Understanding Chapter 13 Debt Consolidation
Unlike Chapter 7 bankruptcy, which is a liquidation bankruptcy that wipes out most all debts a person has, Chapter 13 is considered a reorganization bankruptcy. People filing Chapter 13 will enter repayment plans that typically last three to five years. If you are considering filing for Chapter 13, you will want to have a bankruptcy […]
Read MoreBankruptcy Myths and Facts
Bankruptcy is a concept that is frightening to most Americans. However, bankruptcy is in fact a legal process that can help businesses and individuals deal with serious financial problems. If you find yourself in such a situation, you should consider seeking the assistance of a Henrico bankruptcy attorney at the law firm of Canfield Wells […]
Read MoreIn Virginia If I File Chapter 7 Bankruptcy, Can I Keep My Car?
Concerns about possibly losing a motor vehicle are common reasons that many people fear filing for personal bankruptcy, but the truth is often that many people are still able to keep their automobiles even after filing for Chapter 7. While Chapter 7 is typically limited only to individuals who are unable to pay back all […]
Read MoreIs a Landlord Considered a Creditor?
Your landlord may be a creditor if you file bankruptcy. The bankruptcy law defines a “creditor” as someone to whom you actually or allegedly owe money. Typically, anyone with whom you have an outstanding balance or open account — credit card companies, banks, student loans or taxing authorities — falls within this category. Landlords become […]
Read MoreHow an Attorney Can Help You Reach Your Debtors
Receiving a legal summons for a debt-related lawsuit is unnerving for most people. Lack of familiarity with the legal process, inability to pay the debt in full, and fears regarding how the lawsuit may impact the future are a few of the concerns consumer have when they receive contact from a debt collector. Nevertheless, debt […]
Read MoreCan Bankruptcy Relieve Me of Back Taxes?
When you file for bankruptcy, you are able to request a way to eliminate all of the debt you owe. The debt that you wish to list in your bankruptcy petition can also include taxes that you haven’t paid, both state and federal. These back taxes owed to the IRS can be reduced or completely […]
Read MoreDoes Filing Bankruptcy Take Care of My State and Federal Debts?
Filing for bankruptcy is often the best option if you are incapable of paying back your debt. However, when it comes to your state and federal debts, it can be tricky. If your tax debts are troubling you and you’re considering bankruptcy, it’s important to know when you can discharge this type of debt. Generally […]
Read MoreWhat Happens to My Credit Card Debt if I File Bankruptcy?
Excessive credit card debt can cause anxiety and depression. Most people in excessive credit card debt got there because of emergency expenses. Perhaps there were unavoidable medical bills or car repairs. Chapter 7 and Chapter 13 bankruptcy can provide relief by erasing most types of credit card debt. Chapter 7 and Bankruptcy Chapter 7 is […]
Read MoreWill I Get a Tax Return if I File Bankruptcy?
After filing for bankruptcy, you may be unsure what will happen to money you currently have or expect to get in the near future. One asset many worry about is their tax return and if it will be seized to help pay down a debt. When a request for bankruptcy is submitted by a bankruptcy […]
Read MoreChapter 13 Bankruptcy: Why Should You Have an Attorney on Your Side
The option to file for bankruptcy should come after thoroughly considering all choices related to managing debts. If you are interested in this route, it is important to review all of the possible categories before starting the process. A bankruptcy law firm in Henrico Virginia is the resource you need to assist you in this […]
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