Chapter 7

Raleigh Chapter 7 Bankruptcy Lawyer 

Chapter 7 is one of the most common ways people file for bankruptcy. As a liquidation form of bankruptcy, it requires you to surrender some of your property, which is then sold to pay any qualifying debts. 

Bankruptcy is a complicated legal process. Many people who try to navigate it on their own (pro se) end up being denied discharge or losing more of their assets than they would have with skilled legal counsel. Attorneys familiar with the intricacies of bankruptcy law can help you correctly process your case and prepare for any obstacles you may face. 

At Wake Legal & Associates, our Chapter 7 bankruptcy attorney in Raleigh can help you evaluate your financial circumstances, weigh your options, and equip you to make an educated decision on whether this type of bankruptcy is right for you. If you do proceed with Chapter 7, we can help you gather the appropriate financial documents, protect your assets, and navigate each step of the legal process. 

To schedule a free initial consultation with Wake Legal & Associates, call (919) 823-9299 or send us your availability using our contact form.

Chapter 7 Bankruptcy in North Carolina 

Chapter 7 is a good option for people who have few valuable assets and relatively low incomes. One reason for this is that you must usually make below the state’s median income to qualify. In North Carolina, the median household income is $56,642, according to the most recent census data. If your household brings in less than this amount, you are likely eligible to file for Chapter 7. 

If you make over the median income, you’ll have to complete an assessment known as the “means test” to determine eligibility. Ultimately, the deciding factor in a means test is the amount of income that you have after paying certain monthly expenses (debt payments, childcare, child support, and bills). 

Bankruptcy Exemptions in North Carolina

North Carolina also has specific bankruptcy exemptions—rules that shield assets from creditors. For example, we have a homestead exemption, which protects up to $35,000 of your home’s equity. This number may increase to $60,000 if you’re unmarried and over the age of 65. 

Other exempted items may include: 

  • Alimony
  • Childcare 
  • Life insurance 
  • Motor vehicles (up to $3,500)
  • Personal injury compensation
  • Retirement benefits and accounts
  • Qualified college savings 
  • Various other property 

These exemptions are not guaranteed. You must meet specific conditions to qualify for each one. Our bankruptcy lawyer can help you assess your property and determine if it’s protected. 

Wake Legal & Associates’s Chapter 7 Bankruptcy Attorney in Raleigh

Serving Raleigh, Durham, Apex, Cary, Morrisville, Wake Forest, and Johnston County

At Wake Legal & Associates, it’s our mission to help residents of the Research Triangle and surrounding areas free themselves from debt. Our Raleigh bankruptcy lawyer has been practicing for well over a decade, so we’re extensively familiar with the state and federal laws that govern the bankruptcy process. We know what to expect when filing for Chapter 7 and can help you avoid obstacles that might otherwise compromise your chances for a discharge. Attorney Michael Hopper will review your case and personally guide you through bankruptcy from start to finish. 

Call (919) 823-9299 or message us today to discuss your case.

Client Testimonials

  • 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.”

  • 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.”

  • 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.”

  • 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.”

  • 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.”

Meet Attorney Michael W. Hopper

Michael W. Hopper is a goal-oriented, determined Raleigh attorney. When Mr. Hopper takes on a new case, it is always his number one priority to thoroughly review the client’s situation and discuss their particular goals in order to help them make the decision that is truly the best for them not just in the short term but in the future as well. Most importantly, he is a caring and compassionate attorney that is dedicated to the needs of his clients. His passion for the law and for people provides him with the unique ability to effectively navigate stressful situations.