Business
Will I go to jail if I don’t pay my debts?
A recent question on Avvo caught my attention. The questioner had taken out a loan with a local finance company. He defaulted on the loan because his hours at work were cut from 40 to 26 and he couldn’t afford to make the loan payments. When he took out the loan...
Will my membership interest in a North Carolina LLC be impacted if I file bankruptcy?
There was a really good question posted on AVVO.com today regarding the impact of bankruptcy filing on a member’s interest of an LLC. As an Asheville bankruptcy lawyer, this was my response: Frankly, I have found that the NC statute (NCGS 57C-3-02) is one that many attorneys, including bankruptcy attorneys,...