Mr. Yaeger received a B.A. degree at Duke University and a law degree from Emory University. He practices law in Durham and teaches business law at Duke University's Fuqua School of Business. He is also a frequent contributor to continuing education programs at Duke and the North Carolina Bar Association.

Mr. Yaeger's law practice concentrates on bankruptcy procedure. He has represented the debtor, the creditor and served as trustee in bankruptcy cases since 1972.