Personal Bankruptcy

Chapter 7

For a person struggling with credit card bills, medical bills, and never-ending telephone calls from creditors, Chapter 7 bankruptcy may be the only salvation left if he or she is unable to afford the financial demands made of them. Contrary to popular belief, most people that file Chapter 7 ("Debtors") are able to keep most, if not all, of their property. Further, the entire process may take as little as four (4) months from beginning to end, leaving the debtor free from the vast majority of debt obligations. In the typical case the client never has to appear in front of a bankruptcy judge, although an appearance at the bankruptcy creditor meeting is usually mandatory. Lastly, most of our clients regret having waited so long since the attorney fees and court costs to file bankruptcy often pale in comparison to the thousands of dollars already paid to creditors, despite their balances growing.

Chapter 13

With the rebound in the housing market Chapter 13 bankruptcy is starting to rebound as well. Due to the difficulty in obtaining a loan modification, many Debtors find Chapter 13 bankruptcy the only option to stop a foreclosure. Debtor’s seeking to stay in their house are generally required to resume their normal monthly mortgage payments, plus repay the mortgage holder for the missed monthly mortgage payments "arrears"). If a Debtor makes timely payments to the Chapter 13 trustee during the standard 3-5 year plan, they emerge from bankruptcy current on their home mortgage and free of most other debts. Lastly, Chapter 13 is the destination for those Debtors that want to file bankruptcy, but earn more than the average North Carolinian in their circumstances.

Whatever the direction you are headed in we look forward to discussing your bankruptcy options. We offer a free bankruptcy  consultation so give us a call at (704) 493-6851 today.
**11 U.S.C. 528(a)(4) NOTICE. We are a debt relief agency. We help people file for bankruptcy relief under the federal Bankruptcy Code.**