![\"Consumer](\"https:\/\/www.iveymcclellan.com\/wp-content\/uploads\/2020\/11\/consumer-bankruptcy-attorneys-e1605035371742.jpg\" "\\"consumer")
\nThere are countless individuals in Winston-Salem, North Carolina, who unexpectedly incurred high medical or credit card bills or experienced other setbacks that caused them to lose their financial footing, making it necessary to seek debt relief. There are many businesses in Forsyth County that perhaps didn’t make the best financial decisions, and their company may find itself in an undesirable financial situation as a result. Our firm’s Forsyth County bankruptcy lawyers have extensive experience handling both individual and business bankruptcy filings and can provide you with a guiding hand every step of the way in your case in the Middle District of North Carolina<\/a>.<\/p>\n Each bankruptcy type is referred to by a chapter number that corresponds to the section of U.S. bankruptcy law. There are six different types of bankruptcy, according to the United States Courts<\/a>. Some of the most common bankruptcy filing types debtors file in the Middle District of North Carolina include:<\/p>\n The three other important but less commonly filed types described in the bankruptcy code include:<\/p>\n Since many prospective clients reach out to our bankruptcy law firm from Pfafftown, Tobaccoville, Clemmons, and Bethania, in addition to the biggest city in Forsyth County, Winston-Salem, who find themselves encumbered by personal debts and face the prospect of losing their homes, we think it’s important to focus a section of this page on some common concerns they have.<\/p>\n <\/p>\n\t\t\t\t Individuals who file for the discharge of their debts via Chapter 7 bankruptcy must pass a means test, which looks at their income-to-debt ratio for their household size. If it seems plausible that they’d have the means to make backup payments if allowed to enter into a payment plan, then the bankruptcy Court will convert their case to a Chapter 13 one.<\/p>\n In the case of Chapter 7 bankruptcy, even though it’s known as a liquidation type of bankruptcy, there are exempt and non-exempt assets. Bankruptcy exemptions are state-adjusted allowances for certain assets like household furnishings, jewelry, clothing, tools, and interest in a home or a single vehicle that are entitled to without fear of them being sold off to repay creditors. Our state’s lawmakers decide on and publish the listing of NC bankruptcy exemptions<\/a>.<\/p>\n While some bankruptcy filers start with Chapter 7 and have their cases converted by the court, others file Chapter 13 from the get-go because they want to keep them. In those cases, the repayment plan allows debtors in possession of secured assets to make timely payments necessary to retain their home and avoid foreclosure of their newer vehicle and stop repossession.<\/p>\n\t If you file Chapter 7 bankruptcy as an individual or joint filer with your spouse, it’s important to know that there are a few different debt obligations you cannot have discharged like other unsecured debts. Debts you generally cannot include, except under very rare circumstances, include:<\/p>\n You may not be able to request relief from paying credit card debt if you incurred it by attempting to pay off non-dischargeable debts (like the ones above). Additionally, debts incurred within 90 days of your filing for bankruptcy may not be dischargeable either.<\/p>\n As you’re considering filing your bankruptcy petition, you’re probably wondering how to expect things to progress after doing so. Generally, bankruptcy proceedings happen as follows:<\/p>\n Now, of course, the steps above best describe how a case may proceed if an NC resident or spouse declares bankruptcy like Chapter 7, but not ones involving individual debtors or businesses pursuing a reorganization bankruptcy where drafting a payment plan, making timely payments, and attending hearings or submitting paperwork to the Court to keep them in the know about your progress is necessary. This is why it’s so critical for you to meet with a bankruptcy lawyer in Forsyth County like ours at Ivey McClellan to discuss your specific case so that they can advise you on what to expect at every step of the process.<\/p>\n Bankruptcy, like most legal matters, is something you can handle on your own without a lawyer’s assistance, but doing so is ill-advised. Why?<\/p>\n It has to do with bankruptcy attorneys having an understanding of the different bankruptcy chapters. It’s important to know which chapters of bankruptcy<\/a> may be ideal for you to file in your specific situation. Plus, bankruptcy codes, like most laws, are complex. Making sense of bankruptcy laws and how they apply to your case can prove challenging without any prior legal training.<\/p>\n That’s not to say that just any attorney makes for an ideal bankruptcy lawyer, though. It’s important to find an experienced bankruptcy lawyer and, during that free consultation with them, to ask questions like the ones we detail below.<\/p>\n Some details you may want to inquire about to determine whether an attorney is the right fit for your case include:<\/p>\n Our attorneys serve pursuing debt relief anywhere in Winston-Salem and places in between, like Kernersville, Clemmons, Rural Hall, and Lewisville. We are eager to help you navigate the bankruptcy court system in the Greater Piedmont Triad so that you can move forward in personally regaining control of your finances or putting your business back on a growth path once again. Contact us to speak with a bankruptcy lawyer<\/a> in Forsyth County and make the creditor calls and stress stop today.<\/p>\nNorth Carolina Bankruptcy Filing Options<\/b><\/h2>\n
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Factors Piedmont Triad Residents Should Consider When Filing Personal Bankruptcy<\/b><\/h2>\n
![\"Bankruptcy\"](\"https:\/\/www.iveymcclellan.com\/wp-content\/uploads\/2023\/07\/Bankruptcy.jpg\")
\n\tChoosing Between Chapter 7 and Chapter 13 Bankruptcy<\/h3>\n
What Debts Can’t Be Included in a Forsyth County, NC Bankruptcy Case?<\/b><\/h3>\n
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Steps in the Bankruptcy Process\u00a0<\/b><\/h2>\n
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How an Experienced Bankruptcy Attorney Helps You<\/b><\/h2>\n
What To Look For When Choosing a Bankruptcy Attorney to Represent You<\/b><\/h2>\n
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\n\t\tSchedule An Appointment\n\t<\/h2>\n
\n\t\tOffice Locations\n\t<\/h2>\n\t