Chapter 7 Bankruptcy Attorney in Raleigh
Work with Your Personal Bankruptcy Lawyer
Chapter 7 of the U.S. Bankruptcy Code outlines the specific procedure associated
with this form of bankruptcy, available for use by individuals who are
facing overwhelming debt and need relief. Also referred to as “liquidation”
or “straight bankruptcy”, Chapter 7 involves the liquidation
of the debtor’s non-exempt assets to pay off part or all of his
or her debts. Once these assets are surrendered to the bankruptcy court
and the proceeds are distributed among creditors, the debtor’s debts
will be discharged.
The benefit of filing under Chapter 7 is that all creditor contact and
collection efforts must stop immediately. You will no longer face threatening
phone calls, letters or even personal visits. Creditor abuse will stop.
You can finally live in peace and stop worrying about debt!
Qualifying for Chapter 7 Bankruptcy
An important factor associated with a Chapter 7 bankruptcy is whether you
will qualify in the first place. Under the Bankruptcy Act, your income
and expenses will be carefully reviewed in order to determine whether
you can file under Chapter 7 or if you must file under Chapter 13. The
court will look at your average income for the last 6 months and compare
this to the median level for North Carolina in particular. If your income
is below the median, you may be able to file under Chapter 7. If your
income exceeds the median, it is likely that you will have to file under
Chapter 7 Bankruptcy Attorney in Raleigh, NC
If you are interested in filing for bankruptcy or are facing overwhelming
debt, consult a
Raleigh bankruptcy attorney at Hopper Law Office. We are very experienced in dealing with Chapter
7 proceedings throughout North Carolina. We will explain your rights and
options and can help determine whether Chapter 7 may be an option for
you. By working with us, you will have the best opportunity of having
the process go smoothly with the least amount of disruption and the highest
benefit to you, now and in the future.