Professional Bankruptcy Services
for Wilson, Greenville, NC & the Surrounding Areas

Bankruptcy is a federal legal proceeding that can relieve a person of some or all of his or her debts. In the right situation, bankruptcy can provide people with a fresh start. However, our bankruptcy attorney knows that every case is different. The bankruptcy services at John G. Rhyne will help advise clients on the best course of action to achieve a financial reset. Our firm is proud to serve clients throughout Nashville, Elizabeth City, Rocky Mount, Kitty Hawk, Smithfield, Zebulon, Clayton, Wendell, Greenville, Washington, NC, and the surrounding areas.

Contact our office today to schedule your initial bankruptcy consultation with our Chapter 7 and Chapter 13 attorneys!

Learn More About Bankruptcy Filing Choices for Individuals

Individuals have choices about what type of bankruptcy they can file. Most individuals file a Chapter 7 case (Straight or Liquidation) or a Chapter 13 case (Wage Earner). Family Farmers may be eligible for Chapter 12 bankruptcy. Aside from these types of bankruptcy filing, there is also Chapter 11 bankruptcy, although this type of bankruptcy is designed to help businesses and other corporate entities reorganize.

Providing a wide range of bankruptcy services to individuals and corporations throughout the Greenville, Nashville, Elizabeth City, Tarboro, and Rocky Mount, NC areas, John G. Rhyne, Attorney At Law is here to answer any questions about bankruptcy services you may have. Whether you are seeking bankruptcy advice or need legal assistance with the bankruptcy filing process, John G. Rhyne is here you you.

Before you reach out to schedule a bankruptcy consultation, we've provided a basic overview of each type to help our clients understand their options.

Chapter 7

A Chapter 7 bankruptcy is commonly referred to as a straight bankruptcy. A Chapter 7 works best for people who meet the following criteria:

1) those who have a lot of unsecured debts such as credit cards, deficiencies, and medical bills;

2) those who do not make a lot of money;

3) those who do not have a lot of equity or value in their assets;

4) those who are current with their house and car payments if they want to keep the house and/or car.

The Benefits of a Chapter 7 Are Many:

1) Collection activities of your creditors stop, most likely forever!

2) Most everyone receives a discharge of your debts. A discharge is the document from the court that states you are no longer liable for your debts

3) You usually keep all of your assets

4) You usually get your discharge within 3 to 4 months of the date of filing your petition

Most cases end up as no-asset cases. This means that you most likely will keep everything you own! And, most debts are discharged. Please remember that if you want to keep your house, car, boats, etc., you will have to keep paying your house payment, car payment, or boat payment.

Learn More About Chapter 7 Bankruptcy

Chapter 11

Chapter 11 permits reorganization under the bankruptcy laws of the United States and is available to every business, including:

1) Corporation

2) Partnership

3) Sole Proprietorship

When you choose to take the route of chapter 11, you reorganize your personal assets and debts, but it can also be used as a mechanism for liquidation. Some can emerge from a chapter 11 bankruptcy within a few months while for others the process can several years. All cases start with a petition and although they can be a long process, John G. Rhyne, Attorney At Law will help make your case as simple as possible.

Chapter 13

Many people file a Chapter 13 instead of a Chapter 7 case. In a Chapter 13 bankruptcy, a person proposes a plan whereby a person pays a certain amount of money monthly to a trustee for up to 5 years. The trustee then pays the money out to the person’s creditors. There are a number of reasons that someone would file a Chapter 13 instead of a Chapter 7. Common reasons for this type of bankruptcy filing include:

1) You are behind on mortgage or car payments and you need help catching up the missed payments;

2) You have tax problems and need help fixing the problems;

3) You make too much money and do not qualify for a Chapter 7 case;

4) You haves too many assets and a Chapter 7 trustee may take them;

The Benefits of a Chapter 13 Are Many:

1) Collection activities of your creditors stop

2) Most everyone receives a discharge of their debts

3) You most likely will keep all of your assets

4) You can avoid and resolve payment issues on personal property such as loans for your car or house

Learn More About Chapter 13 Bankruptcy

Take The First Step Towards Your Future
With The Help Of Our Bankruptcy Lawyer

Bankruptcy is not a simple process. If you are facing bankruptcy, you do not have to face it alone. Offering bankruptcy advice and services to both individuals and business owners across the Elizabeth City, Greenville, Nashville, Rocky Mount, and Tarboro, NC areas, we invite clients to reach out to speak with our experienced bankruptcy lawyer before filing for Chapter 7, Chapter 11 or Chapter 13 bankruptcy. When you schedule your bankruptcy consultation, John G. Rhyne can help you explore all of your options to determine if bankruptcy is the right option for you and which type will be the best fit based on your personal circumstances.

In order to start the bankruptcy filing process, your first step would be to understand the components of your financial standing. You will need to assemble all your financial information in as much detail as possible. Financial information such as your debts, income, assets, property, living expenses, and more will be required.

If you are looking for a skilled and experienced bankruptcy attorney to provide you with advice and guidance, John G. Rhyne can help. To learn more about your options for bankruptcy services and to protect your financial well-being, call to request a consultation today.

DISCLAIMER: This site and any information contained herein are intended for informational purposes only and should not be construed as legal advice. Seek competent legal counsel for advice on any legal matter.