Bankruptcy Lawyers in Colonial Heights, VA
Nationally Recognized Bankruptcy Attorneys in Colonial Heights.
Compassionate Colonial Heights Bankruptcy Lawyers Helping You Get a Financial Fresh Start.
Wipe Out Debt & Secure Your Future With The Right Colonial Heights Bankruptcy Attorney
Navigating debt collection and financial hardship can be incredibly stressful and daunting. Luckily, you don’t have to face it by yourself.
Veronica and Steve, the founders of Financial Freedom Legal, are respected Colonial Heights bankruptcy attorneys with over 20 years of combined experience. They are committed to guiding you through your financial challenges. Read More + Our Colonial Heights bankruptcy attorneys, Steve and Vee, can also help protect your assets from seizure, including your home, car, utilities, and bank accounts. The idea of filing bankruptcy can be scary, and that’s perfectly understandable. Financial Freedom Legal offers free consultations to answer your questions and thoroughly explain the process. Read Less -
Chapter 7 & 13 Advice From The Best Bankruptcy Lawyers in Colonial Heights VA
Chapter 7 or Liquidation Bankruptcy
Chapter 7 bankruptcy, also known as liquidation bankruptcy, offers the potential to eliminate many debts, without repayment to creditors. Dischargeable debts after a successful case include credit cards, medical bills, payday loans, cash advances, internet loans, personal loans, and judgments.
While secured debts like mortgages and car loans may be included in the filing, you can typically only stop payments if you surrender the vehicle or property to the lender. Chapter 7 also provides automatic protection from creditor actions like wage garnishments, debt collection warrants, utility shut-offs, and further collection attempts
It’s important to note that before you choose to pursue Chapter 7 you should understand the income eligibility requirements and potential for asset liquidation. While Financial Freedom Legal can often help shield your property, a thorough evaluation of your financial situation is crucial to determine the best course of action for your specific case.
Chapter 13 or Plan of Reorganization
Also known as a wage earner’s plan, Chapter 13 bankruptcy empowers you to manage your debts according to your own circumstances.
Following through with a Chapter 13 filing puts a stop to collection efforts while we help you create a personal payment plan based on your income and outstanding debts. This ensures affordability throughout the process. You’ll have three to five years to chip away at your debts, with the potential to discharge any remaining balance at the end.
While Chapter 13 takes longer to complete compared to Chapter 7, it offers the benefit of restructuring a broader range of debts while safeguarding your assets. Chapter 13 allows you to catch up on missed mortgage or rent payments and potentially eliminate liens on your personal property.
Feeling overwhelmed by debt? Contact Financial Freedom Legal for a free consultation to explore if Chapter 13 bankruptcy is the ideal solution for your financial situation.
What Kind of Debts Are Addressed Through Bankruptcy?
Foreclosure
Struggling with mortgage payments? Bankruptcy can halt foreclosures and give you the chance to reorganize payments.
Repossession
Is your lender threatening to repossess your vehicle? You can keep your vehicle and get back on track with payments by filing for Chapter 13 bankruptcy.
Garnishment
Don’t lose your hard-earned money to aggressive debt collections. Keep paychecks in your pocket by filing for bankruptcy.
Tax Debt
Tax code is overwhelming and the government has more freedom to collect on unpaid debts than other lenders. Get ahead of tax debts by filing for bankruptcy.
Money Collection
When you’re overwhelmed by creditor calls, emails, and letters, it’s time to seek help. Bankruptcy not only halts debt collections but also provides debt settlement options.
Eviction
Rent is typically one of your largest expenses each month. With so much of your income going towards housing, it can be easy to fall behind. Don’t let missed rent leave you without a home.
Warrant in Debt
Don’t be overwhelmed by court judgments. Stand up to creditors who want to force payments you can’t handle. Opt for bankruptcy to put an end to their tactics and potentially erase your court debt.
Utility Disconnection
When the utility bills start to pile off, you don’t want your services to start shutting off. Keep the lights and settle missed payments through bankruptcy.
Student Loan Debt
Your student loans don’t need to be a constant struggle. Financial Freedom Legal can assist you in filing for bankruptcy to put a stop to collections.
Overwhelming Debt
Are you ready to unlock financial freedom? You deserve the relief and peace of mind that debt liquidation or reorganization can bring you.
Helping Caroline, VA Through Bankruptcy
After contemplating using the service of Financial Freedom Legal, and consulting with Veronica I decided that my circumstances didn’t necessarily require going this particular route, but if I ever find myself going in that direction Veronica and Financial Freedom Legal will be the company that I will do business with.
Caring Bankruptcy Attorneys in Colonial Heights VA
Helping You To Acheive Financial Well-Being
Financial Freedom Legal goes beyond legal representation. We strive to bring you relief and empower you towards financial peace of mind.
Our network extends beyond just lawyers. We connect you with a community of Colonial Heights specialists and organizations dedicated to bankruptcy, debt relief and financial support to give you the resources and guidance necessary to achieve holistic financial well-being.
Debt can be a cause of bigger financial challenges. Financial Freedom Legal stands by your side, offering support and connections to our trusted partners in the Colonial Heights community. Through our combined expertise, we can help you rebuild your credit, secure housing, navigate car purchases, manage taxes, and even explore Social Security disability options.
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 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.
Areas We Serve
Amelia, Brunswick, Caroline, Charles City, Chesterfield, Colonial Heights, Dinwiddie, Emporia, Essex, Fredericksburg, Goochland, Greensville, Hanover, Henrico, Hopewell, King and Queen, King George, King William, Lancaster, Lunenburg, Mecklenburg, Middlesex, New Kent, Northumberland, Nottoway, Petersburg, Powhatan, Prince Edward, Prince George, Richmond(city), Richmond (county), Spotsylvania, Surry, Sussex, Westmoreland
Get Your Free Consultation Today From The Best Bankruptcy Lawyers in Colonial Heights
Feeling lost in financial struggles? You’re not alone. At Financial Freedom Legal, we’re here to support you.
Let us take the weight off your shoulders. Schedule a free consultation to discuss your unique financial situation and concerns. We’ll explain how bankruptcy can safeguard your interests and offer solutions to resolve your debt.
Richmond Bankruptcy Help
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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Where We Help With Bankruptcy in Richmond
Amelia, Brunswick, Caroline, Charles City, Chesterfield, Colonial Heights, Dinwiddie, Emporia, Essex, Fredericksburg, Goochland, Greensville, Hanover, Henrico, Hopewell, King and Queen, King George, King William, Lancaster, Lunenburg, Mecklenburg, Middlesex, New Kent, Northumberland, Nottoway, Petersburg, Powhatan, Prince Edward, Prince George, Richmond(city), Richmond (county), Spotsylvania, Surry, Sussex, Westmoreland
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