Blogs: Fabricius & Fabricius PLLC, Attorneys-at-Law

Our latest attorney-authored blog posts.

Pricing in Debt Collection Settlements

Wed, May 1 2013 - 12:43pm by

Consumers with old debts or old judgments frequently receive offers to settle the debt, either by a lump sum payment or via series of (higher) installment payments. They might receive differ offers on the same debt over time, even from the same collector. Where do these numbers come from?

Debt Collections Summons and Complaint: 5 Misconceptions

Sun, Jan 6 2013 - 3:30pm by

Service of a summons and complaint starts the process for the a civil lawsuit to collect debt in North Carolina, including an old

Is the Date Wrong on the Notice of Right to Have Exemptions Designated?

Sat, May 12 2012 - 10:09am by

In the process of post- judgment collection against an individual in North Carolina, the individual collections defendant is served a notice of their right to have designated certain property as exempt, preventing the creditor from selling that property to satisfy the judgment. Elsewhere on this blog, I discussed the basics of Notice of Right to Have Exemptions Designated in greater detail. In this post, I clarify a common point of confusion regarding the dates on the notice form.

Without Wage Garnishment, Are Collections Judgments a Concern?

Fri, Feb 3 2012 - 11:48am by

North Carolina is one of the few states that does not generally permit

Notice of Right to Have Exemptions Designated - Now What?

Thu, Jan 26 2012 - 10:57am by

A deputy sheriff has come knocking with a Notice of Right to Have Exemptions Designated. What does this mean, and what do you do? This post discusses the basics of claiming exemptions under North Carolina state law.

Requests for Admissions in Collections Lawsuits

Wed, Dec 14 2011 - 9:10am by

Consumers are routinely sued to collect past due debts, including on credit card accounts and other consumer loans. These collection lawsuits, like many types of civil litigation, may include discovery, where parties exchange information. The request for admission is a particularly popular type of discovery in collections lawsuits, and consumers need to aware of a couple of aspects of how these requests function.

When Do You Need a Health Care Power of Attorney?

Thu, Nov 10 2011 - 11:31am by Fabricius & Fabricius Staff

A health care power of attorney is a legal document that specifies who has authority to make health care decisions on your behalf, and provides direction and limitations on that person's decision making authority. Everyone can benefit from having a valid health care power of attorney. However, people in particular situations should be especially encouraged to execute an up-to-date health care power of attorney.

Isolating Business and Personal Assets - Protecting Business and Owner

Wed, Nov 9 2011 - 9:20am by

An important choice small business owners must make is the legal form of their business organization. Choosing amongst a corporation (s-corp or c), LLC, partnership, or sole proprietorship can have lasting economic consequences. Today, I will discuss how a business entity isolates the assets of the owner and the business. Owner liability protection, i.e. protecting the owner's assets from business debts, is widely appreciated as a reason to form a LLC or to incorporate. Less appreciated is the fact that some business structures can isolate the business's assets from the owner's debts. Of course, asset isolation is only one consideration when choosing a legal form; others, such as taxation impacts, are very consequential to a business's bottom line.

Judgments, Judgment-Proof, and Bankruptcy

Fri, Oct 7 2011 - 7:19pm by

In essence, money judgments are final orders entered by courts that a defendant in a lawsuit owes a certain sum to the plaintiff. They represent a particular stage of the life of a debt, and might arise from all manner of debts. Consumers are most often faced with judgments when a credit card lender or utility company successfully sues to collect an amount owed, an auto lender obtains a judgment following repossession of car worth less than the money owed, or a mortgage lender obtains a judgment following a foreclosure that fails to pay off the loan. The latter two are known as " deficiency judgments" and on the occasions that they are obtained, often surprise the debtor who thought losing their house or car was the end of that debt.

Is Your Estate Plan Prepared for a Bankrupt Beneficiary?

Fri, Sep 30 2011 - 11:17am by

In these uncertain economic times, many people from all walks of life are turning to bankruptcy to receive the protection they are entitled to under federal law. When planning your estate and drafting a will, one should consider the possibility of a beneficiary declaring bankruptcy. If such a bankruptcy has been filed near in time to your death, your property may go to creditors of a beneficiary instead of your family member, friend, or other beneficiary.

Bankruptcy Blog

Posts from our North Carolina Bankruptcy Attorney Blog:

The 2 Meanings of Feasibility in Chapter 13 Bankruptcy

Mon, May 20 2013 - 3:56pm by

The first meaning of feasibility is that of the "feasibility requirement" common to chapter 13 bankruptcy, chapter 11 bankruptcy, and chapter 12 bankruptcy. Simply put, the feasibility requirement is that debtor must demonstrate ability to do what is proposed in the plan, e.g. make the payments. The second meaning is disbursement feasibility: does the debtor propose to pay enough to the standing trustee that the standing trustee can then make all required disbursements to creditors.

Finding the Right Bankruptcy Lawyer

Tue, May 7 2013 - 3:10pm by

The bills are starting to pile up and the harassing phone calls are becoming too much to bear. Perhaps the situation has escalated. You are in danger of losing your home or car. Maybe you have a lien on your checking account, or worse, your wages are being garnished. Whatever the case, you have made the decision to consider bankruptcy and have decided to consult an attorney.

An internet search for a bankruptcy attorney will yield an unwieldy amount of information. So, what to do and who to hire?

New Job--Time to File Bankruptcy?

Fri, Apr 12 2013 - 11:29am by

For many, bankruptcy first comes to mind as solution utilized by a person recently unemployed. Indeed, many people do file bankruptcy after experiencing a job loss, and there are certainly many cases where bankruptcy debt relief can be very helpful when household income has declined. So why would someone file bankruptcy after income has increased?

Installment Filing Fees in Chapter 13: Use Caution

Sun, Apr 7 2013 - 2:32pm by

The filing fee for a Chapter 13 bankruptcy is $281.00, which is due to the United States Courts the instant a case is filed. However, a bankruptcy court may authorize a debtor to pay the filing fee in installments paid after filing the case. Installments offer intuitive appeal--it's a way to shift some of the cost into the future, and is one way to get started in bankruptcy with little or even no money down. However, in a chapter 13 bankruptcy, a filing fee installment payment plan can be a risky proposition.

April 1, 2013 Bankruptcy Dollar Adjustments: What to Expect

Thu, Jan 17 2013 - 10:00am by

The bankruptcy code at 11 USC 104 provides for the periodic adjustments of certain dollar figures in the bankruptcy code every 3 years to account for inflation. The next set of new figures will be effective April 1, 2013. Closer to that date, the courts will publish an official list of changes. However, the Consumer Price Index data needed for the adjustment is now available, so it is possible to predict what these adjustments will be.

The Facts on Car Loans: Eight Questions

Tue, Jan 8 2013 - 12:18pm by

When I meet with an individual considering bankruptcy who has one or more car loans, I ask a number of questions. These questions provide an essential outline of car loans in bankruptcy.

When New Means Testing Numbers Matter

Tue, Oct 30 2012 - 1:36pm by

The United States Trustee publishes official means testing numbers, which are used to complete the bankruptcy means test. The practice is for the United States Trustee to publish new means testing numbers twice annually, reflecting changes in the underlying data obtained from the census bureau and the internal revenue service. A few weeks lay between the publication of the new numbers and their effectiveness on new bankruptcy cases filed thereafter. For example, the UST published on October 12, 2012 a new set of numbers to be effective on November 1.

Heir Property: 3 Bankruptcy Pitfalls

Wed, Oct 24 2012 - 9:35am by

Not so much a legal term as it is common vernacular, "heir property" is land, homes, or other real property where the record owner is deceased, but no formal process (such as probate) has been used. Ownership vests in the heirs by operation of law, some of whom might have possession and use of the property, but the state of record title is left unresolved. Sometimes, years or even decades go by with "heir property" becoming co-owned by an increasing number of heirs of the original owner.

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