If your debts are keeping you awake at night, don’t put off calling us another day. We have helped thousands of clients discharge their debts and get a fresh start in life through bankruptcy. We handle Chapter 7 Bankruptcy cases and we have the knowledge and expertise to advise you and get you on the road to a happy and healthy financial future.
Chapter 7 Bankruptcy
Chapter 7 Bankruptcy is the best solution for many of our clients. It provides instant relief from collection actions and a fresh financial start. Chapter 7 Bankruptcy is less expensive than Chapter 13 Bankruptcy, and a discharge of your debts occurs much more quickly, allowing clients the fresh start they deserve. Most of our Chapter 7 clients discharge all of their debts and keep ALL of their property.
A Chapter 7 case is usually complete and closed within three months of filing. This means discharge of debts without any repayment plan or other conditions.
Requirements for Chapter 7 Bankruptcy
- You must not have filed a Chapter 7 case in the last 8 years
- Your household income must be below certain income limits (with exceptions made in some circumstances)
- You must not have substantial disposable income available to repay your debts
If you're in severe debt, it's common to have your wages and bank account garnished. Filing Bankruptcy can stop garnishment and discharge your debt!
Filing bankruptcy can help you avoid losing your car or home to repossession.
Frequently Asked Questions About Bankruptcy
1. Will I Lose My Home or Car If I File Chapter 7 Bankruptcy?
Many of our clients are concerned that they will lose their homes, cars or other property if they file a Chapter 7 Bankruptcy. A competent bankruptcy attorney can provide guidance and advice so that does not happen and you get to keep your home and other property. Most of our clients don’t lose any property during the process
2. My Wages Are Being Garnished. How Can Bankruptcy Help?
In Virginia, judgment creditors can garnish up to 25% of your wages and usually ALL of your bank account balances! Garnishments can continue until the entire judgment debt is paid, but the problem for most people is that the judgment interest and the costs of the garnishment mean that the balance owed keeps increasing even while the garnishment is in effect.
A bankruptcy filing provides immediate relief, stopping garnishments on the spot. Even better, if you act quickly enough, we can usually get your garnished money back for you! Do not wait – once the court releases the money to the creditor, it will usually be too late to get it back for you.
3. If My Car Has Been Reposessed, Can I Get It Back?
If your car has already been repossessed, you might still be able to get it back, but you must act quickly. A bankruptcy filing can stop repossession instantly and give you the time you need to catch up on your back payments and keep your car- or potentially return it.
4. Can I File Bankruptcy Without a Lawyer?
In short: yes. However, it is highly discouraged. A Chapter 7 bankruptcy petition contains around 75 pages that have to be properly formatted and timely filed according to the complex, strictly enforced and constantly changing rules of bankruptcy procedure. There are many mistakes that can be made, from lack of thorough knowledge of bankruptcy law to forgetting a portion of your debt. Sometimes all that happens is unnecessary loss of property – but serious bankruptcy fraud (accidental or not) can have you sent to prison.
5. What About Bankruptcy Petition Preparers?
The law allows “bankruptcy petition preparers” to draft bankruptcy paperwork and allows them to charge a reasonable fee for their services. However, they are NOT permitted and are NOT qualified to provide legal advice – they are only allowed to type the information you give them into forms.
Many of these businesses are not properly licenced or qualified, even though they market themselves as paralegals. Don’t take legal advice from them, and avoid using them.