Bankruptcy Types: Which is Best for You?
Call Daryle A. Walker, Attorney at Law, any time to schedule an appointment. 843-357-8530.
Attorney Daryle Walker is a reliable and cost-effective bankruptcy lawyer based in Myrtle Beach.
He is dedicated to providing each client with personalized attention and trustworthy legal assistance.
With more than 35 years of experience as a bankruptcy attorney, representing both individuals and businesses, you can trust Daryle Walker to manage your bankruptcy case with care and expertise.
The initial consultation is complimentary, so there’s no reason to postpone discovering whether bankruptcy could be a solution for you.
Attorney Daryle A. Walker, a trusted bankruptcy attorney in Surfside Beach, SC, offers affordable, personalized, and reliable bankruptcy representation. For over 35 years, Daryle has been providing legal services with care, detail, and integrity. Daryle handles each case – it’s never handed off. Your first consultation is free, so there’s no reason to wait when you’re facing serious financial hardships.
When you’re falling behind on mortgage payments or managing overwhelming credit card debt, finding a qualified bankruptcy firm can feel like a burden, but it’s a necessary first step. Relief will come when you are working with a trusted and experienced bankruptcy attorney who will protect your rights and ensure your case is handled with precision.
Daryle A. Walker is a seasoned bankruptcy lawyer with extensive knowledge of Chapter 7 and Chapter 13 bankruptcy law. He will guide you through the process, accurately file your paperwork, and ensure deadlines are met. Your case will be managed with skill and attention to detail from start to finish.
We get it; you’re focused on saving every dime, and filing for bankruptcy on your own may seem like a way to save money, but it often leads to costly mistakes. Bankruptcy laws are complex, and stepping out of compliance can cause your case to be delayed, dismissed, or worse - loss of your assets. Daryle A. Walker will ensure your case is handled correctly and will maximize your financial protection.
As a leading bankruptcy attorney in Surfside Beach, SC, Daryle A. Walker is committed to protecting his clients’ financial futures. Specializing in filing personal or business bankruptcy, he will handle your case quickly, discreetly, and with compassion, allowing you to move forward with confidence.
Understanding Chapter 7 and Chapter 13 Bankruptcy
Bankruptcy is an effective tool to relieve overwhelming debt, but it’s essential to file the right type according to your financial needs and goals. Chapters 7 and 13 have distinct advantages. Chapter 7 offers a clean slate by removing most unsecured debts. Chapter 13 creates a court-approved repayment plan to catch up on missed payments for debt management. To understand which type is best for you, consult with Daryle A. Walker, Attorney at Law. Daryl has guided many clients through the complicated maze of protecting assets and gaining financial control through bankruptcy in Surfside Beach and the surrounding areas. The first consultation is free, so there’s no reason to delay.
Chapter 7 Bankruptcy
Chapter 7 bankruptcy, or liquidation bankruptcy, enables individuals and businesses to clear out most unsecured debts (credit cards, medical bills, and personal loans) for a reset with a clean financial slate.
Advantages of Chapter 7 Bankruptcy:
- A fresh start by wiping out qualifying debts
- Future income is protected (after the case is filed)
- No upper debt limit for filing
- No repayment plan required
Qualifying for Chapter 7 involves comparing your income to the median income in South Carolina. When your disposable income is below a set threshold, you may be eligible. You must also pass a credit counseling test administered by an approved agency. Attorney Daryle A. Walker will walk you through the entire qualification process during your consultation.
Chapter 13 Bankruptcy
Chapter 13 bankruptcies will reorganize your debts and set up a customized repayment plan for all or part of your debts. It’s an ideal plan when you’re trying to prevent foreclosure, catch up on missed payments, or settle certain tax obligations while maintaining ownership of your property.
In contrast to Chapter 7, Chapter 13 will not liquidate assets. Instead, it’s a structured debt relief plan supervised by the bankruptcy court. There are provisions for surrendering property under a lien or mortgage, settling taxes, or debts. An in-depth consultation with an attorney is necessary to understand how Chapter 13 can be customized to your financial needs.
Benefits of Chapter 13 Bankruptcy:
- Prevents foreclosure and allows you to catch up on mortgage arrears
- Reschedules secured debts (excluding your primary home mortgage)
- Protect so-signers from collection
- Can lead to a better credit recovery compared to Chapter 7
- Operates like a consolidation loan
- Provides a structured line of communication with creditors with a court-appointed trustee
To qualify for Chapter 13, you must have a regular income and meet the required debt limits. Chapter 13 bankruptcy is designed for individuals or businesses that have assets they wish to keep or income high enough to repay some of their obligations. Daryle A. Walker is a highly experienced Chapter 13 attorney serving Surfside Beach and surrounding communities.
Legal Obligations Before Filing for Bankruptcy
There are two legal requirements to complete before your bankruptcy case can move forward:
- Credit Counseling. A credit counseling session from a government-approved agency must be completed within 180 days before your petition.
- Certificate of Completion. A certificate of completion, validating your credit counseling participation, must be submitted by your attorney to the bankruptcy court.
Daryle A. Walker, Attorney at Law, will guide you through these steps with confidence, ensuring the necessary documentation is correct and submitted on time.
As the most reliable and affordable bankruptcy lawyer in Surfside Beach, Daryle delivers personalized legal representation for individuals and businesses needing debt relief.