Knowledgeable Bankruptcy Attorneys in Petersburg, VA
Lawyers Dedicated to Helping You Reach Financial Freedom
Get Help Settling Your Overwhelming Debts
When you feel like your finances are out of your control, it can be isolating and stressful.
If your debts are unpayable, you start to receive harassing calls, emails and letters from credit collectors.
Don’t let greedy lenders garnish your wages, repossess your property or foreclose your home.
Put bankruptcy to work for you. Filing bankruptcy can bring collections attempts to a full stop. It also sets you on track for either eliminating your debt or restructuring it to make payments more affordable.
Financial Freedom Legal’s team of lawyers guides you through the bankruptcy process, offers expert advice and helps defend you from aggressive creditors. Our support doesn’t stop with bankruptcy, you can work with our network of financial experts and aids to create a roadmap towards stability.
Bankruptcy Options in Petersburg, VA
Chapter 7 or Liquidation Bankruptcy
Certain unpaid debts can be completely eliminated through Chapter 7 bankruptcy. You could use this form of bankruptcy to discharge debilitating debts such as credit cards, medical bills, payday loans, cash advances, internet loans, personal loans, and judgements.
Chapter 7 relief starts right away. Your creditors are required to immediately stop all debt collections as soon as you file.
Wondering where the liquidation nickname comes from? That refers to the fact that some filers may be required to give up property in order to repay their debts.
Set up a free consultation with Financial Freedom Legal to find the best solutions for your financial problems. Our team is dedicated to protecting your property and helping you resolve your debts in Petersburg, Va.
Chapter 13 or Plan of Reorganization
Is your debt repayment plan unmanageable? If your monthly payments are too high, filing Chapter 13 bankruptcy can help you create a more reasonable plan.
This form of bankruptcy helps you reorganize debts into attainable monthly payments over a period of 3 to 5 years. In most cases you are no longer required to repay the full amount of the debts, just whatever you can over the reorganized period of time. Your monthly payments are also usually less than what you had to make before.
Chapter 13 does not carry a risk of property loss and it allows you to address a wider range of debts than Chapter 7.
Financial Freedom Legal helps you act quickly and supports you through the entire bankruptcy process. Our lawyers work to find the best relief for you and get you back on your feet.
How Can Our Petersburg Bankruptcy Attorneys Help You?
Foreclosure
Are missed mortgage payments putting your home at risk of foreclosure? You owe it to yourself to try to protect your property and source of shelter. Bankruptcy is a powerful tool you can use to help stay in your home.
With help from Financial Freedom Legal you can file for Chapter 13 bankruptcy and create a plan to catch up on your mortgage payments that works for you.
Garnishment
If you’re trying to pay off debts and cover your essential costs, the last thing you need is less money coming into your bank account each month. Creditors are relentless and for certain owed debts, they may start garnishing wages straight from your paychecks.
Put a stop to this by filing bankruptcy. Financial Freedom Legal can help you use bankruptcy to regain your footing, get your money back and find a fair solution for your financial problems.
Collections
Are creditors constantly calling, emailing and writing to you about your unpaid debts? Do you need to put a stop to their contacting and garnishing? Bankruptcy can halt money collections.
Financial Freedom Legal will help you file and renegotiate your debts so you can stop the collection calls for good.
Warrant in Debt
Is your creditor trying to take you to court over unpaid debts? Take action before a creditor can ask the court for a judgment against you or garnish your money.
Filing bankruptcy requires creditors to stop and can even completely cancel your scheduled court date. Financial Freedom Legal’s attorneys help you fight back and prevent creditors from collecting your money.
Student Loan Debt
It can be difficult to eliminate student loan debt but when payments become too much, bankruptcy may still be a great option for finding relief. Filing bankruptcy can protect you from collection letters, collection calls, court action and garnishments to your wages or bank accounts.
Financial Freedom Legal helps you navigate this especially complex form of loans.
Repossession
When you fall behind on a car loan your lender can swoop in and repossess your vehicle. Without a car in Petersburg, it can be increasingly difficult to meet needs such as getting to work and the store.
Financial Freedom Legal’s bankruptcy attorneys in Petersburg, VA help you find ways to keep your vehicle and reevaluate your payments.
Tax Debt
Do you dread tax season each year? Are you behind on making required payments? It might be time to consider reorganizing these debts.
Find a solution for paying off or discharging your tax debts with help from Financial Freedom Legal. Our expert bankruptcy attorneys in Petersburg help you determine the best bankruptcy path for resolving your tax debts.
Evictions
Falling behind on rent can be stressful and seem like the end of having reliable housing. Don’t let your landlord make you feel powerless against them.
You can use bankruptcy to fight for your lease and catch up on missed payments. Financial Freedom Legal walks you through the Chapter 13 bankruptcy process and can find you opportunities for holding onto your housing.
Utility Disconnection
Running water and operational electricity are key to meeting your basic needs. These essential services can be upended by utility providers when bills go unpaid.
If you file for bankruptcy, the utility companies will have to immediately reconnect your services. Financial Freedom Legal partners with you to help keep your lights on.
Overwhelming Debt
Are your debts ruining your peace of mind and encroaching on your life? You deserve relief and a chance at a financial comeback. Bankruptcy allows you to discharge or reorganize your debt and get back on track.
If you are fed up with debts and ready to get a fresh start, Financial Freedom Legal’s attorneys are here to help.
Serving All of Petersburg
Our bankruptcy attorneys will help residents throughout Petersburg including near, but not limited to:
Near Petersburg Sports Complex, Near Westover Park, Near Westbourne, Near Western Hills, Near Woodmere, Near Walnut Hill, Near Weschester, Near Bon Secours – Southside Medical Center, Near Berkeley Manor, Near Petersburg National Battlefield and Near Petersburg Public Library.
Petersburg Bankruptcy Attorneys Supporting You with On-Going Partnerships
Financial Freedom Legal has an unwavering commitment to assisting Petersburg residents with getting a fresh start. Many bankruptcy attorneys are only focused on your case and not your overall financial needs. Bankruptcy is part of the process of recovering from financial debts but not the last step in your journey.
Once you’ve put a stop to garnishments and collections and found the right path for resolving or reorganizing your debt, it’s time to consider next steps such as:
- Financial planning
- Getting approval for new loans
- Home buying
- Vehicle purchases
- Rebuilding your credit score
Our experienced bankruptcy attorneys in Petersburg, VA will listen to your concerns, answer your questions, and create a customized strategy tailored to your unique needs. Start our holistic bankruptcy process today with a free consultation.
Bankruptcy Questions
Will I lose my house if I file bankruptcy?
No, it is entirely possible to file bankruptcy and keep your home. For many people, protecting your home is the number one priority, and our team has your back.
In many cases, filing bankruptcy may actually help to protect your home by helping you to catch up missed mortgage payments or pay other debts that may be affecting your home, such as delinquent real estate taxes, homeowner’s insurance, or homeowner’s association dues.
Will filing for bankruptcy ruin my credit forever?
No, filing for bankruptcy will not ruin your credit forever. It will almost certainly impact your credit upon filing, but in the long run, it may actually put you in a better position to be able to rebuild your credit.
If you are faced with overwhelming debt or you are having trouble keeping up with your monthly bills, filing bankruptcy can help you get rid of your debts or set up a plan to repay them in a way that is affordable for you.
Once those debts are eliminated or under control, you will be in a better situation to be able to really start working to rebuild your credit. Rebuilding your credit after filing bankruptcy is important, and our team is here to provide advice and help get you on the pathway to credit re-establishment and financial freedom.
Can I buy a house after I file bankruptcy?
Yes, you are able to buy a home after you file bankruptcy. You may need to wait a certain period of time—usually a year or two after filing a bankruptcy case—before lenders will be willing to approve you for a mortgage loan, but you may be able to get approved for a mortgage loan even while you are still going through the bankruptcy process, subject to approval by the bankruptcy court.
The Federal Housing Administration (FHA) has also established specific guidelines that set forth the rules and criteria for buying a house after filing a bankruptcy. We are happy to help you learn more about the process, provide guidance along the way, and connect you with our community partners that can assist you in your home-buying journey.
Should I put my house, car, or other property in someone else’s name before filing bankruptcy?
No. Please, do not transfer the deed to your house, title to your car, or ownership of any other property to someone else before filing bankruptcy.
Any changes in ownership made prior to filing bankruptcy could be very problematic, may cause you to lose that property, and potentially prevent you from being able to get the help you need.
Please talk with us about your options at a free bankruptcy consultation before you make any major changes.
Can I get rid of tax debt in bankruptcy?
Sometimes, some tax debt will be eliminated without repayment in bankruptcy. Other tax debt, typically more recent tax debt, will need to be repaid.
You will be set up with a bankruptcy plan to help resolve tax debts and get your life back on track.
Will I lose my car if I file bankruptcy?
No, it is entirely possible to file bankruptcy and keep your car. Having transportation is extremely important and Financial Freedom Legal will work with you to find options that will protect your property.
If your car loan payments are behind, filing bankruptcy can actually help you prevent repossession and keep your car. It is also possible in some cases to keep your car and adjust your loan payment terms so that you end up paying less on the car loan than would be due under the original loan terms.
Does my spouse have to file bankruptcy if I file bankruptcy?
No, your spouse does not have to file just because you file bankruptcy. However, the bankruptcy court may require that you provide some financial information about your spouse when you file your individual case.
If you are married and file bankruptcy individually, your spouse’s debts will not be impacted by your bankruptcy case. Debts that are joint between you and your spouse will be addressed in your bankruptcy, but your bankruptcy will only affect your liability on those debts.
Therefore, if you are discharged from a debt that is joint with your spouse, your spouse will be responsible for paying any portion of the joint debt that remains after your bankruptcy case is over.
Can I finance a vehicle after filing bankruptcy?
Yes, filing bankruptcy does not prevent you from financing a vehicle in the future. Vehicles don’t run forever, so it is actually quite common for people to finance the purchase of vehicles after filing bankruptcy, whether it is a chapter 7 or chapter 13 bankruptcy.
In some cases, you may need to get permission from the bankruptcy court. Financial Freedom Legal will walk you through that process and take the steps necessary to get the court’s approval.
Will my student loans go away if I file bankruptcy?
Probably not. There are some rare circumstances in which some student loan debts can be fully or partially discharged. But in most cases, bankruptcy will not eliminate any portion of your student loan debt.
Our team will gladly evaluate and discuss your specific student loans with you. Even if filing a bankruptcy will not eliminate your student loan debt, it can still help if you have fallen behind on your student loan payments.
As long as you are in an active bankruptcy case, you will not be required to make student loan payments, and creditors will not be allowed to bother you with collection calls or other collection actions.
Should I just pull funds out of my retirement account to pay off my debts?
No. Please do not give away your retirement funds to creditors. Retirement funds are fully protected in bankruptcy under state and federal laws.
Bankruptcy Lawyers Helping Petersburg VA Residents Reach Financial Recovery
Pressing financial problems can create new hardships and bring on unanticipated levels of stress. You should never feel stuck facing overwhelming debts on your own.
Bankruptcy offers you debt repayment possibilities that fit your needs and meets you in the middle.
Financial Freedom Legal’s experienced bankruptcy lawyers are your reliable partners throughout the entire process.
Our attorneys stick by you from the time you decide to file to finding financial advice after you’ve resolved your debts. Call us at 804-FREEDOM to set up a free consultation and begin your journey to financial freedom.
Local Petersburg Bankruptcy Attorneys in the News
Financial Freedom Legal’s team of nationally recognized bankruptcy attorneys has been highlighted in local news for their ongoing commitment to serving the community.
With a focus on compassion and extensive expertise in bankruptcy law, the firm is committed to helping individuals in the Petersburg area navigate challenging financial situations and achieve true financial freedom. Our work provides an important service, offering a path towards a fresh start for those facing overwhelming debt.
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Chapter 7 Bankruptcy, Chapter 13 Bankruptcy, Foreclosure, Repossession, Garnishment, Evictions, Collections, Warrant in Debt, Student Loan Debt, Tax Debt, Utility Disconnection, Overwhelming Debt,
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