Chapter 13 Raleigh Bankruptcy Lawyer | Reorganization Attorneys in Raleigh
Chapter 13 Bankruptcy is referred to as a “reorganization” bankruptcy. This type of bankruptcy is similar to a debt consolidation plan and normally takes several years to complete before you receive a bankruptcy discharge (debt forgiveness). In a Raleigh Ch. 13 bankruptcy, you will make payments to the Chapter 13 Trustee who will then make payments to your creditors pursuant to a plan you proposed and had approved by the Raleigh Bankruptcy Court.
Your personal debts will mostly be made up of "secured" and "unsecured" debts. The bankruptcy code handles them differently. In a Wake County Ch. 13 bankruptcy, you can choose to continue to make payments on "secured" debts for property that you want to keep.
Examples of typical Wake County businesses where you might have entered into a "secured" loan agreement include:
Mortgages:
Capitol National Bank
12 South Person Street Raleigh, NC 27611
CapStone Bank
4505 Falls Of The Neuse Road, Suite 150 Raleigh, NC 27609
Harley-Davidson Dealers
Ray Price Harley-Davidson
1126 South Saunders Street, Raleigh, NC 27603
(919) 832-2261
Shelton's Harley-Davidson of Durham
300 Muldee Street, Durham, NC 27703
(919) 596-9511
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Car Loans:
Johnson Lexus Of Raleigh
5839 Capital Boulevard, Raleigh, NC 27616
(919) 877-1800
Chrysler By David O'Neal
5500 Capital Boulevard, Raleigh, NC 27616
(919) 872-5500
Jewelry Stores:
Bailey's Fine Jewelry
415 Daniels Street, Raleigh, NC 27605
(919) 829-7337
National Fine Jewelry
2751 Capital Boulevard, Raleigh, NC 27604
(919) 790-8080
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When you file Chapter 13 bankruptcy in Raleigh, you have the option to "surrender" secured property and owe nothing on it. When you surrender property in a bankruptcy case, you will not incur the same tax liability that you might incur if you return property to a creditor outside of bankruptcy.
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There is no means test for chapter 13 like you have to pass to qualify for Ch. 7 bankruptcy. There will be a calculation of your 'disposable income' which will influence how much is paid to all of your creditors, including "unsecured" creditors. There is also a "liquidation test" required in order to qualify for a Chapter 13 bankruptcy. This basically requires that unsecured creditors receive more from the debtor in a Chapter 13 case than they would have in a Chapter 7 case. Your Raleigh Bankruptcy Lawyer will examine these calculations for you and provide you with advice about the chapter(s) for which you will qualify.
Examples of Raleigh area businesses where you pay by credit card or open a credit line and incur "unsecured" debts:
Shopping Malls
Town & Country Center
800 W Sam Raleigh PKWY N, Raleigh, NC 77024-3934
(713) 468-1171
River Oaks Shopping Center
1464 W Gray ST, Raleigh, NC
(713) 528-4191
Westbuy Square
601 Westbury Square, Raleigh, NC 77035-2700
(713) 723-2550
Cell Phones:
Sprint5
608 W Hargett Street, Raleigh, NC 27603
(919) 828-792
Verizon Wireless
8311 Brier Creek Parkway Suite 107, Raleigh, NC 27617
(919) 544-4000
T-Mobile
424 E Six Forks Road, Raleigh, NC 27609
(919) 828-0878
AT&T
3501 Capital Boulevard Suite 105, Raleigh, NC 27604
(919) 878-8100
Alltel
1527 Garner Station Boulevard, Raleigh, NC 27603
(919) 235-0005
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Some of America's Favorite Stores:
Sears
4601 Glenwood Avenue, Raleigh, NC 27612
(919) 781-4597
The Home Depot
9517 Strickland Road, Raleigh, NC 27615
(919) 844-7418
Kmart
6200 Capital Boulevard, Raleigh, NC 27616
(919) 872-5435
Best Buy
6101 Capital Boulevard, Raleigh, NC 27616
(919) 876-1003
Lowe's Foods
8100 Brier Creek Parkway, Raleigh, NC 27617
(919) 293-0294
Restaurants:
Milton's Pizza & Pasta
14520 New Falls Of Neuse Road, Raleigh, NC 27614
(919) 570-9099
Edwards Mill Bar & Grill
3201-153 Edwards Mill Road, Raleigh, NC 27610
(919) 783-5447
Margaux's Restaurant
8111 Creedmoor Road, Raleigh, NC 27613
(919) 846-9846
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It is possible that some of your purchases from these business might actually be secured debts instead of unsecured debts. Your Raleigh Chapter 13 Bankruptcy Lawyer will review your debts and help you identify what is secured and what is unsecured.
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Depending on your personal debt and financial circumstances, there are advantages to filing a chapter 13 bankruptcy in the North Carolina Bankruptcy Court. While both chapter 7 and chapter 13 bankruptcies allow you to reaffirm your secured debts and continue making payments, Ch. 13 also has the advantage of letting you catch up on past due payments by spreading them over several years. This can include late payments for your mortgage, car loans, and even taxes! Your Raleigh Bankruptcy Attorney will give you the information on bankruptcy so you understand the advantages of Ch. 13 bankruptcy.
North Carolina Mortgage and Foreclosure Lawyer
If you're behind on your mortgage payments, you have regular income, and want to keep your house, a chapter 13 bankruptcy might be the right answer. A chapter 13 bankruptcy will allow you to spread your past due mortgage payments over 3 to 5 years and consolidate some of your other bills as well.
Prior to bankruptcy, you might have difficulty getting your mortgage company or bank to discuss a loan modification or payment plan with you. As soon as you file bankruptcy, not only does your mortgage company or bank have to stop foreclosure proceedings, but they will be required to communicate with your Raleigh Ch. 13 Bankruptcy Law Firm to discuss options for resolving your mortgage delinquencies.
Information about mortgages and mortgage payments is available by visiting the FTC's website.
Remember, you may live in any of these neighborhoods in Raleigh, but mortgage trouble and foreclosures exist in all of them and shows no preference.
Raleigh Neighborhoods
Durant neighborhood
Dutchman Creek neighborhood
Dutchman Downs neighborhood
Duxbury Woods at Braeloch neighborhood
Duxford neighborhood
Dylan Court Townhomes neighborhood
Eagle Creek neighborhood
Eagle Mountain neighborhood
Eagle Point neighborhood
Eagle Ridge neighborhood
Earle Ridge neighborhood
East Gateway neighborhood
East Glendower Place neighborhood
East Raleigh neighborhood
Eastgate neighborhood
Eastwinds at Pinecrest neighborhood
Eastwood neighborhood
Ebenezer Church Road Townhomes neighborhood
Ebenezer Park neighborhood
Echo Heights neighborhood
Eden Croft neighborhood
Eden Forest neighborhood
Edgemont neighborhood
Edgewater Townhomes neighborhood
Edgewater at Rogers Farm neighborhood
Edgewood neighborhood
Edinburg Park neighborhood
Edmund St neighborhood
Edward Mill neighborhood
Edwards Mill neighborhood
Egerton neighborhood
Ellington Place neighborhood
Emerald Chase neighborhood
Emerald Point neighborhood
Emerald Village neighborhood
Enchanted Oaks neighborhood
Enclave at Bentley Ridge neighborhood
Enclave at Forestville Farms neighborhood
Enclave at Inman Park neighborhood
Ernestine Glenn neighborhood
Estates of Harrington Grove neighborhood
Ethans Gate neighborhood
Ethans Glen neighborhood
Evans Mill neighborhood
Evans Pines neighborhood
Evian Heights at Heron Park neighborhood
Faircroft neighborhood
Fairfax neighborhood
Fairfield neighborhood
Fairground Park neighborhood
Fairmont neighborhood
Fairview neighborhood
Fairview Acres neighborhood
Fairview Hills neighborhood
Fairview Park neighborhood
Fairview at Wakefield Plantati neighborhood
Fairway Acres neighborhood
Fairway North neighborhood
Fairway Ridge neighborhood
Falcon Ridge neighborhood
Fallon Oaks neighborhood
Falls Church neighborhood
Falls Commons Townhomes neighborhood
Falls Glen neighborhood
Falls Ridge West neighborhood
Falls River neighborhood
Falls Run neighborhood
Falls View neighborhood
Falls Village Townhomes neighborhood
Farmdale Acres neighborhood
Farmington Woods neighborhood
Farmridge neighborhood
Farmwood Acres neighborhood
Farrington Grove Townhomes neighborhood
Farrior Hills neighborhood
Fashion Homes neighborhood
Fayetteville Street neighborhood
Fellers Pond neighborhood
Fernwood neighborhood
Field Ridge neighborhood
Fieldcross at Eaglechase neighborhood
Fieldstone Crossing neighborhood
Fieldstream Farm neighborhood
Finland neighborhood
Finley Crest neighborhood
Five Points Village neighborhood
Flythe Hills neighborhood
Forest Acres neighborhood
Forest Creek neighborhood
Forest Glen neighborhood
Forest Hills neighborhood
Forest Ridge neighborhood
Forest Trail Estates neighborhood
Forest at Victory Church neighborhood
Forestbrook neighborhood
Forestville Farms neighborhood
Fox Den North neighborhood
Fox Glen neighborhood
Fox Haven neighborhood
Fox Hill neighborhood
Fox Hollow neighborhood
Fox Run neighborhood
Foxcroft neighborhood
Foxfire neighborhood
Foxmoor neighborhood
Franklin Manor neighborhood
Freman Tract neighborhood
French Drive neighborhood
Fuller Heights neighborhood
Gadland Court Townhomes neighborhood
Garden Acres neighborhood
Gardens of Alyson Pond neighborhood
Gardner Place neighborhood
Garland Road Townhomes neighborhood
Garner Glen neighborhood
Garner Place neighborhood
Gatewood neighborhood
Gentle Slope neighborhood
Georgetown neighborhood
Glade at Harrington Grove neighborhood
Glascock Street neighborhood
Glen Barton neighborhood
Glen Eden neighborhood
Glen Forest neighborhood
Glen Lake neighborhood
Glen Meadows neighborhood
Glen Stone at Wakefield Plantation neighborhood
Glen Valley neighborhood
Glen at Harrington Grove neighborhood
Glenanneve Place neighborhood
Glendale Acres neighborhood
Glenlake Gardens neighborhood
Glenoe on Ferry neighborhood
Glens at Riverside Townhomes neighborhood
Glenwood neighborhood
Glenwood Crossing neighborhood
Glenwood Forest neighborhood
Glenwood South neighborhood
Glenwood Station neighborhood
Glosson Estates neighborhood
Gloucester Townhomes neighborhood
Golden Forest neighborhood
Goode-Branch Townhomes neighborhood
Gorman (Burt) neighborhood
Governors Point Towhomes neighborhood
Governors Townes neighborhood
Graceland Court neighborhood
Graedon neighborhood
Granite Ridge neighborhood
Grayson neighborhood
Green Acres neighborhood
Green Valley neighborhood
Greenbelt neighborhood
Greenbriar neighborhood
Greenbrier Townhomes neighborhood
Greenbrook Farms neighborhood
Greenbrook Park neighborhood
Greencastle neighborhood
Greenfield neighborhood
Greenfield Manor neighborhood
Greenpark Towns neighborhood
Greenview Bluffs neighborhood
Greenwood Farms neighborhood
Gresham Hills neighborhood
Gresham Trace neighborhood
Grey neighborhood
Greystar Plantation Point neighborhood
Greystone Manor neighborhood
Greystone Park neighborhood
Greythorne neighborhood
Greywalls at Trego neighborhood
Griffis Glen neighborhood
Grove neighborhood
Grove Park neighborhood
Grove Park Townhomes neighborhood
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The Fields neighborhood
The Gates at Ethans Glen neighborhood
The Glen at Spring Forest neighborhood
The Hamptons at Umstead neighborhood
The Haywood neighborhood
The Highland at Falls Lake neighborhood
The Meadows at Long Lake neighborhood
The Oaks at Meadowridge neighborhood
The Oaks at Westlake neighborhood
The Oberlin neighborhood
The Overlook neighborhood
The Park at Macon Ridge neighborhood
The Pines neighborhood
The Point at Lemuel neighborhood
The Preserve at Longbranch Farms neighborhood
The Reserve At Umstead neighborhood
The Ridges of Maybrook neighborhood
The Sanctuary neighborhood
The Springs at Greystone neighborhood
The Streams at Field Townhomes neighborhood
The Townes at Crabtree neighborhood
The Views neighborhood
The Villas at Millbrook neighborhood
The Vineyard neighborhood
Thistledown neighborhood
Thornton Commons Townhomes neighborhood
Thornton Place neighborhood
Thornton Square Townhomes neighborhood
Thorpshire Farm neighborhood
Tilden Park neighborhood
Tillett Wheeler Townhomes neighborhood
Timber Oaks neighborhood
Timberlake Estates neighborhood
Timberline North neighborhood
Tischer Road Townhomes neighborhood
Torry Hill neighborhood
Tower Villas neighborhood
Townedge Place neighborhood
Townes At Umstead Park neighborhood
Townes of Southgate neighborhood
Tradewinds neighborhood
Traemoor neighborhood
Trails Corner neighborhood
Trailside Commons neighborhood
Trailwood neighborhood
Trappers Creek neighborhood
Trawick Downs neighborhood
Trawick Road neighborhood
Trego neighborhood
Trenton neighborhood
Tri-City neighborhood
Triangle Townhomes at Fox Road neighborhood
Trilliums Place neighborhood
Trinity Circle neighborhood
Trinity Farms neighborhood
Trinity Grove neighborhood
Trinity Square neighborhood
Trinity Woods neighborhood
Trotters Ridge neighborhood
Tryon Pines neighborhood
Tryon Place neighborhood
Tryon Place Townhomes neighborhood
Tupper neighborhood
Turnberry neighborhood
Turner Downs neighborhood
Turner Weeks neighborhood
Turners Alley neighborhood
Tuscan Estates neighborhood
Tuscan Hills neighborhood
Tuscan Lake neighborhood
Tuscany Townhomes neighborhood
Twin Lakes neighborhood
Two Courts neighborhood
Two Minor neighborhood
Tyler Farms neighborhood
Ujamaa neighborhood
Ulice Williams neighborhood
Umstead neighborhood
Underwood Farms neighborhood
University Suites neighborhood
Upchurch Farms neighborhood
Upper Buncombe neighborhood
Upper Forty Estates neighborhood
Vale at Harrington Grove neighborhood
Valley Cove neighborhood
Valley Crest neighborhood
Valley Estates neighborhood
Valley Lake at Greystone neighborhood
Valley Ridge neighborhood
Valley Springs neighborhood
Valley Stream neighborhood
Vanguard Park neighborhood
Varsity Place neighborhood
Vestavia Woods neighborhood
Victoria Park Townhomes neighborhood
Victoria Place neighborhood
Victory Church neighborhood
Villa Park neighborhood
Village Gate neighborhood
Village Glenn neighborhood
Village Grove neighborhood
Village Lakes neighborhood
Village at Beacon Hill neighborhood
Village at Harrington Grove neighborhood
Village at New Hope Townhomes neighborhood
Village at Pinecrest neighborhood
Village at Wakefield Parkside neighborhood
Village at Westgate neighborhood
Village of Fox Run neighborhood
Village of Iverrary neighborhood
Village of Oxford Park neighborhood
Village of Tryon neighborhood
Village of West Pines neighborhood
Village on The Green neighborhood
Villages of Swift Creek neighborhood
Vinyards Townhomes neighborhood
Waco Business Park neighborhood
Waco Heights neighborhood
Wake Hills neighborhood
Wakebrook Estates neighborhood
Wakefield Plantation neighborhood
Walnut Bluffs neighborhood
Walnut Ridge neighborhood
Warner Place Townhomes neighborhood
Washington Heights neighborhood
Watauga Street neighborhood
Waterford Landing neighborhood
Waverly Point neighborhood
Wayland Heights neighborhood
Wayne Timberlake Lots neighborhood
Wayneridge neighborhood
Weatherby Villas neighborhood
Weathers neighborhood
Weathersfield Place Towhhomes neighborhood
Wedgefield neighborhood
Wedges at Greystone neighborhood
Weldon Ridge neighborhood
Wellington Commons neighborhood
Wentworth Park neighborhood
Wesley Woods neighborhood
Weslyn neighborhood
West Estates neighborhood
West Glendower Place neighborhood
West Lake Townhomes neighborhood
West Oak Townhomes neighborhood
West Parkland neighborhood
West Side neighborhood
Westavia neighborhood
Westborough neighborhood
Westbrook North neighborhood
Tadlock Landings neighborhood
Tall Oaks neighborhood
Tall Tree neighborhood
Talon Ridge at Eaglechase neighborhood
Tamarack neighborhood
Tanbark Woods neighborhood
Tanglewild neighborhood
Tanglewood neighborhood
Tatton Place neighborhood
Tavernier neighborhood
Taylors Creek at The Neuse neighborhood
Taylors Woods neighborhood
Tazwell Place neighborhood
Tealbriar neighborhood
Tealbrook neighborhood
Telluride neighborhood
Temple Street neighborhood
Tennyson Place neighborhood
Terrace Park neighborhood
Terrington neighborhood
The Acorns Townhomes neighborhood
The Bluffs neighborhood
The Brooks at Maybrook Crossings neighborhood
The Cascades neighborhood
The Commons at Sandy Forks neighborhood
The Cove at Long Lake neighborhood
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Many people avoid filing for bankruptcy because they are concerned about the stigma of going bankrupt. But filing bankruptcy can provide the financial help you need to get out of debt. Let a Raleigh Ch. 13 Bankruptcy Attorney show you to to deal with your financial problems and get debt relief.
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The Chapter 13 Plan
The main element of a Chapter 13 Bankruptcy is the Plan. An experienced Wake County Bankruptcy Attorney will work with you to calculate all the debts that will be paid in the plan, plus the trustee's fee, attorney's fees, and applicable interest. All of this information is included in your proposed Chapter 13 Plan and submitted to the Bankruptcy Court for approval.
A confirmation hearing will be held. The trustee and/or some of the creditors may object to the plan. Most of these negotiations will take place prior to the confirmation hearing; your Raleigh Bankruptcy Lawyer will negotiate on your behalf with the Trustee and the creditors to formulate a plan that will not be objected to by them. You will likely have to modify your original proposed plan.
The bankruptcy judge will have the final say as to whether or not your proposed plan is confirmed, even if there are still objections. A confirmed plan will bind the debtor and each creditor to payment plan set forth in the plan. Chapter 13 plans usually run from 36 to 60 months. At such time as a debtor has made all payments required under the plan and fulfilled all other obligations set forth in the plan, the court will grant a discharge to the debtor of all debts (as provided for in the plan).
There are many circumstances that can arise during the three to five years of a Chapter 13 plan: job loss, job promotion, marriage, divorce, new children, grown children going to college, etc. Chapter 13 plans can be modified during the course of the plan. Your Raleigh Bankruptcy Lawyer will advise and assist you as these life situations occur.
Raleigh Debt Relief Lawyers serve the Wake County and Surrounding Areas
Serving clients throughout Central North Carolina, including Anderson Creek, Apex, Burlington, Cary, Clayton, Dunn, Durham, Franklinton, Fuquay-Varina, Goldsboro, Graham, Greensboro, Greenville, Henderson, Hillsborough, Holly Springs, Kinston, Leesville, Louisburg, Mebane, Mountain View, Oxford, Pittsboro, Raleigh, Rocky Mount, Roxboro, Sanford, Selma, Siler City, Smithfield, Spring Hope, Stoney Creek, Wake Forest, Wilson, Zebulon, areas in the vicinity of Raleigh-Durham International Airport, and other communities in Wake County.
Contact a Raleigh Chapter 13 Bankruptcy Attorney for a free initial consultation.Lunda Wayland Young neighborhood
Lyndhurst Manor neighborhood
Lynn Pointe neighborhood
Lynn Ridge Townhomes neighborhood
