A Legal Resource for Your Personal Bankruptcy Questions
Welcome to Duncan Law, a bankruptcy law firm with Charlotte, NC bankruptcy attorneys and Greensboro, NC bankruptcy lawyers dedicated to helping you and your family. If you are looking at this page you are probably looking for a bankruptcy attorney or want more information about personal bankruptcy.
Information Specific to Your Area
How Can We Help?
As you will learn, there are two main types of bankruptcy: Chapter 7 bankruptcy, which is a liquidation plan, and Chapter 13 bankruptcy, which offers a repayment plan. You can learn more about those two types of bankruptcy and other bankruptcy information through our bankruptcy navigation on the right.
We hope to be a source of valuable information. Bankruptcy attorneys Terry Duncan and Damon Duncan and their staff at Duncan Law understand bankruptcy can be complicated and confusing; therefore, we have tried to provide you information in a format that is easy to understand.
Filing for personal bankruptcy is one of the last things anyone wants to do. However, we understand that in life, bad things often happen to good people. We hear on the news every night about the economic difficulties all Americans are facing. Unfortunately, Charlotte, NC and Greensboro, NC and their surrounding areas are no different. During today’s difficult economic times we hear about people losing their jobs, being overwhelmed by medical bills, having their homes foreclosed upon and being drowned in credit card debt.
Duncan Law’s Assurance to You
If you are looking for a bankruptcy attorney then you have undoubtedly faced these or similar obstacles. Now is when you need someone who is dedicated to your case. Duncan Law has been filing bankruptcies for those facing tough financial times in the Charlotte metropolitan area in North Carolina and South Carolina since 1996. Since opening law offices in Charlotte, NC, Greensboro, NC and Winston-Salem, NC we have been dedicated to helping those who are having financial difficulty. Duncan Law has filed thousands of bankruptcies all across the greater Charlotte, NC area. Because of our successful filings, Duncan Law attorneys appear in the United States Bankruptcy Court several times each month. We have the experience, knowledge and skill to help you during these tough times.
Why Have Over 10,000 People Chosen Duncan Law?
Reason #1: Free Initial Consultation: When you contact our office, we will schedule a free initial consultation so that an attorney at Duncan Law can personally listen to your situation and let you know your bankruptcy options. It is completely free – all it takes is for you to request your free evaluation.
Reason #2: Easy Payment Plan: If you had thousands of dollars to pay you would not be considering filing bankruptcy. That is why we offer our popular easy payment plan. We will personally work with you to find a plan that works for your situation.
Reason #3: We Stop Creditor Phone Calls and Harassment: One of the biggest reasons that people file bankruptcy is to stop creditors from calling and harassing you at all hours of the day and night. By retaining a Duncan Law attorney and filing bankruptcy, we can stop creditor phone calls and harassment.
Reason #4: Experienced at Filing Bankruptcies: Duncan Law has filed thousands of bankruptcies and many of these are due to client referrals. We get positive reviews and referrals from our current and former clients because we have the experience to handle their situation, and the staff at Duncan Law treat people the way they want to be treated.
Reason #5: We Care About You and Your Family: At Duncan Law we refer to you by your name, not a case number. We know that financial difficulties don’t just affect you; they also affect your family. Debt can affect you and your family in almost every area of your life. You deserve a bankruptcy attorney who truly cares about the financial future of you and your family. Duncan Law is that law firm, and Terry Duncan and Damon Duncan are the attorneys who can provide you and your family with personal service. Our family is here to help your family.
We have built our reputation on these five core values. Duncan Law hopes to help you during these tough times.
North Carolina Bankruptcy FAQs
General Bankruptcy Questions
What is bankruptcy?
Bankruptcy is a legal process that provides relief for individuals or businesses experiencing financial difficulty. It allows you to clear your debts and make a fresh start. Learn more about bankruptcy.
What is the difference between Chapter 7 and Chapter 13 bankruptcy?
Chapter 7 bankruptcy, also known as “liquidation,” involves selling off your non-exempt assets to pay off your debts. Chapter 13 bankruptcy, or “reorganization,” involves creating a repayment plan to pay back your debts over a period of 3 to 5 years.
What are the qualifications for filing Chapter 7 or Chapter 13 bankruptcy in North Carolina?
To file for Chapter 7, you must pass the “means test,” which compares your income to the median income in North Carolina. For Chapter 13, you need a regular income and your debts must not exceed certain amounts.
Can bankruptcy help with my tax debt?
Some federal income tax debts may be discharged in Chapter 7 bankruptcy, but they must meet certain criteria. Chapter 13 allows for the repayment of tax debts in the repayment plan.
Filing for Bankruptcy
How do I file for bankruptcy?
Bankruptcy begins by filing a petition with the bankruptcy court. It’s recommended to work with a bankruptcy attorney to ensure you meet all requirements and deadlines. Check our FAQ page for more information.
What documents do I need to file for bankruptcy?
You’ll need a list of all your debts, assets, income, and expenses. Additionally, you’ll need a copy of your most recent tax return, and any tax returns filed during your case. Here’s how to get a copy of tax returns if filing bankruptcy.
How does bankruptcy affect my credit?
Bankruptcy will have a negative impact on your credit report, initially. However, by managing your finances responsibly post-bankruptcy, you can rebuild your credit over time.
Can I keep my home and car if I file for bankruptcy?
In many cases, yes. In Chapter 7, you can keep these assets if they’re considered exempt. In Chapter 13, they can be protected as part of your repayment plan.
Can I eliminate all types of debts with bankruptcy?
No. While bankruptcy can eliminate many types of debt, some, like student loans, child support, and certain taxes, are typically not dischargeable.
After Filing for Bankruptcy
What happens after I file for bankruptcy?
After filing, you’ll attend a meeting of creditors where your bankruptcy trustee and any interested creditors can ask you questions. Then, if you filed Chapter 7, non-exempt assets are liquidated and proceeds distributed to creditors. In Chapter 13, you’ll begin your repayment plan.
How can I rebuild my credit after bankruptcy?
Start by creating a budget, paying all bills on time, and gradually taking on new credit, such as a secured credit card or a credit-builder loan. Managing your finances post-bankruptcy can help improve your credit report.
Can I get a mortgage after bankruptcy?
Yes, but you’ll likely need to wait some time and work on rebuilding your credit first. This waiting period varies depending on the type of bankruptcy you filed and the type of mortgage loan.
What happens if I can’t make my Chapter 13 plan payments?
If you cannot make your payments, it’s important to contact your bankruptcy attorney right away. You might be able to modify your plan, convert your case to Chapter 7, or in some cases, receive a hardship discharge.
Working with a Bankruptcy Attorney
Do I need a lawyer to file for bankruptcy?Toggle 1
While it’s possible to file on your own, it’s strongly recommended to hire a bankruptcy attorney. The process is complex and any mistakes can have serious consequences.
What should I look for in a bankruptcy attorney?
Look for an attorney with extensive experience in consumer bankruptcy, a deep understanding of both Chapter 7 and Chapter 13, and a strong reputation in your local community. At Duncan Law, our attorneys are ready to help.
What areas in North Carolina do you serve?
We serve many areas in North Carolina, including Charlotte, Greensboro, High Point, Salisbury, and Winston-Salem.
Who will be handling my case?
At our firm, your case will be handled by seasoned attorneys Terry Duncan and Damon Duncan, who will guide you through every step of the process.
Bankruptcy and Taxes
Will bankruptcy affect my tax returns?
Bankruptcy can impact your tax returns. For instance, if you file for Chapter 7, the bankruptcy estate may be entitled to part or all of your tax refund. Learn more about how bankruptcy can affect your taxes.
Can bankruptcy wipe out tax liens?
Bankruptcy can discharge certain tax debts, but it usually cannot remove a tax lien from your property. A tax lien is a claim by the government on your property due to unpaid taxes. Learn more about how tax liens are handled in bankruptcy.
Am I still required to pay property taxes if I surrender my property in bankruptcy?
If you surrender your property in bankruptcy, you are no longer responsible for the property or its associated debts, including property taxes. However, any unpaid taxes at the time of surrender could result in a tax lien that remains after bankruptcy. Get more insights about property taxes and bankruptcy.
Want to Know More About Us?
Terry Duncan
Since opening his firm almost 20 years ago, Terry has filed thousands of bankruptcies. His entrepreneurial spirit began long ago – as a new college graduate, he owned and ran a convenience store. He is a certified specialist in both consumer and business bankruptcy.
Damon Duncan
Damon is the constant optimist who loves working with a team to solve problems. His current team at Duncan Law is ready to help you. Damon is used to working with a team after growing up playing football and lacrosse and serving as student body president in law school.
