RECENT CHANGES HAVE BEEN MADE FOR FILING BANKRUPTCIES. STAY TUNED FOR UPDATES!
At Browner Law, PLLC, we handle Debtor Defense and Bankruptcy cases here in Chapel Hill, Durham and throughout North Carolina. When a volatile economy fosters credit problems for individuals, as well as organizations at various levels, one unfortunate by-product of this is that creditors or aggressive third-party debt collectors can add to the stress the individual already feels when debts become overwhelming.
Browner Law, PLLC, represents people who need assistance in disputing debts they believe they do not owe, and negotiating repayment terms, including arranging to settle debts for less than the amount owed. We can also evaluate an individual situation to determine whether bankruptcy may be the best option.
A bankruptcy filing under Chapter 7 is sometimes called a “straight bankruptcy.” What this means is that a debtor who files a Chapter 7 bankruptcy need not continue to make payment on unsecured debts. Some examples of unsecured debts include car repairs, credit cards, and medical bills.
Even in the 1990s, many middle-income individuals and families were only two paychecks and one major illness away from homelessness. Many more suffer from financial stresses brought on by under-employment, caring for elderly family members, or other situations that can make the difference between living in comfort and struggling to survive.
If you are regularly unable to pay credit card and similar bills—or, if you have been making only minimum payments for an extended period of time—a Chapter 7 bankruptcy may enable you to reorganize your finances and eliminate your unsecured debt.
Chapter 13 offers a debtor who files for bankruptcy protection the opportunity to make lower payments to creditors and, in some cases, to pay a reduced amount overall for debts that cannot be discharged under Chapter 7. Examples of this type of debt include automobile and mortgage payments (both secured debts), income taxes, and child support payments already in arrears.
This type of bankruptcy filing establishes a repayment plan, administered through a Trustee (who is employed by the United States Bankruptcy Administrator), with payment terms more favorable to the debtor than to the creditor.
At Browner Law, PLLC, a competent attorney can discuss in more detail:
- the different types of bankruptcy filings
- answer your questions about this process
- assist you in evaluating which type is more beneficial for you
- and ease the filing process.
Browner Law is a debt relief agency, helping people file for bankruptcy relief under Title 11 of the U.S. Code, also generally known as the Bankruptcy Code.