Bankruptcy Lawyer Near Chatham County
Are you struggling with significant debt, having trouble making payments, or facing foreclosure of your home or repossession of your vehicle? If you answered yes to any of these questions, the Chatham County bankruptcy lawyers at the Sasser Law Firm want to help you obtain relief and get a fresh start.
Our legal team has extensive experience with various debt cases. We handle Chapter 7, 11, and 13 bankruptcies and can help clients in emergencies such as foreclosure or repossession. Our firm has the skill and resources to take on challenging cases, and we will seek to represent your interest to the extent possible. Contact our bankruptcy lawyers today to learn more about your bankruptcy options.
Learn How Bankruptcy Can Help You Get Out of Debt Today
Bankruptcy is one strategy a business or individual can use to resolve unmanageable debt. The benefits of filing for bankruptcy include the following:
- Automatic stay – Filing for bankruptcy triggers an automatic stay, which is a part of bankruptcy law that prevents creditors from contacting you or taking any action to collect a debt. If you are facing foreclosure of your home or repossession of your vehicle, filing a bankruptcy petition temporarily pauses the foreclosure or repossession. It can also put an end to harassing calls from debt collectors.
- Debt elimination – Filing Chapter 7 bankruptcy can wipe out credit card debt, medical debt, and other types of unsecured debt other than exceptions for student loans, marital debt, and certain tax liabilities.
- Restructuring of debt – If you don’t qualify for Chapter 7 bankruptcy in North Carolina, you may be able to file for Chapter 13 bankruptcy. Chapter 13 bankruptcy may allow you to get current on your debts, including mortgage or car payments. With Chapter 13 bankruptcy, you submit a plan to pay off your debt over three to five years. A Chapter 13 bankruptcy plan may also allow you to consolidate and restructure debts, including obtaining a “cramdown” of a car loan if the balance of your loans exceeds the value of your vehicle. Debt balances remaining at the end of the plan period can sometimes be discharged if you comply with the terms of your plan.
- Avoidance of judgment execution – If a creditor gets a judgment against you, they can seek to execute that judgment by seizing non-exempt assets.
- Opportunity to rebuild your credit – Although bankruptcy may in some cases initially hurt your credit score, it gives you a clean slate. This can allow you to rebuild your credit rather than further damaging your score due to missed payments or debts sent to collections.
Bankruptcy Relief for Tax Debt in Chatham County
If you are concerned about tax foreclosure, you may be relieved to learn that you may be able to resolve some tax debt through bankruptcy.
Some income tax debt can be discharged in Chapter 7 or Chapter 13 bankruptcy if you meet specific requirements, such as:
- Your tax returns must have been due for at least three years before filing your bankruptcy petition.
- Your tax returns must have been filed at least two years before filing your bankruptcy petition.
- Your tax debt must have been assessed against you at least 240 days before filing your bankruptcy petition.
- Your tax returns must be truthful and accurate.
- You should not have intentionally attempted to evade or avoid tax when you failed to pay
- Tax liens are not avoidable in Chapter 7
Any qualifying income tax debt plus penalties can be discharged in Chapter 7 bankruptcy or at the end of your Chapter 13 repayment plan if you have made payments on your tax debt required by the plan.
Bankruptcy Cases Our Law Firm Handles in Chatham County
At the Sasser Law Firm, we have handled over 10,000 case filings for individuals and businesses facing financial difficulties. Our focus is to provide North Carolina debt relief to consumers. Our attorneys have experience in various bankruptcy and debt relief cases involving the following:
How Can a Local Bankruptcy Lawyer Help?
Filing for bankruptcy can feel daunting, but you don’t have to go through this difficult time alone. A Chapter 7 and Chapter 13 bankruptcy lawyer from the Sasser Law Firm can provide you with compassionate, effective legal representation if you are facing financial difficulties or overwhelming debt by:
- Discussing your options for resolving your debt, including bankruptcy, loan modification, debt consolidation, or debt reduction
- Negotiating with your creditors to try to resolve your debt
- Determining which types of bankruptcy you qualify for by gathering your financial information
- Preparing and filing your bankruptcy petition with the court so you can avoid errors that could lead to the dismissal of your bankruptcy case
- Preparing your repayment plan to provide for manageable debt payments if you file for Chapter 13 bankruptcy
- Representing you in bankruptcy court as well as during creditors’ meetings
- Communicating with the bankruptcy trustee and your creditors on your behalf
- Pursuing legal action if creditors violate the automatic stay and/or discharge injunction
- Explaining what to expect throughout the bankruptcy process and your obligations
- Pursuing legal action if creditors attempt to collect debts that the court discharged
At the Sasser Law Firm, we have over 20 years practicing entirely in bankruptcy law. When you hire us, you work directly with your attorney. We try to prioritize what’s best for you and work to achieve your desired outcome.
Speak with an Experienced Bankruptcy Attorney Serving Chatham County, NC
If you are considering filing for bankruptcy or are facing financial difficulties, a lawyer with the Sasser Law Firm can answer your questions and explain your legal options. We have filed over 10,000.00 cases for individuals and businesses in our 20 years of practicing bankruptcy law. Call us at (919) 319-7400 to speak with our experienced bankruptcy attorneys serving Chatham County.