Jacksonville, NC Debt Settlement Lawyers Using Legal Knowledge to Help Clients Improve Their Financial Situation

When you’ve been in debt for a long time, the idea of being debt free in the future can seem impossible to fathom. But you have more options than you might realize, as an experienced attorney can guide you through helpful processes that include debt settlement and bankruptcy.
If you’re curious about how these debt relief options can resolve your debt, contact Gillespie & Murphy, P.A. for a free consultation with our caring, skilled bankruptcy attorneys. When we sit down with you at our Jacksonville law office, we’ll review your financial circumstances and recommend the most suitable way to eliminate the debts that are holding you back from financial freedom.

What Is Debt Settlement?

One way to resolve your financial issues is to hire a lawyer to help with debt settlement. When you initiate this process, your lawyer will contact your creditors to ask if they will reduce the total amount you owe if you can send in a lump sum now rather than continuing to make payments over time.
Many creditors are open to negotiating with debtors and their lawyers via debt settlement, mainly because they’d rather get a large portion of the money now than risk the possibility of the debtor being unable to afford the payment in the future. This is especially the case if the debtor has been paying late or not at all recently.
When debt collectors approve a debt settlement plan, they typically agree to reduce the total amount owed. Experienced North Carolina attorneys can often negotiate the debt down to about half of the original total, which is why you should consider this option to get out of debt as soon as possible. Contact our Jacksonville law firm to learn more about how we can use debt settlement and other solutions to stop creditor harassment.

Should You Consider Bankruptcy?

Another way to get out of debt with the help of a lawyer is to file for bankruptcy. Skilled bankruptcy lawyers can help you choose the right chapter for your situation, which will depend on your income and goals for your financial future.
Chapter 7 is one of the most popular bankruptcy filing options, as it discharges your debts without requiring you to repay your creditors with a payment plan. You can typically even keep most of your assets when filing Chapter 7. However, to qualify, your income must be below the median income for households the same size as yours in North Carolina. A bankruptcy attorney from our law firm can determine if your income makes you eligible for this chapter.
If your income is too high for Chapter 7 bankruptcy, you should consider Chapter 13 instead. This involves you and your bankruptcy attorney working together to create a payment plan to repay your creditors over the next three to five years. In most cases, you’ll end up paying less than the original total on each debt you owe when you file for Chapter 13 bankruptcy. In addition, as you pay down your debts through Chapter 13, you can keep your house, car, bank accounts, and other assets.
Whether you file for Chapter 7 or 13, debt collectors won’t be able to contact you and harass you once you file your petition with the court. If you’re interested in getting loans, credit cards, medical bills, and other debts discharged through bankruptcy, contact our law firm to learn more. Our attorneys would be happy to explain the benefits of bankruptcy to you and ensure you understand the Bankruptcy Code before filing on your behalf.

How Will Legal Guidance Benefit You?

When you’re dealing with financial issues, it’s understandable to feel like you don’t have the energy to reach out to a legal professional or a debt relief agency for help. You might think your only option is to keep trying to catch up on your bills alone or even ignore the phone calls from creditors demanding money. But it doesn’t have to be this way. You deserve to get assistance from professionals who are equipped to improve your financial future.
You should not have to continue dealing with threats of foreclosure, wage garnishment, or lawsuits because you can’t afford to pay your bills. Constantly dodging phone calls and watching your bills keep piling up can lead to stress, which can cause mental and physical health issues. Before it gets that far, contact our law firm to learn your options. We will review your finances and determine if debt settlement, bankruptcy, or other legal methods would be right for you.

Are You Ready to Contact Our Jacksonville Law Firm?

When you approach Gillespie & Murphy, P.A., for legal guidance on your financial problems, you can expect to meet with a caring team that has achieved favorable outcomes for clients across Eastern North Carolina. We understand that the idea of contacting your creditors on your own to negotiate debt relief can feel overwhelming, so we encourage you to let us do it for you.
Whether you want to get your debt discharged through bankruptcy or would like to try settling your debts so they’re easier to pay off this year, we can help. When you meet with a bankruptcy attorney from our firm for a free initial consultation, we’ll discuss your desired outcome and review your financial situation before recommending the right route.
Once we come to an agreement on the legal action to take, you can rest assured that we’ll be here every step of the way. We’re committed to answering your questions, staying in contact with your creditors, and ensuring you’re ready for any court hearings during your case. Call us at 910-766-9098 to schedule your consultation.