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[av_heading heading=’Greensboro, NC Bankruptcy Lawyers’ tag=’h1′ style=” size=” subheading_active=” subheading_size=’15’ padding=’10’ color=” custom_font=” av_uid=’av-1l07xv8′][/av_heading]
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Duncan Law, LLP is a bankruptcy law firm with one of its offices located in Greensboro, NC. We understand the economy has hit the people of Greensboro, High Point, Winston-Salem, Burlington, and the surrounding Triad as hard as anywhere in North Carolina and even the country. That is one of the reasons we offer a free, no strings attached, consultation. Call us or submit your information on the quick contact form on the right and we will contact you to set up your free consultation with Damon Duncan.
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[av_heading heading=’Who Are We? Your Bankruptcy Lawyers in Greensboro, NC’ tag=’h2′ link_apply=” link=” link_target=” style=” size=” subheading_active=” subheading_size=’15’ margin=” padding=’10’ color=” custom_font=” custom_class=” admin_preview_bg=” av-desktop-hide=” av-medium-hide=” av-small-hide=” av-mini-hide=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” av_uid=’av-u371dw’][/av_heading]
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We are a Greensboro law firm that can help you recover from your financial troubles. Damon Duncan can help you file either a Chapter 7 or a Chapter 13 bankruptcy and get the fresh financial start that you deserve. Are you tired of staying up at night worrying about what’s happened in the past? Is the money you owe having an impact on your personal life? We know how you feel. We talk to people every day and are able to help them get a fresh start so they can move forward with life. Aren’t you ready to get your financial life back? Together we can do it.
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[av_heading heading=’Who Typically Files for Bankruptcy?’ tag=’h2′ link_apply=” link=” link_target=” style=” size=” subheading_active=” subheading_size=’15’ margin=” padding=’10’ color=” custom_font=” custom_class=” admin_preview_bg=” av-desktop-hide=” av-medium-hide=” av-small-hide=” av-mini-hide=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” av_uid=’av-stzlf8′][/av_heading]
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Many times people who file are suffering from one or more of the following problems:
- High credit card debt
- Foreclosure of a home
- Repossession of a vehicle
- Personal loan debts
- Harassing Creditor Phone Calls
- Inescapable Medical Bills
- Loss of a Job
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[av_heading heading=’What Are Others Saying?’ tag=’h2′ link_apply=” link=’manually,http://’ link_target=” style=” size=” subheading_active=” subheading_size=’15’ margin=” padding=’10’ color=” custom_font=” custom_class=” admin_preview_bg=” av-desktop-hide=” av-medium-hide=” av-small-hide=” av-mini-hide=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” av_uid=’av-rx8bpw’][/av_heading]
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[av_heading heading=’Inside the Numbers: How Many Other People Are Filing?’ tag=’h2′ link_apply=” link=” link_target=” style=” size=” subheading_active=” subheading_size=’15’ margin=” padding=’10’ color=” custom_font=” custom_class=” admin_preview_bg=” av-desktop-hide=” av-medium-hide=” av-small-hide=” av-mini-hide=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” av_uid=’av-qeidic’][/av_heading]
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If you are suffering from these or similar types of problems you are not alone. In the United States Bankruptcy Court – Middle District of North Carolina (which consists of areas like Greensboro, High Point, Burlington, Durham, etc.) thousands of people file bankruptcy every year. Families in North Carolina, like they are all across the country, have had an economically difficult time with everything that has been going on. So what does that mean for you? It means you’re not alone. The reality is – good people need help. Learn more about how we can help you by looking through our website and calling our office today to set up your free consultation.
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[av_heading heading=’What Are Common Myths About Filing Bankruptcy?’ tag=’h2′ link_apply=” link=” link_target=” style=” size=” subheading_active=” subheading_size=’15’ margin=” padding=’10’ color=” custom_font=” custom_class=” admin_preview_bg=” av-desktop-hide=” av-medium-hide=” av-small-hide=” av-mini-hide=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” av_uid=’av-ookng4′][/av_heading]
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There are a few common myths I hear from prospective clients when they come into our office. The three most common, for example, is clients tell me they are afraid they will go to jail for filing bankruptcy, that they are concerned they won’t be able to buy a house for 10 years or that they will be fired from their job for filing bankruptcy. None of those things are true. Debtors’ prison ended in 1833. You cannot go to jail for not paying your debts. No matter what a bill collector tries to tell you, you will not go to jail for failing to pay your debts (taxes are sometimes an exception) or filing for bankruptcy.
You can also purchase a house and car within 10 years from when you file bankruptcy. We help clients with the process every week. The further you get away from when you filed bankruptcy the better the interest rate you will have. But you absolutely can get a house or a car in less than 10 years. You could do it immediately after filing bankruptcy but your interest rates would be much higher. It is against the law for an employer to fire you from your job because you filed a bankruptcy. If your employer does try to fire you from your job they would be violating federal laws and are subject to lawsuits. We also have clients who are concerned with security clearance if they file for bankruptcy. We have never had a client have their security clearance taken away due to filing bankruptcy. We can’t guarantee that it will never happen but, to date, we have not seen it ever be an issue.
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It’s tough to answer this question. It is different for each person. Our firm has filed bankruptcies for thousands of clients. Over the years it seems the most common negative aspect about filing for bankruptcy has been the impact it has on your credit. Your credit score will undoubtedly go down when you file. We’ve discussed that quite a bit before. However, if you have a house and vehicles and don’t need to get financing for anything for a couple of years then the impact on your credit may be unimportant. Another drawback to filing is the stress of going through the filing process. It’s not easy to file for bankruptcy. We have to get a lot of information and paperwork – the courts require it. Sometimes the process can be stressful to get the bankruptcy filed. We understand that and try to have as straightforward and simple a process as possible when working with our firm. It’s safe to say that our clients are usually relieved and happy to get their fresh start after filing bankruptcy.
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So we discussed above how filing bankruptcy will hurt your credit score but how much will it hurt your score? It really varies for each person filing. If you have a great credit score right now then it will, naturally, drop more than someone who has a poor credit score. On average, our clients have seen about a 100 point drop on their credit score after filing bankruptcy. Again, it really does vary depending upon your specific situation. Maybe just as important as the impact on your credit is your ability to rebuild your credit after bankruptcy. Most of our clients are able to rebuild their credit score and surpass their previous score within a couple of years.
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[av_heading heading=’What Options Do I Have Other Than Filing Bankruptcy?’ tag=’h2′ link_apply=” link=” link_target=” style=” size=” subheading_active=” subheading_size=’15’ margin=” padding=’10’ color=” custom_font=” custom_class=” admin_preview_bg=” av-desktop-hide=” av-medium-hide=” av-small-hide=” av-mini-hide=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” av_uid=’av-jkn7j8′][/av_heading]
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This is a great question and any bankruptcy lawyer worth their salt will discuss non-bankruptcy options as well in your consultation, we certainly do. The most common non-bankruptcy options are doing nothing at all, debt consolidation, short sales and a deed in lieu of foreclosure. Doing nothing at all tends to be the worst option for most people. You run the risk of being sued and having judgments and liens against you.
Debt consolidation can be a dangerous option. Why is it dangerous? It’s because of what the debt consolidation companies don’t tell you. We have clients every week that come into our office and discuss how they’ve spent the last year with a debt consolidation company and they owe more now than they did when they started the debt consolidation program. This is after a year of almost unbearable monthly payments! It can take you several years to pay down some of these debts. Also, debt consolidation companies cannot require a creditor to work with them. So even though you make your monthly payments with the debt consolidation company, creditors can still sue you if they want to. Additionally, if they are able to settle debts for you and the amount “forgiven” is more than $600 then you have to pay taxes on that forgiven debt. That means you could now potentially owe the IRS or state taxes for forgiven debt. That’s bad! Filing a bankruptcy, if appropriate, means the creditors don’t have a choice on whether or not they want to be in the bankruptcy . You also aren’t taxed on debt that is wiped out.
A short sale or deed in lieu of foreclosure can allow you to avoid a foreclosure but it does not stop the mortgage company or companies from still coming after you for money that is owed after the sell of your home (unless it is specified in writing that they will not come after you). That means you could end up losing your house and still owe money on it if you are not careful. A bankruptcy may offer you the ability to keep your home if you want to keep it or wipe out any debt that is left over after the sale of property. Is bankruptcy the only option? Of course not. Is it the best option? Not always. However, if you are facing financial struggles it at least makes sense to have a discussion with an experienced bankruptcy attorney to see what your options are and the benefits and drawbacks of each of those options. That is exactly what we try to do in our free consultation. If you are in the Triad and want to learn more about your options I hope you’ll contact us.
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[av_heading heading=’Why Did We Open A Greensboro, NC Bankruptcy Office?’ tag=’h2′ link_apply=” link=” link_target=” style=” size=” subheading_active=” subheading_size=’15’ margin=” padding=’10’ color=” custom_font=” custom_class=” admin_preview_bg=” av-desktop-hide=” av-medium-hide=” av-small-hide=” av-mini-hide=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” av_uid=’av-1qexac’][/av_heading]
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Duncan Law was started in Charlotte, NC. However, after Damon and his wife, Melissa, had lived in Burlington, High Point, or Greensboro for seven years while attending college and law school, they decided to open an office in Greensboro. We wanted a bankruptcy law firm that served areas such as Greensboro, NC, as well as Burlington, Asheboro, Archdale, Reidsville, Mebane, and Kernersville, NC, and provided the best possible service.
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Right now. Literally, contact our Greensboro, NC office by filling out the quick contact information on the right and we will discuss your situation and get you set up for a free consultation. Our free, no strings attached, consultation isn’t a sales pitch – it’s an information gathering session. We will discuss both bankruptcy and non-bankruptcy options.
Our Address:
Greensboro, NC 27410
United States
(336) 856-1234
Our Hours:
We are open for calls 24 hours a day, seven (7) days a week.
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[av_heading heading=’Greensboro, NC Bankruptcy FAQs’ tag=’h2′ link_apply=” link=’manually,http://’ link_target=” style=” size=” subheading_active=” subheading_size=’15’ margin=” padding=’10’ color=” custom_font=” custom_class=” admin_preview_bg=” av-desktop-hide=” av-medium-hide=” av-small-hide=” av-mini-hide=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” av_uid=’av-dsds4k’][/av_heading]
[av_heading heading=’General Bankruptcy Questions’ tag=’h3′ link_apply=” link=’manually,http://’ link_target=” style=” size=” subheading_active=” subheading_size=’15’ margin=” padding=’10’ color=” custom_font=” custom_class=” admin_preview_bg=” av-desktop-hide=” av-medium-hide=” av-small-hide=” av-mini-hide=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” av_uid=’av-cdoi90′][/av_heading]
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[av_toggle title=’What is the difference between Chapter 7 and Chapter 13 bankruptcy? ‘ tags=” av_uid=’av-zh57es’]
Chapter 7 and Chapter 13 are the most common types of bankruptcy. Chapter 7 bankruptcy involves liquidation of assets to pay off debts, whereas Chapter 13 involves a repayment plan.
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[av_toggle title=’Who can file for bankruptcy in Greensboro, North Carolina? ‘ tags=” av_uid=’av-xusap0’]
Anyone who resides, has a domicile, a place of business, or property in the United States, including North Carolina, can file for bankruptcy. However, there are specific requirements for each type of bankruptcy.
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Insolvency is when your debts exceed your assets. While insolvency can lead to bankruptcy, they’re not the same thing. Bankruptcy is a legal process that can help manage insolvency.
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[av_heading heading=’Filing for Bankruptcy’ tag=’h3′ link_apply=” link=’manually,http://’ link_target=” style=” size=” subheading_active=” subheading_size=’15’ margin=” padding=’10’ color=” custom_font=” custom_class=” admin_preview_bg=” av-desktop-hide=” av-medium-hide=” av-small-hide=” av-mini-hide=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” av_uid=’av-amkzk4′][/av_heading]
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[av_toggle title=’How do I file for bankruptcy in Greensboro, NC? ‘ tags=” av_uid=’av-u7b56c’]
Filing for bankruptcy involves several steps, including credit counseling, completing a bankruptcy petition, and meeting with creditors. It’s highly recommended to seek guidance from a Greensboro, NC bankruptcy lawyer.
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[av_toggle title=’What documents do I need to file for bankruptcy? ‘ tags=” av_uid=’av-su9gd0’]
You’ll need various documents, such as tax returns, pay stubs, a list of assets and liabilities, and a list of income and expenses.
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[av_toggle title=’What are the consequences of filing for bankruptcy? ‘ tags=” av_uid=’av-qzf49w’]
Filing for bankruptcy can have both positive and negative effects. On one hand, it can provide relief from debt. On the other, it can affect your credit and make it harder to secure loans in the future.
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[av_heading heading=’During Bankruptcy’ tag=’h3′ link_apply=” link=’manually,http://’ link_target=” style=” size=” subheading_active=” subheading_size=’15’ margin=” padding=’10’ color=” custom_font=” custom_class=” admin_preview_bg=” av-desktop-hide=” av-medium-hide=” av-small-hide=” av-mini-hide=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” av_uid=’av-8m43t0′][/av_heading]
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In many cases, you can keep your home and car during bankruptcy. However, this depends on your equity in the property and your ability to continue making payments.
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Discharging student loans in bankruptcy is difficult but not impossible. It generally requires proving that repayment would cause undue hardship.
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[av_toggle title=’What happens to my credit cards when I file for bankruptcy? ‘ tags=” av_uid=’av-m7kcic’]
When you file for bankruptcy, your credit cards will typically be closed. You may be able to open new ones after your bankruptcy is discharged, but with higher interest rates.
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[av_toggle title=’Will filing for bankruptcy stop creditor harassment? ‘ tags=” av_uid=’av-l5y6ic’]
Yes. When you file for bankruptcy, an “automatic stay” goes into effect, preventing creditors from contacting you about your debt.
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[av_heading heading=’After Bankruptcy’ tag=’h3′ link_apply=” link=’manually,http://’ link_target=” style=” size=” subheading_active=” subheading_size=’15’ margin=” padding=’10’ color=” custom_font=” custom_class=” admin_preview_bg=” av-desktop-hide=” av-medium-hide=” av-small-hide=” av-mini-hide=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” av_uid=’av-7nhqz8′][/av_heading]
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[av_toggle title=’How long does bankruptcy stay on my credit report? ‘ tags=” av_uid=’av-1z0f9g’]
A Chapter 7 bankruptcy can stay on your credit report for up to 10 years, while a Chapter 13 bankruptcy can stay for up to 7 years.
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[av_toggle title=’Can I get a credit card after bankruptcy? ‘ tags=” av_uid=’av-1q2a1g’]
Yes, but it may come with higher interest rates. Secured credit cards are a good option for rebuilding credit after bankruptcy.
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[av_toggle title=’Can I buy a house after bankruptcy? ‘ tags=” av_uid=’av-fpomxw’]
Yes, it’s possible to buy a house after bankruptcy, but you may need to wait a certain period and show that you have rebuilt your credit.
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[av_heading heading=’Bankruptcy and Taxes’ tag=’h3′ link_apply=” link=’manually,http://’ link_target=” style=” size=” subheading_active=” subheading_size=’15’ margin=” padding=’10’ color=” custom_font=” custom_class=” admin_preview_bg=” av-desktop-hide=” av-medium-hide=” av-small-hide=” av-mini-hide=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” av_uid=’av-5eanhw’][/av_heading]
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[av_toggle title=’Are tax debts dischargeable in bankruptcy? ‘ tags=” av_uid=’av-dlcnh0’]
Some tax debts can be discharged under Chapter 7 or Chapter 13 bankruptcy. It’s a complex area, so discuss your situation with an experienced bankruptcy lawyer in Greensboro, NC.
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[av_toggle title=’How does bankruptcy affect my tax filings? ‘ tags=” av_uid=’av-bwjngk’]
Bankruptcy can affect your tax filings. For instance, if you file for Chapter 7 bankruptcy, you may need to file a separate “estate” tax return. You can learn more about this in our detailed article on how bankruptcy changes tax filings.
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Whether you can keep your tax refunds in bankruptcy depends on several factors, including when you received the refund. You can learn more from our article on keeping tax refunds after filing for bankruptcy.
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[av_toggle title=’How are tax liens handled in bankruptcy? ‘ tags=” av_uid=’av-95xetg’]
Tax liens can be tricky in bankruptcy. In some cases, they may not be dischargeable. Check our detailed article on how tax liens are handled in bankruptcy.
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It’s possible to protect your tax refund in bankruptcy by using exemptions, but it depends on various factors. Our guide on tax refunds in bankruptcy can provide more information.
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[av_heading heading=’Seeking Legal Advice’ tag=’h3′ link_apply=” link=’manually,http://’ link_target=” style=” size=” subheading_active=” subheading_size=’15’ margin=” padding=’10’ color=” custom_font=” custom_class=” admin_preview_bg=” av-desktop-hide=” av-medium-hide=” av-small-hide=” av-mini-hide=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” av_uid=’av-3h4304′][/av_heading]
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[av_toggle title=’Should I hire a bankruptcy attorney? ‘ tags=” av_uid=’av-6fl144’]
While it’s possible to file for bankruptcy on your own, the process can be complex. An experienced Greensboro, NC bankruptcy lawyer can guide you through the process, help avoid pitfalls, and represent your interests.
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[av_toggle title=’How do I choose a good bankruptcy attorney? ‘ tags=” av_uid=’av-3qw8h0’]
Look for an attorney with extensive experience in consumer bankruptcy, a good reputation, and who makes you feel comfortable and confident. You may want to consider Terry Duncan or Damon Duncan, both certified specialists in consumer bankruptcy with decades of experience.
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[av_heading heading=’Want to Know More About Us?’ tag=’h2′ link_apply=” link=” link_target=” style=’blockquote modern-quote modern-centered’ size=” subheading_active=” subheading_size=’15’ margin=” padding=’10’ color=” custom_font=” custom_class=” admin_preview_bg=” av-desktop-hide=” av-medium-hide=” av-small-hide=” av-mini-hide=” av-medium-font-size-title=” av-small-font-size-title=” av-mini-font-size-title=” av-medium-font-size=” av-small-font-size=” av-mini-font-size=” av_uid=’av-2313lg’][/av_heading]
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[av_image src=’https://www.duncanlawonline.com/staging/8350/wp-content/uploads/2019/01/Terry-Duncan-Charlotte-Bankruptcy-Lawyer-5×7-72dpi-215×300.jpg’ attachment=’11676′ attachment_size=’medium’ align=’center’ styling=” hover=” link=” target=” caption=” font_size=” appearance=” overlay_opacity=’0.4′ overlay_color=’#000000′ overlay_text_color=’#ffffff’ copyright=” animation=’no-animation’ av_uid=’av-fk9lc4′ admin_preview_bg=”][/av_image]
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Terry Duncan
Since opening his firm almost 20 years ago, Terry has filed approximately 5,000 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.
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[av_image src=’https://www.duncanlawonline.com/staging/8350/wp-content/uploads/2019/01/Damon-Duncan-Bankruptcy-Attorney-5×7-72dpi-214×300.jpg’ attachment=’11677′ attachment_size=’medium’ align=’center’ styling=” hover=” link=” target=” caption=” font_size=” appearance=” overlay_opacity=’0.4′ overlay_color=’#000000′ overlay_text_color=’#ffffff’ copyright=” animation=’no-animation’ av_uid=’av-wz950′ admin_preview_bg=”][/av_image]
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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.
[av_button_big label=’Learn More About Damon Duncan’ description_pos=’below’ link=’manually,https://www.duncanlawonline.com/meet-our-team/damon-duncan/’ link_target=” icon_select=’no’ icon=’ue800′ font=’entypo-fontello’ custom_font=’#fff’ color=’custom’ custom_bg=’#113544′ color_hover=’custom’ custom_bg_hover=’#215469′ av_uid=’av-5vw0f8′][/av_button_big]
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