Dependable Bankruptcy Attorneys in Powhatan, VA
Compassionate Lawyers focused on your debt relief and improved personal finances
Find a Team of Lawyers with Flexible Practice Areas and Extensive Experience
Are you facing financial difficulties and considering filing for bankruptcy? Navigating collections, liquidation, reorganization, and debt relief on your own can seem too intimidating.
No one should be left to handle aggressive creditors on their own. Stopping collections calls and garnishments is much easier with an experienced legal team on your side. Financial Freedom Legal’s lawyers Veronica Brown-Moseley and Steve Relyea have helped Powhatan residents overcome financial hardship for years. Each of our skilled bankruptcy attorneys has a uniquely compassionate approach to helping Powhatan County.
Our holistic approach to debt relief puts your concerns and needs at the forefront of our Chapter 13 and Chapter 7 bankruptcy services. Financial Freedom Legal is dedicated to providing you with the guidance and support you need to navigate the bankruptcy process.
Contact us today to start with a free consultation that helps you determine exactly what your best next steps toward debt relief are.
Your Bankruptcy Filing Options in Powhatan, VA
Did you know there isn’t a one-size-fits-all approach to bankruptcy? Different kinds of debt are eligible for different kinds of relief. Financial Freedom Legal’s Central VA bankruptcy lawyers specialize in both Chapter 7 and Chapter 13 bankruptcy, which are the most common types of filings in Powhatan.
Your unique situation and your future financial goals heavily sway how you should approach bankruptcy. Veronica and Steve are trustworthy bankruptcy attorneys who will evaluate your debt and guide you through your best course of action.
Chapter 7 or Liquidation Bankruptcy
Chapter 7 Bankruptcy Lawyers
Chapter 7 bankruptcy is all about giving you a fresh start. By eliminating unsecured debts, you get the freedom to focus on other important monthly expenses. It even stops all debt collection attempts after you file.
Also, known as liquidation bankruptcy, Chapter 7 eliminates certain debts. There are instances where filing under chapter 7 could result in the liquidation of certain assets.
Weighing property loss and debt relief is a hard choice to make. That’s why you need a law office that doesn’t make recommendations lightly. Instead you’re given an objective look at what bankruptcy option best serves you and a dedicated team who fights to protect your assets.
If you’re struggling to resolve debts such as credit card payments, medical bills, payday loans, cash advances, internet loans, personal loans or judgments, a Financial Freedom Legal bankruptcy attorney can help. Contact us to figure out if discharging your debts is exactly the fresh start you need.
Chapter 13 or Plan of Reorganization
Chapter 13 Bankruptcy Lawyers
Chapter 13 bankruptcy offers a viable solution for repaying your overwhelming debts over time. This type of bankruptcy allows you to create a repayment plan based on your current income and debts. Instead of focusing on what creditors want, filing chapter 13 allows for payments based on what you can afford. Our lawyers will help you create a feasible plan of reorganization that fits your budget and financial goals.
Once you file, debt collections stop and you’re set up with a payment plan that spans a period of three to five years. For many types of debt, any amount unpaid throughout the bankruptcy case will discharge at the conclusion of the case without further repayment.
Our bankruptcy lawyers in Powhatan help you use Chapter 13 to settle a wide range of debts, protect your property, catch up on your mortgage or rent, and modify or eliminate liens on your personal property. Start off with a free consultation to find the best solution to your financial needs.
What Types of Debt Can Bankruptcy Help With?
Powhatan Law Firm Dedicated to Building On-Going Partnerships
Financial Freedom Legal has an unwavering commitment to helping Powhatan County residents get a fresh start. Many lawyers are solely 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 will take the time to listen to your concerns, answer your questions, and develop a customized strategy tailored to your unique needs.
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.
Are You Ready to Consider Bankruptcy?
Debt carries an enormous burden and also a lot of stigma. You’re not alone in needing relief, thousands of Central Virginians and Powhatan residents have filed for bankruptcy.
As you fight to stop creditors and regain control of your finances, you need to find the best bankruptcy lawyers to represent you.
Financial Freedom Legal has years of experience and handles each case with complete professionalism. If you want the knowledge you need upfront and a welcoming experience, contact us today. Free bankruptcy consultations are available 7 days a week, at flexible times of day, and can be held on the phone, over video chat or at the Financial Freedom Legal office near Powhatan, VA.
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