Pagano Marks

Richmond’s Bankruptcy & PI Attorneys

Alternatives to Bankruptcy

Alternatives to Bankruptcy in Richmond, Virginia


Everyone has their own unique financial situation and special set of circumstances impacting their lives. At Pagano & Marks, we pride ourselves on tailoring a financial rehabilitation plan to fit each of our clients’ specific needs and concerns. Sometimes that means suggesting a liquidation bankruptcy with a Chapter 7, where we can provide a fresh start and a clean slate, and sometimes the situation calls for more of a financial reorganization bankruptcy with a Chapter 13 plan to repay some or all of their debts.

The lawyers at Pagano & Marks are not only Attorneys but also Counselors at Law. KEITH PAGANO and SETH MARKS will determine whether filing a chapter 7 bankruptcy or chapter 13 bankruptcy even makes sense for you or whether there are other or better options available to you. Sometimes it comes down to credit counseling and monthly budgeting of income and expenses. Some people have a decent amount of monthly income but just struggle with money management. Our attorneys are adapt at educating individuals and couples on how to take control their finances and their spending so that their debts don’t control them.

For other people, their situation may call for negotiation and ultimately settlement of their debt. Typically creditors are only willing to negotiate and settle debt when the accounts are severely delinquent but occasionally the lenders may be willing to accept a fraction of the debt if they can recoup an acceptable amount in a lump sum payment. Our attorneys can determine whether you may be a candidate for debt negotiation and settlement.

There are some people who may not qualify or be eligible for a chapter 7 liquidation bankruptcy and may not have enough monthly income to do a chapter 13 reorganization and so neither option may be available to them. Those people may be what we at Pagano & Marks consider to be ‘Judgment Proof’ and may not need to file a bankruptcy at all.

Let us be your financial counselors and allow Richmond’s Bankruptcy Lawyers provide you with a free consultation and a customized plan to get out of and manage your debt. Call us today. 804-447-1002.