Let the Bankruptcy Experts Help You Get Out of Debt Now
Lee County has been one of the hardest hit areas of North Carolina for job losses. With a high of nearly 15% unemployment just five years ago, many in Sanford and the surrounding areas struggled to pay their bills, racked up debts just trying to get by and ended up owing more than they could pay. For many, this means maxed out credit cards, unpaid medical bills and delinquencies on student loans, car notes and mortgage payments. We can help with all of this.
Have You Suffered Long-Term Unemployment?
Even today, unemployment in Lee County is greater than 8% and is one of the most persistently high rates in the state of NC. If you're one of those that suffered long-term unemployment or are underemployed because you're working outside of your field, for a lower wage than you're accustomed to or less than full-time, you are likely struggling to pay your bills. And with our state rejecting expanded unemployment benefits, you may have been getting by on next to no money. We can help you get out of debt right away.
Are Debt Collectors Ruining Your Life?
If you're behind on your bills, you're likely being hounded by debt collectors. Is your mailbox full of collection letters threatening lawsuits or garnishments? Is your home phone ringing off the hook with calls from your creditors, their collection agents or repossession department? Are you getting calls at work that have you worrying that you will lose your job? Although there are rules collectors have to abide by, often they step outside of bounds and make illegal threats that can be scary and stressful.
Are You Deep in Debt and Looking for a Fresh Start?
If you're completely overwhelmed by debt, including maxed out credit cards you can't pay, medical bills, a home with no equity (or even negative equity), second mortgage or home equity line that's maxed and past due and other bills, a Chapter 7 bankruptcy may be the best solution. From the moment we file a Chapter 7 bankruptcy petition for you, all collections activity must cease and all of your unsecured debts will be discharged within a couple of months. This chapter offers a complete and total financial fresh start. Those debts that do remain after your filing will be easier to deal with once your other debts are vanquished.
Do You Just Need Some Time to Catch Up on Your Bills?
If you have equity in your home and want to keep it, but are behind on your mortgage payments, Chapter 13 may be preferable. In this type of bankruptcy, the court will calculate your disposable income and then put you on a three to five year payment plan, depending on your debts. You'll pay your disposable income to a Trustee who applies this to your past due balances on your secured debts like your mortgage and car loan. If you have a second mortgage that exceeds your equity, you may be able to get this stripped away. And if you owe more on your car loan than the vehicle is worth, your attorney can ask for the loan amount to be reduced to the fair value and your interest rate be lowered.
Don't Let Your Debt Control You
Most of our Lee County clients that come to us for help have suffered a major life event that has caused their financial stress. For some, it's divorce, for others, it may be an accident or serious illness of themselves or a family member. Your debt shouldn't be what controls your life, but when your finances are out of control, it can consume you. No matter why you're in debt, our expert attorneys can help. Contact the law offices of John T Orcutt today for a free consultation on your debts and learn how bankruptcy can help you get a financial fresh start.