Richmond Bankruptcy Blog

Covid-19 Update

Our office is open on a limited basis as we navigate COVID-19 together. What matters most is that our clients are safe and stay healthy. We are maintaining a safe margin of time between each appointment to ensure you do not have contact with anyone in the waiting area and we are sanitizing the area after each appointment. We realize that many of you will be facing an unexpected and unprecedented ...

Can I Keep My Car in Chapter 7 Bankruptcy?

Many people worry about losing all of their belongings, especially their car, when they file for Chapter 7 bankruptcy. Fortunately, there is a way to keep it. When you file for bankruptcy, you can protect property that you’ll need to work and live by “exempting” it from your bankruptcy case. So if you own your vehicle outright or you’re currently on your vehicle payments, exempting your vehicle ...

Can I Get Rid of Mortgages through Bankruptcy?

When it comes to bankruptcy , one of the most common questions our firm receives is “can bankruptcy eliminate mortgages from my home?” The answer is yes, but under specific circumstances. If your house has decreased in value since you purchased it, a Chapter 13 bankruptcy may help you get rid of their junior liens, such as a second or third mortgage. This is done through a process known as “lien ...

The Bankruptcy Means Test

In order to determine if you are eligible for a Chapter 7 bankruptcy , you must first take the means test to evaluate your income and debts. Most people facing bankruptcy would rather file a Chapter 7 since it completely removes most debts and you are not required to make monthly payments. However, if you fail to pass the means test, then you must file Chapter 13 . This means that you will be ...