Richmond's Chapter 7 Bankruptcy Lawyers
When most people are thinking about or considering filing bankruptcy they are thinking about wiping out their debt, getting a fresh start or a clean slate. This is what is known as a liquidation bankruptcy, more commonly referred to as a chapter 7 bankruptcy. To file a chapter 7 you must meet certain eligibility and qualification requirements, but once you clear those hurdles, a chapter 7 can allow you to discharge the majority of most debt [with several exceptions]. Chapter 7 does come with the potential prospect that you could run the risk of losing some of your assets and property. In a chapter 7, the Bankruptcy
Court appoints a chapter 7 trustee who is responsible for determining whether you may have any assets that could be sold or ‘liquidated’ for the benefit of your creditors. There are certain property that you own that will be protected and exempted in a chapter 7 but since each person’s situation is different you should consult with one of our bankruptcy attorneys here in Richmond, Virginia to discuss your matter further.
CONTACT PAGANO AND MARKS and determine whether you can achieve a fresh start for you and your family. Contact our firm today for legal assistance regarding bankruptcy and your options by calling 804-447-1002.