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800-209-1477

800-209-1477

800-209-1477

If you’re in debt then you most likely already know that debt collector’s often engage in threatening, abusive, and harassing behaviors that they’re not legally allowed to do. The Fair Debt Collection act has made this illegal, but even so many times collection letters are sent to those in debt that violate the law. A Raleigh Bankruptcy lawyer can help you determine if they’re operating within the confines of the law and even help you if you’re lost in debt try to recover and file for bankruptcy.

IN some cases Bankruptcy can be the only way to overcome the burden of debt. A liquidation discharge, commonly known as a Chapter 7 bankruptcy or a Chapter 13, which is a repayment plan are both possible as per the Bankruptcy code. There are specific, strict qualifications for each of these so it is important to contact a Bankruptcy lawyer in order to find out what you need to do to get on the path of erasing your debt. Bankruptcy can be a great way to stop any potential lawsuits, foreclosures, garnishments, or repossessions; and can be a great way to make a fresh start.

When is Chapter 7 a good option?

If you’re considering filing for a Chapter 7 bankruptcy, which is a liquation, then there are some things you should know. Chapter 7 is great for those that do not have much in the way of assets and have very little property that is non-exempt. The most common reasons for filing this type of bankruptcy is medical expenses, marital problems, and unemployment. Non exempt properties do not include one’s house or automobile, so you would not have to surrender either in this case.

Many lawyers can provide you with a free consultation in order to assess your situation, whereas others charge a set fee. It is important to contact a Raleigh Bankruptcy lawyer as soon as possible to see what your options are. Many lawyers have payment plans as they know that those in the greatest need for legal bankruptcy counsel are those individuals that are buried in debt and may not be able to easily afford large legal expenses.

When is Chapter 13 the way to go?

If you’re trying to file a Chapter 13 bankruptcy then your aim is to at some point pay back all of your debts. Chapter 13 involves restructuring in order to use what income the debtor has to pay off their debts. A Chapter 13 gives a debtor 5 years in which their creditors must be paid back. Attorneys are especially useful in this process because they can help safeguard and look out for the interests of the debtor. Chapter 13 is ideal in some scenarios because it can lower or eliminate the amount of interest that one must pay on their debts. Bankruptcy should be a last resort, but in some cases it is the only option. If you want to know more about hiring a Raleigh bankruptcy lawyer then contact the experts at BankruptcyLawyer.com.