Chapter 7 Bankruptcy
You may have forgone some assets, like an expensive car or jewelry, but most filers do not. Chapter 7 bankruptcy is the most accessible and most typical form of bankruptcy. Chapter 7 bankruptcy can cancel many forms of overwhelming debt under the protection of a federal court.
At Robert E McRorey’s law office, we are here to perform your Chapter 7 bankruptcy with ease. Chapter 7 erases most unsecured debts, that is, debts without collateral, like medical bills, personal loans credit card debt. However, some types of debt, such as back taxes, student loans, court judgments, alimony, and child support, aren’t eligible. Chapter 7 bankruptcy will leave a profound mark on your credit reports for ten years. During this time, you’ll likely find it difficult to get credit. Even so, you’ll most likely see your credit scores recover in the months after filing.
Chapter 7 bankruptcy can often be a frightening thought. If you’ve been dealing with the stresses of financial debt, instability, and other issues like:
- Wage garnishment
- Bank garnishment
- Credit card debt
- Medical Bills
- Mortgage debt
- Tax debt
- Creditor harassment
It may be time to consider the legal services of our debt relief lawyers. Servicing the Richmond, Colonial Heights, Fredericksburg, Hopewell, Petersburg, and surrounding Virginia areas, we can help individuals dealing with financial burdens where bankruptcy is the best solution.