If you are overcome by debt that you cannot pay with your current income, bankruptcy protection may be just what you need to get a new lease on your financial life. With our help, you can discover the benefits and protections of bankruptcy, define your dischargeable debts, maintain many of your assets, and learn more about the detailed filing process.
It can be hard to know what to do or where to turn when personal or business debt becomes insurmountable. With guidance from our Farmer & Morris Law, PLLC, bankruptcy lawyer, who helps individuals and businesses in Cleveland County, you can give yourself a chance to start over with a new beginning and a renewed peace of mind.
Our Team Can Help You Get a Fresh Start By Filing for Bankruptcy
Are you struggling financially with debt that far exceeds your income? If so, you may qualify for the protection and relief of bankruptcy. While you can do so on your own, even guidelines from the United States Courts recommend engaging a lawyer to help with your bankruptcy case. The benefits you will experience by trusting your case to our bankruptcy team include:
- Helping you choose the right type of bankruptcy
- Clarifying your tax and credit repercussions
- Clarifying bankruptcy laws and procedures
- Obtaining, completing, and filing all required forms
- Representing you in court appearances
Because our team is committed to responsive client support, we will also make sure you receive regular updates on your case and understand what you can expect each step of the way.
Understand the Benefits of Bankruptcy Protection
According to G.S. § 75-55, creditors are not allowed to pressure you to pay a debt once you have declared bankruptcy. In addition to this stress-relieving measure, filing bankruptcy also provides you with relief from having your utilities disconnected or being evicted.
Our team will help you determine how bankruptcy can discharge debt or allow you to repay it in a manageable fashion. We can also help you maintain possession of your property, including your home and vehicle. We can also stop any garnishing of your salary.
Choose the Best Bankruptcy Option for You
Recognizing your need to file bankruptcy is only one step on your journey to a new start. You also need to decide which type of bankruptcy is right for your current financial situation. Bankruptcy clients we represent include:
- Small businesses
- Family farmers
- Family fishermen
Each of these clients will have a specific bankruptcy Chapter that fits their debt relief needs in Cleveland County. At Farmer & Morris Law, PLLC, our bankruptcy lawyer can help you assess your debt load, reprioritize your liabilities, and eliminate the debt that is preventing you from getting your financial life in order.
Chapter 7 Bankruptcy
Chapter 7 bankruptcy will help you eliminate crushing personal debt and can also alleviate overwhelming debt for individuals, small businesses, and corporations. Like the majority of people who file Chapter 7, you may be able to retain your assets and have qualifying debts discharged. Our client support team will help you create a list of your creditors and of your assets, income, and property.
To prove your eligibility for bankruptcy protection, we will also help you create a comprehensive list of your regular expenses and prove that your debt-to-income ratio is out of proportion for repayment.
Chapter 11 Bankruptcy
Individuals and businesses have the option of filing Chapter 11 bankruptcy when their goal is to reorganize their existing debt. When our debt relief team represents you, we can help you complete the appropriate petition and file it with the court along with the following schedules:
- Assets and liabilities
- Income and expenses
- Leases and contractual obligations
We will also help you submit your statement of financial affairs and other documentation that your specific circumstances require. If you opt for Chapter 11 bankruptcy, our team can help you create a plan to reorganize and gradually repay your debt.
Chapter 12 Bankruptcy
Our team can help if you need the relief of Chapter 12 bankruptcy, which is specifically designed to help family farmers and fishermen. We will help you prove you have the regular income and other requirements of Chapter 12 bankruptcy. We can also help you create the mandatory debt repayment plan that gives you between three and five years to satisfy your creditors and start rebuilding your life.
Chapter 13 Bankruptcy
If you are an individual debtor with a dependable stream of income, filing Chapter 13 bankruptcy can let you hold on to your property and repay your debts at a later date. If you have a traditional job, are self-employed, or run a small business and meet the income threshold for Chapter 13, our team will assess your financial situation, get the required credit counseling, and complete the filing process.
See How We Have Helped Clients in the Past
When our team helps clients seek bankruptcy protection, we work hard to ensure you get the legal support you need combined with the compassion and understanding you deserve. Previous bankruptcy clients say the following about our supportive services:
- “Through gathering documents, meeting with the trustee, and the final discharge by the court, Mr. Farmer showed remarkable patience…He explained things in layman’s terms without condescension. The choice to hire Josh Farmer may have been the best decision I made…Thanks to the entire firm.” – David
- “Simply put, Caleb did everything that I could possibly have expected and more. Even in the years following the bankruptcy, Caleb and Sandie went way above and beyond to help us with every aspect of the process. You will not find better people.” – John
On your own, it can be difficult to understand the intricacies of filing bankruptcy and discharging insurmountable debt. With our team by your side, you can start over with a clean financial slate and invaluable peace of mind.
You Can Start Today By Contacting One of Our Team Members
If your debt exceeds your income and you need financial relief, contact our team at Farmer & Morris Law, PLLC, to get help with your bankruptcy case. Find out how our lawyer serving clients in Cleveland County can help you get a fresh start by calling (828) 286-3866 today.