As an Asheville bankruptcy lawyer, I speak about the costs of filing a bankruptcy case at every initial consultation. Part of figuring out a strategy to improve your financial situation is evaluating the costs of filing a bankruptcy case, and comparing those with the costs of not filing a case.
Are you currently making payments on any debts which will be discharged?
If so, part of our strategy may be to discontinue those payments and apply them to attorney fees. After a few months of not making minimum payments, you can end your liability on those debts permanently.
I stopped paying a long time ago. What other options do I have?
Sell property you own. Many clients have an old car sitting around that they have not been using, or a household item which could be sold on ebay or craigslist that has been sitting around and collecting dust.
Tax Refund. Most working people receive a tax refund. For many people, spending the refund money to get out of debt is a wise investment.
Friends and family. There is nothing wrong with borrowing money to pay for a bankruptcy case. Although those debts are technically discharged in most Chapter 7 cases, you can usually begin repaying your friends and family members soon after we have filed your case.
Chapter 13 Bankruptcy. The entire attorney fee does not need to be paid up front in a Chapter 13 case, and we can plan what payments you need to make prior to filing in order to improve cash flow when appropriate.
At an initial bankruptcy consultation, we will spend time figuring out the best strategy to budget for a bankrutpcy case if it will help improve your financial condition. Many clients need to wait several months before being ready to file a bankruptcy case after sitting down for an initial consultation. However, by sitting down early, we can alleviate stress immediately by putting together a solid financial plan.
For those of you in Western North Carolina, I would be pleased to sit down with you during a free, initial bankruptcy consultation.
*The information contained on this website is not intended and does not constitute the providing of any legal advice or any legal opinions or services to any user thereof. The information available on or through this web page is not intended and shall not be used as a substitute for the advice and consultation provided by an attorney. Any factual examples used to illustrate concepts are hypothetical and do not depict actual events or real persons.