What Happens After My Free Bankruptcy Consultation?

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After your free bankruptcy consultation, you may choose to sign a contract.  We will thoroughly explain each section of the contract, answer any other questions that you may have and allow you as much time as necessary to review our work agreement.  At this time we can set you up on an easy payment plan, which allows you to give us an estimate of a time frame of when you expect to file and allows you to make payments toward the attorney fees.

We will then give you your paperwork, along with an example of the paperwork as a quick reference guide.  We will explain in detail the documents needed to file, and the process of turning them in.  Lastly, you’ll get an email contact of someone in the office should you have any further questions.  No matter what, we want you to be as informed as possible and we want this process to be smooth and efficient for you!

In other words, you choose what the next steps are after your consultation.  You may choose to file bankruptcy with our law firm or you may wish to think about some of your options.  Again, we are here to answer questions as they come about.  We hope we get the opportunity to earn your business and we look forward to working with you. Contact us to get your fresh financial start today!

How Terry Duncan Began Practicing Bankruptcy Law

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Many times people have asked me why I have chosen bankruptcy as one of the fields of law to practice.

I have to be honest with you, when I started law school in Texas I didn’t know the slightest thing about bankruptcy. I started law school with the intention of having a trial litigation practice. For a short while in law school I worked for a trial litigation group owned by attorney Gary Dobbs and psychologist Phil McGraw. That’s right, Dr. Phil, of TV fame. Both were very nice guys. I soon learned the cold hard facts that there were many months of trial preparation for just a few days of actual trial. I had watched many different TV shows in which every week the attorney had a new exciting trial to battle for justice for his client. I soon realized in reality most trial attorneys only have an actual trial only several times each year. Most of their time was spent on technical matters and the discovery process of the trial.

As my law school studies progressed I wanted more daily interaction with real people. One day I was checking what law classes were available for the next semester. It turned out there was a bankruptcy course scheduled exactly between two other courses I was taking. I thought I would take the course and learn the basics of bankruptcy. As I was taking the course and learning about Chapter 7 bankruptcy and Chapter 13 bankruptcy laws I began to enjoy the class.

When I graduated law school and moved to Charlotte, North Carolina to eventually open my own law practice, I listed bankruptcy as one of my fields of practice. At that time, I believed bankruptcy would only be a small percentage of my law practice. However, as time progressed so did the bankruptcy practice. I would represent one client and they would refer me to their friends, co-workers, and family. Eventually the majority of my law practice was Chapter 7 and Chapter 13 bankruptcy. Unlike some corporate law attorneys that usually see one client every week, I would see many different clients each day. Each client would have their own unique story of their road to their current situation. It was a great personal pleasure for me to help the client and relieve the enormous financial pressure the client was under.

In conclusion, this is how I became involved in the bankruptcy law practice. I still do nursing home abuse, medical malpractice, and workers’ compensation, but the majority of my business is helping people with Chapter 7 and Chapter 13 bankruptcy.

I hope that if you are looking for a bankruptcy lawyer you will contact us.  I work in our Charlotte, NC bankruptcy office but my son and daughter-in-law work in our Greensboro , NC bankruptcy law firm.  We hope to earn your business.

What is the Means Test in Bankruptcy?

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With major changes in the bankruptcy laws in 2005, you are required to undergo a “means test.” Simply put, your household’s income for the six months prior to filing bankruptcy (your income, your spouse’s income and any contribution to your household from others) is annualized and compared to the Census Bureau’s median income for the same size household within your state.

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What is a Chapter 13 Bankruptcy?

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For individuals, there are two common types of bankruptcy: Chapter 7 bankruptcy and Chapter 13 bankruptcy.  We discussed Chapter 7 bankruptcy in a previous post, but as a quick refresher, Chapter 7 bankruptcy is a liquidation bankruptcy that will allow a person to eliminate most of their unsecured debt such as credit cards, medical bills, and personal loans.

On the other hand, a Chapter 13 bankruptcy is a repayment plan.  People who file Chapter 13 bankruptcy are often behind on their house or car payments and want to keep their house or car.

As mentioned in the Chapter 7 bankruptcy post, some individuals may be required to file a Chapter 13 bankruptcy instead of a Chapter 7 bankruptcy if their income exceeds the amount allowed by federal bankruptcy laws.  You would need to visit our office for more detailed information on this bankruptcy law requirement.

In Chapter 13 bankruptcy, the repayment plan usually lasts 3-5 years, and monthly payments are made to the Bankruptcy Trustee.  In order to file a Chapter 13, however, you must show sufficient income to make your monthly payments to the Trustee as well as provide for your family as you normally would.

We encourage you to contact our offices for a free consultation to learn more about how bankruptcy can help you eliminate your debts.