Many people get caught up in a financial situation and end up having to file bankruptcy. Some file Chapter 7 while others file Chapter 13. Either way, it is nothing to be embarrassed about. The number of people who filed bankruptcy in 2014 on a national level is close to one million. That means having to file bankruptcy is not as uncommon as imagined. If you are in a situation where you are facing similar circumstances, a Bankruptcy Lawyer in Huntersville NC, can provide advice for residents of the state.
The process of bankruptcy in North Carolina involves several steps. The first thing is that you must undergo credit counseling within the six month period before you file for bankruptcy. In addition, you are required to complete a course for financial management after you have filed the petition for bankruptcy. The type of bankruptcy, you will be able to file in North Carolina will be determined by your income and expenses. The decision will rest on measuring your average income in the six month period before your filing for bankruptcy against the median income.
In initiating the bankruptcy process, you must complete an itemization of how much you presently make, what major financial transactions occurred in the past two years, and what your present living expenses are. You will also be required to submit all information pertaining to your assets, such as real estate, cars, and other possessions. You must list all your debts as well. It would be a good idea to have your tax records for the past two years. Putting all of this information together can be quite harrowing. Hiring an attorney who is experienced with bankruptcy can be a blessing in your situation.
The Lake Law Office PLLC has been providing bankruptcy solutions for clients in Huntersville, Mooresville and Cornelius, North Carolina for over 10 years. The firm offers assistance in bankruptcies, real estate transactions, and general law practice, such as wills, civil law, and personal injury. If you are seeking the advice of a Bankruptcy Lawyer in Huntersville NC, and the surrounding areas, you can visit the website of the Lake Law Office.