Helping Mecklenburg County Residents Get a Fresh Start
Are you feeling overwhelmed with debt and don't know where to turn for help? You're not alone. Many people face similar struggles, and bankruptcy can offer a path to relief. At Hands Law, our team not only focuses on personal injury cases but also provides support for financial challenges like bankruptcy. With years of experience, we've helped hundreds of people find a way to manage their debts and look forward to a fresh start.
The great news is that you don't need to meet us in person to begin your journey to financial recovery. Everything can be handled remotely, from consultations to preparing your case, so you can move forward comfortably and safely. Don’t let debt hold you back any longer.
Speak with a Chapter 7 bankruptcy attorney in Charlotte today by calling (704) 459-7410 or contacting us online.
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There's a lot of confusion about Chapter 7 bankruptcy, and many people harbor misconceptions. Some believe it's only for people who have made irresponsible financial decisions. Others think it means losing everything they own. At Hands Law, we want to dispel these myths and help you see how Chapter 7 can actually provide a much-needed lifeline. It's essential that you have the right information to make informed decisions about your financial future.
Chapter 7 bankruptcy is a legal way to clear most of your debts and make a fresh financial start. Unlike Chapter 13, which involves setting up a repayment plan, Chapter 7 eliminates eligible debts entirely.
Here are some key points about Chapter 7:
Eliminates unsecured debts
Quick process (four to six months)
No debt limits
Requires passing a means test
It's important to remember that bankruptcy is not something to be ashamed of or a sign of failure. This law exists to protect and help those who need relief from overwhelming debt. Remember, reaching out for assistance shows strength and a commitment to change your financial path for the better.
Navigating the Chapter 7 Bankruptcy Process
Filing for Chapter 7 bankruptcy might seem intimidating, but with a knowledgeable attorney by your side, the process can be surprisingly smooth. At Hands Law, our experienced team helps guide you every step of the way, making it easier to manage your case without unnecessary stress. We believe that with the right support and information, you can focus on taking positive steps towards a debt-free future.
The steps involved to successfully file Chapter 7 bankruptcy in Charlotte include:
Pre-filing counseling - Before filing, you must attend a credit counseling session. This mandatory meeting helps you understand all available options and decide if bankruptcy is right for you.
Filing the petition - The next step is to file a formal petition with the court. This important document lists your debts, assets, income, and expenses, so the court can assess your financial situation.
Automatic stay - Once you file, an automatic stay takes effect immediately. This pause stops most creditors from collecting debts, giving you some breathing room while things are settled.
Meeting of creditors - A few weeks after filing, you're required to attend a meeting of creditors (also called a 341 meeting). Here, you’ll answer questions about your finances under oath.
Liquidation phase - In some cases, certain non-exempt assets may be sold to pay off creditors. However, many personal belongings remain protected.
Debt discharge - At the end of the process, you receive a discharge of qualifying debts. This means that you are no longer responsible for those debts, giving you a chance for a clean slate.
By having Hands Law navigate your chapter 7 bankruptcy, we aim to make this process as easy as possible so you can focus on creating a fresh start. We also provide education on financial management, helping you avoid falling back into debt in the future. Let us assist you in taking the first steps towards rebuilding your financial health.
We provide legal support in both English and Spanish, ensuring clear communication and personalized representation for every client.
Dedicated Advocacy for Every Client
No matter the complexity of your case, we fight for your rights with tenacity, dedication, and professionalism.
Clear Communication, Reliable Results
We prioritize open, transparent communication to keep you informed and confident throughout your legal journey.
Proven Expertise, Compassionate Approach
With years of experience and a deep commitment to client well-being, we combine legal proficiency with a compassionate touch.
What Chapter 7 Bankruptcy Cannot Do
While Chapter 7 bankruptcy can be a great tool for wiping out many debts and beginning anew financially, it's important to keep in mind that it's not a magical solution. Bankruptcy laws have been created to offer relief within certain boundaries and may not address every financial issue you face. Being informed about these limitations can help you have realistic expectations as you embark on this journey.
Some limitations of filing a Chapter 7 include the following:
Eliminate all types of debt - Debts like student loans, child support, and recent tax obligations usually remain after filing.
Protect co-signers - If someone has co-signed on a loan, they could still be held responsible for the debt.
Avoid secured credit obligations - If you have debts secured by collateral, such as a car or home loan, the lender might still repossess or foreclose on the property unless payments resume.
Immediately rebuild your credit - Filing for bankruptcy will affect your credit score and report for up to a decade, which can impact your ability to obtain new credit.
Solve underlying financial habits - Bankruptcy doesn’t address the behaviors that may have led to your financial challenges, so it's essential to seek resources and support for better financial management.
We aim to provide you with a clear understanding of what Chapter 7 bankruptcy involves and its potential impact. Our team at Hands Law is here to guide you through the process and provide any additional explanations you need during a personal consultation.
Reach out to our firm today at (704) 459-7410 to learn more from a qualified Charlotte Chapter 7 bankruptcy attorney and take the first step in addressing your financial concerns.
