Chapter 13 Attorney
Serving Wilson, Greenville, NC & the Surrounding Areas

If you do not qualify for Chapter 7 bankruptcy due to your income level or are concerned about losing your assets by filing, you may instead be interested in Chapter 13 bankruptcy. Chapter 13 bankruptcy provides an opportunity to pay off debts over the course of three to five years. This is in many ways closer to debt consolidation than to Chapter 7 bankruptcy, in which debts are wiped out entirely. It allows homeowners to prevent foreclosure, car repossession, and avoid having to surrender any of their property.

To file for Chapter 13, you must have a regular source of income, which is why it is often referred to as “wage earner” bankruptcy. For bankruptcy advice or to begin the filing process, we encourage you to put your trust in John G. Rhyne, Attorney At Law. Our knowledgeable Chapter 13 attorney is experienced in bankruptcy law and offers a variety of bankruptcy services for individuals and businesses in the Nashville, Elizabeth City, Rocky Mount, Kitty Hawk, Smithfield, Zebulon, Clayton, Wendell, Greenville, and Washington, NC areas. Reach out to our law firm today to discuss your situation and schedule an initial consultation!

With Chapter 13 bankruptcy, the restructuring of your debt will ensure that your budget is able to handle the required monthly payments. All debts will be grouped together and re-paid according to a plan supervised by a Chapter 13 trustee and the Bankruptcy Court. Over a pre-determined number of years, you will pay your creditors a specified amount based on several factors, including your ability to pay, the dollar amount owed, and the value of your assets. You will no longer have any direct contact with your creditors, however, and they will not be allowed to make collection attempts. It is critical that you earn enough to reasonably cover your level of debt or the courts may deny your case.