Learn more about the bankruptcy process.
If you are struggling with debt, you may feel like there is no way out. This can make it harder to achieve financial goals, such as investing, purchasing real estate, or even buying vehicles. Divorce, job loss, medical situations, and other difficult life events can result in excessive debt, and we want you to know there is a way to move forward.
At Piervincenti & Tarantino Law, PLLC, we want you to know that bankruptcy can provide a way to secure financial relief from excessive debt. We can provide you with more information about bankruptcy basics, so you feel confident about moving forward with this legal process in the Cornelius, North Carolina area.
One of the main bankruptcy basics we try to communicate to our clients is that there are two types of consumer bankruptcy: Chapter 7 and Chapter 13. When you file Chapter 7 bankruptcy, you can get certain unsecured debts forgiven, such as medical and credit card debt. When you file Chapter 13 bankruptcy, the court allows you to set up a repayment plan that lasts a certain number of years. When you finish this time period, you get the remaining balances on your debts forgiven.
Bankruptcy is only the beginning of improving your finances and moving forward. To find out if bankruptcy is right for you or learn about more bankruptcy basics you should know going into this process, contact our law firm today.