North Carolina Bankruptcy Attorneys
The North Carolina bankruptcy attorneys who can best represent your case
Jacoby Meyers Bankruptcy Law' sponsored North Carolina bankruptcy attorneys are fully prepared to help you get through the bankruptcy filing process and build a better future. These are among the most experienced bankruptcy attorneys yet they are also known for their genuine concern for their client's welfare. This is one group of bankruptcy attorneys who do more than file papers. They provide the kind of support clients often need during a stressful situation. They know how tough this time is in your life, and they know this will be the one of the biggest events in your financial life.
North Carolina bankruptcy attorneys understand all aspects of your situation.
The bankruptcy attorneys for Jacoby Meyers Bankruptcy Law are very aware of all aspects of financial cases. They may be able to help you keep your house, car and personal belongings through the process of reaffirming.
Did you know that mortgage lenders and automobile finance companies are usually more than happy to keep accepting your current monthly payments both before and after a Chapter 7 bankruptcy? This is called reaffirming your debt. They're business is to make money, not to repossess your property. When the finance company reaffirms the debt, they have the comfort of knowing that you have no other outstanding debts, you cannot file again for another eight years, and they can continue to collect the principal plus interest under the original loan agreements.
A Chapter 7 is one of the most effective ways to immediately stop garnishments. Garnishments can diminish your hard-earned income making it nearly impossible for you to afford basic necessities. By filing a Chapter 7 and stopping the garnishment, you will be able to use your income for more important necessities in life and start saving for your family's future.
Jacoby Meyers Bankruptcy Law will make all of the arrangements for you to reaffirm your debts on your home, car or other household goods that you are financing. Many credit card companies are also willing to reaffirm your debt with them and reinstate your line of credit after your discharge. Although we are happy to arrange reaffirmation agreements on these debts as well, we also caution our clients to avoid getting back into the credit card trap.
New law changes could effect your situation
Pressured by the multimillion dollar lobbying effort of credit card companies, Congress has passed a new law that severely limits your ability to eliminate debt. The new law drastically affects your ability to get relief under both Chapter 7 and Chapter 13.
Under Chapter 7, the new law prevents you from eliminating your debt if you made at least the median U.S. income and could afford to pay back only 20% of your debt through installments of at least $50 per month over at least a 5 year repayment plan. What is worse is that the Government determines your ability to make these monthly payments using IRS standards for household expenses, which most of the time are not realistic, and do not consider individual circumstances.