Chapter 7 Bankruptcy in Richmond
Our Richmond Bankruptcy Lawyer May Be Able to Help
A Chapter 7 bankruptcy allows you to wipe away most of your unsecured debt and get a fresh start - debt free. When you file Chapter 7 you do not have to restructure your debt like in some other forms of bankruptcy, instead it is literally forgiven by your creditors. If you have become overwhelmed with credit card bills and other types of debt, Chapter 7 could give you the chance to reclaim financial stability. At Bruce W. White, P.C., our Richmond bankruptcy attorney has the experience and skills to help you achieve this.
Contact us today to learn more about how we can assist you.
Can I File Chapter 7 Bankruptcy?
There are certain qualifications that you must meet in order to file Chapter 7. Some of these qualifications include:
- Your Monthly Income- If your income it too high, you may not file a Chapter 7 bankruptcy petition. Your income is calculated over the six-month period prior to filing bankruptcy is more than the median income, you may not be eligible to file a Chapter 7 case. This is known as the "Means Test." Call us to speak with a Richmond bankruptcy attorney for more details. Visit the US Department of Justice's website to learn more.
- Monthly Disposable Income- If you have disposable income every month, the Judge may want you to file Chapter 13, which allows you to restructure your payment plans with your creditors and pay back a portion of your debt over a five-year period.
- Recent Bankruptcy Filing- If you filed a Chapter 7 bankruptcy case within the last eight years and received a Discharge of those debts, you will not be able to file a new Chapter 7 bankruptcy case again until the eight years pass. A Chapter 13 bankruptcy would still be an option if you are experiencing financial struggles, including a car repossession or foreclosure or debt collection.
Contact an Experienced Bankruptcy Attorney Today
If you feel overwhelmed because of high debt balances and are unable to pay your monthly bills, filing Chapter 7 may be the fresh start that you need. There are requirements you must meet, and our Richmond bankruptcy lawyer, Bruce W White, will be happy to discuss your individual situation with you.
Here at Bruce W. White, P.C, we will gladly answer any questions you may have and guide you through the process of helping you put your financial future back on track. Call us at (804) 288-4328 now for a free telephone consultation.