North Carolina Bankruptcy Law Attorney
Are you struggling with overwhelming debt and feeling like there’s no way out? Our experienced bankruptcy law firm can help! Our North Carolina bankruptcy firm is dedicated to helping clients in Greensboro and High Point overcome their financial obstacles and start fresh.
Why Choose Us for Bankruptcy Law Advice?
Experienced: Throughout our many years of practice, if you are looking for a bankruptcy lawyer chapter 7 and bankruptcy lawyer Chapter 13 proceedings Cecil & Cecil, P.A. can help. We have provided detailed bankruptcy advice for clients from High Point, Thomasville, Archdale, Jamestown, Greensboro, Winston-Salem, Trinity, Sophia, and Lexington, N.C. We have helped clients save their homes, cars, retirement accounts, and other assets from creditors over the years.
- Personalized Service: We understand that every client’s situation is unique, and we offer personalized solutions to fit your needs.
Compassionate Support: Filing for bankruptcy can be a difficult and emotional experience, and we are committed to providing compassionate support throughout the process.
Results-Driven: Our goal is to help our clients achieve long-term financial stability and success.
- Bankruptcy Attorney for Business: If you need a bankruptcy lawyer in Greensboro, or High Point NC we can help with your personal and business bankruptcy concerns.
Learn more about Bankruptcy Law with the legal definitions below. Complete the quick form to the right and we will be in touch.
Our Services
Bankruptcy attorney Chapter 7: Also known as “liquidation” bankruptcy, Chapter 7 can help eliminate most unsecured debt, such as credit card debt and medical bills, within a few months.
Bankruptcy attorney Chapter 13:If you have a steady income but are struggling to keep up with debt payments, Chapter 13 can help you restructure your debts into a manageable payment plan.
Debt Settlement: Our team can negotiate with creditors on your behalf to help reduce your debt and reach a settlement that works for you.
Credit Counseling: We can provide you with resources and tools to help you establish healthy financial habits and avoid future debt problems.
Trustworthy Bankruptcy Attorney
Our bankruptcy lawyers will assess, analyze and address your specific bankruptcy situation in our initial free consultation. We will provide realistic estimates of the anticipated costs and specific bankruptcy needs concerning your direction forward. Complete our CLIENT REVIEW or CALL US TODAY to help with your financial bankruptcy stress.
Contact our Office Today!
Don’t wait to get your finances back on track. CALL US or complete a CLIENT REVIEW today to schedule a consultation with one of our experienced bankruptcy attorneys. Let us help you achieve a start free of your financial stress.
Bankruptcy can be a powerful tool for individuals and businesses struggling with overwhelming debt. However, it is important to understand the different types of bankruptcy, the legal definitions and terms involved, as well as the resources available for support and guidance. Consulting with a qualified bankruptcy attorney can help individuals navigate the process and achieve a fresh start financially.
Automatic Stay: An injunction that automatically stops all collection actions against a debtor, including lawsuits, foreclosures, garnishments, and repossessions.
Adversary Proceeding: A lawsuit filed within a bankruptcy case, typically dealing with disputes over dischargeability of debt or fraudulent transfers.
Adversary Proceeding: A lawsuit filed within a bankruptcy case, typically dealing with disputes over dischargeability of debt or fraudulent transfers.
Bankruptcy: The legal process by which an individual or a business declares that they are unable to pay their debts and seeks protection from creditors.
Bankruptcy Petition: A formal document submitted to the court by an individual or business declaring their inability to pay debts and seeking protection from creditors.
Bankruptcy Petition: A formal document submitted to the court by an individual or business declaring their inability to pay debts and seeking protection from creditors.
Creditor: A person, organization, or company to whom a debt is owed.
Chapter 7 Bankruptcy: Also known as “liquidation bankruptcy,” this is the most common form of bankruptcy where a debtor’s non-exempt assets are sold and the proceeds are used to pay off creditors.
Chapter 13 Bankruptcy: Also known as “reorganization bankruptcy,” this allows debtors to keep their property and pay off debts over a period of three to five years through a court-approved repayment plan.
Chapter 11 Bankruptcy: A bankruptcy option for businesses and individuals with high levels of debt, allowing them to restructure their debts while still maintaining control of their assets and operations.
Credit Counseling: A mandatory counseling session that must be completed by individuals before filing for bankruptcy.
Chapter 7 Bankruptcy: Also known as “liquidation bankruptcy,” this is the most common form of bankruptcy where a debtor’s non-exempt assets are sold and the proceeds are used to pay off creditors.
Chapter 13 Bankruptcy: Also known as “reorganization bankruptcy,” this allows debtors to keep their property and pay off debts over a period of three to five years through a court-approved repayment plan.
Chapter 11 Bankruptcy: A bankruptcy option for businesses and individuals with high levels of debt, allowing them to restructure their debts while still maintaining control of their assets and operations.
Credit Counseling: A mandatory counseling session that must be completed by individuals before filing for bankruptcy.
Debtor: An individual or business that owes money to another party.
Discharge: The release of a debtor from personal liability for certain debts after the completion of a bankruptcy case.
Discharge: The release of a debtor from personal liability for certain debts after the completion of a bankruptcy case.
Exemptions: Assets that are protected from being sold or liquidated during bankruptcy proceedings.
Fraudulent Transfer: A transfer of property made with the intent to defraud creditors, which may also be avoided or reversed by the court.
Joint Debtor: A person who files for bankruptcy jointly with their spouse or business partner.
Means Test: A calculation used to determine whether an individual or business qualifies for Chapter 7 bankruptcy by comparing their average monthly income to the state’s median income.
Non-dischargeable Debt: A debt that cannot be eliminated through bankruptcy, such as child support payments and most taxes.
Preferential Transfer: A transfer of property made to a creditor within 90 days before filing for bankruptcy, which may be avoided or reversed by the court if it is found to have been made in an attempt to favor one creditor over others.
Reaffirmation Agreement: A legal document that allows a debtor to keep their property by agreeing to continue paying off the debt even after bankruptcy proceedings are complete.
Secured Debt: A debt that is backed by collateral, such as a mortgage or car loan.
Secured Creditor: A creditor who holds a secured debt, such as a mortgage lender or car loan company.
Secured Creditor: A creditor who holds a secured debt, such as a mortgage lender or car loan company.
Trustee: An individual appointed by the court to manage and oversee a bankruptcy case.
Unsecured Debt: A debt that is not backed by collateral, such as credit card debt or medical bills.
Unsecured Creditor: A creditor who does not hold any collateral for the debt, such as credit card companies and medical providers.
Unsecured Creditor: A creditor who does not hold any collateral for the debt, such as credit card companies and medical providers.
Voluntary Petition: A bankruptcy petition that is filed by the debtor themselves, as opposed to an involuntary petition which may be filed by creditors.
LawHelpNC.org: Consumer: What is Bankruptcy?
NCDOR: Bankruptcy Frequently Asked Questions
U.S. Bankruptcy Court, Middle District of North Carolina: Bankruptcy Basics
U.S. Department of Justice: Bankruptcy Information Sheet