Knowledgeable Counsel Experienced In Chapter 7, Chapter 13 And Chapter 11 Filings
Bankruptcy is a legal means of resolving debt, offering individuals and businesses the chance to face their financial situation head-on and emerge on the other side. Many people think those who consider bankruptcy do so because they’ve simply lived beyond their means. The truth, however, is that most bankruptcies are caused by one or more unfortunate events, such as divorce, medical crises, job losses or business crisis. Bankruptcy is also available to people who are not blameless in creating their financial crisis. We all make mistakes, and bankruptcy provides relief from those mistakes and a fresh start.
It’s important to realize that bankruptcy was created to help people just like you and businesses just like yours find relief from crippling debt.
For more than 30 years, the attorneys at Janvier Law Firm, PLLC, have dedicated their careers to helping individuals and businesses in North Carolina recover from the burden of debt. Our extensive understanding of personal and business bankruptcy laws at both the state and federal level coupled with our deep compassion for our clients ensures the best possible outcome for individuals and businesses alike.
The automatic stay is put into place in almost every bankruptcy proceeding immediately upon the filing of the case. The stay stops almost all actions to collect a debt, including phone calls, collection letters, lawsuits, repossessions, garnishments and foreclosures.
Helping You Find Relief Through Chapter 7
Many people considering bankruptcy have heard of Chapter 7, or liquidation, bankruptcy. Contrary to popular belief, however, filing for Chapter 7 bankruptcy does not mean everything you own will be sold to pay back creditors. Some assets may be liquidated under Chapter 7 but there are state and federal exemptions that allow you to keep property necessary to obtain a fresh start. See the Overview of Bankruptcy for details on the exemptions.
Paying Back Creditors And Living Debt-Free With Chapter 13
An alternative to Chapter 7 is Chapter 13. Chapter 13 is a form of a payment plan on a portion of your debts.
You pay back creditors to some extent — Unlike Chapter 7, in which your dischargeable debts are discharged through liquidation, Chapter 13 allows you to gradually pay back some of your debts over time. Whether you qualify for Chapter 13 or Chapter 7 and which option best serves your interest, we will use our decades of experience to guide you through each stage of the process.
- It takes longer — While Chapter 7 usually discharges debt in three to four months, Chapter 13 takes three to five years. We recognize that you need to eliminate your debt as quickly as possible, which is why we will carefully review your case to determine the best course of action and help you get debt free as soon as the law allows.
- You can keep much of your property — When you file for Chapter 13 bankruptcy, you agree to pay creditors back a portion of what they are owed. As a result, little or none of your property is liquidated — even nonexempt properties are safe, unless you choose to sell properties to decrease your monthly payments.
- The monthly payment amount — Many potential clients mistakenly believe that a Chapter 13 plan requires them to pay 100 percent of their debts. That is rarely the case. In many cases, the debtors pay nothing to their unsecured creditors. What they do pay are secured debts such as car loans, mortgage arrearages, ongoing mortgage payments, and priority claims such as their attorney fees, taxes, and back support obligations.
See the Overview of Bankruptcy for details on Chapter 7 and Chapter 13.
Reorganizing Your Business And Eliminating Debt Through Chapter 11
In addition to helping individuals overcome debt, we routinely help North Carolina corporations, partnerships, and limited liability companies file for Chapter 11, also called reorganization bankruptcy.
If you qualify for reorganization bankruptcy, your business continues to operate while simultaneously paying back creditors.
Individuals may also file Chapter 11 and, in unusual cases, may be preferable to Chapter 7 or Chapter 13. We have the ability to help make that decision and to implement the decision.
Let Us Help You Move Forward From Debt
The experienced attorneys at Janvier Law Firm, PLLC, understand that debt is a heavy burden to carry and one you may feel hesitant to act on because of myths and misconceptions you’ve heard regarding bankruptcy proceedings. When assessing the eligibility of your case, we will provide you with compassionate and confidential legal care, offering you trusted counsel on the different forms of bankruptcy so you can feel confident about moving forward toward a debt-free future.
Our dedicated staff assists us in providing you with the highest level of legal support during every stage of your case. To minimize the emotional strain this process can cause, we provide answers to your most pressing questions at every turn, whether you have questions prior to filing bankruptcy or questions about what life will be like after a petition has been approved.
Consult Our Skilled Bankruptcy Advocates
Whether you are a business owner or individual, declaring bankruptcy is a big step. However, with the guidance of an experienced lawyer, the road to debt recovery is within reach.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.