Raleigh Bankruptcy Lawyer
Is bankruptcy right for me? Do I need a lawyer? What happens in bankruptcy? What can happen to my home, car, and other property? Can I protect my assets? How do I file for bankruptcy and under which chapter?
If you’re visiting this page, you likely have questions similar to these. To start with the most basic one, bankruptcy is a legal pathway for people to get out of overwhelming debt. It’s not an admission of defeat, but rather a way to take control of your finances when bills and debts become unmanageable. Depending on the circumstances and when you file, it can help you avoid lawsuits, repossessions, and eviction.
As for the second question, although you’re not required to have a lawyer to file for bankruptcy, it’s usually a good idea. We don’t say that simply as lawyers, but because people who go through bankruptcy with an attorney have their debts discharged at a significantly higher rate than people who file without one.
At Wake Legal & Associates, we offer free initial consultations with our Raleigh bankruptcy lawyer, Attorney Michael Hopper. He has been practicing law for well over a decade and started Wake Legal & Associates to help the good people in and around The Triangle get out of bad debt. In your initial consultation, he will talk with you about your situation and help you assess your options, as well as answer any questions you may have (including the remaining questions listed above).
Call (919) 823-9299 or message us to discuss your case with our bankruptcy attorney in Raleigh.
How to File for Bankruptcy in Raleigh
Bankruptcy is a legal process that includes paperwork, organizing your financial documents and evaluating your debts, possible meetings with creditors (341 meetings), court hearings, and potentially credit counseling or financial management courses. The process formally starts when you file a petition with your local bankruptcy court, but you can begin preparing much earlier on your own and with your lawyer.
This process is mainly governed by federal law (U.S. Bankruptcy Code); however, some states, including North Carolina, have laws that their residents should also consider. Our state’s laws mainly outline bankruptcy exemptions that protect certain assets, including motor vehicles and homes under a certain value.
Client Testimonials
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Michael has gone above and beyond what he was required to do in my complex case.
“He is not only a good hearted person, but gets things done quickly and accurately. I would recommend him to anyone.”
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Bottom line is that Wake Legal does not drop the wrench when the whistle sounds unless the job is done!
“Michael Hopper represented me through a very difficult time providing sound legal advice and structured guidance through the entire process.”
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By the time we called Michael, we were completely desperate.
“I can’t help but wonder if we had gone to another attorney, if he would have remembered our names, let alone the specific circumstances of our particular case. We were lucky to have chosen Michael. You would be lucky too.”
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I would definitely recommend Michael to others contemplating bankruptcy, he strives for client satisfaction.
“Michael Hopper and his team made my Bankruptcy experience go as smoothly as possible while remaining totally ethical.”
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If you are looking for help you should give them a call.
“I found Wake Legal by doing a Google search to help a family member with a bankruptcy and some other work and was simply amazed at Mr. Hoppers concern and follow through for their entire situation.”
Common Bankruptcy Options
At Wake Legal & Associates, we help North Carolinians with the two most common types of bankruptcy: Chapter 7 and Chapter 13.
Chapter 7
Most people consider Chapter 7 bankruptcy to be quickest and easiest bankruptcy option. It allows you to keep exempted property from creditors and “liquidate” (or sell) other assets to pay off certain debts. It takes about 4 or 6 months, after which point your remaining qualifying debts are discharged. Because assets must be under a certain value to be exempted, Chapter 7 is best for people without high-value property. Furthermore, many people with high incomes may not qualify for this type of bankruptcy.
Chapter 13
Chapter 13 bankruptcy allows you to keep your property, but you consolidate your debt and pay one payment (a significant portion of your income) every month to a trustee. The trustee then pays a percentage of that money to each of your creditors. This process takes several years. Like with Chapter 7 bankruptcy, Chapter 13 results in a discharge of qualifying debt.
Bankruptcy in North Carolina
If you live near Raleigh-Durham, Johnston County, Apex, Cary, Morrisville, or Wake Forest, Wake Legal & Associates can guide you through the bankruptcy process. It’s our goal to help you take care of your debt so you can get a fresh financial start.
Give us a call at (919) 823-9299 to schedule your free initial consultation with our Raleigh bankruptcy lawyer, or you can send us a message using our contact form.
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