If you, like so many others, view bankruptcy in a negative light, it’s time for you to look more closely at what the process can actually do for you. While many associate it with financial instability, bankruptcy is actually an opportunity to eliminate debt and start fresh. Explore your debt-solving options in this light, and you’ll have a much easier time taking that first step out of financial frustration and into a place of security.

Is Bankruptcy Right for Me?

Asking this question is a great place to start. After all, bankruptcy is just one of many possibilities for clearing the debt out of your life. In order to determine whether it’s the best option for you, consider these crucial pieces of information:

Chapter 7 Bankruptcy

Chapter 7 is known as the "debt discharge" bankruptcy. This process, which can be completed in just a few months, involves wiping out most or all of your debt all at once. This is a popular option for people facing credit card debt, medical bills,  student loans, tax penalties, and similar debts.

Chapter 13 Bankruptcy

Whereas Chapter 7 is all about eliminating as much debt at once as possible, Chapter 13 is a useful tool for repaying your loans in order to hold onto things that are important for you. For instance, if you have substantial home equity (or no equity), if you’re behind on car payments, or you owe child support, setting up a Chapter 13 repayment plan can help you keep what’s important (like your home, car, and visitation rights).

Alternatives to Bankruptcy

If neither Chapter 7 or Chapter 13 seems right for your circumstance, there are a number of debt settlement agreements you and your attorney can explore. This is an option that makes sense for many debtors because it can allow them to find debt relief while preventing the stain of bankruptcy on their credit record.



What Else Should I Know About Bankruptcy?

Before you go making up your mind about which route to take, we’d like to share a few more tidbits about the bankruptcy process. Know that if you set up a free consultation with us, we’ll be happy to go through over each piece of information more thoroughly to ensure you understand all of your options:

  • Federal and State Exemptions: Most of our clients are surprised to learn how much they can keep as they undergo the bankruptcy process. These items (also known as “exemptions”) often include their home and their assets. In other words, filing for bankruptcy doesn’t mean losing everything you own.

  • Creditor Harassment: Many, many North Carolinians facing debt have to deal with creditor harassment. Give us a call, and we’ll talk to you about the advantages of using bankruptcy to put a stop to their obnoxious calls and threatening letters.

  • Bankruptcy Myths: There are countless myths out there that stop a lot of qualified bankruptcy candidates from applying. Explore the linked page to learn the truth about myths like “I’ll never get credit again if I have a bankruptcy on my record."

  • Solving Tax Problems Through Bankruptcy: You may have been told that taxes are non-dischargeable in bankruptcy. The truth on this subject is more nuanced than "yes" or "no." Discuss the particulars of your case with one of our Union County bankruptcy attorneys to get an affirmative answer on this.

Take That First Step

Living with debt puts a heavy weight on your shoulders. Contrary to popular belief, though, overcoming that debt doesn’t have to be tricky or overwhelming. Really, it’s just a matter of getting the information you need; getting the support you need; then putting a clear, legally recognized plan into action.

Once you’ve done that, the debt collectors will back off (or face your attorney’s wrath!), and you’ll be able to move forward with confidence, knowing that your debt is either paid in full (if you implemented Chapter 7) or gradually lessening (if you went the Chapter 13 route).

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.


At The Crow Law Firm, we’ll review each of the above topics with you — in detail — to ensure that you fully understand your rights when it comes to overcoming your debt. Even better, we’ll put our decades of experience to use to help you understand the best options for your specific situation. That way, you’ll be able to make informed, proactive decisions moving forward.