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Our team understands the impact that debt can have on your personal and professional lives. When you work with our South Carolina bankruptcy lawyer team from our Spartanburg office, they can examine your options and advise you on a plan of action for moving forward.
Bankruptcy allows you to file for relief from creditors, which can suspend their right to pursue collection actions. We know this is a difficult time for you in many ways, and we work hard to make the legal process as stress-free as possible.
What a Bankruptcy Lawyer from Our Firm Can Do
Trying to navigate bankruptcy proceedings on your own can be frustrating and time-consuming. Instead, let us guide you through the entire process. A bankruptcy lawyer from Farmer & Morris Law, PLLC, can:
- Advise you on which Chapter to file under: There are several types of bankruptcy, and each one is designed for people in different circumstances.
- Directly communicate with your creditors: Do not worry about speaking to your creditors directly. A lawyer from our office can serve as a middleman and relay all messages between you and those seeking compensation from you.
- Gather all necessary paperwork: Our team can tell you what types of documents you are likely to need and even request certain documents for you.
- File your petition: To keep the legal process going as smoothly as possible, we can file all necessary forms on time and with the correct information.
- Represent you at bankruptcy hearings: We can be an aggressive advocate for your rights.
- Enforce your rights: If a creditor violates your stay or discharge, we can take swift action to protect your rights.
There is a lot to know about filing for bankruptcy. For example, bankruptcy only includes debt that existed upon your filing, meaning you are required to pay debts you incur during and after your case. Our team can make sure you are an involved, informed party in the proceedings by:
- Going over the bankruptcy process: We know that bankruptcy can be complicated. Our team will sit down with you to go over everything and answer every question you may have.
- Providing professional advice: When it comes time to make legal decisions, we can explain the pros and cons of each option so that you can do what is best for yourself and your family.
- Updating you regularly: Whenever there is a new development, we contact the client as soon as possible so that they have the maximum amount of time to decide how to react.
One of our bankruptcy clients, David, expressed appreciation for the “respect” and “remarkable patience” we showed during a difficult time in his life. Now we want to provide that same compassionate service to you. Other clients have also praised the way we handled their bankruptcy cases:
- “We were sinking in debt, and Caleb Farmer walked us through the process of Chapter 13 bankruptcy. With their assistance, we are now getting to the end of the process, and their valued assistance has made it possible to pay off our debts and rebuild our credit. We will be forever thankful to their talented staff. We highly recommend them to anyone considering bankruptcy.” – Chapter 13 bankruptcy client
- “Realizing that the only way to pick myself up after the Great Recession was going to require filing a personal bankruptcy, the Farmer brothers showed me the respect of being honest with me about what was coming. 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. Thanks to the entire firm.” – David, bankruptcy client
- “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, bankruptcy client
- “We were filled with questions and concerns, and Caleb did a great job answering the questions and quieting the concerns. He was reachable if we ran into a problem or tough situation. He and his staff were very timely with responses. We were scared to death, and they made this a tolerable situation. We would recommend him.” – Bankruptcy client
If you’re considering filing for bankruptcy, our firm can provide support, practical guidance, and legal services. This will leave you free to get other matters in order and focus on your future goals.
Bankruptcy Chapters You Can File Under
Our legal team wants to do what we can to help put your finances back on track. We help individuals and small businesses file cases under Chapter 7 and Chapter 13. Additionally, we can help you file under Chapter 11 reorganization bankruptcy, as well as under Chapter 12 if you are a family farmer.
Chapter 7 Bankruptcy
Chapter 7 is sometimes known as the “liquidation chapter.” It is the only one of the four types of bankruptcy discussed here that does not require the creation of a repayment plan—you will no longer be responsible for repaying your debts included in the bankruptcy.
Per the Internal Revenue Service (IRS), an entity may qualify to file Chapter 7 if they are:
- An individual who cannot keep up with monthly debt payments
- A business that is preparing to end operations
- In possession of any amount of debt
In order to settle your financial obligations, your non-exempt property will be liquidated by the trustee handling your case. The proceeds will then be distributed amongst your creditors. However, in many Chapter 7 cases, people may keep their exempt property, such as their home, and use the non-exempt property to pay off debts.
Chapter 13 Bankruptcy
Unlike Chapter 7 cases, Chapter 13 filings are structured to allow you to reorganize your finances and repay creditors, with some portion of your debt being forgiven.
To proceed with a Chapter 13 case, you must:
- Develop a repayment plan with your creditors that outlines how and when you will pay your debts
- Be capable of meeting your payment plan obligations
- Show that you are willing to sell or surrender some assets to settle accounts with creditors, if necessary
Chapter 13 bankruptcy may be an ideal option if you experienced sudden debt because of a temporary financial issue. This can give you the time you need to restructure your debt in a way that makes repayment possible.
Chapter 11 Bankruptcy
To proceed with Chapter 11, according to the IRS, you can show that:
- You are “an incorporated business” or an individual with too much debt to qualify for Chapter 13 bankruptcy
- You are able to come up with a feasible plan to repay your debts in a reasonable period of time
- You have made a reasonable effort to reorganize your finances
If you are filing under Chapter 11, your lawyer will sit down with you and organize a plan of action for repaying your creditors. However, before you can proceed, you will need to present your financial strategy to your creditors, who will then review whether your plan is satisfactory.
We may have to go back and forth with your creditors multiple times until they approve your plan. This is another reason why people seek legal help with a bankruptcy case: Trying to handle such negotiations alone can be strenuous and require intimate knowledge of applicable laws.
Chapter 12 Bankruptcy
According to the United States Courts, Chapter 12 is reserved for fishermen and family farmers. It allows them to design a plan for repaying their creditors within three years. This plan also must be approved by all creditors before it is set in motion.
If this is relevant to your situation, a bankruptcy lawyer from our Spartanburg office can review your situation and help you develop an achievable repayment plan. We can also work with a Chapter 12 trustee, whose job is to monitor the progress of your farm’s revenue while the case moves through the legal process.
Why Our Clients Rely on Us When Filing for Bankruptcy
Those who are facing bankruptcy often feel like they’re on the brink. The financial stresses that lead to bankruptcy can be all-consuming, and the bankruptcy process is often more than our clients can handle. In their time of need, those clients turn to us for help.
Bankruptcy clients hire Farmer & Morris Law, PLLC, because:
- Bankruptcy is one of our primary practice areas
- We’ve delivered positive results for former clients going through bankruptcies
- We assign attorneys based on their forte and the Chapter of bankruptcy you’re considering
- We have legal training and experience that bankruptcy clients seek
Our firm will handle much of the bankruptcy process for you. We know that your life does not stop while you’re dealing with bankruptcy. Because we will take the lead on your legal proceedings, you can work on a plan for life after the process is complete.
We will work to keep creditors informed of your bankruptcy proceedings. As we work to get relief for you, those creditors may contact us instead of you with any questions they may have. This will allow you much-needed peace of mind.
Our firm is ready to advise you on all of your bankruptcy-related questions and concerns. Don’t wait to start working on your case. The sooner you start the process, the sooner we can help get you back on track financially.
We Provide Client-Focused Legal Care
When you trust your case to our bankruptcy lawyers, you will get the personalized legal care you deserve. We never apply a one-size-fits-all approach to our client’s cases. Instead, we tailor our legal strategy to suit each of their individual needs.
When you work with us, we will also make it a priority to keep you informed and updated about your case. You can contact us with any questions that you may have during the process, as well.
Call for a Bankruptcy Consultation
If you can no longer manage your bills or pay your debts, bankruptcy may be a logical option to pursue. A lawyer from Farmer & Morris Law, PLLC, can review your finances, advocate for your rights, and file under the Chapter that applies to your situation.
To learn more about how we can help you, contact Farmer & Morris Law, PLLC today for a consultation.
