Raleigh Bankruptcy FAQ

How Long is a Raleigh Bankruptcy Case?

raleigh bankruptcy faqThe length of a case of bankruptcy depends on the type of bankruptcy filed. You should expect about a 3-4 month long bankruptcy for a Chapter 7 Bankruptcy. If you go with Chapter 13 bankruptcy, the plan of payment is usually about 3-5 years. We can discuss your timeline and options if you contact our bankruptcy attorney today by filling out a Free Raleigh Bankruptcy Evaluation form.

How Much Does Filing for Bankruptcy Cost?

The cost of your bankruptcy will depend on the bankrupcy you are filing. There is a required legal fee before the bankruptcy case is filed, and there is also a court filing fee. If you Contact us for a Free Raleigh Bankruptcy Evaluation, then we will give you an estimate for your Raleigh bankruptcy costs.

Will Creditors Stop Harassing Me?

Before you file bankruptcy, your creditors can contact you to talk about your debt with them. These calls must be within reason. You can take legal action against them if you feel like they are overstepping the bounds of collection laws.

Once you file Raleigh bankruptcy, the court issues an “automatic stay”. This disallows creditors from collecting money or contacting you in any way.

Will My Property Be Sold?

It all depends on the bankruptcy that you have filed, and your situation. There are some bankruptcy laws that have certain “exemptions” so that you are protected and you can keep your property. If you contact us for a Free Raleigh Bankruptcy Evaluation, you can learn more about your specific situation.

How is My Credit Affected?

Bankruptcy will usually appear on credit reports for up to ten years. Bankruptcy’s do have a negative affect at first, but it can actually improve credit reports in the future. We recommend you sit down with our Raleigh bankruptcy attorney ASAP to determine how you can and will be affected.

Are Student Loans Discharged?

Because the government does offer consolidation programs according to your specific “ability to pay”, it is difficult to prove that repaying the loan will create hardship that isn’t deserved. Student loans can be discharged, but only if paying off the student loans will create significant financial problems. Please consult with our Raleigh bankruptcy attorney and evaluate your own loan situation and how best to eliminate debt.