Consumer Bankruptcy

Winston-Salem Consumer Bankruptcy Law Attorneys

The consumer bankruptcy lawyers at Allman Spry Leggett & Crumpler represent individuals in consumer bankruptcy proceedings. We offer valuable advice, counseling and representation to debtors in both Chapter 7 and Chapter 13 proceedings.

Bankruptcy laws were created to help honest, respectable, hard-working individuals receive a “fresh start” when events such as job loss, medical catastrophe, divorce, death in the family, or unmanageable credit obligations make repayment impossible in the foreseeable future.

Bankruptcy is a complex area of the law and no two bankruptcy cases are identical. Our lawyers have the necessary experience in bankruptcy law to provide a detailed analysis to each fact-specific situation to help protect the client’s assets while discharging liabilities. Our attorneys assess each case with an eye toward discovering the favorable and unfavorable consequences associated with the filing of a bankruptcy petition under either Chapter 7 or Chapter 13. At Allman Spry Leggett & Crumpler, we care for our clients on a personal level, and we help our clients weigh their options to make the best possible decision regarding their financial futures.

Under a Chapter 7 bankruptcy, a debtor may exempt from liquidation by the Chapter 7 Trustee a statutory amount of equity in certain property. The amount and type of property that may be exempted is dependent upon the applicable exemption statutes, but typically, equity in a residence, household goods, jewelry, clothing, vehicles, tools of the trade, insurance policies, and pensions or retirement accounts may be exempted. Many Chapter 7 cases are deemed “no asset” cases, which means there is no property for the Trustee to liquidate. In these cases, a debtor will receive a discharge of liabilities while keeping exemptable assets and the case will be closed—all in a span of a few months. But note, bankruptcy does not discharge certain obligations, including certain tax obligations, most student loans, alimony, child support, other domestic support obligations, criminal fines or penalties, and restitution debts.

Under a Chapter 13 bankruptcy, debtors are often able to protect their homes from foreclosure and their vehicles from repossession. In a Chapter 13 case, our attorneys will prepare a feasible repayment plan to suit each client’s individual needs and allow the client to repay a certain percentage of debt over a three or five year period before receiving a discharge. Many Chapter 13 plans can be used to accommodate debtors in restructuring tax debt, protecting co-debtors, and maintaining valuable property when the debtor’s equity in property exceeds the statutory exemption amount.

We are a Debt Relief Agency under the United States Bankruptcy Laws. We assist people with finding solutions to their debt problems, including, where appropriate, assisting them with the filing of petitions for relief under the Bankruptcy Code.

For more information, contact the consumer bankruptcy law attorneys at Allman Spry Leggett & Crumpler. We serve clients in the Winston-Salem-Greensboro-High Point Piedmont Triad area and throughout North Carolina.