Compassionate Bankruptcy Lawyers in Lancaster, VA
Attorneys Guiding Lancaster County Residents Through Bankruptcy
Overwhelmed by Debt? You Have Options
Do you feel trapped by debts, unpayable bills and relentless creditors? You don’t have to live in dread of your finances forever. You deserve relief, it’s time to use bankruptcy as your path to a less stressful future.
Thousands of Virginians use bankruptcy to start their financial comeback every year. It offers a chance to break free from the debt cycle and build a solid financial foundation. By resolving or creating a plan to repay what you owe, you can finally silence those pestering creditors.
Financial Freedom Legal offers the best bankruptcy services in Lancaster County. Our qualified attorneys, Steve Relyea and Veronica Brown-Moseley, have many years of experience navigating the complexities of bankruptcy. Their compassionate and personalized approach helps you move toward long-term financial well-being.
Ready to reclaim your financial freedom? Schedule a free consultation today. We’ll explore how bankruptcy can shield you from creditors and pave the way toward resolving your debt.
Understanding Your Bankruptcy Options: Chapter 7 and Chapter 13
Chapter 7 Bankruptcy Attorneys
Chapter 7 bankruptcy, often called liquidation bankruptcy, focuses on eliminating dischargeable debts, giving you a fresh start. This option is often suitable for individuals in Lancaster with limited income and assets.
Many types of unsecured debts—such as credit card balances, medical expenses and personal loans—can be completely discharged through Chapter 7 bankruptcy.
While Chapter 7 may involve the liquidation of certain property, Financial Freedom Legal can often help you protect essential assets like your home and vehicle through legal exemptions.
Filing for Chapter 7 bankruptcy initiates an “automatic stay,” which immediately halts creditor harassment, collection attempts, lawsuits and wage garnishments. Schedule a free consultation to see if Chapter 7 is the right solution for you.
Chapter 13 Bankruptcy Lawyers
Chapter 13 bankruptcy, also known as reorganization bankruptcy, allows you to create a manageable repayment plan, typically spanning three to five years. This option often suits individuals in Lancaster who have a steady income and wish to retain their assets, such as their home.
With Chapter 13, you can restructure your debts into a court-approved repayment plan tailored to your income and expenses, allowing you to keep valuable assets like your house and car while addressing your financial obligations.
If you’ve fallen behind on mortgage payments, Chapter 13 can help you get back on track and avoid foreclosure.
In some cases, Chapter 13 can even help reduce your monthly payments to creditors.
Many types of debt can be fully resolved by the end of your three-to-five-year repayment plan. To determine if Chapter 13 is the right fit for your needs, schedule a free consultation today.
How Can Bankruptcy Help You With Debt Relief in Lancaster?
Experience Bankruptcy Relief in Lancaster County, VA
When used correctly, bankruptcy is a transformative legal tool designed to protect you from losing your financial stability. Financial Freedom Legal’s team of trusted bankruptcy attorneys works tirelessly to protect your assets and help you get the relief you need. We always have your back.
Financial Freedom Legal stands out against other bankruptcy lawyers in Lancaster, our team offers:
A Path to Stopping Creditor Harassment
An automatic stay will stop collection calls and lawsuits. It can even block attempts to garnish your wages, ensuring your paychecks make it to your pocket. You’re granted an automatic stay by filing Chapter 7 or Chapter 13 bankruptcy.
Highly Experienced Attorneys
Veronica and Steve are dedicated to providing compassionate and effective legal representation. Combined they have decades of meaningful experience in bankruptcy law.
Personalized Solutions
We’ll tailor our approach to meet your unique needs. You deserve a personalized bankruptcy experience. Our lawyers get to know you and your finances to ensure you’re presented with all the best options to choose from.
Community Support
Financial Freedom Legal partners with industry experts to help provide you with resources for next steps such as buying a house or a car.
Free Consultation
We’ll discuss your situation and determine the best bankruptcy option for you. Call 804-FREEDOM (804-373-3366) to schedule your consultation today.
Helping Lancaster, 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.
Answering Your Top Bankruptcy Questions in Lancaster County
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
Take the First Step Toward a Debt-Free Future with Bankruptcy Attorneys in Lancaster, VA
Don’t let debt dictate your life. Contact Financial Freedom Legal today for a free consultation and learn how bankruptcy can help you achieve financial peace of mind. We’re here to support you every step of the way.
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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