Cumberland County, North Carolina, Legal Blog

As you entered your adult years, you likely hoped that you would have a good job and earn an income that allowed you to live your life without financial worries. While many North Carolina residents have this desire, it does not always work out. Though you may have obtained gainful employment and felt comfortable in your financial situation for a time, money problems may have come about more quickly than you anticipated.

If you are facing considerable debt, you are not alone. Numerous people find themselves in this type of predicament for a variety of reasons. In some cases, circumstances outside of a person's control could have led to the ordeal, and in others, poor personal choices could have contributed.

Divorce is not an easy process, but there are choices available to you that can help you make it less stressful and complicated. Some North Carolina couples find it is possible to seek an uncontested divorce, which is often a much faster and easier process than a traditional divorce. Before you move forward with any important decisions, it may be helpful to consider this option.

The choice to end your marriage will affect many parts of your life, including your finances and your relationship with your children. It is in your interests to think carefully about the choices you make and consider their long-term impact. Even with an uncontested divorce, it is prudent to ensure the protection of your rights and future interests.

If you are putting off the important work of creating an estate plan, you are not alone. Most people come to the end of their lives with no provisions for their loved ones or their assets, leaving others to make critical decisions. Often, these decisions are nothing like what the deceased would have made if he or she had taken the time to make an estate plan.

Some people may have more urgent reasons to make a will or establish a trust, such as having a loved one with special needs or needing to protect a family business. If you do not relate to these situations, you may need to understand some more common reasons why having an estate plan, sooner rather than later, is a wise idea.

One of the biggest fears that North Carolina residents have regarding bankruptcy is the thought of losing personal property. There are a lot of misconceptions about consumer bankruptcy, and one of the main concerns is how non-financial assets will be dealt with by the courts. In reality, it is quite possible you will be able to keep most of the things that are important to you.

Chapter 7, the most popular option for consumer bankruptcy, is liquidation bankruptcy. This process requires the liquidation of certain assets in order to pay off debts. If you file for Chapter 7, it is true you may have to surrender some of your property, but it does not necessarily mean you will have to give up everything. There are certain exemptions that may be available to you.