North Carolina Bankruptcy Lawyers
Could a North Carolina bankruptcy attorney help you get your financial life back?
Most people don't plan on getting stuck living under the burden of debt. But your best intentions won't help you regain control of your finances. If you want to really get rid of your debt, you may need a proven course of action.
Bankruptcy has helped thousands of people in North Carolina clear their debts and get on with their lives. It may be just what you need eliminate your debt, while protecting your home, car and future.
Find out how the bankruptcy laws apply to you during a free case evaluation with a North Carolina bankruptcy lawyer. Simply complete the free form on this page or call, toll free, 877-833-2410, and we'll connect you right away.
North Carolina Bankruptcy Options
Bankruptcy is governed and protected by state and local laws. This means that you won't have to rely on a business to live up to its promises. All your actions in bankruptcy are part of U.S. and North Carolina law, which provide protection and security for you.
The laws in North Carolina provide you two main options for clearing your debt through bankruptcy: Chapter 7 and Chapter 13. These two chapters, or options, provide different types of help, depending on your needs and goals.
Chapter 7 bankruptcy may be ideal for you if you're struggling with credit card debt, but don't have the income to get these bills under control. A Chapter 7 filing is designed to quickly clear debt relating to credit cards, medical bills and payday loans. The process typically only takes a few months, and you won't be required to make regular payments to a company or your creditors.
Chapter 7 exemptions may be used to protect your home, car and other property from a forced sale. Exemptions list the types of property that are fully protected from a forced sale during your bankruptcy, and are the reason there is rarely any property of any kind in a North Carolina Chapter 7 filing. Exemptions include:
- $35,000 for real or personal property used as a residence
- 60 days earnings if needed for family support
- $3,500 for one motor vehicle
- Up to $5,000 for other property
- $5,000 and up (based on dependents) for household furnishings, goods, clothing, appliances, books, animals, crops, musical instruments
- $2,000 for implements, professional books and trade tools
If you need to resolve debt related to your home mortgage or a car loan, then Chapter 13 may work better for you. Chapter 13 allows you to include most types of debt - including credit cards - in your filing. At the same time, it offers you the strongest protections for your property, and may allow you to keep things like houses, cars and boats even if you owe money on them.
Chapter 13, however, does take longer, and you'll need some regular income to make monthly payments to a certified bankruptcy trustee. For the duration of your case you'll be protected by the automatic stay, which stops and prevents most collection actions including foreclosure, repossession, wage garnishment, lawsuits and even those harassing phone calls and letters.
Local North Carolina Bankruptcy Lawyers are Here to Help
Before you decide which chapter is right for you, be sure you have all the bankruptcy facts about how the laws in North Carolina apply to you. If you want answers about how bankruptcy works, speak with a local attorney.
Get answers during a free case evaluation with a bankruptcy lawyer near you in North Carolina. Complete the form on this page or call, toll free, 877-833-2410 and we'll connect you right away.