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Filing for Chapter 7 bankruptcy doesnt have to be super complicated, and the entire process may only take about four to six months from start to finish. You can also file for bankruptcy without hiring a lawyer.
In North Carolina a judgment accrues 8% interest from the time it is entered. Judgment can be enforced by execution/through Court process. A creditor with a judgment can attempt to use some of your property to pay the judgment. However, the creditor MUST use the Court system before getting access to your property.
Steps to Filing Bankruptcy Process in NC Collect Documents Evaluate Options Get Credit Counseling File Bankruptcy Petition Appointment of Trustee Attend Creditors Meeting Administering the Bankruptcy Attend Debtor Education Class
Filing for Chapter 7 bankruptcy doesnt have to be super complicated, and the entire process may only take about four to six months from start to finish. You can also file for bankruptcy without hiring a lawyer.
Collect Your North Carolina Bankruptcy Documents. Take a Credit Counseling Course. Complete the Bankruptcy Forms. Get Your Filing Fee. Print Your Bankruptcy Forms. File Your Forms With the North Carolina Bankruptcy Court. Mail Documents to Your Trustee. Take a Debtor Education Course.
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The typical lawyer in North Carolina charges between $65 and $362 per hour. Costs vary depending on the type of lawyer, so review our lawyer rates table to find out the average cost to hire an attorney in North Carolina.
Properties that may be exempt from Taxation Real and personal property used for religious purposes (NCGS 105-278.3) Real and personal property used for educational purposes (NCGS 105-278.4) Real and personal property of religious educational assemblies used for religious and educational purposes (NCGS 105-278.5)
Property owned as tenants by the entirety is exempt without any equity limit with respect to the debts of one spouse (ex. your spouse has a judgment against her for a credit card debt but you are not listed on the judgment and the property is owned by the entirety).
Chapter 11 Fees Attorney fee (paid either before or after filing)$10,000-$25,000Filing fee to bankruptcy court$1,738Mandatory credit counseling course fee (if the debtor is an individual)$25Quarterly fees paid to the bankruptcy courtStarting at $325
How Much Does Bankruptcy Cost? Type of BankruptcyFiling FeesAttorney FeesChapter 7$338$1,450Chapter 11$1,738$18,000Chapter 13$313$3,000

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