Premier Bankruptcy Lawyers in Henrico, VA
Experienced lawyers ready to get you back on your feet
Start Your Journey to Financial Freedom
Facing overwhelming debts can be exceptionally stressful. Calls from creditors, wage garnishments, repossessions and foreclosures can be scary to deal with.
Take back control of your life and finances. Put a stop to the harassing calls and aggressive collections attempts.
Bankruptcy is an extremely impactful financial tool that can act as the missing piece to your financial plan. You can file bankruptcy to eliminate your debts or develop an affordable repayment plan.
Financial Freedom Legal helps Henrico residents protect their property, stop garnishments, halt utility disconnections and begin their journey to financial freedom. Our team of talented lawyers can guide you through the bankruptcy process and provide you with the resources to achieve your financial goals.
Understanding Bankruptcy
Law in Virginia
Chapter 7 or Liquidation Bankruptcy
Chapter 7 bankruptcy may enable you to eliminate many types of debts without any repayment. Generally you are able to discharge debts such as credit cards, medical bills, payday loans, cash advances, internet loans, personal loans and judgments.
Without those debts holding you down, you can focus on maintaining your monthly household obligations and saving money. Your relief starts immediately! As soon as you file for bankruptcy, an automatic stay comes into effect, which stops all debt collections.
Chapter 7 is often referred to as a liquidation because property that can not be protected under the law can be in danger of being sold to repay your debts.
At the free consultation, our lawyers will review your specific financial circumstances to ensure that you would not be in any danger of losing property prior to moving forward with a Chapter 7 case.
Additionally, if it is determined that Chapter 7 would put your property at risk, we would help you explore other options to resolve your debts, including Chapter 13 bankruptcy.
Don’t wait to get the legal guidance you need to understand your rights and what you’re entitled to under the law. Financial Freedom Legal is happy to help you protect your property, resolve your debts and gain peace of mind.
Chapter 13 or Plan of Reorganization
If your monthly debt payments have become too much, Chapter 13 can help you develop an affordable repayment plan and keep all of your property.
Under Chapter 13, you would make one payment each month for a period of 3 to 5 years. Often, people are not required to pay their debts in full and the monthly payment amount is commonly less than the minimum monthly payments that would be required outside of bankruptcy.
Unlike Chapter 7, there is no risk of property loss. Additionally, a wider range of debts can be resolved through Chapter 13.
Filing a Chapter 13 bankruptcy, in most cases, can stop creditors from foreclosing on or evicting you from your home, repossessing your vehicle or other property, garnishing your wages or bank account, enforcing a tax levy, disconnecting your utilities, continuing a court action against you such as a warrant in debt and continuing collection efforts against you, such as letters and calls.
Financial Freedom Legal makes sure you don’t have to go through this battle alone. Our team is here to help you protect your rights, find the best bankruptcy option for you and begin on your path to financial freedom.
How Can Our Bankruptcy Lawyers Help You?
Foreclosure
If you’ve fallen behind on your mortgage payments, your home could be in danger of foreclosure. There are laws that allow your mortgage company to sell your home in order to collect money owed.
Filing bankruptcy can stop foreclosure and help you protect your home. Additionally, Financial Freedom Legal can develop a bankruptcy plan that allows you to catch up on the missed mortgage payments over a 3 to 5 year period.
Don’t deal with your mortgage company alone. Our bankruptcy lawyers can help you protect your home, alleviate your stress and begin your journey to financial freedom.
Repossession
Vehicle loss can impact your ability to get to work, buy groceries and take care of yourself and family. If your lender is threatening to take your vehicle, it’s time to take action.
Bankruptcy can protect you from repossession and build a plan for catching up on payments. In some cases, bankruptcy can even get back a vehicle that was recently repossessed and lower the balance that has to be paid for your vehicle. Financial Freedom Legal works to help you keep your vehicle and gain the financial stability that you need.
Garnishment
Are creditors taking funds away from your hard earned paychecks? Repaying your debts can be stressful and having garnishments taken from your paychecks or bank accounts can make it increasingly difficult to catch back up.
Once creditors have taken your money you have a limited amount of time to get your money back.
Our bankruptcy lawyers can work to help you quickly file bankruptcy to stop the garnishment, receive your lost money and begin working towards financial security.
Tax Debt
Have you struggled to make tax payments? Are taxing entities beginning to collect on those debts, regardless of if you have the money to pay them?
Bankruptcy allows you to create a repayment plan and even sometimes discharge your tax debts. Financial Freedom Legal can help you find the right bankruptcy option to manage your tax balance.
Money Collection
When the collectors just won’t stop calling, sending letters, taking your wages or scheduling court dates, it can feel like nothing will ever stop them. If you’re over being harassed, bankruptcy may offer the relief you need.
Financial Freedom Legal’s lawyers can provide the expert legal advice you need to get the creditors off your back. Let us deal with the collectors while you work on your financial comeback.
Eviction
When your landlord sends an eviction notice, it can feel like they have all of the power. But that is not the case at all.
Our bankruptcy lawyers can help you use bankruptcy to protect your housing and address your missed rent payments. You can maintain stability or get assistance relocating during bankruptcy.
Warrant in Debt
Has a creditor filed a warrant in debt against you? This allows them to take you to court and attempt to recover debts you owe them.
Filing bankruptcy will require your creditor to stop their efforts to recover the debts and possibly eliminate your need to go to court. Financial Freedom Legal can help you stop the creditor from collecting your money.
Utility Disconnection
Are you facing an electric, gas, water or other utility shutoff? Bankruptcy might be the solution you need to keep your utilities running.
Financial Freedom Legal’s team of bankruptcy lawyers can assist you with filing bankruptcy and putting a stop to the utility company’s disconnection. You can use bankruptcy as a tool to gain the financial freedom you need to never miss another payment.
Student Loan Debt
Many Henrico residents struggle with repayment of student loan debts. Bankruptcy can help you delay repayment of your student loan debts and in some instances your student loan debts can be eliminated.
Financial Freedom Legal’s bankruptcy lawyers can help protect you from the calls, letters, court orders and garnishments used by student loan creditors. Our team will help you see what kind of debt relief you are eligible for through bankruptcy.
Overwhelming Debt
Debts of any kind can put a significant amount of pressure on your life. If you’re ready to reclaim your peace of mind and financial power, you should consider filing for bankruptcy.
Financial Freedom Legal will help you throughout the entire bankruptcy process. Start working toward being debt-free today!
Serving All of Henrico
Our bankruptcy lawyers will help residents throughout Henrico including near, but not limited to:
Wyndham, Innsbrook, Short Pump, Tuckahoe, Glen Allen, Laurel, Lakeside, Dumbarton, Chamberlayne, East Highland Park, Highland Springs, Montrose, Sandston, Varina, Woodview Hills, Windsor, Yahley Mills Estates, Elko and more.
Pair with Our Community Partners in Henrico County
Our legal team is here for the long run. We don’t leave you to figure things out on your own after your bankruptcy case is filed.
Instead, you can rely on our holistic approach to financial recovery.
Financial Freedom Legal will connect you with Richmond-area experts who can assist you with other services that may be needed on your journey to financial freedom. Whether you need help rebuilding credit, obtaining approval for social security or financing a home or vehicle – we’ve got you covered.
Don’t fight this battle alone, get access to the resources you need to achieve financial elevation.
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.
Begin Your Bankruptcy Journey Today with Expert Bankruptcy Lawyers
Don’t let debt make you feel defeated or alone. People take steps toward financial recovery every single day and you can too. Thousands of Henrico residents file for bankruptcy each year and begin working towards a debt-free life.
Financial Freedom Legal is here to support you every step of the way. Call us at 804-FREEDOM to set up a free consultation to learn more about how bankruptcy can help you get back on your feet, get peace of mind, and start working toward accomplishing your financial goals.
Local Henrico 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 dedicated to helping individuals in the Richmond area navigate challenging financial situations and achieve true financial freedom. Their work provides a vital service, offering a path towards a fresh start for those facing overwhelming debt.
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