Bankruptcy Lawyers in Granville County, NC
Are your debts overwhelming you?
We can help!
You do not have to let financial problems like unpaid bills or being behind in your mortgage or car payments become an overwhelming burden. When it seems like you’ll never get out from under debt, it’s time to take advantage of bankruptcy laws that were written to give you a chance to start over.
The Granville County board-certified bankruptcy attorneys of the Sasser Law Firm can guide you through the process of making a fresh start by reorganizing your debt and/or having what you owe forgiven in a personal or business bankruptcy filing. Declaring bankruptcy is a technical legal maneuver meant to relieve you of debt and give you a second chance to establish credit and a sound financial footing.
Our firm has helped more than 12,000 individuals and businesses in central North Carolina protect themselves from creditors and turn their financial lives around. We can do it for you, too.
Others who know what it’s like to be in your shoes in Creedmoor, Butner, Oxford, Stem, and elsewhere in Granville County have helped themselves through legal advice the bankruptcy attorneys of the Sasser Law Firm can provide to you. Contact us now to discuss services that include:
- Personal attention from an experienced bankruptcy lawyer. All of our attorneys are board-certified specialists who have passed a complex exam, undergone a thorough peer review, and continue to earn formal education credits in bankruptcy law. We can handle all paperwork and presentations required to obtain a court-approved bankruptcy reorganization plan. Our aim is to take on all of the workloads we can, though you may be required to request and/or sign certain personal financial documents.
- Free analysis of your case. We’ll make sure we fully understand your situation so we can recommend and pursue the proper resolution for you. We’ll review your income, assets, expenses, and debt and lay out all your options in a free initial consultation. After one meeting, you’ll understand a viable path to your financial recovery.
- Straightforward advice. Our recommendation will be what your personal bankruptcy attorney thinks is most advantageous for you after talking to you and reviewing your finances. A bankruptcy declaration may be proper, but there are alternatives. We want you to understand and be comfortable however we suggest you proceed.
- Immediate protection. When creditors are poised to foreclose and/or seize assets, we can start the filing process immediately after an initial consultation. Once bankruptcy is underway, you will have breathing room and we can help you get your financial affairs in order.
- Affordable legal assistance. As part of your free initial consultation, we will discuss affordable payment plans for additional services. For a Chapter 7 filing, which most personal bankruptcies are, we charge fees based on your income. We charge a competitive, flat-fee for Chapter 11 bankruptcy, which is the most common business reorganization. In a Chapter 13 personal reorganization bankruptcy, legal fees are rolled into the repayment plan authorized by the court, which means there’s no cost upfront.
In addition to the experience and dedication of our three bankruptcy attorneys, the Sasser Law Firm has the resources required to help clients with complex bankruptcy filings. Our objective is the best resolution available to you through federal bankruptcy law, and we will pursue it through all available appeals, if that’s what’s necessary.
Bankruptcy Options for Granville County Residents & Businesses
Your Sasser Law Firm bankruptcy attorney will examine your financial situation and recommend the steps to take to return you to financial stability. Though each financial situation is unique, if bankruptcy is appropriate for you, it will likely be structured according to one of the following chapters of bankruptcy law.
Chapter 7 Personal or Business Liquidation
In a liquidation, you sell property and assets to pay creditors with the proceeds. If a business enters Chapter 7 bankruptcy, it closes after a bankruptcy trustee liquidates assets, such as in an auction, and pays creditors. Individuals in Chapter 7 may keep certain assets considered exempt under North Carolina law, such as their home, car, clothing, or major appliances if they meet income requirements.
- Faster and less expensive than other filings.
- Immediate protection from creditors.
- Allows “discharge” — cancellation — of general unsecured debts, such as credit card balances, personal loans, medical bills, business debt, and some unpaid taxes.
- Allows you to re-establish credit sooner.
Chapter 11 Business Reorganization
Chapter 11 bankruptcy allows a business to stay open as the owner pays debts over time according to a plan agreed to by creditors and the Bankruptcy Court.
Benefits of Chapter 11:
- Immediate protection from foreclosure, eviction, levies, and/or lawsuits.
- Control of assets sale (instead of a trustee selling assets).
- Results in a financial recovery plan, which may include restructuring debt through adjusted interest rates, payment extensions, and/or balance reductions.
- Allows five years or longer to pay delinquent taxes.
Chapter 13 Personal Reorganization
Chapter 13 bankruptcy allows individuals with the required income to restructure personal debt and may be applied to debt incurred through self-employment or operating a small business. It requires developing and gaining approval for a three- to five-year plan to pay outstanding debts. A Chapter 13 bankruptcy does not erase debts such as student loans, overdue taxes, and alimony payments.
- Protection from creditors for the life of the repayment plan.
- Ability to restructure debt with lower payments and reduced interest.
- Consolidation of all debt (including legal fees) into a single monthly or bi-monthly payment.
Information to Bring to an Initial Consultation
To review and understand your financial situation, we will need certain information from you. At the close of an initial consultation, we expect to be in a position to make a recommendation to you for dealing with your debts. We should also be ready to begin the paperwork needed to file for bankruptcy, if that is appropriate, and would explain what you can expect at each step if you choose to proceed.
For an assessment of your financial standing, we’ll ask for your:
- Creditors’ names and what you owe each
- Routine monthly expenses (utilities, groceries, gas/transportation, etc.)
- Income information (a paycheck stub)
- Assets (personal and real property, and financial accounts).
If this information is available to you now, take the next step toward financial relief. Contact Sasser Law Firm to schedule a free initial consultation today.
Potential Need to Litigate a Granville County Bankruptcy Filing
Most bankruptcy cases proceed smoothly under guidelines laid down by the U.S. Bankruptcy Court and, therefore, hearings and trials are scheduled and held faster than other types of legal proceedings. However, if disputes arise, your Sasser Law Firm attorney must be prepared to “litigate,” or argue your case before a judge to obtain approval of a plan that best meets your needs.
Bankruptcy litigation can become a fight when multiple parties have their own interests to protect. If your case will involve business partners, family members or others who share debt or assets with you, we will need you to advise us so we know how to identify and gather the financial information your case requires and be ready to act upon it quickly.
Litigation in a bankruptcy proceeding typically involves allegations and/or objections regarding:
- Creditors’ rights
- Assets’ value
- Assets to be sold
- Interest rates
- Taxes
- Fraud
- Breach of fiduciary duty
- Reorganization plans developed outside of court
- Pre-bankruptcy separation agreements
Hearing Bankruptcies from Granville County
If you file for bankruptcy protection for a business located in or as a resident of Granville County, it will be heard by the Raleigh Division of the U.S. Bankruptcy Court for the Eastern District of North Carolina.
The Raleigh Division is located at:
Century Station Federal Building
300 Fayetteville Street
4th Floor
Contact Our Experienced Granville County Bankruptcy Attorneys
If you worry about bills that have turned into real financial problems, it’s time to act instead of risking the loss of everything you have worked for. The Granville County bankruptcy lawyers of the Sasser Law Firm can identify and guide you through a solution that protects you now and helps you establish a solid financial footing for the future.
We have extensive experience filing and litigating Chapter 7, 11, and 13 bankruptcies, as well as with other aspects of the U.S. Bankruptcy Code, such as Chapter 12 reorganization for family farmers or family fishermen. No matter what financial issues you face, the first step toward relief is to schedule a free consultation with one of our board-certified bankruptcy lawyers. Contact us today from Creedmoor, Butner, Oxford, Stem, or elsewhere in Granville County to take that step.