Filing for bankruptcy can be a scary process. We’re here to help.
Having the right bankruptcy attorney by your side in court can make all the difference. They can help protect your car, house, tax refund, and assets. A bankruptcy can stop harassing calls and stop foreclosures and garnishments, but most people would not file for bankruptcy as they believe it will ruin their credit. After filing bankruptcy, your credit score may go down, but it can be rebuilt.
Why file for bankruptcy?
Most people may not want to file for bankruptcy as they believe it’s a punishment for being unable to pay their bills or an admission of failure. Bankruptcy is a legal and financial decision and a tool that helps people deal with overwhelming debt. It’s an avenue to regroup and clear out your debt. Get in touch with one of our bankruptcy attorneys to understand your rights.
Bankruptcy offers three major options, and they stop creditor activity against an individual:
Chapter 13 bankruptcy is a reorganization plan where a debtor offers a 3-5 year repayment plan to creditors through future income.
Chapter 7 bankruptcy is the most common type of bankruptcy and discharges almost all types of debts.
A Chapter 11 bankruptcy generally applies to debt reorganization involving a corporation or partnership. The debtor proposes a plan of reorganization to keep their business alive and repay creditors over time.
Overall, bankruptcy is a legal tool to wipe out and eliminate the burden of debt, allowing you to begin to rebuild your credit. Our experienced bankruptcy attorneys will provide guidance as you embark on this journey. Come to our office at 3158 Golansky Blvd STE 201, Woodbridge, VA 22192, USA.