Duncan Law, LLP is a law firm in Salisbury, North Carolina that is dedicated to helping people get a fresh start by filing for bankruptcy.
Our two attorneys, Terry Duncan and Damon Duncan, are board-certified specialists in consumer bankruptcy with extensive experience in this field. They understand the stress and difficulties that come with this process, and they are here to make it as easy as possible for you.
We know you have a lot of options when it comes to hiring a bankruptcy attorney in Salisbury, NC. This page will discuss why we think we may be a good option for you and your family. Below, you will also have the ability to schedule an appointment if that is something you are interested in doing. Whether you are ready to move forward or you’re just beginning to explore bankruptcy as an option, we are happy to have you here!
Duncan Law, LLP is a law firm in Salisbury, North Carolina that specializes in helping people with their bankruptcy cases. Our two attorneys, Terry Duncan and Damon Duncan, are board-certified specialists in consumer bankruptcy. This means they have a lot of experience and knowledge in this area of law.
At some firms, you’ll just speak with a paralegal or support staff. Not with us. With us, you’ll speak with a board-certified specialist in consumer bankruptcy. We know you don’t want to file for bankruptcy; nobody does. However, the situation you are going through is very likely fixable. We think it’s important you have the opportunity to meet with a qualified bankruptcy attorney so you can understand the benefits and drawbacks of bankruptcy and have all of your questions answered. Doing so will ensure you have the information necessary to make an educated decision on what, if anything, you want to do.
Together, Terry and Damon have filed thousands of bankruptcy cases. As a result, they have helped many people get a fresh start by getting rid of their debt through bankruptcy. They understand how difficult and stressful this time can be, and they are here to help make the process as easy and painless as possible.
We know that the cost of filing for bankruptcy can be overwhelming, which is why we offer payment plans for our clients. This means you don’t have to come up with all the money at once. Instead, we’ll work with you to develop a plan that fits your budget.
Our mission at Duncan Law, LLP is to help you get a fresh start. Everyone deserves a second chance, and we’re here to make that happen. So whether you’re filing for Chapter 7 or Chapter 13 bankruptcy, we’ll be with you every step, answering your questions and helping you through the process.
If you are looking for a free bankruptcy consultation in Salisbury, it is easy to do. Schedule online or call our office and we will find a time that works for your schedule. Prior to your bankruptcy consultation, we will ask you to complete an online questionnaire so I have your information in advance which will allow me to talk with you about your options. The consultation is a time for you to ask questions and learn about bankruptcy so you can decide if it is a good option for you.
First, the initial bankruptcy consultation is free.
Second, If you decide to file bankruptcy, I will talk with you about the fees you will need to pay. Some of the fees are set by the courts and are the same for everyone, while other fees depend on the specifics of your case. We will share all of the information about fees with you during the consultation. I wish I could just give you a number on here but if I did that I could charge you too little or too much. I’m a big believer that the price of a bankruptcy should be based on the complexities of your situation. I shouldn’t charge you the same as I charge someone else with an extremely complex situation.
Third, no matter what, we offer an easy payment plan to help you pay for the bankruptcy. We have done this for a long time and understand if you had a bunch of money laying around you probably wouldn’t be reaching out to us.
We would be glad to meet with you for a bankruptcy consultation in Salisbury or over the phone. Our office address is:
Duncan Law, LLP
301 South Main Street #100
Salisbury, NC 28144
Our office telephone number is: (704) 297-4000.
Bankruptcy is a way for people or businesses who can’t pay their debts to get a fresh start. When you file for bankruptcy, the court will look at your debts and assets and decide if they can help you pay off your debts. If the court determines that you can’t pay off your debts, they will discharge (forgive) some or all of your debts.
There are two main types of bankruptcy for individuals: Chapter 7 and Chapter 13.
Chapter 7 Bankruptcy
Chapter 7 bankruptcy is also known as a “straight bankruptcy” or a “liquidation bankruptcy”. In this type of bankruptcy, the court will look at your assets and use the money from selling any assets to pay off your creditors. If you don’t have any assets to sell, your creditors won’t receive any money, but your debts will still be discharged.
Chapter 13 Bankruptcy
Chapter 13 bankruptcy is also known as a “reorganization bankruptcy”. In this type of bankruptcy, you get to keep your assets and pay off your debts for three to five years. You will make payments to the court, and the court will then pay your creditors.
By filing for bankruptcy, you can get a fresh start and get out from under the burden of debt. The court will forgive some or all of your debts, allowing you to start over. You can use the money you would have been using to pay off debts and pay for other things you need, like food, housing, and clothing.
If you’re struggling with debt, bankruptcy may be your solution. We are here to help. Our experienced attorneys, Terry Duncan and Damon Duncan, are board-certified specialists in consumer bankruptcy and have filed thousands of cases. We have bankruptcy offices in Charlotte, Greensboro, High Point, and Winston-Salem, NC. No matter where you file, we will guide you through the process and help you get a fresh start. Plus, we offer payment plans to make the cost of filing more manageable. So don’t let debt control your life. Contact Duncan Law, LLP today and start on the path to a debt-free future.
What is the difference between Chapter 7 and Chapter 13 bankruptcy?
Chapter 7 and Chapter 13 are two different types of personal bankruptcy. Chapter 7, often referred to as “liquidation bankruptcy,” allows you to discharge most of your unsecured debts. Chapter 13, known as “reorganization bankruptcy,” allows you to create a payment plan to repay all or part of your debts over three to five years. More on Chapter 7 and Chapter 13.
Who can file for bankruptcy in Salisbury, North Carolina?
Any person or business entity facing financial hardship can file for bankruptcy in North Carolina, provided they meet certain requirements related to residency, income, and previous bankruptcy filings.
How often can I file for bankruptcy?
There are time limits between bankruptcy filings. For example, you must wait eight years from your previous Chapter 7 discharge to file another Chapter 7.
Can bankruptcy help with tax debts?
Certain tax debts can be discharged in bankruptcy, but there are specific rules and qualifications. Find more about this in our post on taxes and bankruptcy.
Will bankruptcy stop wage garnishment?
Yes, filing for bankruptcy generally stops wage garnishment and other collection actions through the “automatic stay” that goes into effect when you file.
How will bankruptcy affect my credit score?
Bankruptcy will negatively impact your credit score initially, but over time, and with good credit habits, you can rebuild your credit. More information about this topic can be found on our credit report page.
Can I keep my car and home in bankruptcy?
Depending on your circumstances, you may be able to keep your car and home in bankruptcy. This depends on the type of bankruptcy filed, the amount of equity in the assets, and your ability to continue making payments.
Will my employer find out if I file for bankruptcy?
Bankruptcy filings are public records. However, unless your employer is a creditor or actively seeks out the information, they are unlikely to find out.
Can I remove a bankruptcy from my credit report?
A bankruptcy can stay on your credit report for 7 to 10 years, depending on whether you file Chapter 7 or Chapter 13 bankruptcy. It can’t typically be removed before this time.
Should I file for bankruptcy?
The decision to file for bankruptcy is personal and depends on your financial situation. If you’re facing overwhelming debt and considering bankruptcy, it’s best to consult with a Salisbury, NC bankruptcy lawyer.
What alternatives to bankruptcy exist?
Alternatives can include negotiating with creditors, credit counseling, debt consolidation loans, or a debt management plan.
Can I file for bankruptcy without my spouse?
Yes, you can file for bankruptcy individually without involving your spouse. However, your spouse’s income will still be considered for means testing and their property may also be considered in a Chapter 7 bankruptcy case.
What should I do if I’m facing foreclosure in Salisbury, NC?
If you’re facing foreclosure, bankruptcy might be an option to consider. A Chapter 13 bankruptcy could allow you to keep your home and catch up on delinquent payments.
Can I get credit after bankruptcy?
Yes, it is possible to get credit after bankruptcy. However, you might face higher interest rates and conditions. With time and responsible credit use, you can rebuild your credit.
Can I buy a house after bankruptcy?
Yes, but you may need to wait a certain period and demonstrate that you have re-established good credit.
How can I rebuild my credit after bankruptcy?
You can rebuild your credit by making timely payments on any debts not discharged in bankruptcy, applying for a secured credit card, and maintaining a stable income.
What happens if I can’t make my Chapter 13 payments?
If you’re unable to make your Chapter 13 plan payments, it’s crucial to communicate with your attorney. You may be able to modify your plan or convert to Chapter 7 bankruptcy.
Are tax debts dischargeable in bankruptcy?
Some tax debts can be discharged in a Chapter 7 bankruptcy. Rules surrounding this are complex, and it’s best to discuss your situation with a bankruptcy specialist.
Will I lose my tax refund if I file for bankruptcy?
It depends on your circumstances, including the type of bankruptcy you file and the timing. Learn more about protecting your tax refund in bankruptcy.
How does bankruptcy affect future tax filings?
Bankruptcy can have implications for your tax filings. For instance, a canceled debt may be considered taxable income. More on how bankruptcy can change your tax filings.
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