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620 Green Valley Road, Suite 209, Greensboro, North Carolina 27408
Free initial phone consultation 336-609-6878 336-609-6878

Bankruptcy Attorney Helping Greensboro Clients File for Chapter 13

How to file for Chapter 13 bankruptcy in the Asheboro area

At Blalock Law Offices, P.A., I help numerous North Carolinians understand the Chapter 13 bankruptcy filing process. I am committed to personal service and guide you each step of the way. I understand that filing for bankruptcy can be an intimidating process, but it does not have to be if you have an experienced attorney.

What is the process I can expect if I file for Chapter 13?

Whether you selected Chapter 13 for its unique benefits because you did not qualify for Chapter 7 or because Chapter 7 exemptions did not adequately protect your property, the Chapter 13 bankruptcy process officially begins by filing a bankruptcy petition with the bankruptcy court serving your county in North Carolina. Your filing must include a number of documents:

  • Schedule of assets and liabilities
  • Schedule of current income and expenses
  • Schedule of executor contracts, including unexpired leases
  • Statement of financial affairs
  • Certificate of credit counseling
  • Previous year’s tax return

After filing your petition, the automatic stay goes into effect and a bankruptcy trustee is appointed to oversee your case. While the stay is in effect, most creditors are legally barred from suing you, garnishing your wages or harassing you to make payments. The trustee schedules a meeting approximately 30 days following your petition filing. At this meeting, or creditors meeting, you must testify under oath and answer questions regarding your financial affairs. At Blalock Law Offices, I guide you through each step of this process.

Asheboro area attorney explains the Chapter 13 payment plan

Your payment plan is formulated by you and your attorney, who may make use of a Chapter 13 payment calculator. After filing your petition, you must submit a payment plan within 14 days. Under the plan, priority claims must be paid in full. Secured claims must also be accounted for, unless you surrender the property with the security interest. Depending on the amount of disposable income you have after handling priority and secured claims, you may not need to pay for unsecured claims. You must begin making payments under your Chapter 13 payment plan within 30 days of your filing, even if the court has not yet approved the plan. Within 45 days, the judge holds a hearing to verify that your plan is feasible and meets the standards for confirmation.

Contact us today for guidance

Understanding the Chapter 13 process can reduce your anxiety and help you better plan for the future. At Blalock Law Offices, P.A., I can guide you through the process one-on-one. Please call today at 336-609-6878 or contact us online to schedule your free consultation.