Union Bankruptcy Lawyer

If you are struggling with managing your debt, you may be considering filing for bankruptcy. Filing for bankruptcy in Union can help you regain control of your finances, help to stop creditors from contacting you about your debt, and let you work toward a better financial future. However, the process can be complex, so there are specific rules and deadlines you will need to know about.

At Farmer & Morris Law, PLLC, we can help you navigate the process of filing for bankruptcy in South Carolina. A Union bankruptcy lawyer from our firm will work with you to ensure you are following the required procedure and that you understand what is happening with your case every step of the way.

The Advantages of Filing for Bankruptcy

If you’re just considering filing for bankruptcy and hesitating, that’s understandable. It’s a big decision. Our bankruptcy lawyers serving Union, SC, can help you make this decision and consider all of the advantages and factors.

Generally, if a person has debt they can’t pay off sufficiently, they may want to consider filing for bankruptcy. This debt may be due to job loss, a medical complication, an economic recession, or another issue that stresses finances. Bankruptcy can let the person restructure or even relinquish their debt and get a fresh start financially.

Bankruptcy could be considered an opportunity and a second chance. You may have to sacrifice some things, such as some of your assets, but you could make your finances much more manageable and make your financial future brighter.

For a free legal consultation with a bankruptcy lawyer serving Union, call 828.286.3866

How We May Be Able to Help With Your Bankruptcy Filing

Our bankruptcy attorneys help Union residents carefully prepare their cases and follow the federal law requirements and South Carolina’s local court rules. If you would like help with your bankruptcy filing, our lawyers can assist by:

• Listening to the details of your case and providing advice
• Explaining the different types of bankruptcy available, such as Chapter 7 and Chapter 13
• Helping you determine the right Chapter to file for based on your specific needs
• Discussing the different types of debt to determine if your debt is dischargeable
• Providing insight into the types of property that may be exempt in your case, such as your home or your vehicle
• Ensuring you complete all paperwork accurately to prevent delays
• Working with you to meet the specific filing deadlines the S. Bankruptcy Court District of South Carolina has
• Determining filing-related tax considerations
• Serving as your advocate through the bankruptcy filing process

We represent individuals and small businesses in Union for Chapter 7 and Chapter 13 bankruptcy filings. Additionally, we handle Chapter 11 reorganization bankruptcy and Chapter 12 bankruptcy for family farmers. Our bankruptcy lawyers can help regardless of your specific needs.

Chapter 11 Bankruptcy

With this kind of bankruptcy, a business owner can reorganize their debts and create a manageable debt payment plan. The owner will be able to keep running their business while they pay off their creditors.

If you’re a business owner, we can discuss this option with you and help you file for this kind of bankruptcy.

Chapter 12 Bankruptcy

With this particular kind of bankruptcy, a family farmer or family fisherman can pay off their creditors with a manageable payment plan. This plan can be for a duration of three to five years, according to the American Farm Bureau Federation.

We can help you file for this kind of bankruptcy if you qualify.

Union Bankruptcy Lawyer Near Me 828.286.3866

Understanding the Process of Filing for Bankruptcy in South Carolina

The process of filing for bankruptcy can be complex. Because of the long-term financial outcomes possible, it is essential to take the time to understand the legal issues involved. In addition, there are procedural requirements and specific forms to consider. Judges of the United States Bankruptcy Court for the District of South Carolina can decide any matter related to your bankruptcy, including whether to discharge specific debts.

Although most of the bankruptcy process happens outside of court, handled by a trustee, you will still need to attend at least one formal meeting with your creditors. A bankruptcy attorney from our legal team can work with you at each stage and represent your interests during your case.

Determining Which Type of Bankruptcy Is Right for You

Generally, individuals and small businesses in Union will file for Chapter 7 bankruptcy or Chapter 13 bankruptcy, depending on their specific income, assets, and debts. Understanding the differences between each type of bankruptcy can help you better determine which Chapter may be right for you.

Chapter 7 Bankruptcy for Debt Liquidation

With Chapter 7, a court-appointed trustee assumes control over your nonexempt assets and sells them to pay your creditors. However, most people filing Chapter 7 bankruptcy in Union do not have any nonexempt assets, meaning you may be able to discharge all your debts and retain all your assets.

To be eligible to file for Chapter 7, you will need to pass a means test to prove your income does not exceed a certain threshold. You will also need to prove you cannot pay your creditors. Once you complete your bankruptcy case, your debts are usually discharged within a few months, and you are no longer personally liable for those debts. Our bankruptcy lawyers can help you determine whether Chapter 7 bankruptcy is suitable for your specific situation.

Chapter 13 Reorganizes Your Debt

With Chapter 13, you must adhere to a court-approved repayment plan for three to five years. Your payment plan allows you to catch up on missed payments and non-dischargeable debts. However, you will need to complete all payments before your debt is discharged. You may want to file for Chapter 13 if you have specific assets you want to keep or if your income exceeds the Chapter 13 filing limits.

You will make your payments to your creditors through your court-appointed trustee. Your payment amounts are determined by expected income during the payment plan. We can explain the benefits and drawbacks of Chapter 13 and Chapter 7 based on your current situation and needs.

Complete a Free Case Evaluation form now

Debts You May Be Able to Discharge in Your Bankruptcy

Generally, you may be able to discharge the following debts:

• Credit card debt
• Medical bills
• Personal loans
• Utility bills
• Some tax debts

However, there may be some non-dischargeable debts depending on your case’s circumstances. Additionally, there may be types of debt you can discharge under Chapter 13 that you may not be able to discharge under Chapter 7. However, under Chapter 13, your debts are not discharged until you complete your payment plan.

Some Assets May Be Exempt in a South Carolina Bankruptcy

Some property is exempt from sale in a Chapter 7 bankruptcy or included in a Chapter 13 bankruptcy plan. According to S.C. Code Ann. § 15-41-30, some of the common bankruptcy exemptions as of July 2022 include:

• Up to $50,000 in home equity under the homestead exemption
• $5,000 in cash if not using the homestead exemption
• Up to $5,000 of equity for your vehicle
• Tax-exempt retirement accounts
• Up to $1,500 for tools you need to work

Your court-appointed trustee will review all your exemptions, so it is essential to abide by the rules for property exemptions. Our bankruptcy lawyers serving Union will ensure you receive all available exemptions that South Carolina law allows in your case.

About Our Union Bankruptcy Lawyers

At our law firm, we believe in excellence in legal representation and client satisfaction. To date, we’ve served over 10,000 clients.

Many of our clients want to file for bankruptcy and reset their finances. We understand the situation you’re in, and we’d like to help. One of our Union bankruptcy attorneys can help you decide whether bankruptcy would be your best financial option, and if so, decide which Chapter to file for. Afterward, your lawyer can help to negotiate your debt, plan your future, and start anew.

Declaring bankruptcy may be daunting, but it might also be the best financial decision you could make. Also, with help from one of our bankruptcy lawyers in Union, SC, you may find it easier to handle bankruptcy and focus on your future.

What Our Clients Say About Us

Many of our clients have expressed their satisfaction with their testimonials. Bankruptcy clients have said the following about us and our service:

• “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

Contact Farmer & Morris Law, PLLC, Today for Help With Your Bankruptcy

If you want help determining your bankruptcy options, the legal team at Farmer & Morris Law, PLLC, is here to help. We can answer your questions, explain the process, and provide legal representation at every stage. Contact us today to learn more about your options for filing for bankruptcy in Union. We’ll provide a free consultation and case review.

Call or text 828.286.3866 or complete a Free Case Evaluation form