Greenville, NC Chapter 13 Bankruptcy Lawyers Walking Clients Through the Complex Bankruptcy Process

Once you’re in debt, it can feel impossible to get out of it. But the reality is that you have options for financial relief, including Chapter 13 bankruptcy. If you owe a lot in secured and unsecured debts, and you have enough steady income for a repayment plan, Chapter 13 may be right for you. A skilled bankruptcy lawyer who practices bankruptcy law in North Carolina can determine if you qualify for this debt relief solution.
If you’re interested in learning more about Chapter 13 bankruptcy, contact Gillespie & Murphy, P.A. for legal answers from attorneys who have guided numerous clients through bankruptcy court in North Carolina. We’re happy to offer you a free consultation with caring attorneys at our Greenville law firm, so call us to learn about the bankruptcy process.

What Is Chapter 13 Bankruptcy?

If you’re considering filing for Chapter 13 bankruptcy, you should learn how it works. With this debt relief option, you will create a payment plan to catch up on what you owe creditors. This way, you can keep your assets even if your payments are in arrears now, since your repayment plan will assure creditors that you will pay your debts within three to five years.
First, you’ll need your creditors to agree to your proposed payment plan, which your Chapter 13 bankruptcy lawyer can help with. Once the payment plan is approved, you can send monthly payments to creditors. After the Chapter 13 payment plan period is over, your debts will be discharged.
At that point, any creditor who agreed to the payment plan can’t call you or threaten wage garnishment for having been in arrears before you filed. If you’re curious if Chapter 13 bankruptcy could solve your financial problems, call our Greenville law firm for a free consultation with a bankruptcy attorney.

Why Should You File for Chapter 13 Bankruptcy?

Many debtors file for Chapter 13 bankruptcy due to its many benefits. One is the automatic stay, which means as soon as you file bankruptcy with the courts, your creditors cannot contact you for past-due payments. All debt collection techniques must be put on pause due to the automatic stay, including foreclosure proceedings.
This means you will have time to work on your financial situation before losing your house to foreclosure or having other assets seized. In fact, one of the main benefits of filing for Chapter 13 bankruptcy is that you don’t have to sell your assets to pay your debts. That’s what repayment plans are for since you can keep your property as long as you’re current on the plan payments.
If Chapter 13 bankruptcy would resolve your financial hardships, consider filing to pay off secured and unsecured debt. When you come to our law firm for a free consultation, a skilled North Carolina Chapter 13 bankruptcy lawyer will discuss the pros and cons of this option. Our attorneys have practiced bankruptcy law for years and can answer questions, including which unsecured and secured claims to include in your Chapter 13 bankruptcy plan and what filing fee the court will charge. Call our law firm to arrange an initial consultation with an experienced Chapter 13 bankruptcy attorney in Greenville.

How Do Repayment Plans Work?

When you talk to an attorney about bankruptcy, debt consolidation, and other debt relief solutions, you will learn which route is ideal. As such, before filing for bankruptcy, you should speak with a lawyer who is well-versed in bankruptcy law in North Carolina. They can tell you if you qualify for Chapter 13 bankruptcy and set up your payment plan if you do.
When you meet with our experienced North Carolina attorneys, we will determine if you’re a good candidate for filing Chapter 13 bankruptcy. This starts by ensuring you have the disposable income to pay each creditor. If you don’t, your bankruptcy lawyer can help you consider alternatives for eliminating secured and unsecured debt, such as Chapter 7 bankruptcy.
If your disposable income allows you to make payments, the next step is ensuring your debt is under the maximum according to the Bankruptcy Code. As long as your debts don’t total more than $2,750,000, and you have disposable income for a payment plan, you should qualify for Chapter 13 bankruptcy in North Carolina.
If you proceed with your case, your North Carolina Chapter 13 bankruptcy lawyer will help you make a repayment plan that’s likely to be accepted by secured and unsecured creditors. Once it’s approved by each creditor and the bankruptcy court judge, you’ll start paying through a payroll deduction. Contact our law firm to talk to our North Carolina Chapter 13 bankruptcy lawyers once you’re ready to learn more about this fresh start for your finances.

How Can an Experienced Attorney Help with Chapter 13 Bankruptcy?

If you’re struggling to pay personal loans, medical bills, and other debts, filing for Chapter 13 bankruptcy in a North Carolina court may be the right decision. An attorney from our Greenville law firm can review your finances and let you know if Chapter 13 is a suitable way to get the fresh start you want. When you contact us, our lawyers will help calculate how much you can pay monthly, what court and attorney fees to expect, and which debts to include.
At Gillespie & Murphy, P.A., our lawyers have years of experience getting debtors the best possible outcome by filing Chapter 13 bankruptcy through the North Carolina courts. When you hire one of our attorneys, you can trust that your Chapter 13 case will be in capable hands from start to finish. If you’re ready to learn about attorney fees, court filing fees, and other Chapter 13 basics, call us at 252-418-2888 for information from a skilled lawyer.