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If you’re wondering “how to handle bankruptcy in North Carolina” or “how to protect your assets during in North Carolina”. Trust in our expert team’s reputation for reliability, commitment, and compassion. Inflation, medical emergencies, or even loss of a job, can push a family into financial turmoil, leaving them overwhelmed by debt. In these situations, it’s common to feel like creditors are closing in from every side, threatening your home, car, or wages. You’re not alone–many individuals and families face these challenges, and finding a way out can seem impossible. For over 50 Years Stubbs & Perdue’s unwavering dedication to client success has transformed many financial setbacks into stories of recovery and hope. Navigating through bankruptcy can be tough, but with our seasoned expertise, it becomes a journey you don’t have to walk alone. Whether you’re looking to restructure debts, protect your home, or secure assets after facing financial struggles. Our team at Stubbs Perdue brings over 50 years of proven experience to the table. Recognized for our comprehensive understanding of the ins and outs of bankruptcy laws in North Carolina, we’re dedicated to providing personalized solutions tailored to your unique needs.
Chapter 7 Bankruptcy, often referred to as “liquidation” or “straight bankruptcy,” is a process designed to provide relief to individuals and businesses overwhelmed by debt. By filing for Chapter 7, debtors are able to liquidate their non-exempt assets through a bankruptcy trustee to pay off creditors. This form of bankruptcy is particularly suited for individuals who have limited income and are unable to repay their debts over time.
Chapter 13 involves a court-approved repayment plan. You will make a monthly plan payment to a court-appointed Trustee. The typical Chapter 13 plan lasts 3-5 years. You will receive a discharge after completion of the repayment plan. Chapter 13 may be preferred because it allows you to get caught-up on certain debts like your mortgage or car payment, repay priority debts like recent income taxes, and possibly modify or reduce certain loans such as your car loan. The monthly plan payment amount may vary depending on your specific circumstances and will be subject to the review of the Judge, Trustee, and creditors. Payments may be modified depending on your specific circumstances. fees and costs must be paid in advance but typically the majority of our attorney fees can be paid through the repayment plan.
There are many entities who exist in these services who take advantage of debtors who feel like they have run out of options At Stubbs & Perdue, our attorneys will guide you through these options to determine whether bankruptcy is the right plan for you.
Chapter 7 bankruptcy can provide a lifeline by allowing you to liquidate your assets and get a fresh start while stopping creditor actions immediately.
Are you feeling overwhelmed by debt, struggling to stay afloat, and wondering if there’s any way to move forward? You’re not alone. Many business owners just like you are facing similar financial crises—whether it’s mounting debts, declining sales, or the constant pressure from creditors.
For over 50 years, Stubbs & Perdue has helped North Carolina business owners navigate these challenging times. Let us help you explore your options and find a way forward that works for you and your business.
Chapter 7 Bankruptcy, often referred to as “liquidation” or “straight bankruptcy,” is a process designed to provide relief to individuals and businesses overwhelmed by debt. By filing for Chapter 7, debtors are able to liquidate their non-exempt assets through a bankruptcy trustee to pay off creditors. This form of bankruptcy is particularly suited for individuals who have limited income and are unable to repay their debts over time.
Chapter 13 bankruptcy offers a solution by allowing you to reorganize your debts into a manageable repayment plan. This option helps you keep your property while making affordable payments over time, giving you the breathing room you need to get back on track.
Are you struggling to keep up with your bills but want to avoid losing your home or other assets? Feeling overwhelmed by debt can be isolating, but you’re not alone. Many individuals in North Carolina are facing similar challenges, and there is a way to regain control of your finances.
For over 50 years, Stubbs & Perdue has been helping individuals throughout North Carolina protect their assets and find relief from overwhelming debt. Let us guide you through the Chapter 13 process and help you build a brighter financial future.
Chapter 13 involves a court-approved repayment plan. You will make a monthly plan payment to a court-appointed Trustee. The typical Chapter 13 plan lasts 3-5 years. You will receive a discharge after completion of the repayment plan. Chapter 13 may be preferred because it allows you to get caught-up on certain debts like your mortgage or car payment, repay priority debts like recent income taxes, and possibly modify or reduce certain loans such as your car loan. The monthly plan payment amount may vary depending on your specific circumstances and will be subject to the review of the Judge, Trustee, and creditors. Payments may be modified depending on your specific circumstances. fees and costs must be paid in advance but typically the majority of our attorney fees can be paid through the repayment plan.
Chapter 7 and Chapter 13 bankruptcy are two legal options available for individuals facing financial difficulties, but they cater to different situations:
Chapter 7 Bankruptcy: This is often referred to as “liquidation” bankruptcy. It’s designed for those who truly cannot afford to pay their debts. In Chapter 7, most unsecured debts like credit card bills and medical expenses can be wiped out. However, you might have to sell some of your property to pay off creditors. It’s a relatively quick process and can be completed within a few months.
Chapter 13 Bankruptcy: This is more like a reorganization and is often called “wage earner’s” bankruptcy. It’s meant for people with a regular income who can pay back at least a portion of their debts through a repayment plan. In Chapter 13, you get to keep all your property, including non-exempt assets. You’ll work out a plan to repay your debts over three to five years. It’s ideal for those who are behind on a mortgage or car loan and want to catch up on payments.
Many people feel stuck between ineffective debt relief programs and the fear of filing for bankruptcy. But bankruptcy might not be your only option—and when it is, it can offer powerful protections and relief that other solutions can’t.
At Stubbs & Perdue, our experienced attorneys can help you evaluate all your options. We work with you to understand your financial situation and identify the best path forward, whether that’s through bankruptcy or another form of debt relief. Our goal is to help you regain control of your finances while protecting your assets and your future.
The fundamental goal of bankruptcy law is to give debtors a “fresh start”. This is accomplished through the bankruptcy discharge which releases you from personal liability from certain debts and prohibits creditors from taking further action to collect those debts.
The attorneys at Stubbs & Perdue strongly believe in your ability to obtain a fresh start and will recommend the option that best suits your needs.
The attorneys at Stubbs & Perdue understand that filing for bankruptcy may be a difficult decision and the result of an unexpected life change. We will always do our best to provide a compassionate and caring approach while assisting our clients.
Most individuals chose to file a bankruptcy case under either Chapter 7 (liquidation) or Chapter 13 (wage earner plan).
There are occasions where Chapter 11 (reorganization) or Chapter 12 (family farmer or family fisherman) may be recommended for certain individuals but these options are commonly reserved for business cases.
The attorneys at Stubbs & Perdue will meet with you and discuss available case options. We will tailor our advice to your needs and present you with a recommended option so that you can make an informed decision.
Also known as the Meeting of Creditors, the 341 Meeting is where creditors may ask questions related to assets or any matter important to the administration of a bankruptcy case. The meeting is conducted by the trustee in Chapter 7, 12, and 13 and typically lasts less than 30 minutes.
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Stubbs Perdue has been a leader in the bankruptcy industry for over 50 years, helping small business owners, farmers, and individuals restructure their debts, save their businesses, and protect their assets after a financial setback. We have helped thousands of individuals and business owners navigate the bankruptcy process. We understand that financial problems often require a rapid response and are well versed in addressing your needs in a timely and cost-effective manner
At Stubbs & Perdue, we help our clients in North Carolina evaluate all bankruptcy and non-bankruptcy case options. We consider a number of factors including your income, assets, debts, and personal goals. We offer a comprehensive approach and provide our recommendation so that you can make an informed decision.
We want you to be well informed throughout the case. The following is general information and frequently asked questions we receive from clients.
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No information that you obtain from this website is legal advice, nor is it attended to be.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
You should consult with an Attorney for individualized advice regarding your own unique situation. No attorney-client relationship is formed between Stubbs & Perdue, P.A. and you by viewing this website.
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