Greensboro, North Carolina, Chapter 7 Bankruptcy Attorney
Chapter 7 allows people who qualify to discharge most types of debt. You will not have a repayment plan and the process will, in general, take approximately three months from filing to discharge or case conclusion.
We all make mistakes. Fortunately, the federal Bankruptcy Code provides a remedy that can give you the fresh start you and your family need.
A Pathway to End Debt and Collections
Some people believe that if they file for bankruptcy, they will automatically lose their car, their home, their retirement and all their possessions. The reality is that in many situations you can work through Chapter 7 bankruptcy to discharge your debt while keeping many and possibly all of those possessions.
The 2005 changes to bankruptcy laws require filers to pass a means test to file for Chapter 7 — even if you don't pass, you still have substantial options under Chapter 13. The first step is to work with a professional who will:
- Help you determine whether you are eligible for Chapter 7
- Work to immediately stop creditor harassment and collections
- Fully review your financial situation and determine the best path
- Keep you involved in the process and informed of your options
- Take into consideration tax implications (forgiveness of debt outside of bankruptcy is taxable income)
- Help you plan for rebuilding your financial health
There is no magic threshold at which a lawyer can say you should or should not file for bankruptcy. Each person has a different threshold based on different situations, but what is important is to know that you have a legally protected right to real options. If you are swamped by unsecured debt, credit cards, medical bills or even toxic house payments, and you need dependable legal advice, I can help you move forward and get a fresh start.
Working to Return Your Peace of Mind
There is no doubt that bankruptcy can be a stressful and difficult period for people, but for many people it is a pathway to a better life and a more secure future. I see people every day who take themselves out of financial catastrophe and get a second chance at their lives.
To schedule a free consultation and financial review at my office, call 336-274-0352 or contact me online.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
