Bankruptcy Attorney serving Garner, NC

Debt can make it nearly impossible to keep your head above water. You may break out into a cold sweat whenever your phone rings, thinking it could be a debt collector. You could dread opening the mailbox because you may see a letter stamped overdue or final notice. Debt doesn’t just cause financial strain. Debt causes emotional turmoil as well.

At Sasser Law Firm, we want you to know that you have options. For over 20 years, we have been helping North Carolinians in similar positions discharge their debts and rebuild their lives. Bankruptcy law is all we do, which we believe gives us experience and insight into the field. An experienced bankruptcy attorney from our firm can assess the pros and cons of a bankruptcy filing.

Contact a board-certified bankruptcy specialist attorney with Sasser Law Firm today and set up a confidential consultation about your financial recovery.

When Should I File for Bankruptcy?

Thinking about filing for bankruptcy may make you feel anxious and stressed. However, bankruptcy can be a good option for individuals trapped in a cycle of deep debt who need a fresh start.

Consider these signs that it may be time to consider bankruptcy:

• You are past due on your mortgage and can’t keep up with your payments.
• You have bills in collections that you have no way of paying
• A significant life event like a death, divorce, medical issue, or job loss has caused significant financial hardship.
• You are borrowing to pay off bills.
• You depend heavily on credit cards.
• You can’t make minimum payments on your credit cards.

Are you thinking about filing for bankruptcy? Get in touch with an experienced bankruptcy lawyer to discuss the bankruptcy option.

Types of bankruptcy our Bankruptcy attorneys can help you with

Bankruptcy is a process that can help you regain financial control over your debts. There are several different forms of bankruptcy. Chapter 11 is for corporate reorganization and the reorganization of high-debt individuals. Chapter 12 is for family farmer and fisherman reorganization. Most individuals decide between two forms of personal bankruptcy:

• Chapter 7 bankruptcy – Chapter 7 allows many individuals to discharge certain debts. Debts that are often not discharged are recent taxes, domestic obligations, and student loans. A court-appointed trustee may sell the nonexempt property (if in fact, you have any) to pay off some debts. In most Chapter 7 cases the debtor can exempt all of their assets and there is no liquidation of assets. Chapter 7 bankruptcy will remain on your credit report for up to 10 years.
• Chapter 13 bankruptcy –  Filing for Chapter 13 bankruptcy means you must pay creditors some or all of what you owe using a three-to-five-year structured repayment plan. You will be able to keep your assets if you want to. A Chapter 13 bankruptcy may also drop off your credit report sooner than a Chapter 7. Another benefit to filing Chapter 13 with Sasser Law Firm is that it costs $0 down. We get paid as part of your payments to the trustee.

At Sasser Law Firm, our experienced team of bankruptcy attorneys can help you evaluate what chapter(s) of bankruptcy might be able to help you or whether or not it might not be helpful at all. Or even worse, harmful.

How to file for bankruptcy

You must first determine which type of bankruptcy best fits your financial situation. An attorney can outline your options and discuss the pros and cons of each type of bankruptcy. They can also make sure you meet the initial requirements to file for bankruptcy, as not everyone will qualify.

Once you decide which option is best for your situation, your attorney can begin preparing your bankruptcy paperwork. This paperwork can be nuanced and requires many details about your financial situation. In most cases, you will need to provide tax returns, proof of income, bank statements, asset valuations, and billing statements. Your attorney can generally evaluate if any assets are exposed to being liquidated in Chapter 7.

After filing for bankruptcy, you will need to participate in a 341 meeting of creditors.  Individuals must complete a 2-hour internet-based debtor education course before a discharge order is entered.

Talk to our Bankruptcy attorneys today

It can be hard to realize or acknowledge that you need legal protection relative to your debts. Bankruptcy is not a process anyone enters lightly. It also may not be a process you should tackle alone depending on your situation and your acumen. The compassionate legal team at Sasser Law Firm may be able to help you through these challenging times. Our board-certified bankruptcy specialists will attempt to offer you honest and straightforward advice about your situation. We are bankruptcy attorneys near Garner, with our offices in Cary, NC at the corner of Regency Parkway and Tryon. Give us a call at (919) 319-7400 or fill out our contact form. Perhaps we can help.