The Law Office of Klaus R. Johnson, based in Hillsborough, NC, helps families file for bankruptcy and earn a second chance at financial stability.
If you have serious financial problems, it is generally easiest to solve those problems now, not three months from now, not one year from now, NOW. I have worked on bankruptcy cases on both the debtor and creditor sides, and there have been many, many times where I have seen a debtor's financial situation go from bad to worse due to inaction. If you are in financial distress, call me NOW to set up a free initial consult.
117 W. King St
Hillsborough NC 27278
Klaus has worked in the bankruptcy department at Wells Fargo in the past and now counsels debtors and families how to file bankruptcy and eliminate debt.
Based in Orange County, Klaus Johnson is helping families discharge and reorganize their loans by filing for bankruptcy. When filing for bankruptcy, most people either file chapter 7 or chapter 13.
If you file chapter 7 bankruptcy, your assets (cash, possessions, car, land) are sold off to pay off your creditors. BUT, you are allowed to exempt a certain amount of property so that it won't be sold. If all of your property can be exempted, then nothing will be liquidated, and you won't pay anything more than the filing fee.
If you file chapter 13 bankruptcy, instead of your assets being liquidated, you will pay a monthly amount for 3-5 years. At the end of that time period, your remaining debt will be discharged.
Chapter 13 is typically more expensive than chapter 7, however it is sometimes necessary to file chapter 13 instead of chapter 7 if you are behind on a mortgage, your income is above average in your state, or if you have a particular asset that you do not want to lose.
If you are overwhelmed by debt, Klaus can counsel you on which chapter of bankruptcy you should file, how you can best protect your assets, and give you the best chance at future financial stability
Klaus grew up in Colorado and attended Grinnell College in Grinnell, IA, where he double majored in History and Economics. He attended law school at the University of South Carolina, graduating in 2013. Klaus has been a member of the North Carolina Bar since 2014. He is also a member of the Durham County Bar, the American Bar Association, and a Bankruptcy Section member of the North Carolina Bar Association.
Klaus worked in the bankruptcy department at Wells Fargo corporate center in Raleigh, NC from 2013-14. He then joined the Law Office of Mark Simeon from 2014-15 to focus on criminal and traffic law. In October 2015, Klaus started his own practice in Hillsborough, NC specializing in debtor bankruptcy.
Klaus lives in Durham, NC with his wife, Dr. Hanghang Wang. In addition to practicing law, Klaus is an avid chess player and teacher. He currently teaches chess three times a week at Global Scholars Academy, a title I K-8 school in downtown Durham, and once a week at the Cary Chinese School on weekends.