Chapter 7 Bankruptcy

Virginia Chapter 7 Bankruptcy

Call: 888-297-6203 A Virginia Chapter 7 Bankruptcy has a lot of moving parties. Knowing the different players and the common terminologies used can help in the process. 1) The Debtor The individual who files the petition in a Virginia Chapter 7 Bankruptcy is known as the Debtor. He is the person who seeks discharge of the debts owed to other individuals. A Debtor can be an individual or a business. A joint debtor, that is a Husband and Wife can also file together. 2) The Trustee In a Virginia Chapter 7 Bankruptcy, the person charged with the collection [...]

2023-03-30T10:11:58+00:00
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Does Bankruptcy Affect You Financially?

Call: 888-297-6203 In the situation of a financial crisis, bankruptcy may be the only door open for you for a debt-free life. But nothing comes only with benefits. Bankruptcy has both positive as well as negative consequences. Not only during the case, but even later, bankruptcy will affect your life financially. 1) Types of Bankruptcy Most people file for bankruptcy either under Chapter 7 or Chapter 13. In chapter 13, the debtor needs to file a plan as to how they schedule to repay monthly debts, or parts of it, from the income at present over 5 years. [...]

2023-05-19T07:01:14+00:00
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Are There Any Age Restrictions When It Comes To Filing For Bankruptcy?

Call: 888-297-6203 There is no age limit when it comes to filing for bankruptcy that is you can never be too young or too old for filing for bankruptcy, it is just your situations and your circumstances that will reveal whether bankruptcy is the best option or not. Legal view ? Legally all young adults and senior citizens can file for bankruptcy but it is not necessary that you should file, it all depends on your situation. It is also not necessary that the court will grant the bankrupt status or not. The most common chapters that one [...]

2023-04-19T13:30:14+00:00
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When Bankruptcy Is Filed, What Happens To Your Car?

Call: 888-297-6203 Before you file for bankruptcy, you need to find out if you will, or will not get to keep your car. This decision is dependent on several factors. 1) Is it possible that a Bankruptcy Trustee can sell my car? Yes, it is quite possible. When a chapter 7 Bankruptcy is filed, you are assigned a Bankruptcy Trustee, whose work is to see what all assets you hold, and how can he arrange them to make sure your creditors are paid. It may also include selling your car. 2) You can protect certain Assets (also your [...]

2023-03-30T10:16:41+00:00
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How To Go About Filing Under Chapter 7 And Chapter 13?

Call: 888-297-6203 If you are behind the bills and want to stop being harassed by your creditor, you can file for bankruptcy. You might have lost your job or had a sudden medical emergency and asking for help is not a shameful thing. You might think filing for bankruptcy is the end of the world for you but it is a new beginning for you that gives you a secured financial future. Chapter 7 bankruptcy? Chapter 7 bankruptcy is also called straight bankruptcy. It is mostly filed by the people who do not have a fixed income or [...]

2023-04-19T13:18:19+00:00
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Your Business And Bankruptcy

Call: 888-297-6203 As an individual, you may face a lot of financial issues, and you may think of filing for bankruptcy. You may have a lot of credit card debt also. However, when we talk of business owners it becomes very stressful to cater to financial hardships. For business owners, after a certain time, the line between personal and business finances gets mixed. 1) Common Types of Bankruptcy There are three most common types of bankruptcy, chapter 7 Chapter 11, and chapter 13. Chapter 7 Bankruptcy can be used for both an individual and a business. In Chapter [...]

2023-03-30T11:53:16+00:00
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Does Filing For Bankruptcy Help With Wage Garnishment?

Call: 888-297-6203 There are many advantages in filing for bankruptcy and wage garnishment suspension and their permanent cessations are one of the advantages. It is highly advisable to contact a good attorney and understand your case and whether or not it is good for and under which chapter you should file. The first thing that happens just after you file – In most cases, if one is eligible for it, apply for chapter 7 bankruptcy and here almost all your debts are cleared except some taxes, student loans, child support, alimony, and/or criminal fines which are suspended till [...]

2023-04-19T13:28:31+00:00
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Common Myths About Consumer Bankruptcy And Its Reality?

Call: 888-297-6203 To people, bankruptcy is a bad and shameful thing to do and should not be done but it is not true as most people have heard the common myths and have misunderstandings about bankruptcy which the creditors try to convince you because it will be their loss. Here are some common myths about bankruptcy- Bankruptcy is for people who don’t want to pay bills or have a huge amount of outstanding bills. It is not true, most of the creditors are inflexible and do not understand the debtor's situation, they want all their money immediately and [...]

2023-04-19T13:17:29+00:00
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Why You Should File For Bankruptcy Now?

Call: 888-297-6203 One benefit we can get when filing for bankruptcy is the Automatic Stay, here your creditors are notified of your filing and are asked to stop all collection efforts. Signs that indicate that you should file for bankruptcy immediately- If unemployed for a long period- If you are unemployed for an extended period and have debts but cannot pay the creditors because you can’t even meet your living expenses. If your residential property is going into foreclosure- -The main benefit as told earlier is the automatic stay; here it will also stop your property from going [...]

2023-04-19T12:16:03+00:00
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Benefits Of Filing Bankruptcy

Call: 888-297-6203 1) Getting rid of your Debts Apart from some Taxes and student loans, bankruptcy allows you to eliminate most of your debts. This process is known as "discharge" by the bankruptcy court. Once a debt is discharged, no creditor can ever ask you to repay that debt. It means that you no longer o this debt to the creditor. If taxes are old enough, certain of them can also be discharged. In rare cases, even though discharging student loans is difficult, but can be done. 2) You can keep the assets you want. Depending on the [...]

2023-04-19T13:35:29+00:00
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We help people file bankruptcy petitions to obtain relief under the bankruptcy code.