CHAPTER 7 When people think about bankruptcy, they usually think about a Chapter 7 Bankruptcy.  In Chapter 7 the debtor asks the bankruptcy court to discharge most of the debts owed.  In exchange , the bankruptcy trustee can “liquidate” or seize and sell any property that is not exempt (ie, protected).  The proceeds are used [...]

Bankruptcy is a legal process in which individuals and businesses can eliminate or repay some or all of their debts under the protection of the federal bankruptcy court. Of the several bankruptcy chapters provided for in the United States Code, they boil down to two types: liquidation (sometimes called “straight”) and reorganization. Chapter 7 bankruptcy [...]

Usually, yes. But, let me explain. First of all, there are all sorts of liens. Simply put, a lien is the right to take and hold or sell the property of a debtor as security or payment for a debt or duty. The property we’re talking about is real estate. There are two types of [...]

I firmly believe that knowledge is power and that education is the key to eliminating fear and misunderstanding. I write a bankruptcy blog so that my clients can gain knowledge about various aspects of bankruptcy law. In my experience, when clients are properly educated about the law then they are less stressed, more organized, and [...]

It’s tax season and every year at this time I receive lots of frantic calls from clients who tell me that their accountants have informed them that they may owe taxes due to “forgiven debt”. In other words, they are told that the debt that they no longer owe because of their bankruptcy case may [...]

Kight Law is pleased to announce that Rod Kight has been honored in Super Lawyers™ Rising Stars Lists in 2012.  A testament to the skill and professionalism the 28th Judicial District Bar has always enjoyed, more than 50 Asheville attorneys were included in Super Lawyers in 2012, representing a significantly higher percentage than Super Lawyers’™ national inclusion average [...]

The Federal Bankrtupcy laws contain certain rights to which citizens are legally entitled.  The United States Congress created these rights within the Bankruptcy Code to provide citizens with direct avenues to free themselves from the burden of overwhelming debt, thereby maintaining a hopeful and productive society.    This idealism is founded on the premise that hopeful [...]