Bankruptcy Attorneys in Richmond, VA
Nationally Recognized Bankruptcy Attorneys in Richmond
Serving our community with compassion and bankruptcy law expertise to help you achieve financial freedom.
Bankruptcy Attorneys in Richmond Who Will Fix Your Financial Problems
Dealing with debt and creditors trying to collect can be extremely stressful, overwhelming, and even scary. You shouldn’t have to go through it alone.
Veronica and Steve, the founders of Financial Freedom Legal, are nationally recognized Richmond bankruptcy attorneys who have over 20 collective years of experience and are dedicated to helping you resolve your financial troubles.
Bankruptcy is a very powerful financial tool that can break down the walls that keep you from achieving your financial goals. Some debts can be wiped out completely without any repayment while other debts can be altered so that they become more affordable for you.
Our local bankruptcy lawyers in Richmond, Steve and Vee, can also protect you from losing your assets, such as your apartment, house, car, utility service or money being garnished from your accounts.
The thought of just filing for bankruptcy can be intimidating—and that’s okay. Financial Freedom Legal takes the time to answer your questions and explain the process to you during a free consultation.
Chapter 7 & 13 Advice From Top Bankruptcy Attorneys in Richmond, VA
Chapter 7 or Liquidation Bankruptcy
A chapter 7 bankruptcy case is generally referred to as a “liquidation bankruptcy.” It could allow you to wipe away your debts without making any repayment to creditors.
After completing your case and receiving a discharge, you will no longer be responsible for paying debts such as credit cards, medical bills, payday loans, cash advances, internet loans, personal loans and judgments.
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You may also be able to stop paying the amounts owed on mortgages or car loans, but only if you are willing to turn your home or car over to the creditor.
Filing a chapter 7 bankruptcy also stops creditors from taking action against you, including garnishments, warrants in debt, utility disconnection and collections.
When considering Chapter 7 bankruptcy, you should consider the possibility of income restrictions and property liquidation.
In many cases, Financial Freedom Legal can assist you in protecting your property from being sold. However, it’s important that we first evaluate your individual financial situation to properly advise you of the best course of action.
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Chapter 13 or Plan of Reorganization
Also known as Plan of Reorganization bankruptcy, Chapter 13 helps you pay for your debts on your own terms.
When you choose to file for Chapter 13 bankruptcy, collection attempts will be halted as you develop a repayment plan based on your income and debts—making sure you can afford it. You’ll have three to five years to repay your debts and then the remaining debts can often be discharged in full.
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While Chapter 13 is a longer process compared to Chapter 7, it does allow you to reorganize a wider variety of debts and also protects your property. Catch up on mortgage or rent payments and/or eliminate liens on your personal property when you choose Chapter 13.
Debts becoming too much to handle? Contact Financial Freedom Legal for a free bankruptcy consultation to find out if Chapter 13 is the right bankruptcy solution for you.
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How Can Our Richmond Bankruptcy Attorneys Help You?
Foreclosure
There are several reasons a mortgage lender may attempt to foreclose on your home. The most common is that you have fallen behind on your payments.
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Financial Freedom Legal can help save your home from foreclosure. A bankruptcy filing will stop the foreclosure process immediately and allow you to catch up on your missed mortgage payments over a period of three to five years.
When you receive a foreclosure notice, it’s important that you act quickly because a bankruptcy must be filed prior to the foreclosure sale date in order to save your home.
If you are behind on your mortgage payments or if you have received a foreclosure notice, let us help with protecting your home!
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Garnishment
If a creditor receives a state court judgment against you for a debt that you owe to them, they will usually attempt to collect through a garnishment. A garnishment is a court order that requires money be withheld from your paycheck or bank accounts. The withheld funds will later be sent to the creditor to pay the judgement debt.
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You can protect your hard-earned money from garnishment by filing bankruptcy. This can stop creditors and get back previous payments.
If you are faced with garnishment, it’s important to act fast because there is a limited amount of time to demand the return of garnished funds. Our team can help protect your paycheck and bank accounts.
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Collections
You can stop your creditors from bothering you about debts by filing for bankruptcy.
Once a case is filed, your creditors will be forced to stop all collection actions. This means no more calls, letters, court dates, garnished wages or bank accounts, and no more dealing with those pesky collectors.
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If you are tired of creditors harassing you, give us a call and let our team deal with the collectors for you.
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Student Loan Debt
Although filing bankruptcy does not make most student loan debt go away, there are some limited circumstances in which some or all of your student debt might be eligible to be discharged.
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Additionally, filing bankruptcy can protect you from your student loan creditors by forcing them to stop sending you collection letters, making collection calls, threatening court action and garnishing your wages or bank accounts.
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Utility Disconnection
If you have fallen behind on your household utility bills, you can prevent electric, water, gas or other utility disconnection by filing bankruptcy.
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Additionally, if any of your utilities have already been disconnected, you can get your utilities reconnected immediately.
If you are facing electric, gas, water or other utility disconnection, let us help you keep your lights on.
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Repossession
Unpaid car loan payments can cause your lender to repossess your vehicle. You can stop the lenders from taking your vehicle by filing bankruptcy.
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If your vehicle has recently been repossessed, we may be able to help you get your vehicle back.
Financial Freedom Legal can help you take the next steps needed to protect your car.
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Evictions
In many cases, you can stop an eviction by filing for bankruptcy. You may also be able to catch up on missed rent payments through a chapter 13 bankruptcy and stay in your home. Or, if you wish to relocate, we can help you get out of your lease, deal with any missed rent payments and just move on.
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Warrant in Debt
A warrant in debt is what creditors will file in Virginia state court to recover debts that they claim are owed to them. At the hearing on a warrant in debt, creditors will ask the court for a judgment against you for the amounts owed.
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This could allow creditors to garnish the funds from your wages or bank accounts.
After a bankruptcy case is filed, the creditor will be required to stop pursuing the warrant in debt, and you may not even need to go to the scheduled state court hearing. If the state court has already entered a judgment against you based on a warrant in debt, we can help prevent the creditor from collecting on it.
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Tax Debt
A bankruptcy filing can prevent taxing entities from placing a tax lien on your home or property, from garnishing your paycheck, and from taking money from your bank account.
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Some tax debt can be discharged in bankruptcy, while other tax debt, usually more recent debt, will need to be repaid. Our lawyers can help you set up a plan to pay back that debt over a period of three to five years.
If you are faced with tax debt, schedule a free consultation today so we can discuss your specific situation and set up a bankruptcy plan that addresses it.
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Overwhelming Debt
You can get rid of the stress of overwhelming debt and reclaim your peace of mind by filing bankruptcy.
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Bankruptcy can provide a great sense of relief because you will finally have a plan in place for dealing with all of your debt. It is a solution to a problem that can consume your thoughts and cause you to lose sleep at night.
If you are over the stress of debts and ready to get a fresh start, Financial Freedom Legal is here to help.
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Compassionate Bankruptcy Lawyers in Richmond, VA
Helping You Achieve Financial Well-Being
Financial Freedom Legal works to make sure that you receive excellent legal representation, relief and peace of mind.
You’ll have access to people, businesses and organizations in Richmond and beyond that specialize in bankruptcy and debt support. You will get the help and resources you need to achieve overall financial well-being.
Debt is often just one symptom of financial struggles. Financial Freedom Legal sticks by you to give you guidance, support and connections to our team of partners in the Richmond community. Through our firm of local bankruptcy lawyers in Richmond and supporting partners, you can re-establish your credit, rent an apartment, buy a house, buy a car, file your taxes and get approved for social security disability.
Our holistic approach to financial recovery goes beyond the law office. It’s designed to help you resolve your debts and navigate your journey to financial freedom.
Answering Bankruptcy Lawyers in Richmond’s Frequently Asked Questions
Will I lose my house if I file for bankruptcy?
No, it’s 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.
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.
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.
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’s actually quite common for people to finance the purchase of vehicles after filing bankruptcy, whether it’s 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.
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.
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.
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.
Will I lose my car if I file for bankruptcy?
No, it’s 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’s 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.
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.
Get Your Free Consultation Today From The Best Bankruptcy Lawyers in Richmond
When it comes to Financial Freedom Legal, You’re in Good Hands.
You do not have to deal with financial problems alone. Let Financial Freedom Legal do the heavy lifting and relieve you of burdensome debts.
Walk us through your specific financial situation and concerns during a free consultation. During this meeting you’ll get the chance to learn about how bankruptcy can protect you from your creditors and resolve your debts.
Local Richmond Bankruptcy Attorneys in the News
Financial Freedom Legal’s team of nationally recognized bankruptcy attorneys has been highlighted in local news for our 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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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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