Greensboro / Triad Bankruptcy Lawyers

For People in Financial Distress

Our experienced bankruptcy lawyers in Greensboro represent debtors, secured creditors, lessors, unsecured creditors and debtors in possession in Chapter 7, Chapter 11 and Chapter 13 bankruptcy cases.

Chapter 7 Bankruptcy: Also known as liquidation bankruptcy, Chapter 7 bankruptcy allows for all nonexempt property to be sold by the bankruptcy trustee so that the proceeds can be used to satisfy creditors. In order to be eligible to file Chapter 7 bankruptcy, the means test must be applied.

Chapter 11 Bankruptcy: Also known as reorganization bankruptcy, Chapter 11 bankruptcy allows businesses or corporations to retain control over their operations (debtor in possession) but operate with the oversight of the Bankruptcy Court while reorganizing the business to arrange for payment of their creditors.

Chapter 13 Bankruptcy: Also known as a wage earner's plan, this is an option if you do not qualify for Chapter 7 bankruptcy, have a regular income but are unable to pay your creditors. Chapter 13 bankruptcy allows the debtor to retain their property while entering into a payment plan to repay their creditors. At such time as your payment plan is culminated, and so long as you meet certain other criteria, any remaining debt owed to your creditors at the end of your payment plan that can be discharged will be discharged.