People in Smithfield, Selma, Four Oaks, Benson, Clayton, and across Johnston County, NC, have chosen to work with our law firm because:
- An experienced bankruptcy attorney will handle your case. No matter your needs, you will work one-on-one with the bankruptcy attorney who will handle your case.
- You will receive an in-depth evaluation of your case. We are here to help you resolve your financial problems and show you the path to stability. In our first meeting, we’ll be ready to review your income, assets, recurring expenses and outstanding debt, and lay out all options available to you. After a case evaluation with the Sasser Law Firm, you will have the information you need to decide how to proceed.
- We provide solid advice with no pressure on you. Your Sasser Law Firm attorney is going to be straightforward with you. He will tell you what he believes is the best choice for your situation, whether that involves bankruptcy or some other alternative. But we never pressure clients to file for bankruptcy. However you choose to proceed, we want you to be comfortable with the decision.
- Our fees are affordable. First, you pay nothing for your initial case evaluation. Then, your fees vary according to the solution you choose. Chapter 7 bankruptcy fees are based on your income. For Chapter 11 cases, we have competitive, flat-fee arrangements. In Chapter 13 reorganizations, all costs are rolled into the repayment plan, so you pay nothing up front.
- We can protect you from creditors right away. We handle emergency bankruptcy cases and can begin filings the day you meet with us to stop creditors poised to foreclose on your home or seize your assets.
- We take on the tough cases. Our Smithfield bankruptcy lawyers are experienced, board-certified litigators. We don’t shy away from complex bankruptcy cases or cases that require us to fight for our clients. We have the knowledge, resources and commitment required to tackle the toughest cases from start to finish, including all necessary appeals.
You have options if you are struggling with debt. Contact our Johnston County bankruptcy law firm for relief today. We handle personal and business bankruptcies, and we can start with your free case evaluation as soon as you are ready.
Information Needed for Your Free Case Assessment
Our first step for helping you is to conduct a thorough review and assessment of your financial situation, which means examining all your financial records. For your initial consultation with our firm, you should bring:
- A list of creditors you owe money to, and how much you owe each of them
- A list of your required monthly expenses
- A list of your assets — personal property, real estate, retirement accounts, insurance, etc.
- Information about your income, such as a paycheck stub.
A bankruptcy attorney with Sasser Law will explain your best options. Our attorney will explain what filing for bankruptcy involves, and what you can expect throughout the process.
Our bankruptcy attorneys in Johnston County will do all the legwork required to ensure your bankruptcy filing or other financial arrangements are complete and recorded as required by law. Our goal is to take on all of the necessary workload we can, though you may need to obtain and/or sign certain personal financial documents.
Bankruptcy Cases Our Law Firm Handles for Johnston County Clients
There are numerous types of bankruptcy filings available to meet consumers’ and businesses’ needs. No two cases are exactly alike. The type of bankruptcy protection you need depends on the specifics of your financial situation. Your Johnston County bankruptcy attorney will take the time to understand your financial situation and your needs and goals before drawing up a plan tailored to put you on a course toward financial stability.
Some of the types of bankruptcies our attorneys regularly pursue for residents and businesses in Smithfield and other Johnston County communities include:
Chapter 7 is the most common type of bankruptcy. It allows an individual to have most unsecured debt forgiven, which includes credit card balances, past rent, phone and utility bills, medical bills, unsecured personal loans and deficiency balances on repossessed vehicles. Individuals who go through Chapter 7 bankruptcy can rebuild their credit faster afterward, and most Chapter 7 cases cost less than other options.
Chapter 7 also includes:
- Immediate protection from creditors.
- Selling assets through a bankruptcy trustee to repay creditors, known as “liquidation.”
- Exemption of basic assets from liquidation that are necessary for daily life, such as your house, car, clothes, and major appliances, if you meet certain income requirements.
- Closing a business as part of Chapter 7 bankruptcy.
Under a Chapter 11 bankruptcy, your Johnston County business can recover from unmanageable debt by developing an acceptable plan to pay creditors over several years and to move forward responsibly in the future. Creditors may vote to accept or reject a Chapter 11 reorganization plan.
Chapter 11 bankruptcy includes:
- Emergency protection and time to prepare a plan for financial recovery if the business needs intervention to survive.
- A temporary halt to foreclosure, eviction, levies or lawsuits against the business.
- Sale of assets by the business owner (not a trustee) as necessary to pay debts
- Business owner’s continued control of day-to-day business operations and finances.
- At least five years to pay delinquent business taxes.
- Options for restructuring existing business debts, which may include modifying interest rates, lengthening payment terms, and reducing balances.
Chapter 12 Reorganization for Family Farmers
Financially distressed farmers in Johnston County may qualify for an adjustment of debts through a Chapter 12 bankruptcy filing.
This section of the federal bankruptcy code is tailored to the financial realities of family farming, whether an individual, a husband and wife, or a partnership. It allows distressed farmers to propose a plan to repay all or part of their debts over three to five years and removes many of the barriers that debtors would encounter under either a Chapter 11 or Chapter 13 filing.
There are eligibility criteria including that the total debts of the farming operation must not exceed a certain amount, that more than half of the family farmer’s gross income for the preceding year must have come from farming, and at least half of the fixed debts must be related to farming.
The law provides that only family farmers with stable, annual income may file under Chapter 12. The purpose is to ensure that the grower has regular income to make payments under a Chapter 12 schedule. If you have a distressed farming operation and need debt relief, our Johnston County bankruptcy attorneys can review whether you qualify for Chapter 12 bankruptcy relief.
A Chapter 13 bankruptcy allows an individual to repay their debts over three to five years. A Chapter 13 filing is an option for individuals who are self-employed or own a small business. A Chapter 13 bankruptcy does not erase debts such as student loans, overdue taxes and alimony payments.
Chapter 13 bankruptcy includes:
- Developing a payment plan acceptable to the bankruptcy court that provides for paying unpaid mortgage payments, auto loans, and other debts.
- Protection from debt collectors during the three-to-five-year length of the court-approved repayment plan.
- Potential modification to the terms of outstanding debt to reduce payments and eliminate interest on overdue payments.
- Consolidation of debt and legal fees into a monthly or bi-monthly payment. The payment may be deducted from your paycheck and sent to a bankruptcy trustee who distributes payments to creditors.
Johnston County Bankruptcy Litigators
Most cases proceed smoothly through the U.S. Bankruptcy Court system. However, when disputes with creditors emerge, litigation can prove unavoidable. The bankruptcy lawyers of the Sasser Law Firm are experienced litigators who have the trial experience and knowledge of bankruptcy law needed to handle the most difficult cases successfully.
Because of the thorough case assessment we conduct at the start, we usually anticipate areas of potential resistance and are prepared to fight for your interests from initial hearings through all necessary appeals.
Issues that typically lead to litigation in a bankruptcy proceeding include disputes over:
- Creditors’ rights
- Asset values
- Asset sales
- Interest rates
- Tax issues
- Accusations of breach of fiduciary duty
- Accusations of fraud
- Restructuring plans developed outside of court
- Pre-bankruptcy separation agreements.
Bankruptcy litigation can become complex when several parties have their own interests to look out for. This is when it pays to be represented by a bankruptcy law firm that has the knowledge, skill, resources and willingness to stand and fight for you.
Because bankruptcy hearings and trials are held on timetables that are faster than other types of legal proceedings, your attorneys need to know how to gather the financial information your case requires and be ready to act upon it quickly.
Johnston County Bankruptcy Proceedings
Bankruptcy proceedings initiated in Johnston County are processed by the U.S. Bankruptcy Court for the Eastern District of North Carolina, which is in Downtown Raleigh at:
Century Station Federal Building
300 Fayetteville Street
The court’s hours are 8:30 a.m. to 4:30 p.m. weekdays.
Talk to an Experienced Johnston County Bankruptcy Attorney Today
The board-certified bankruptcy lawyers at The Sasser Law Firm can help you with an individual bankruptcy, a family farmer bankruptcy or a business bankruptcy case in Johnston County. Whatever financial difficulties you are facing, you’ll feel better after taking the first step to deal with the situation.
One of our attorneys can sit down with you to discuss your financial situation free of charge. Our goal is to guide you toward a brighter financial future for yourself or your business. We’ll work with you to develop a plan and, if necessary, seek emergency protection to prevent foreclosure or seizure of your property.
Take the first step by contacting us now to schedule a no-obligation legal consultation with an experienced Johnston County bankruptcy attorney. The Sasser Law Firm works with individuals and businesses in Smithfield, Selma, Four Oaks, Benson, Clayton and surrounding North Carolina communities.