Richmond Bankruptcy Attorney
Get a Bankruptcy Attorney Near Me
Are you considering filing for bankruptcy in Richmond VA? Most people feel uncomfortable talking about money — especially when it comes to bankruptcy. A knowledgeable Richmond bankruptcy attorney at Fisher-Sandler, LLC – Richmond, VA can help. No one wants to admit that he or she has been through the process because the only information most people have is what they hear in the media, which is often negative and sensationalized.
The result of this lack of information in the Richmond area is that many families continue to suffer under the burden of financial debt far longer than they have to, and they make common, understandable mistakes that worsen their situation. That’s unfortunate because real debt relief is available for most people.
The truth is, filing for bankruptcy can help you finally move forward with your life. At the Richmond law office of Fisher-Sandler, we help our clients understand their rights under U.S. bankruptcy code, and we help them achieve debt relief through Chapter 7 bankruptcy and Chapter 13 bankruptcy.
Has another attorney told you that you do not qualify for Chapter 7 or Chapter 13 bankruptcy?
He or she could be wrong. Make sure the assessment was correct. Contact a Richmond bankruptcy lawyer at Fisher-Sandler Law for a free initial consultation to discuss your situation.
Our Richmond Bankruptcy Services
When you come to our law office, we will help you:
– Foreclosure Defense
– Student Loan Modification
– Property Exemptions
– Tax Forgiveness
– Auto Repossessions
– Stop Creditor Harassment
Richmond Chapter 7 Bankruptcy Attorney
Chapter 7 bankruptcy in Richmond is considered by most people to be the most basic form of bankruptcy. Chapter 7 bankruptcy is a liquidation of your non-exempt assets, where the bankruptcy discharge clears you of many (and sometimes all) of your unsecured debts (such as credit cards, medical bills, payday loans, certain personal loans, utility bills, etc.). The term “liquidation” sounds terrible and it means that some of your property might be seized by the court and sold for the benefit of your creditors. In the vast majority of cases, there is nothing to seize for the benefit of creditors and with careful planning by a competent Chapter 7 bankruptcy attorney you can be prepared for what to expect and how to reduce your potential losses.
Chapter 7 bankruptcy is a type of bankruptcy protection for individuals and involves the turnover and sale of a person’s non-exempt assets in exchange for the discharge of most debts. An independent Chapter 7 trustee is appointed for each case and will determine if any property is available and worth selling for the benefit of creditors. The majority of cases do not involve any loss of assets and proper planning will ensure that most debtors will keep their possessions.
Who Qualifies For Chapter 7 Bankruptcy in Richmond?
Not everyone qualifies for a Chapter 7 discharge. In order to qualify for a discharge in Chapter 7, a person must not have the means or ability to repay creditors if they were to live on a reasonable budget. This is determined by what is referred to as the “means test” and is intended to determine whether the filing is an abuse of the bankruptcy code. The means test involves an analysis of a person’s historical income less certain fixed statutory deduction as well as a few discretionary deductions to determine if there is a net amount that can meaningfully repay creditors. If this calculation does not result in a net amount sufficient to provide a meaningful payment to creditors, a person is said to qualify for Chapter 7 relief.
Compared to other bankruptcies, Chapter 7 bankruptcy is usually simple and straightforward. It costs less than other forms of bankruptcy and is a common solution for those with overwhelming medical bills, unsecured loans, and credit card debt. Chapter 7 is the bankruptcy of choice for those without assets.
You are not required to turn over household goods, clothing, pensions, public benefits accumulated in a bank account, or personal injury damages. You may be allowed to keep motor vehicles up to a certain value and a portion of the equity in your home. However, you must surrender assets like cash, stocks, bonds, investments and bank accounts.
An accomplished Richmond bankruptcy lawyer can help you choose a bankruptcy option to best serve your needs. With 60+ years of combined experience, the team at Fisher-Sandler, LLC, Richmond VA offers professional counsel and knowledgeable representation. Let a Richmond Chapter 7 bankruptcy attorney from our firm help you get the financial relief you need, clearing the way for a brighter future. Call us now at (804) 664-3643 to schedule your FREE consultation.
Richmond Chapter 13 Bankruptcy Attorney
Those who find themselves reaching their own fiscal cliff are left wondering what they can do to stop themselves from going over. There are many options available for putting on the brakes, but which one makes the most sense? For some, Chapter 13 bankruptcy in Richmond offers a viable way to climb out of debt that allows them to keep real and personal property.
Our Richmond Chapter 13 bankruptcy lawyers help individuals in Richmond and throughout Henrico County find debt relief by creating debt payment plans through Chapter 13 bankruptcy. If you are facing serious financial stress and you are considering filing for Chapter 13 bankruptcy protection, please do not hesitate to contact our Virginia legal team for a free, no-obligation review of your case.
Chapter 13 Bankruptcy Benefits in Richmond
Without bankruptcy, creditors can be relentless in their attempt to get as much as they can, sometimes to the detriment of other creditors or the borrower. Many times there seems to be no relief in sight. Filing a Chapter 13 petition puts the control back in the debtor’s hands, making it easier for the debtor to reorganize outstanding debts. That is the key thing that you should know about Chapter 13 bankruptcy protection: It allows borrowers to restructure their debts in a sustainable manner. The benefits of filing for Chapter 13 bankruptcy may include:
Avoiding Foreclosure on Your Home: If you are currently facing foreclosure or you are worried about foreclosure, filing for Chapter 13 bankruptcy might be your best option. In many cases, Chapter 13 can put you in a position to halt foreclosure or even to get you out of the process so you can save your home.
New, Lower Monthly Payments: If your monthly debt payments are simply too high to keep up with, Chapter 13 offers a solution. With a restructuring, your monthly payments can be reduced to a more sustainable amount. Within the Chapter 13 process, debt payments may be extended for additional months, interest rates can be reduced, fees and penalties can be waived, and part of the principal balance may even be forgiven outright.
Real, Effective Loan Consolidation: Chapter 13 offers borrowers real loan consolidation. If you are crushed under the burden of many debt payments, you can use the process to roll many those payments into a single consolidated sum. Not only is this more simple and less stressful, but it can also help to reduce your costs.
Limit the Total Impact on Your Credit: Finally, though filing for bankruptcy causes damage to your credit, Chapter 13 limits the total extent of the impact. It is significantly less damaging than a Chapter 7 bankruptcy filing or a mortgage foreclosure. Further, over the long run, it can also be a lot better than continuing to fall behind on your monthly payments.
Chapter 13 Bankruptcy Process in Richmond
The bankruptcy laws allow the debtor to pay back the creditors, if at all possible. Chapter 13 is designed in such a way that a debtor pays a consistent amount every month to an appointed trustee. Therefore, a Chapter 13 debtor must have a regular income.
From there, the trustee distributes the funds to creditors. A Chapter 13 bankruptcy can last anywhere from 36 to 60 months, depending on several factors that are determined at the outset of the bankruptcy. Richmond Bankruptcy Attorney Sharon Choi Stuart will explain these factors during your initial FREE consultation.
Homeowners or property owners who want to keep their properties may be able to do so through Chapter 13 because the debtor can repay any mortgage arrears over the term of the repayment plan. The debtor can also “strip” or “remove” second and third mortgages or judgment liens that are wholly unsecured. In addition, the simple act of filing the petition temporarily stops the foreclosure. All ongoing mortgage payments must be made throughout the bankruptcy, but there is also the opportunity to renegotiate or modify the first mortgage.
Filing bankruptcy may be beneficial for those who have no other alternative for reorganizing debt. Although it is not a cure-all, it is a tool that can bring relief for a difficult situation. Given the complex nature of the subject, most people have questions. Whether or not filing for Chapter 13 bankruptcy is the right decision for you depends on the specific nature of your financial circumstances.
You do not have to go through this process alone. Our Richmond Chapter 13 bankruptcy lawyer at Fisher-Sandler, LLC – Richmond VA is prepared to conduct a free, comprehensive assessment of your financial situation. We will help you understand the benefits, and drawbacks, of every available option, including the non-bankruptcy debt relief alternatives.
Richmond Chapter 11 Bankruptcy Attorney
Typically called a “reorganization” bankruptcy, Richmond Chapter 11 allows a business to continue operating while restructuring finances so as to better manage debt. Corporations, sole proprietorships, partnerships, limited liability companies (LLCs), and other types of businesses are all eligible to file under Chapter 11 Bankruptcy. Although less common, in some instances individuals whose debts are too large to qualify under Chapter 13 can also file under Chapter 11.
Normally, debt-ridden businesses seek Chapter 11 protection. However, if an individual debtor exceeds the income limitations of Chapter 13, he or she may file under Chapter 11. Similar to a Chapter 13 bankruptcy, in Chapter 11 bankruptcy the debtor (whether a business or individual) files a plan with the bankruptcy court stating how the debtor intends to reorganize and pay its debts. A Chapter 11 plan usually pays creditors over a period of five years but the length of plan may be extended up to ten years, with court approval.
Emergency Bankruptcy Attorney Richmond VA
Emergency bankruptcy filings are sometimes necessary in Richmond VA. Filing for Bankruptcy is a big decision that should be carefully considered. However, sometimes it is the best move for your financial situation, and sometimes you need bankruptcy protection immediately! Circumstances that call for an emergency bankruptcy filing may arise, and our Richmond Virginia bankruptcy attorneys can help. If you are facing a foreclosure or wage garnishment, bankruptcy may provide you with the protection from creditors as the Automatic Stay comes into play immediately and all collection action and lawsuits must cease.
Our Emergency Bankruptcy Lawyers in Richmond Virginia can assist you if an emergency situation should arise. Many times emergency situations happen with little or no warning. When these unfortunate events happen in a person’s life, there is peace of mind knowing that our team of debt relief experts at Fisher-Sandler, LLC are there to assist you every step of the way.
See the big picture: If you’ve been overwhelmed by overdue bills, credit card debt and creditor calls, it’s easy to get bogged down in the anxiety of day-to-day problems. Bankruptcy attorneys Nathan Fisher and Michael Sandler are caring legal advisors who can explain your options.
Understand what bankruptcy can do for you: Every family’s financial situation is different. We review your financial picture and let you know if you qualify for bankruptcy in Virginia. Have creditors garnished your wages? Bankruptcy can prevent or end wage garnishment. Are you facing foreclosure? Bankruptcy can prevent or delay foreclosure and repossession.
Get honest answers to your questions: Don’t let fear and misinformation stop you from getting the debt relief you need. We will answer all your questions in clear, understandable language.
Bankruptcy Questions in Richmond
Are you worried that you will have to give up your car or sell your boat? We can explain what possessions you can keep (more than you might think).
Are you thinking of raiding your retirement account to pay off debt? That’s usually a bad idea; we’ll tell you why.
Wondering if you should file for bankruptcy before or after a divorce? The answer to that depends on your financial situation. When you come in for your free initial consultation, we’ll explain which option may be in your best interest.
Do you own a business entity? Find out how bankruptcy can help with your business’s debts and financial problems.
Bankruptcy is not a one-size-fits-all process. How a bankruptcy filing will help you and your family may be different from how it helps someone else.
What we do know from our years of experience helping families in the Richmond area is that many people experience a great sense of relief when they are finally able to regain control of their financial life.
There is no shame in needing help to get out of debt. A job loss, a struggling business, unexpected medical expenses — these are everyday occurrences.
Free Initial Consultation: Contact a Richmond Chapter 7 Bankruptcy Lawyer
When you are ready for real solutions, contact the law office of Fisher-Sandler — real lawyers for real people. Your initial consultation is free. We serve clients throughout the Richmond metro area and beyond, in Bon Air, Wyndham, Midlothian, Ginter Park, and Lakeside.
Fisher-Sandler Law is a professional financial relief firm that assists individuals and families in filing for bankruptcy under the Bankruptcy Code. Call us anytime for a free consultation.
Fisher-Sandler, LLC – Richmond, VA
8002 Discovery Drive, Ste. 422
Richmond, VA 23229
JF34+P3 Richmond, Virginia
Richmond Virginia – About
Richmond, the capital of Virginia, is about a two hours’ drive from the nation’s capital of Washington, D.C., and an hour from Charlottesville, home to the University of Virginia and one of America’s quintessential college towns. Richmond’s original street grid, laid out in 1737, included the area between what are now Broad, 17th, and 25th Streets and the James River. Modern Downtown Richmond is slightly farther west, on the slopes of Shockoe Hill. Nearby neighborhoods include Shockoe Bottom, the historically significant and low-lying area between Shockoe Hill and Church Hill, and Monroe Ward, which contains the Jefferson Hotel. Richmond’s East End includes neighborhoods like rapidly gentrifying Church Hill, home to St. John’s Church, as well as poorer areas like Fulton, Union Hill, and Fairmont, and public housing projects like Mosby Court, Whitcomb Court, Fairfield Court, and Creighton Court closer to Interstate 64.The area between Belvidere Street, Interstate 195, Interstate 95, and the river, which includes Virginia Commonwealth University, is socioeconomically and architecturally diverse.Richmond’s Northside is home to numerous listed historic districts.Farther west is the affluent, suburban West End.The portion of the city south of the James River is known as the Southside.
Things To Do in Richmond Virginia
We’re here to help you find the best things to do in Richmond Virginia. If you’re a foodie looking to find out why Richmond is one of the hottest culinary destinations in the country, check out the Eat section. We’ve got no shortage of family fun in Richmond and the outdoors is a playground where you can kayak, swim, tube and relax. If biking is your thing, check out the Virginia Capital Trail, a 52 mile dedicated, paved pedestrian and bicycle trail connecting the Commonwealth’s past and present capitals of Jamestown and Richmond along the Scenic Route 5 corridor.
We’ve got unique shopping destinations like Need Supply, Ledbury and Shockoe Atelier for fashionistas and world-class museums like the VMFA, The Valentine and the VCU Institute for Contemporary Art. And the Richmond region makes eco-friendly travel easy. From thrift and vintage shops to farmer’s markets, Segway Tours, bike rentals and Virginia Green certified hotels, restaurants, venues, and attractions, it’s all about sustainability and respect for the environment. Live 400 years of history in Richmond before sipping craft beer or cider at one of our more than 30 breweries!