Check out the Bankruptcy FAQ for more details
BankruptcY
Bankruptcy can put an immediate stop to foreclosures, wage garnishments, lawsuits, harassment from bill collectors and it can relieve you from burdensome debts such as high medical bills. If you would like to discuss bankruptcy as well as other options to relieve you from financial pressures, call me to set up a free initial consultation.
If you are considering bankruptcy, you may have searched the Internet or the yellow pages for an attorney to consult. You will find many attorneys advertising bankruptcy and debt relief services in the central Virginia area. When choosing a bankruptcy attorney beware of high volume bankruptcy practices. While they may charge bargain rates, they generally oversimplify the process, don’t fully explain all other options, nor get to know you personally. Simple oversights and omissions on a bankruptcy petition are easy to make and will cost you time, money and possibly your case. I believe in quality over quantity and will not rush you through this important process. I personally handle every aspect of your case from petition to discharge and guide you through every step from pre-petition counseling to post discharge credit management education.
Bankruptcy Overview
The bankruptcy code is federal law that allows debtors to petition the courts for relief from their debts. There are several types of bankruptcy proceedings. The two most commonly used by individuals are a chapter 7 and a chapter 13. A chapter 7 is in essence a personal liquidation while a chapter 13 is akin to a personal financial reorganization.
What is the Difference Between a Chapter 7 and a Chapter 13 Bankruptcy?
The basic difference is that in a chapter 7 case your property that is not exempt from liquidation is sold and the proceeds are used to pay off as much of your debt as possible. All remaining debt that is eligible is then discharged or forgiven and does not have to be paid back. In a chapter 13 on the other hand you usually retain your property that is not exempt from liquidation under a chapter 7, but in exchange you must pay off as much of your debt as the court deems feasible over a period of three to five years, after that period, provided all repayment plan payments have been made, the remaining debt is discharged. A further difference is that more types of debt can be discharged in a chapter 13 than a chapter 7 however a chapter 13 lasts much longer and costs more.
To determine which is right for you, review the frequently asked questions portion of my website and call my office to set up a free consultation.
Home:
Bankruptcy may protect your home from foreclosure depending on your circumstances, or help get you out from under oppressive loans which you are unable to refinance due to current economic conditions.
Your Car:
If you file bankruptcy you can generally keep your car if you want to. There are several options depending on your circumstances and the type of bankruptcy you file.
Your Credit:
Bankruptcy will negatively impact your credit. However it will allow you to get back on track without overwhelming debt burdens.
View Frequently Asked Bankruptcy Questions
Miller-Cerasuolo provides legal services to the Greater Richmond Area including Richmond, Chester, Colonial Heights, Midlothian, Ashland, Fredericksburg, Mechanicsville, Dinwiddie, Nottoway and Prince George, Chesterfield, Henrico, Hanover, Powhatan, Goochland, New Kent County, Dinwiddie County, Nottoway County, Amelia County, Cumberland, Louisa, King William, King and Queen, Charles City, Essex, Northumberland, Spotsylvania, Richmond County and Prince George contact me for a consultation at (804) 302-5215 or brandi@bmclawoffice.com
Miller-Cerasuolo PLLC is a debt relief agency. We proudly help people file bankruptcy under the United States Bankruptcy Code.