If you have been looking for the best bankruptcy lawyers in North Carolina, search no more. On our site, you will find links to the most acclaimed legal professionals in the state who have been successfully representing clients with their financial needs for years. Feel free to browse through individual attorney profiles to learn about their background, case history and accolades so you can choose the representative that best suits your needs.

No matter which bankruptcy lawyer you pick, rest assured that you will be working with a top professional who has dedicated their life to helping you overcome your debt. They will work closely with you so you understand the process involved in filing for bankruptcy and will take care of all the details of your case so you won’t have to worry about anything during proceedings.

Call one of our experienced bankruptcy attorneys in North Carolina today and take one step forward in becoming debt free.

North Carolina Bankruptcy Facts

There comes a point in which debt piles on and on to where it becomes unmanageable. Owing money to creditors can affect several aspects of a debtor’s life, including their ability to obtain loans, interests rates and can even lead to foreclosure. However, through bankruptcy protection, debt relief can be obtained quickly and with as little hassle as possible.

Bankruptcy is a federal process that aims to reduce or possibly even eliminate debt altogether. There are several different chapters that can be filed, each having its own prerequisites and outcomes, but two main chapters are most commonly filed in North Carolina: Chapter 7 and Chapter 13.

If you have considered filing for bankruptcy in North Carolina, the following are some important facts regarding Chapter 7 and 13 to help you determine which option is best for your particular financial needs.

Chapter 7 Liquidation Bankruptcy

Known as liquidation bankruptcy, Chapter 7 is the most popular chapter of the U.S. Bankruptcy Code filed in North Carolina because it completely wipes out debt and gives debtors a fresh start. It can be filed by both individuals and corporations and proceedings can resolve in as little as 3 months. The ideal candidate for Chapter 7 bankruptcy in North Carolina will own little property to limit the number of assets that are liquidated and earn income below the median for a family of equivalent size in the state.

However, even if the debtor’s income exceeds the average in North Carolina, other factors can be reviewed to determine eligibility, including whether you are unable to pay 25% or more of your unsecured debt. Even if a debtor does not qualify for Chapter 7, Chapter 13 can still be an option.

Chapter 13 Reorganization Bankruptcy

If you do not qualify for Chapter 7 or simply prefer not to have your assets liquidated, Chapter 13 may be the ideal option for you. Known as “reorganization bankruptcy,” Chapter 13 is a popular petition because it allows debtors to pay what they owe to creditors through a court-appointed payment plan lasting 3-5 years and unlike Chapter 7, without the need to liquidate any assets.

Ideal candidates will have regular income, own a home and are in danger of foreclosure, or are behind on debt payments but have the ability to catch up if given some extra time.

Obtaining a Bankruptcy Lawyer in North Carolina

Filing for bankruptcy protection is not easy, but having an experienced North Carolina bankruptcy lawyer on your side can make a world of difference. Our featured attorneys will help you with every aspect of your case, from itemizing your expenses to working out debt relief plans with creditors. They will stop at nothing to ensure a favorable resolution for your case is attained.

Contact a North Carolina bankruptcy attorney today to discuss your best options for debt relief.