The Bankruptcy Process

Has your debt become unmanageable?  If so, you are well aware of the frustration that comes with accumulating piles of unpaid bills and constant creditor calls.  If you think bankruptcy might be for you, you are urged to contact a bankruptcy lawyer at once for diligent legal support.  At Tolin & Tolin, PLLC, we help individuals go through the bankruptcy process for freedom and a fresh financial start.

As an individual, you would be looking at either Chapter 7 or Chapter 13.  Your monthly income for the past six (6) months is measured against the Census Bureau’s median family income data for North Carolina.  If it is below the median income in the state, you would qualify for Chapter 7, and the elimination of your consumer debt.  If it is above the median income, you would qualify for Chapter 13, in which your debt would be reorganized.  In Chapter 13, you make payments according to a repayment plan for 3 to 5 years, and most or all of the remaining debts would be discharged upon the plan’s completion.

The best step you can take in starting the process is to talk with a caring attorney at our firm.  We can help guide you on paperwork to gather in order to commence bankruptcy. You would also take a means test, which will determine if you will file under Chapter 7 or 13.  As far as property ownership, you are entitled to keep a generous amount of your belongings when filing bankruptcy.   We can take action to help you keep as much of your property as possible.  If you face serious financial troubles, we are here to help.  Call our firm today and begin to retake control of your financial future.