Experienced, Personalized
Legal Guidance For Bankruptcy
If you are faced with the prospect of bankruptcy, having a dedicated attorney on your side can make the process less stressful. A skilled lawyer will explain your options and advise you on whether bankruptcy is the best solution for achieving your desired outcome. At Wickham Law, attorney Douglas Wickham has been helping clients with bankruptcy matters for over three decades. He is certified as a specialist in both consumer and business bankruptcy by the North Carolina State Bar.
If You Are Facing Bankruptcy In Raleigh, North Carolina, Contact Wickham Law For Advice.
Is Bankruptcy Right For Your Situation?
No one plans to declare bankruptcy. However, in many cases, bankruptcy can be the best way to recover from a bad financial situation. Perhaps you are facing costly, unexpected medical expenses. Maybe you lost your job and fell behind on your bills. Bankruptcy gives people a way to start fresh.
Attorney Douglas Wickham works with clients in North Carolina to find the best resolution to their unique circumstances. He will review your case and give you an honest assessment of your best course of action. He has been helping clients since 1987; he opened his own law office in 2018 so he could personally assist clients who need bankruptcy help.
Mr. Wickham can deal with the most complex and unusual cases, as well as more straightforward situations.
What Type Of Bankruptcy Fits Your Circumstances?
There are two types of bankruptcy designed to help individuals get out of debt. Chapter 7 bankruptcy is the most direct and immediate form of debt relief; it discharges most debts, but involves some up-front costs. To be eligible for Chapter 7 bankruptcy, your income must be below the median income for a household of your size and location; alternatively, you must pass a means test calculation which is required under the Bankruptcy Code.
In Chapter 13 bankruptcy, the debtor proposes a plan which pays what is required to the Chapter 13 trustee. The commitment period required is between three and five years. Upon successful completion, unpaid debt is discharged and the debtor has earned a fresh start.
Both types of bankruptcy have advantages and disadvantages. An experienced bankruptcy attorney can help you make a sound choice regarding which type of bankruptcy proceedings would work best for your case.
Chapter 7 Bankruptcy
Chapter 13 Bankruptcy
Business Debt
Discharging Student Debt
What Happens When Business Debt Becomes Personal?
In many cases, the debts of a business are personally guaranteed by its owners. If the business entity loses money, the owners usually end up with substantial personal debt, often because they have poured their personal resources into the business to get it started or keep it alive in difficult times.
If a corporate entity is put into bankruptcy, its unencumbered assets are liquidated and there may be partial payments made to its creditors. However, that does not resolve the personal debt which is the fallout of most business closures.
If you have a business which is building up your personal debt, you should not wait to consult an experienced bankruptcy attorney. Call Wickham Law at 919-944-4913 today or ask about your case using this simple email form.
Wickham Law is a debt relief agency. The firm helps people file for bankruptcy relief under the Bankruptcy Code.
If you are considering bankruptcy, consult a respected, accomplished attorney.