When you’re at risk of losing everything, you need expert Raleigh bankruptcy lawyers with the resources and the skills to help you make a solid plan for a fresh start. At the Sasser Law Firm, our board-certified bankruptcy attorneys have helped more than 8,500 individuals and businesses file for bankruptcy protection in North Carolina.
For more than 20 years, clients have chosen our bankruptcy law firm because:
- You will work directly with an experienced bankruptcy attorney. We don’t pass off clients to paralegals or assistants. We meet with you one-on-one, and the attorney you meet is the attorney who handles your case.
- We provide in-depth case evaluations. In our initial meeting, we will go over your income, assets, expenses, and the types of debt you have so we can lay out all your options. We want you to leave a case evaluation armed with the information you need to take the next step.
- Our attorneys take a straightforward, no-pressure approach. Bankruptcy is a big decision, and you should feel comfortable with how you decide to proceed. Our attorneys will be honest about what path we think is best, including if we feel a bankruptcy alternative may be better for you.
- Our firm offers affordable pricing. An initial consultation is always free. For Chapter 13 filings, we do not charge any fees upfront, and all costs are rolled into the repayment plan. For Chapter 7 bankruptcies, we offer an income-based fee structure. In Chapter 11 cases, our firm has competitive, flat-fee arrangements.
- We act quickly to protect you. Our firm welcomes emergency bankruptcy cases, and we are often able to start the process the day you meet with us. We will recognize the time-sensitive nature of your case and act accordingly.
- Our firm tackles the tough cases. Our experienced bankruptcy litigators do not shy away from complex cases. We are prepared to fight for our clients, including all the way through appeal.
If you want to talk about your options for getting out of debt, contact one of our Raleigh bankruptcy attorneys today. Our law firm handles both consumer bankruptcy and business bankruptcy cases. We can do a free case evaluation quickly and get started on your case as soon as you are ready.
Types of Debt Relief Cases Our Bankruptcy Law Firm Handles
When deciding to file for bankruptcy, the route you choose to go will depend on your specific situation, and your goals. At the Sasser Law Firm, every case we handle is unique, so we will create a tailored approach aimed at achieving the clean slate you need.
Some of the cases our Raleigh bankruptcy lawyers commonly handle include:
Chapter 7 (Liquidation ─ Personal or Business):
- Chapter 7 bankruptcy involves selling your assets to pay your creditors.
- Protection from creditor action begins as soon as the bankruptcy petition is filed.
- Individuals can typically retain many of their assets that are considered exempt under North Carolina law. However, they must meet strict income requirements to qualify to file Chapter 7.
- In Chapter 7, individuals can be granted a discharge (or forgiveness) of general unsecured debts. This may include credit cards and store accounts, medical bills, deficiency balances from repossessed vehicles or foreclosed mortgages, unsecured personal loans and business debts, some tax obligations, and other debts.
- Businesses can use Chapter 7 to take the pressure off owners and allow a bankruptcy trustee to liquidate assets and pay creditors, effectively shuttering the business.
- Chapter 7 cases often move faster, and people can rebuild credit more quickly afterward.
- Chapter 7 cases typically cost less.
Chapter 13 (Reorganization ─ Personal):
- Chapter 13 allows the debtor to propose a repayment plan to catch up on mortgage payments, car payments, and other debts over a three- to five-year period. The debtor is protected from creditor collection action during this period.
- A debtor may be able to renegotiate the terms of debt in a Chapter 13, leading to lower payments.
- There are no fees upfront to prepare and file a Chapter 13 bankruptcy case. All case costs are included in the Chapter 13 payment plan.
- Chapter 13 plans consolidate the debt into one monthly or bi-monthly payment, which can be automatically deducted from the individual’s paycheck. This payment goes to the bankruptcy trustee, who then distributes money to creditors.
- People who are self-employed or own their own business may want to consider a Chapter 13 bankruptcy repayment plan.
Chapter 11 (Reorganization ─ Business):
- Chapter 11 provides temporary relief from creditors that may be pursuing foreclosures, evictions, levies, and lawsuits.
- Businesses may file for emergency protection or take their time to prepare, depending on their situation.
- Businesses can propose alternative treatments for paying off debt in Chapter 11. This may include suggesting adjustments to interest rates, terms of payment extensions, and balance reductions.
- In contrast to Chapter 7 bankruptcy, Chapter 11 allows businesses to control the sale of assets.
- In Chapter 11, businesses receive at least five years to pay off their tax debts.
- Chapter 11 allows businesses to emerge from bankruptcy with a feasible financial plan and a path to success.
Bankruptcy Litigation and Appeal in Raleigh
Although most cases move smoothly through the Bankruptcy Court system, there are situations where disputes emerge and litigation is unavoidable. At the Sasser Law Firm, our seasoned bankruptcy litigation team has the trial experience and the extensive understanding of bankruptcy code necessary to handle the most complicated cases. We work to get ahead of cases where resistance is expected, so we can be prepared to argue for our clients all the way through appeal, if necessary.
Some of the common litigation issues our Raleigh bankruptcy attorneys handle include:
- Accusations of fraud
- Disputes over the rights of creditors
- Valuation issues
- Disputes over the sale of assets
- Tax matters
- Accusations of breach of fiduciary duty
- Interest rate disputes
- Challenges to out-of-court restructurings
- Pre-bankruptcy separation agreements
Bankruptcy Court litigation is a particularly complicated field. There are typically numerous parties involved, all fighting for their own best interests. In addition, bankruptcy trials and hearings are held on a shorter timeline than other types of cases, meaning attorneys must know what information they need and act quickly.
No matter what type of financial hardship you’re facing, the first step to correcting it is to schedule a free consultation with an experienced bankruptcy lawyer. Contact us today to get started.
Information We Will Need from You to File Bankruptcy in Raleigh
As you probably suspected, filing for bankruptcy involves a lot of paperwork. However, our attorneys will do all the legwork up front to ensure your bankruptcy filing is complete and contains all the necessary documentation.
When you schedule an initial consultation with our bankruptcy firm, it would be helpful to have on hand:
- A list of creditors, as well as the amounts owed
- Information about income
- A list of assets
- A list of monthly expenses
Our lawyers will explain the process of filing for bankruptcy and prepare you for what to expect every step of the way. We will also discuss bankruptcy alternatives that may be an option for you. Our goal is to give you a thorough assessment of your situation and help you make a plan for moving forward.
Talk to an Experienced Bankruptcy Lawyer in Raleigh Today
At the Sasser Law Firm, our team is available to simply discuss your options, make a plan, or take immediate action to protect you. We handle both personal bankruptcy and business bankruptcy cases. Whatever you need, we are here to support you as you work toward a better financial future for yourself or your business. If you are not familiar with bankruptcy, you may read our bankruptcy FAQs.
Schedule a free consultation with our bankruptcy attorneys now to talk about your case. Our bankruptcy law firm works with individuals and businesses in the Raleigh area, Wake County, and surrounding North Carolina communities.