Filing for Bankruptcy
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q Each year more than 1,200,000 Americans file for protection under the federal bankruptcy laws. A few are credit abusers or are financially irresponsible, most are working families who try to pay all of their bills The sudden loss of a job, medical bills, a divorce or even a natural disaster can quickly wipe out a life’s savings. q Once you file a bankruptcy petition, an automatic stay prevents creditors from starting or continuing most efforts to collect. q Bankruptcy provides a second financial chance. Bankruptcy is usually used as a last resort, after other attempts to solve a financial crisis fail. q Bankruptcy can relieve the honest but unfortunate debtor from the pressures of excessive debt by providing a fresh start. It allows you to discharge some of your debt or allows you time to get back on your feet without harassment by creditors. q Creditors can benefit from at least partial payment of a debt in an orderly fashion. q You may think bankruptcy is a sign of failure and an indication that you can’t manage your own affairs. In truth, most people who file for bankruptcy intend to pay their bills but can’t. q
By filing for bankruptcy, you can start again
with a clean slate, free of the stress and depression that result from being
just one step ahead of the bill collector. q The
decision to file bankruptcy should be carefully considered. It is a
federal court proceeding that can affect your legal right to keep or to use
your property. In Chapter
7, your nonexempt assets may be sold to pay creditors while most of your
debts are discharged. In Chapter 13, you
prepare a reorganization plan to pay off creditors in full or in part. |
Former Iredell County
Courthouse |
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There is no charge for an office or telephone consultation about
bankruptcy relief. Gather up your bills
and call 336 724-0082 or send an e-mail to set up an appointment
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More
information
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Web pages: |
Downloads: Detailed
information about bankruptcy (.pdf format) Bankruptcy questionnaire (print out and complete before appointment for fast filing) |
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