Learn How Bankruptcy Can Help You Get Out of Debt Today
More than 65,000 hard working people live in Chatham County – and many have been hit hard in recent years by unemployment and recession. Although Chatham County now boasts one of the lowest unemployment rates in the state, this doesn't help those that got deep in debt during a prolonged job loss. Rising fuel costs have increased the costs of food, clothing and other necessities. For those struggling with debts, the higher cost of living can put you in deep financial quicksand. We can help you get control over your debts.
Are You Facing Foreclosure? We Can Help Stop It
If you've gotten behind on your mortgage – for whatever reason – bankruptcy is a solid solution to allow you to catch up on your house payments. If your home has negative equity (in other words, if you owe more than your home is worth), you may want to surrender it and unload what's become a bad deal.
Filing a Chapter 7 bankruptcy can stop the foreclosure for a while and will allow you additional time to stay in your home without making payments so you can save up money and find a new place to live. If you have equity in your home and don't want to lose it, filing a Chapter 13 bankruptcy will get you on a payment plan to catch up your past due balance over a three to five year period. At the end of your payment plan, unpaid balances on unsecured debt such as medical bills and credit cards will be discharged.
Is Your Car at Risk? We Can Help You Keep It
If you've missed one or more payments on your car or truck, you have likely received a notice of your lender's intent to repossess your vehicle. You need your vehicle to get to and from work, to the grocery store, to take your kids to school and for every aspect of your life in Chatham County. Filing a Chapter 13 bankruptcy can help you with your past due car balance in two ways.
First, it immediately puts a stop to collection efforts, including repossession, and allows you to make up your past due balance over a period of years. Second – and very important – is that if your balance owed exceeds the value of the vehicle, you may be able to get a “cramdown,” which means your loan balance can be reduced to the fair market value of your car, and your interest rate can be lowered as well. This can make it much easier to afford to keep your car, and we can help you with all of this.
Are You Being Harassed by Debt Collectors Day and Night?
If you miss a payment on your credit cards, car note, house note or any other bill, collections efforts will begin right away. The later you get on your bills, the more hostile the collection agents can be and the more stressful it will be for you. Getting collection calls at home from morning until evening is bad enough, but most collectors will also hound you at work, as well.
Collection agents often make threats that they cannot keep and that are illegal to make, but that doesn't stop them. Getting calls at work can have you afraid you'll lose your job, leaving you depressed and anxious. This is no way to live. The good news is, once you file bankruptcy of any type, all collection efforts must cease immediately. This peace of mind can change your life.
Let the Attorneys at the Law Offices of John T. Orcutt Help You Get Out of Debt Today
No matter what your financial circumstances are, how much you owe, to who or for what, we can help you get out of debt and get back on the road to financial freedom. Don't let your debts overwhelm you and take over your life, let us show you how to get a financial fresh start through a Chapter 7 or Chapter 13 bankruptcy.
Call the law offices of John T Orcutt today for a free consultation at our Garner, Raleigh, Durham or another convenient North Carolina location.