Is Bankruptcy Right for Your Financial Situation?

Bankruptcy can be a good option to get out of overwhelming debt and starting anew; however, not everyone qualifies for filing for bankruptcy. If you’re currently weighed down by large amounts of debt and bills you cannot pay, we offer a free consultation to help you discover if bankruptcy is right for you.

 

Here are 3 factors to consider when determining if bankruptcy is right for you.

 

Will bankruptcy help your situation?

Overwhelming debt is stressful and can lead to anxiety and despair. At The Law Offices of John T. Orcutt in Wilmington, NC, we’re here to help you handle your debt and get rid of those feelings.

It’s important to remember bankruptcy is not a get-out-of-jail free card. Priority obligations, like student loans, typically are not eliminated when you file for bankruptcy. Creditors want their money and something is better than nothing. Depending on your situation, it may be better to settle your debt outside of bankruptcy.

 

Are you facing a lawsuit?

Creditors can file suit against you to get their money. If successful, they can garnish your wages or put liens on your assets. Filing for bankruptcy places an automatic stay on nearly all debt collections, including lawsuits. Legally, this means that creditors are forbidden from pursuing collection from you. Lawsuits and debt collectors are a huge financial and emotional burden, and bankruptcy could provide necessary relief.

 

We can help you get relief.

 

Schedule an appointment or come into our Wilmington office today to discuss how filing for bankruptcy can help you!

 

What kind of bankruptcy should you file for?

The terms Chapter 7 and Chapter 13 bankruptcy get thrown around so often it can be confusing to figure it all out. Whether you choose to file for one or the other depends on a wide variety of factors including:

  • What you want to achieve by filing for bankruptcy
  • What type of debt you owe
  • How much income you have and what your expenses are
  • What kind of property you own

 

Bankruptcy laws vary slightly depending where you live so it’s important to have a local attorney handle your case. Here at The Law Offices of John T. Orcutt, we are your Wilmington bankruptcy lawyers and will help you find the relief you need.

 

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Serving North Carolina

  • Charlotte
  • Fayetteville
  • Durham
  • Wilson
  • Greensboro
  • South Raleigh (Garner)
  • Southport (Phone Consults)
  • Wilmington (Phone Consults)

North Raleigh

6616 Six Forks Rd Suite 203 Raleigh, NC 27615 North Carolina

Tel: (919) 847-9750

North Raleigh

Charlotte

7400 Carmel Executive Park Dr Suite 105 Charlotte, NC 28226 North Carolina

Tel: (704) 318-2702

Charlotte

Fayetteville

2711 Breezewood Ave. Fayetteville, NC 28303 North Carolina

Tel: (910) 323-2972

Fayetteville

Durham

1738 Hillandale Road Suite D Durham, NC 27705 North Carolina

Tel: (919) 286-1695

Durham

Wilson

2215 Nash St. NW Wilson, NC 27896 North Carolina

Tel: (252) 234-9194

Wilson

Greensboro

600 Green Valley Road Suite 210 Greensboro, NC 27408 North Carolina

Tel: (336) 542-5993

Greensboro

South Raleigh (Garner)

143 Highway 70 Garner, NC 27529 North Carolina

Tel: (919) 747-4400

South Raleigh (Garner)

Southport (Phone Consults)

4320 Southport Supply Road SE Suite 300 Southport, NC 28461 North Carolina

Tel: (910) 218-8682

Southport (Phone Consults)

Wilmington (Phone Consults)

4320 Southport Supply Road SE Suite 300 Southport, NC 28461 North Carolina

Tel: (910) 447-2987

Wilmington (Phone Consults)