Over 100 5-Star Google Reviews!

(click here to go to our Google Reviews)

(Over 20 years with NO complaints – click here to go to our BBB® page)

Sheree is in the Top 3.9% of ALL Bankruptcy Attorneys. Nationwide (click here to go to NC Bar)

Voted Top Bankruptcy Lawyer in Raleigh for 2022, 2023, & 2024
(Click Link)

Bankruptcy In Durham, NC

Bankruptcy in Durham, NC
Cameron Bankruptcy Law
(919) 627-7748

Filing bankruptcy in Durham, NC for over 20 years!

Bankruptcy Durham, NC

Credit Card Debt

Medical Debt

Harassed by Creditors

Foreclosure

Repossession

How We Are Different than Other Bankruptcy Lawyers in Durham, NC?

Raleigh Bankruptcy Raleigh

(click here to go to our bankruptcy Durham NC Google Reviews)

Bankruptcy Law Firm BBB Rating

(nearly 20 years with NO complaints – click here to go to our BBB® page)

Bankruptcy Book Bankruptcy Lawyer Durham NC

Sheree Literally Wrote the Book on Bankruptcy. (click here to download)

Best Durham NC Bankruptcy Lawyer

Sheree is in the Top 3.9% of ALL Bankruptcy Attorneys. Nationwide (click here to go to NC Bar)

Bankruptcy Lowest Price

We Will BEAT or Match Any Price, Guaranteed for bankruptcy Durham NC.

Good Credit Score

Kerry Will Help You Get a 740+ Credit Score after bankruptcy Durham NC.

Bankruptcy Lawyer Durham NC with husband

Sheree & Kerry - a Family Run Law Firm

Stop Harassing Phone Calls Bankruptcy Durham NC

Open 7 Days a Week (10 am-10 pm)

easy Payment Plan for Bankruptcy Durham NC

Easy Payment Plans - Bankruptcy Attorney in Durham, NC

money-back-guarantee Bankruptcy in Durham NC

Two Bankruptcy Money-Back-Guarantees

Bankruptcy in Durham, NC: A Fresh Start with Debt Relief

Introduction to Bankruptcy in Durham, NC

Living with overwhelming debt can feel stressful and uncertain. If you’re struggling with finances and looking for solutions, bankruptcy in Durham, NC may offer the relief you need. Cameron Bankruptcy Law is here to guide you through the process, ensuring you understand all your options for managing debt and building a stable future. This guide will walk you through types of bankruptcy, eligibility, the filing process, life after bankruptcy, and alternatives to bankruptcy.


Understanding Bankruptcy and Debt Relief in Durham, NC

What is Bankruptcy?

Bankruptcy is a legal option that provides relief to those overwhelmed by debt. It offers ways to either discharge debts or reorganize them into manageable payments. At Cameron Bankruptcy Law, we help people facing financial struggles find a pathway to stability, whether that’s through a Chapter 7 liquidation plan or a Chapter 13 reorganization. This section will cover the basics of bankruptcy in Durham, NC and answer common questions you may have.


Benefits of Filing for Bankruptcy in Durham, NC

Filing for bankruptcy in Durham, NC can stop creditors from harassing you, end wage garnishments, and even prevent foreclosure on your home. The automatic stay is one of the key benefits of bankruptcy, as it provides immediate relief from collection activities, allowing you time and space to assess your financial situation.

Working with a bankruptcy attorney in Durham, NC at Cameron Bankruptcy Law can help you make the right choice for your unique financial situation. Filing for bankruptcy not only stops creditor calls but also helps you keep essential assets and protects you from aggressive collection tactics.


Types of Bankruptcy in Durham, NC: Chapter 7 and Chapter 13

Chapter 7 Bankruptcy: The “Clean Slate” Option

Chapter 7 bankruptcy, often called “liquidation bankruptcy,” is designed for individuals who want to discharge most of their unsecured debts, like medical bills, credit card debt, and certain loans. In Chapter 7 bankruptcy in Durham, NC, qualifying individuals can eliminate these debts and get a fresh start.

Chapter 7 Bankruptcy Eligibility

To qualify for Chapter 7, you must pass a means test. This test compares your income to North Carolina’s median income. If your income falls below the state median, you’ll likely qualify. Cameron Bankruptcy Law can guide you through this process, ensuring every detail is covered.


Chapter 13 Bankruptcy: The Repayment Plan Option

Chapter 13 bankruptcy is perfect for those with a steady income who wish to retain essential assets, such as a home or vehicle. It’s often called the “wage earner’s plan” because it allows you to set up a repayment plan over three to five years. During this time, you make regular payments based on your income, keeping your assets secure.

Chapter 13 Benefits for Debt Relief in Durham, NC

In Chapter 13 bankruptcy, you can prevent foreclosure and repossession while repaying your debt at a manageable rate. The team at Cameron Bankruptcy Law will create a customized plan, considering your unique income and expenses, to help you regain control over your finances.


Choosing Between Chapter 7 and Chapter 13 Bankruptcy

Deciding which type of bankruptcy best suits your needs can be challenging. Chapter 7 provides faster relief, while Chapter 13 allows you to keep significant assets. A bankruptcy attorney in Durham, NC can help you weigh the pros and cons of each option. Cameron Bankruptcy Law will review your financial situation and guide you toward the solution that aligns with your goals.


Eligibility for Bankruptcy in Durham, NC

Understanding the Means Test for Chapter 7 Bankruptcy

The means test determines whether you qualify for Chapter 7. It compares your income to North Carolina’s median income and considers your essential expenses, like housing and healthcare. If you pass the means test, you’re eligible for Chapter 7. If not, Chapter 13 might be a better fit. Debt relief in Durham, NC is possible through either option, and Cameron Bankruptcy Law will help you navigate the eligibility requirements.


The Step-by-Step Bankruptcy Process

Step 1: Initial Consultation with a Bankruptcy Lawyer in Durham, NC

The first step in the bankruptcy process is an initial consultation with Cameron Bankruptcy Law. We’ll discuss your financial situation and evaluate whether bankruptcy is the right choice. During this consultation, you’ll have a chance to ask questions and learn about alternative debt relief options in Durham, NC.

Step 2: Pre-Bankruptcy Credit Counseling

Before filing, you’re required to complete a credit counseling course. This course covers budgeting and debt management strategies, helping you understand alternatives to bankruptcy. Your bankruptcy attorney in Durham, NC will recommend a trusted provider for this mandatory step.


Step 3: Filing the Bankruptcy Petition

After completing credit counseling, it’s time to file your bankruptcy petition. This document includes your income, assets, and debts. Filing the petition triggers the automatic stay, halting creditor actions. At Cameron Bankruptcy Law, our experienced bankruptcy lawyers in Durham, NC will ensure your petition is complete and accurate.


Step 4: The 341 Meeting (Meeting of Creditors)

About a month after filing, you’ll attend a 341 meeting, or Meeting of Creditors. During this meeting, creditors may ask questions, though they rarely attend. The trustee, however, will review your financial information to confirm its accuracy. Your bankruptcy lawyer in Durham, NC will prepare you for this step, ensuring you feel confident.

Step 5: Repayment Plan Approval (Chapter 13) or Asset Liquidation (Chapter 7)

For Chapter 13 cases, your lawyer will submit a repayment plan for court approval. In Chapter 7, any non-exempt assets may be liquidated, though most essential property is protected. Cameron Bankruptcy Law will help you navigate this step, ensuring you retain what’s essential.


Step 6: Financial Management Course

Before discharging debts, you must complete a financial management course covering budgeting and financial planning. This course helps you develop skills to manage finances after bankruptcy. Cameron Bankruptcy Law will assist you in finding a qualified provider for this requirement.


Step 7: Discharge of Debts

The final step is the debt discharge, meaning you’re no longer legally obligated to repay qualifying debts. Cameron Bankruptcy Law ensures all eligible debts are included, maximizing your financial relief and helping you make a fresh start.


Handling Different Types of Debt in Bankruptcy

Medical Debt

Medical debt is one of the most common reasons people file for bankruptcy. Fortunately, it’s typically dischargeable, providing relief to those facing high healthcare costs. Bankruptcy in Durham, NC offers a way to eliminate medical bills, freeing you from this burden.

Credit Card Debt and Personal Loans

Credit card and personal loans are unsecured debts, meaning they’re generally dischargeable in Chapter 7 and included in Chapter 13 repayment plans.

Student Loans

While student loans are more challenging to discharge, your attorney can help explore debt relief options specific to student loans.

Tax Debt

Older tax debts may be dischargeable if they meet certain criteria, though recent tax obligations are usually non-dischargeable. Consulting a bankruptcy lawyer in Durham, NC helps you understand your options.


Life After Bankruptcy: Rebuilding Your Financial Future in Durham, NC

Filing for bankruptcy in Durham, NC is a powerful first step, but the journey to financial health continues beyond the filing process. Here’s how Cameron Bankruptcy Law supports clients in rebuilding after bankruptcy.

Rebuilding Credit with a Secured Credit Card

One of the best tools for rebuilding credit is a secured credit card. Using it responsibly—by only charging what you can afford and paying it off monthly—helps demonstrate responsible credit behavior.


Creating a Budget

Creating a realistic budget is essential for managing finances after bankruptcy. Prioritize essentials like housing, utilities, and food. A budget helps you stay on track and avoid falling back into debt.


Building an Emergency Fund

An emergency fund is critical for preventing future financial stress. Start by saving small amounts until you have enough to cover three to six months of expenses. This buffer can help you avoid using credit for unexpected costs.


Setting Financial Goals

Setting specific, achievable goals—like saving for a down payment or planning for retirement—keeps you motivated. With help from Cameron Bankruptcy Law, you can create a roadmap to achieve these goals, helping you rebuild your financial stability.


Myth 1: Filing for Bankruptcy in Durham, NC Means Losing Everything

A common myth about bankruptcy in Durham, NC is that it means giving up all your assets. In reality, bankruptcy laws are designed to help people regain stability, not take everything away. North Carolina has specific exemption laws that allow individuals to keep essential assets, such as a home, car, and personal belongings. Speaking with a knowledgeable bankruptcy attorney in Durham, NC at Cameron Bankruptcy Law will help you understand which assets are protected, so you can feel secure about your future.

Key Point: North Carolina’s exemptions allow you to protect important assets, providing a path to financial freedom without losing everything.


Myth 2: Bankruptcy Permanently Ruins Your Credit

Another myth about filing for bankruptcy in Durham, NC is that it permanently damages your credit. While bankruptcy does impact credit initially, it does not ruin it forever. Many people who file for bankruptcy find that they can rebuild their credit within a few years. With debt relief in Durham, NC through bankruptcy, individuals often find that their credit improves once debt obligations are managed, giving them a chance to start fresh.

At Cameron Bankruptcy Law, we offer advice on how to rebuild credit, whether that’s through secured credit cards, responsible budgeting, or regular monitoring of credit scores. Your bankruptcy lawyer in Durham, NC will help you find the best ways to establish a positive financial history post-bankruptcy.


Myth 3: Bankruptcy in Durham, NC, Is Only for Irresponsible People

Many believe that only those who mismanage money need bankruptcy, but this is far from true. Often, individuals face bankruptcy in Durham, NC due to unexpected situations like job loss, medical bills, or divorce. Bankruptcy is a legal avenue for debt relief in Durham, NC that helps individuals regain control over their finances and start fresh, regardless of the circumstances that led them there. Working with a compassionate bankruptcy lawyer in Durham, NC at Cameron Bankruptcy Law can help you address your debt without fear of judgment.


Myth 4: If One Spouse Files for Bankruptcy, Both Must File

One frequent question couples ask is whether both spouses need to file for bankruptcy. The answer is no; one spouse can file for bankruptcy individually. In fact, filing separately can sometimes be the best option if one spouse’s debt is much higher than the other’s. A bankruptcy attorney in Durham, NC can assess your situation and advise you on the best route for debt relief in Durham, NC that suits both you and your partner’s financial goals.

Key Point: Filing separately can be beneficial if only one spouse has substantial debt, allowing the other to maintain credit stability.


Myth 5: Bankruptcy Will Discharge All Debts

While bankruptcy in Durham, NC provides relief from many types of debt, not all debts are dischargeable. Some obligations, such as child support, student loans, and certain tax debts, typically remain after bankruptcy. However, bankruptcy can eliminate unsecured debts, like credit card debt and medical bills, offering substantial debt relief in Durham, NC. Working with a skilled bankruptcy attorney in Durham, NC will help you understand which debts can be discharged and which may still require payment, giving you a clear picture of your financial outlook.

Key Point: While not all debts can be discharged, bankruptcy can still provide significant relief by eliminating many types of unsecured debt.


Myth 6: Bankruptcy in Durham, NC, Is Only for the Unemployed

It’s a common misconception that bankruptcy in Durham, NC is only for the unemployed. The reality is that many people with steady jobs find themselves overwhelmed by debt. For example, Chapter 13 bankruptcy is designed specifically for individuals with regular income who need a structured plan to manage their debt. At Cameron Bankruptcy Law, our bankruptcy lawyer in Durham, NC can evaluate your income and financial situation to see if Chapter 13 is the right choice for you.


Myth 7: You Can Only File for Bankruptcy in Durham, NC, Once

Some people think filing for bankruptcy in Durham, NC is a one-time-only option. While there are limits on how frequently you can file, it is possible to file for bankruptcy more than once. For instance, if you previously filed for Chapter 7, you must wait eight years before filing again, but you may be able to file for Chapter 13 sooner. A bankruptcy attorney in Durham, NC can help clarify eligibility requirements if you need to consider filing a second time for debt relief in Durham, NC.


Myth 8: Bankruptcy in Durham, NC, Is Complicated and Expensive

While the bankruptcy process in Durham, NC does involve certain steps, working with an experienced bankruptcy lawyer in Durham, NC makes the process manageable and stress-free. Many attorneys, including Cameron Bankruptcy Law, offer affordable fees and flexible payment plans to make debt relief in Durham, NC accessible to those who need it. With the right legal support, navigating paperwork, deadlines, and court requirements becomes straightforward and less overwhelming.


Myth 9: Filing for Bankruptcy in Durham, NC, Is a Public Embarrassment

Privacy is a concern for many people considering bankruptcy in Durham, NC. Although bankruptcy filings are a matter of public record, most people are not aware of them unless they actively search for the information. At Cameron Bankruptcy Law, we prioritize your privacy and handle each case with discretion, ensuring your debt relief journey in Durham, NC remains confidential.


Alternatives to Bankruptcy: Exploring Debt Relief in Durham, NC

While bankruptcy is a powerful solution, it’s not for everyone. Here are other debt relief in Durham, NC options:

Debt Settlement

Debt settlement involves negotiating with creditors to pay a lower amount. However, it can harm credit and lead to taxes on the forgiven amount.

Debt Management Plans (DMPs)

DMPs allow you to consolidate debts into a single payment. While they simplify payments, they don’t eliminate debt and often take years to complete.

Debt Consolidation Loans

Debt consolidation loans combine multiple debts into one, ideally with a lower interest rate. They require good credit and may involve collateral.


Choosing the Right Bankruptcy Lawyer in Durham, NC

Selecting a bankruptcy lawyer in Durham, NC is an important step. Cameron Bankruptcy Law offers the experience, client-centered approach, and local knowledge needed to guide you smoothly through bankruptcy.

The Strategic Advantage of Filing for Bankruptcy in Durham, NC

Filing for bankruptcy in Durham, NC isn’t about giving up—it’s about regaining control. Many people, from Walt Disney to Abraham Lincoln, have used bankruptcy to rebuild their lives. Whether it’s due to medical bills or job loss, bankruptcy helps individuals and families find stability.


Final Thoughts: Your Path to Debt Relief with Cameron Bankruptcy Law

Bankruptcy may feel daunting, but it can also offer a new beginning. At Cameron Bankruptcy Law, we’re here to support you every step of the way. Take control of your financial future and regain peace of mind with our compassionate, knowledgeable guidance.

ShereeKerrySignatures

Table of Contents

CALL FOR FREE CONSULTATION!

(919) 627-7748