s Credit In Bankruptcy

Your spouse’s credit will not suffer due to your bankruptcy. Your bankruptcy will not show on their credit report, nor will it come up when applying for credit of any kind. When one spouse files for bankruptcy, the bankruptcy only affects the debts of the spouse who is filing. In other words, the marriage does not change the effect of the bankruptcy from a credit standpoint.

Protecting Your Spouse’s Assets In Bankruptcy

None of your spouse’s own assets will be affected by your bankruptcy. If you have joint assets such as a house or a jointly owned vehicle, those assets can typically be protected in bankruptcy. The good news is only half of their value is counted for your bankruptcy filing when married. Lastly, if your spouse has a 401k or savings account in their name only, those assets are not part of the bankruptcy filing.

Joint Debt In Bankruptcy

If you have joint debt with your spouse, you may want to consider filing together. However, it is still perfectly fine to file without your spouse. One thing to consider is the obligation on joint debt. Most marital debt obligations are “joint and several” liability. This means that both spouses are obligated for the full balance of the debt. If one spouse file bankruptcy, that spouse will no longer be responsible for the debt; however, the non-filing spouse will still be responsible for the entire balance of the joint debt. If the non-filing spouse decides to file at a later date, that would of course eliminate their obligation on the debt.

Your non-filing spouse may choose to attempt Debt Settlement instead of filing bankruptcy. This is a common way to successfully address a small amount of joint debt or debt that belongs only to the non-filing spouse.

Vehicles In Bankruptcy When My Spouse Isn’t Filing

The only vehicles which must be disclosed as assets are those vehicles which are titled in the name of the individual who is filing. If you transferred title to a vehicle from one spouse to another within four years of filing bankruptcy, that transfer should be disclosed in your bankruptcy filing. The transfer most likely will not negatively affect your bankruptcy filing, but disclosing it is in alignment with the court’s requirements for full disclosure of all transfers to family members and “insiders” (family and friends) within a four year period preceding your bankruptcy filing.

Further Reading

You can read hundreds of articles like this one on our Bankruptcy Blog.

Speak With A Bankruptcy Lawyer Today

If you’d like to set up a free consultation about filing bankruptcy while married, you can call us at 704.749.7747 or click to request a FREE CASE EVALUATION and we will reach out to you. We know you have choices, and we hope you choose to Recover With Us.

benefits of chapter 7

Benefits Of Chapter 7 — Bankruptcy Can Change Your Life

Filing Chapter 7 bankruptcy can change your life. We have seen over and over the benefits of Chapter 7, and how much relief it provides for clients. While we understand the desire to pay back creditors, we encourage clients to put their emotional and financial life ahead of creditors. This includes making smart choices for yourself and your family. The benefits of Chapter 7 can be part of that overall plan. We’ve written articles about Whether You Qualify For Chapter 7, which you can read as well.

Get Rid Of Credit Card Debt

Filing a Chapter 7 bankruptcy eliminates credit card debt, provided the debt is more than 90 days old. Credit card lenders have no defense against the benefits of Chapter 7 bankruptcy, so long as you abide by the rules of bankruptcy. Primarily this means disclosing all pertinent information to your bankruptcy attorney before filing, and being honest with the court.

Eliminate Medical Bills

If your medical bills are more than 90 days old at the time of filing your Chapter 7 bankruptcy, they will be discharged by the bankruptcy filing. Whether you can continue to treat with a doctor or medical facility after you’ve filed Chapter 7 depends on the provider. Emergency rooms and hospitals can’t refuse you treatment, whether you have unpaid bills or even if you’ve filed bankruptcy. As to smaller doctor offices, they can choose to no longer treat you for routine healthcare visits. The easiest way to protect a relationship with a doctor you like is to file bankruptcy, and then reach out to the doctor to tell them you have filed Chapter 7 but you will continue to pay on their bill. This will keep your relationship intact.

Clean Up Repossession Debt

If you have remainder debt from a repossession, a bankruptcy will remove your personal liability from that debt. In a vehicle possession, the lender will typically repossess the car and sell it. If you owe more than they recover at the sale, you are responsible for the remainder. By filing a Chapter 7 bankruptcy, you eliminate your liability on the remainder debt.

Eliminate Upside Down Debt

When you file Chapter 7, you have a choice as to whether to keep your property (and the debt that goes with it), or surrender your property (and the debt that goes with it). For example, if you own a vehicle worth $2,500.00 that has a loan balance of $7,000.00, you essentially own a car worth negative $4,500.00. If you went to trade in that vehicle on another vehicle, you would be carrying that extra debt with you into the new purchase. By filing Chapter 7, you can choose to surrender the vehicle to the lender, with all of the extra debt. It’s easier to get into a new vehicle than you might think—we help clients with this situation every day in our office, and it makes all the difference for them.

The same is true of home ownership. If you own a home with negative equity, you can choose to surrender that home and the debt, in Chapter 7 bankruptcy. This prevents the lender from forcing a foreclosure where you may be responsible for any mortgage payoff shortage after the foreclosure.

Discharge Old Tax Debt

While the general rule is that taxes survive Chapter 7 bankruptcy, there are plenty of exceptions. If your tax debt is more than 3 years old, and you filed the tax returns a significant time prior to filing your Chapter 7 bankruptcy, there is a good chance you can eliminate the tax debt with your Chapter 7 bankruptcy. The rules surrounding this are somewhat complicated and deserve a consultation with a bankruptcy attorney in order to accurately determine if your tax debt will qualify for discharge in your Chapter 7 bankruptcy. You can also consider a Chapter 13 bankruptcy to manage tax debt which is less than 3 years old.

Eliminate Judgments

The benefits of Chapter 7 can also include eliminating judgments you may have against you. In conjunction with your Chapter 7 filing, your attorney can file a motion which will address these judgments, provided you either do not own real estate, or you qualify under the equity rules regarding real estate in Chapter 7.

Speak With A Chapter 7 Attorney Today

Consultations are free, and it feels good to take steps to protect yourself and your family. We can be reached at 704.749.7747 or you can request a FREE CASE EVALUATION and we will reach out to you shortly. We know you have choices. We hope you choose to Recover With Us.

bankruptcy expertise

How Personal Injury Settlements Work

Understanding how personal injury settlements work will shed some light on the process behind a personal injury claim. The journey from your car accident date to the date you receive your personal injury settlement can be a very long one. Rest assured, your personal injury attorney is diligently working each part of your claim throughout the process. Generally, the phases of a claim leading up to understanding how personal injury settlements work, includes the following:

Starting A Claim – The law firm will send a letter of representation on your behalf, to let the other driver’s insurance company know we represent you. This also helps to confirm if there is insurance coverage, or whether you may need to pursue a Uninsured/Underinsured Motorist Claim.

Gathering Medical Records and Bills – Your medical records and medical bills become evidence in your personal injury claim or at trial. They are used to help establish the value of your claim.

Establishing Lost Wages – If you missed work due to your personal injury, we will establish a lost wages claim which becomes a component of our demand package for the insurance adjuster.

Establishing Other Special Damages – If you have other special damages related to the injury, we will disclose those and place a value on them. Examples include: missing a family wedding, missing a vacation, etc.

Reviewing Your Demand Package – We will carefully review your demand letter before sending it out to the insurance adjuster. We are sure to get your approval and input when suggesting an appropriate settlement amount in the demand letter.

Submitting Your Demand Package – Our firm delivers the demand package to the insurance adjuster and confirms receipt of the package. We also provide any additional information requested by the adjuster after their initial review of the package.

The next part in understanding how personal injury settlements work relates to negotiating the claim. It is rare for the insurance company to give us exactly what we asked for. As a result, we will need to defend our position and show a willingness to compromise, at many stages of negotiating the claim. Once we have a first offer from the insurance company, we can decide on our next steps together, before responding with a counter-offer of our own.

Hopefully, after a few rounds of negotiations, both sides are able to reach an agreed upon settlement amount. However, before you agree to that settlement amount, it’s important to consider having us negotiate your medical billing for you. This can dramatically change the amount you receive from your settlement.

Negotiating Medical Billing

Once we know the top settlement offer, we will approach each billing provider and request a reduction in their fees. There are NC statutes which assist us in successfully doing so, like NCGS 44-49 and NCGS 44-50. Those statutes serve to limit the amount of your settlement which must go to billing providers.

Negotiating Medical Liens

Much like medical bills, understanding how personal injury settlements work includes understanding that your health insurance company may have a lien against your personal injury settlement. This lien needs to be negotiated as part of the overall settlement, prior to you accepting the settlement offer.

Reviewing The Settlement Statement

Finally, after we’ve reached a settlement amount, and after we’ve negotiated bills and liens for you, you will be presented with a settlement statement. This shows all incoming funds (the settlement amount), and continues to show you where each penny is going. This of course includes the final amount going to you. The settlement statement is helpful in understanding how personal injury settlements work, because it shows you all of the pieces of the puzzle together in one place.

Receiving Your Check

When you sign the settlement statement, you’ll receive your check. Your check is written on a NC Attorney IOLTA trust account, and as such, your bank should treat the funds as certified funds. They should be available immediately upon deposit.

Further Reading

You can click to read over 100 articles on our our Personal Injury Blog. Or you can read a specific article like When To Hire A Personal Injury Lawyer.

Speak With A Personal Injury Lawyer Today

If you have questions about how personal injury settlements work, or if you’d like to speak with us about an accident you were in, please call 704.749.7747 or click for a FREE CASE EVALUATION and we will reach out today. We know you have options. We hope you choose to Recover With Us.