Bankruptcy Chapter 7 Attorneys Near Me in Greensboro, NC
Work with Ivey McClellan, the trusted Chapter 7 bankruptcy attorneys in the Triad Area, to hang on to your assets and stop harassing phone calls
Unexpected life events can negatively impact your finances. Things like medical bills and credit card debt can leave you feeling like you’re hopelessly drowning. If you’re searching for debt relief in Greensboro, North Carolina, Ivey McClellan is the preferred choice.
We work with individuals (and some businesses) to get a fresh start and resolve financial issues with the help of a Chapter 7 bankruptcy filing. This includes helping you obtain the protection offered by the bankruptcy laws prohibiting harassing phone calls from creditors and lenders.
Contact a Chapter 7 Bankruptcy Attorney Today
Chapter 7 Bankruptcy
Even though businesses and individuals may be eligible to file for Chapter 7 bankruptcy in Greensboro, it’s usually just consumers who fall between certain income brackets that file. If you’re eligible, and you successfully file, Chapter 7 can discharge debts including:
- Unsecured debts (credit card and medical bills)
- Car payments
- And more
Filing for Chapter 7 bankruptcy can help you hold on to your property, stop the harassing creditor phone calls with automatic stay, and get you a clean state to start anew.
Chapter 7 Bankruptcy Attorneys In Greensboro, North Carolina
Filing for any type of bankruptcy is a serious decision, and doing so can be a complicated process. For example, individuals filing for Chapter 7 bankruptcy will need to fill out a variety of documents including a means test.
The means test is a notoriously complicated document that essentially calculates your average monthly income, your adjusted income, the debts you owe, and additional financial details. Because filing for bankruptcy Chapter 7 can be challenging and confusing, it’s recommended you work with an experienced attorney near you here in Greensboro, North Carolina.
Ivey McClellan has years of experience handling Chapter 7 bankruptcy cases and our attorneys are ready to fight, negotiate, and file on your behalf. Together we can walk through your federal exemptions, discuss bankruptcy limitations, determine eligibility, and more.
Talk To Ivey McClellan Chapter 7 Bankruptcy Attorneys To See If You Qualify
One of the preferred ways to find if you’re eligible for Chapter 7 bankruptcy is to schedule a consultation with our team of attorneys. We’ll discuss your unique situation and cover things like:
- How much you owe in credit card or medical debt
- Receiving harassing phone calls and letters from lenders
- Your credit score
- Whether you’re struggling to keep up with payments
We use this information to see if you’re eligible and work towards a favorable outcome for you. Plus, we’ll be able to determine whether you’re exempt from completing the Chapter 7 means test depending on how your income compares to the North Carolina state averages.
Chapter 7 Reaffirmation Agreements And Wage Garnishment In Greensboro, NC
Ivey McClellan’s team of attorneys near you is ready to help you keep assets that are important to you. First, let’s walk through the types of debt you may already have.
This type of debt refers to loans or lines of credit that were secured without collateral. Instead of having a physical asset to back up the loan or credit, your credit score or financial history is used to determine how likely you are to repay the creditors. Examples of this type of debt include:
- Credit cards
- Medical costs
- Student loan debt (which may not be eligible for discharge)
Secured debt is different from unsecured debt in that there is physical collateral supporting the loan — instead of a score or history. This means that the creditors may have the ability to take back an asset if payments aren’t made. For example, secured debt may include:
- House mortgages
- Car payments
- Home equity credits
Some types of debt may not fall under the categories above and likely aren’t eligible for discharge under Chapter 7 bankruptcy. Talk with a team of expert attorneys near you to discuss any of the following:
- Student loans
- DUI accident costs
- Debts you acquired through fraudulent activity
Typically, Greensboro attorneys will try and get most of your unsecured debts discharged under Chapter 7 bankruptcy. If you have secured debts, these may be able to be discharged — however, it’s likely that the asset will need to be surrendered. If you have a car payment, for example, you may need to surrender the car in order to discharge the remaining debt.
In some cases, you may be able to file what’s called a reaffirmation agreement. This agreement lets debtors hold on to their assets so long as they keep making payments. It’s common for many debtors to try and discharge their unsecured debts in order to afford payments for the secured ones, as one of the benefits of bankruptcy is to provide those struggling with debt a chance to catch up. For example, if you’re unable to keep up with your credit card payments, and your car payment, you may be able to discharge your credit card debts in order to keep paying for your car.
Automatic Stay With Chapter 7 Bankruptcy
If you owe outstanding debts to a creditor or lender, they may be able to sue you for repayment and garnish your wages. This means that if the creditor you owe wins in court, they can contact your employer who then reserves a certain amount of your paycheck for the creditor.
If your wages are currently being garnished to repay creditors, Chapter 7 bankruptcy attorneys may be able to help you get an automatic stay which provides a shield between you and your creditors. An automatic stay temporarily protects debtors from their collectors including harassing phone calls and wage garnishments.
Speak with experienced Chapter 7 bankruptcy attorneys in the Triad Area before filing for bankruptcy, or deciding upon a reaffirmation agreement. An attorney can walk you through your options to make an informed decision about your financial future. Our attorneys can help prepare the necessary bankruptcy forms, guide you through bankruptcy court proceedings, and more.
Schedule A Consultation With Trusted Bankruptcy Attorneys Near You
Partnering with an experienced attorney can help you petition for Chapter 7 bankruptcy. If you’re overwhelmed by the costs of medical bills, credit card debt, or some other type of debt, give us a call and schedule a consultation. Ivey McClellan works with individuals who are struggling with debt and considering bankruptcy as a viable option. We’re ready to analyze your situation and find an outcome that most favors you. Work with our Chapter 7 bankruptcy attorneys to get your fresh start today.