Bankruptcy Law

What is Bankruptcy?

Bankruptcy is the process of filing a petition for relief from personal and/or business debt with the Federal Courts. A Chapter 7 bankruptcy discharges your unsecured debt. A Chapter 13 bankruptcy is a repayment plan in which you pay back a percentage of your debt over time. In both Chapter 7 and Chapter 13 bankruptcy, you are entitled to keep your home or car or other items, provided you continue to pay these debts.

How do I file bankruptcy?

The initial step in filing bankruptcy is meeting with us for a free consultation. During the consultation, we will assess your situation, review your options with you, and help you decide which bankruptcy, if any, will work for you. Once you have decided to file bankruptcy, we will take you through each step of the process from filing your petition to receiving your discharge.

Will I lose anything if I file for bankruptcy?

When you file bankruptcy, the property exemptions protect your property from creditors. Usually, you can keep your car, home, household goods, retirement accounts, bank accounts, and miscellaneous items. Even if your property is worth more than you owe on it, you can usually use the property exemptions to protect it.

When does creditor harassment stop?

Immediately. Once you have retained Worley & Peltz, PLLC to represent you in your bankruptcy case, you will refer all creditor calls to our office. Once your bankruptcy case is filed with the Court, it becomes illegal for creditors to contact you.

How will filing bankruptcy affect my credit?

A Chapter 7 or Chapter 13 bankruptcy filing can stay on your credit report for 7 to 10 years. However, we will discuss what you can do to minimize the effect on your credit, and help you learn how to re-build your credit quickly after filing bankruptcy.



7 Orchard St., Suite 100
Asheville, NC 28801
Phone: 828.255.2728
Fax: 828.255.2724

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