Types of Bankruptcy
Finding yourself unable to meet financial obligations is stressful. Creditors put a lot of pressure on debtors, and seek to garnish anything they have of value.
If you are looking for bankruptcy lawyers in Chesapeake , Norfolk, Hampton,Virginia Beach, or the Newport News area, contact the law offices of Joynes & Gaidies.
Our lawyers are skilled in two common forms of bankruptcy—Chapter 7 and Chapter 13.
Chapter 7 Bankruptcy
Chapter 7 bankruptcy is designed for debtors who cannot pay their debts. The purpose of a Chapter 7 bankruptcy is to obtain a discharge of your existing unsecured debts.
Under certain circumstances, secured debts must be reaffirmed with the creditor and paid in full for the debtor to retain collateral. Even if you receive a discharge, you may be responsible for debts such as student loans, support payments, criminal restitution and debts for death or personal injury.
A reputable bankruptcy lawyer in Virginia Beach will help you understand whether or not Chapter 7 is an advantageous option for you.
Chapter 13 Bankruptcy
Chapter 13 bankruptcy is designed for individuals who can repay some debt. The individual filing business or personal bankruptcy in Norfolk, Newport News, Virginia Beach, or another location in the Tidewater area, must create a plan that allows him or her to repay a percentage of the debts over three to five years.
Chapter 13 organizes the repayment plan and halts any ongoing foreclosure proceedings. This form of bankruptcy can also be used to stop a bank from auctioning property.
Consult your Hampton or Newport News bankruptcy lawyer to learn more about your options.
Bankruptcy may or may not be your solution
While it may seem uncomplicated to file and be relieved of your most pressing obligations, the realities are complex. There are consequences for going bankrupt.
If you are considering filing Bankruptcy in Hampton, VA, it is best to seek counsel from the bankruptcy lawyers at Joynes & Gaidies, who really know the bankruptcy code. They will wisely guide you in making decisions that will impact you for years to come.
Serving clients throughout the Tidewater Virginia area
From offices in Hampton and Virginia Beach, VA, the attorneys of Joynes & Gaidies serve the needs of clients in the Tidewater Virginia area:
|
|
|
If you are struggling with debt, considering bankruptcy, and need bankruptcy advice, call us today at 1-800-989-4529, or contact us online for a free consultation about your financial situation so we can begin to help you.
