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How to File Bankruptcy in North Carolina

Ferguson Hayes Hawkins, PLLC Jan. 24, 2017

 Filing for bankruptcy is a huge decision for anyone to make. Every year, thousand of people in the state of North Carolina must make this decision. There are many bankruptcy lawyers in the state who are there to help people in this financial situation. Even after going through the bankruptcy process, a person must still change their financial behaviors that got them there in the first place. Here are some things to consider before making the final decision to file for bankruptcy.

Cost of Filing

Almost everyone who is going to file for bankruptcy is in a tough financial situation. However, there is also a cost to working with a bankruptcy law firm to figure out how to handle the case. Always remember to get solid financial advice in this area. The decision to make is a huge one, and this should only be done after talking extensively with a bankruptcy law firm. Quality bankruptcy lawyers should be able to walk their clients through the cost of filing and the different processes that are involved. At the end of the day, it is vital that the correct decision is made. Over the long term, this is one of the most important financial decisions that anyone will make.

Types of Bankruptcy

Many people do not realize that there are several types of bankruptcy that can be filed. One of these forms of bankruptcy allows a person to be on a payment plan to get rid of some of the debt. However, the other form of bankruptcy simply absolves a person of all of their debts. There are pros and cons to both, but the fact of the matter is that anyone in this situation is going to need long term help with their finances. People who are struggling with their finances in North Carolina need to contact people in the area who have experience with bankruptcy law. Choosing a high quality attorney to fight in your case is one of the most important decisions that you can make during the process.

Life After Bankruptcy

The good news for people who go through the bankruptcy process is that there is life after bankruptcy. Although it is hard to imagine, there is a way to get out of bankruptcy and prosper over the long term. However, it is important to change the financial decisions that you made earlier in your life. This is the best way to ensure you are not in this situation again. A bankruptcy will harm your credit score for many years after it is filed. Start working immediately on building back up your credit score and to get back on solid financial footing.