Nobody wants to file for bankruptcy, but if you can’t pay your bills and you’re being harassed by creditors, bankruptcy might be your best recourse for getting your financial life back on track. The experienced Virginia lawyers at Tucker Griffin Barnes in Charlottesville have helped thousands of clients throughout the area get fresh financial starts. Our knowledgeable debt-relief attorneys will examine your situation to determine if Chapter 7 bankruptcy is a viable option for your situation. If it is, we will guide you through every step of the process.
What is Chapter 7 bankruptcy? It is a debt relief process that discharges, or eliminates, unsecured debt such as credit card bills, medical debt and some personal loans. It usually does not discharge certain other types of unsecured debt including child support, taxes and most student loans. Chapter 7 also can’t be used to discharge home mortgages or other secured debt such as car loans. Nonexempt property might be liquidated to help pay debts as part of the Chapter 7 process. When we meet with you, we will review your debt situation to determine what debt may be discharged in a Chapter 7 filing and what property may be exempt from being sold under Virginia law.
To qualify for Chapter 7, you must qualify under the means test. This standard examines a debtor’s income and assets to determine if the extraordinary relief provided by Chapter 7 is warranted. If your financial status makes you eligible under the means test, you qualify for debt discharge, assuming you haven’t filed for Chapter 7 bankruptcy in the past eight years or Chapter 13 in the past six. The means test process can be confusing. If you don’t capture your information correctly, you may not qualify. Our lawyers will work with you to ensure that all of your financial data, including your expenses, are accurately documented and we will file the paperwork with the bankruptcy court for you.
A Chapter 7 bankruptcy filing can take up to about six months to complete. During this time, you are not responsible for paying debts that will be discharged. The process includes:
You will also be expected to take credit counseling courses during the process. From start to fnish, we will ease any fears you have and make sure you are aware of the rules that govern the debt discharge process.
Tucker Griffin Barnes helps Virginians who are in difficult financial situations file Chapter 7 bankruptcy to discharge unsecured debt. We have three offices conveniently located in Charlottesville, Palmyra (Across from Food Lion), and Harrisonburg. To schedule a free consultation, call our firm at 434-973-7474 or contact us online.
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