Is Bankruptcy Right for You?
Considering Your Options for Debt Relief
How do you determine if bankruptcy is right for you? Are there alternatives to bankruptcy that will better serve you and your family? Each individual financial situation is unique and should be addressed that way. When Love & Dillenbeck, PLLC takes on your case, we do so with the commitment to find the best strategy to bring your financial problems to an end. If this includes filing for bankruptcy, we will devote the time and attention necessary to ensure that your case goes smoothly and efficiently. We also litigate debts that could follow you after bankruptcy to get them resolved so that you have the best possible opportunities once the process is complete.
In some cases, however, bankruptcy may not be the best option. Through our years of legal experience, we have dealt with all types of clients who are facing all kinds of financial problems. Our legal team has developed the ability to analyze your situation and counsel you on the best approach to freedom from debt. Our attorneys take pride in providing individual legal counsel that is geared to identify the best possible solution on an individual basis in all types of debt related issues. These could include a variety of strategies, including filing for either
chapter 7 or
chapter 13 bankruptcy, or fighting back against harassing creditors that have violated the
Fair Debt Collection Practices Act.
Too many of those who are under significant debt burdens are unable to seek relief because they are under the constant stress of creditor calls, legal threats, repossessions or wage garnishment. We are committed to helping our clients get their financial situation under control and helping them get back on track and moving forward without these burdens.
When Bankruptcy May Not Help
If you are considering filing for Chapter 7 bankruptcy, also known as liquidation bankruptcy, you must be aware that there are several situations that may disqualify you from receiving the debt relief you need. For example, you cannot file for Chapter 7 bankruptcy if you obtained a discharge of your debts through Chapter 7 or Chapter 13 bankruptcy in the last six years. Chapter 7 may not be the right choice for individuals who had a previous bankruptcy case that was dismissed for violating a court order or other reasons.
Individuals who have defrauded their creditors through questionable activities like unloading assets to friends or relatives to hide them from creditors should also consider another form of debt relief besides bankruptcy. If the court finds out that you incurred debts for non-necessities when it was evident that you were broke or lying about your income or debts, your case may be thrown out.
You must also keep in mind that you will have to give up certain property when you file for Chapter 7 bankruptcy. In North Carolina, debtors are usually allowed to keep a motor vehicle (up to a certain value), reasonably needed clothing, reasonably needed household goods, furnishings and appliances, pensions and retirement plans, life insurance (up to a certain value), and other items. To learn more about the exemptions that apply to your case, call our firm today.
Love & Dillenbeck, PLLC – Our Unique Approach
For those who are considering filing for bankruptcy in Charlotte or the surrounding communities, it can be difficult to know how to choose the right attorney. This is understandable. A large number of our clients come from personal referrals from our clients who have had great results from our tireless work. We treat you individually, with respect, and know that the economic situation in the country has led to many hardworking people suffering from terrible financial stress. Our goal with regard to our community is to help as many people as we can.