Chapter 7 Bankruptcy

You Can Relieve Debt Pressure Through Chapter 7

Bankruptcy is seldom anyone's first choice as the way to resolve severe debt problems, but it's there for a reason — to help you start over financially without the weight of old debt as an unnecessary burden. To learn how Chapter 7 can benefit you and your family, contact a bankruptcy lawyer at the Peebles Law Firm in Winston-Salem for a free consultation.

Call 866-674-4072 for sound advice about Chapter 7 bankruptcy

Chapter 7 offers the most complete relief available under the Bankruptcy Code, but there's a catch — not everyone qualifies. Your net household income must be lower than the North Carolina state median; people with higher incomes will usually need to file under Chapter 13. Don't assume that if you and your spouse both make middle-class salaries you won't qualify for Chapter 7. We can tell you if the adjustments to gross income that yield the net will get you under the income limit.

The main benefit of Chapter 7 is the chance to achieve a complete discharge of most unsecured debts. Most people realize that another important benefit is bankruptcy's automatic stay. That's the rule that requires your creditors to stop collection activities immediately. The automatic stay covers everything from phone calls to lawsuits and garnishments. It also covers mortgage foreclosure.

Even if your income qualifies you for Chapter 7, you might be better off in Chapter 13, which allows you to keep nonexempt assets in exchange for paying off a portion of unsecured debts over three to five years. Our attorneys can review your assets, debts, income and expenses, and give you an accurate idea of your best bankruptcy options.

Clients of the Peebles Law Firm appreciate the personal and individualized service we bring to our bankruptcy practice. We're not satisfied just to do an efficient job with your bankruptcy case from filing to discharge. We also want to help you understand the process completely, answer all of your questions, and do everything possible to take the stress out of the experience. We can also help you with information about rebuilding your credit score.

To learn more about our approach to client service in Chapter 7 bankruptcy, contact an attorney at the Peebles Law Firm in Winston-Salem.