Chapter 13 Bankruptcy Lawyer North Carolina
If you are considering filing for bankruptcy, our North Carolina Chapter 13 bankruptcy lawyer is here to help you learn the benefits and implications of this type of bankruptcy.. This short article is designed to create some understanding around the differences between Chapter 7 and Chapter 13, and why you might choose Chapter 13.
Attorney Chris Layton became a lawyer to help people who would otherwise be taken advantage of, and he is prepared to help defend your rights and your interests in your bankruptcy case. As a North Carolina resident for over 20 years, and with over a decade of legal experience, he is dedicated to serving members of the North Carolina community with their legal needs. To discuss your case with our team and find out how we can assist you, contact The Layton Law Firm today to schedule your free consultation.
Save Your House Or Car With Chapter 13 Bankruptcy
Chapter 13 allows you to keep making your normal mortgage payments and car payments while slowly making up the amount you are behind. With Chapter 13, you will establish a court-approved repayment plan, pay a small percentage to unsecured debt, and address any tax issues.
Once your Chapter 13 plan is approved by the court, your creditors must honor it. This means both secured (house, car) and unsecured (medical bills, credit card bills) have to honor the plan.
Your Chapter 13 repayment plan is created based on an assessment of your “ability to pay”. For most clients, this means you pay a small percentage to unsecured debts. This is a large part of what enables you to afford a Chapter 13, while simultaneously catching up on payments on assets such as your house or car.
The issue of taxes is somewhat complicated in Chapter 13 bankruptcy, but if your taxes are three years old or older and you filed your returns on time, you can address tax debt with Chapter 13. This prevents the IRS and the state from garnishing your paycheck and charging penalties. Our North Carolina Chapter 13 bankruptcy lawyer will help you determine if you are eligible for tax debt relief through Chapter 13 bankruptcy.
Contact Our North Carolina Chapter 13 Bankruptcy Lawyer Today
While a Chapter 7 filing is an arguably easier and undeniably faster way to discharge debt, a Chapter 13 filing often helps you accomplish your longer-term goals and objectives. Our Chapter 13 bankruptcy lawyer will help you assess your situation, understand the differences between Chapter 7 and Chapter 13, and make the right decision in regards to your interests and your financial future.
You do not have to go through the process of filing for bankruptcy alone. Our team is here to provide the dedicated, passionate, and experienced representation that you deserve. Contact The Layton Law Firm by emailing [email protected] or calling 704.749.7747 today to discuss your situation. I answer my own telephone, and I would be happy to hear from you.