Sandston Bankruptcy Attorney
Get a Bankruptcy Lawyer Near Me
Are you facing financial hardships due to an unexpected job loss or illness in Sandston? We understand what you are going through. Dealing with constant creditor harassment can take a mental toll on not only you but your entire family. Let our Sandston bankruptcy attorneys help you stop your financial nightmare and help you get your life back. We have over 60 years of experience helping Virginia residents and small business owners successfully file for bankruptcy under the United States bankruptcy code.
At Fisher-Sandler, LLC – Richmond, VA we have been helping Sandston residents and small business owners file for bankruptcy protection under the US bankruptcy code since 1999. Sharon Choi Stuart, Nathan Fisher, and Michael Sandler have a combined 60 + years of bankruptcy law experience and have filed thousands of successful bankruptcy petitions throughout the Richmond, Sandston and Hanover County areas since 1999. We specialize in filing Chapter 7 bankruptcy, Chapter 11 bankruptcy, and Chapter 13 bankruptcy.
If you are currently facing wage garnishment, foreclosure, eviction, utility bill cut-offs, car repossession, creditor lawsuit and judgments, IRS tax levy, frozen bank account/accounts, etc, the Sandston bankruptcy lawyers at Fisher-Sandler, LLC – Richmond, VA can help you get the debt relief you need and get you on the road to financial recovery. Call our Bankruptcy Law Office today to schedule your FREE consultation and let us help you decide if bankruptcy is the right option for you.
Bankruptcy Services in Sandston
If you’re considering bankruptcy in Sandston Virginia, you’ve probably grown tired of the phone calls from collectors, the threats of lawsuits, and the struggle to pay off your debt. Bankruptcy is a way to start over. It’s a way to reorganize your finances and start out with a clean slate – no more debt, no more trouble with creditors. The idea of bankruptcy may be frightening, but it exists to help you deal with debt, not to punish you for having it.
There are two main types of consumer bankruptcy: Chapter 7 and Chapter 13. Both types come with the protection of the automatic stay, which protects you from creditors during your bankruptcy process. The automatic stay stops all collection actions, repossessions, and foreclosures for the duration of your bankruptcy case.
Our Sandston Bankruptcy Services Offered:
– Foreclosure Defense
– Student Loan Modification
– Property Exemptions
– Tax Forgiveness
– Auto Repossessions
– Stop Creditor Harassment
Sandston Chapter 7 Bankruptcy Attorney
Chapter 7 bankruptcy is referred to as liquidation bankruptcy. It is the most popular and commonly filed bankruptcy case by a very large margin. The most important aspect of Chapter 7 bankruptcy is that it creates a bankruptcy estate around all your property, assets, claims and anything else of value that you may possess. If you have any property that does not have a bankruptcy exemption to protect it, you may lose that property to the Chapter 7 Bankruptcy Trustee who will “liquidate” it for the benefit of your creditors. Although the vast majority of Chapter 7 filers do not lose any property, it is vital that everyone who is contemplating filing for Chapter 7 bankruptcy consult with an experienced bankruptcy lawyer. A Sandston bankruptcy lawyer should be able to quickly inform you if any of your property is in danger of being liquidated.
Can I File Chapter 7 Bankruptcy In Sandston?
It is important to understand that not everyone is eligible to file for Chapter 7 bankruptcy. In order to qualify, one must pass the “Means Test”. The “Means Test” takes your income for the past 6 months and compares it against the median income of people who are in a similar situation as you are (based on household size). The “Means Test” is one of the most difficult aspects of preparing a bankruptcy petition. If your gross income is below your applicable median income figure, then you automatically qualify for Chapter 7 bankruptcy. If your income is above your applicable median income figure, then certain deductions and expenses are taken into account. Some expenses will be based on an average (set by the government) and others will be based on your actual expenses. If the resulting net income is low enough, you will qualify for Chapter 7 bankruptcy. If the resulting net income is too high, you will not qualify for Chapter 7 bankruptcy and will have to consider Chapter 13 bankruptcy.
When you file for bankruptcy under Chapter 7, you receive an “automatic stay” that offers protection against the collection attempts and communication from any and all debt collectors and wage garnishments while your case is being processed by the Court for discharge. This process is relatively efficient compared to other forms of bankruptcy, often lasting just four to six months. Typically there is no minimum amount of debt required to file, and the fees associated with filing are relatively low in comparison to other options available to you.
One of the main distinctions in bankruptcy is between secured and non-secured debt. non-secured debt consists of items that are not backed by collateral, such as credit card bills, medical bills, personal loans, and overdraft fees on bank accounts. In most cases, these debts are automatically dischargeable.
Sandston Chapter 13 Bankruptcy Attorney
There are three different types of bankruptcy proceedings: Chapter 7, Chapter 11, and Chapter 13. A Chapter 13 bankruptcy is unique because it offers debtors an opportunity to maintain possession of their assets while developing a repayment plan. For this reason, many people refer to a Chapter 13 proceeding as a reorganization bankruptcy. In Chapter 7 or Chapter 11 proceeding, by contrast, the debtor turns over possession of his or her assets to the bankruptcy court’s appointed trustee, who then sells certain assets in order to satisfy outstanding debts. Chapter 7 is available only to individuals who can pass a “means test,” while Chapter 13 is generally the process used by people who have somewhat more income and thus do not qualify for Chapter 7.
A debtor trying to use Chapter 13 would need to prove to the court that his or her income is enough to cover the monthly payments established through the repayment plan. In most cases, the repayment plan lasts for three to five years.
One of the central advantages that Chapter 13 may offer is the opportunity to save your home from foreclosure and your car from repossession. This is because, unlike in Chapter 7, you can keep an asset as long as you develop an adequate repayment plan and stick to it. For example, you can potentially stop foreclosure on your home by keeping up with your future mortgage payments while incorporating your delinquent payments into your debt repayment plan. If you keep up with paying that arrearage in set installments during the course of your Chapter 13 proceeding, you likely would be able to keep your home. A Chapter 13 bankruptcy attorney can advise Henrico County residents on whether this may be possible in their situation.
Sandston Chapter 11 Bankruptcy Attorney
A Chapter 11 bankruptcy Case in Sandston begins with the filing of a petition with the bankruptcy court. As with cases under other chapters of the Bankruptcy Code, once the petition is filed, you will immediately get the benefit of the “automatic stay” which is an order that prohibits your creditors from taking collection actions against you. All debt collection action including lawsuits, garnishments, and foreclosures are suspended, giving you time to negotiate with your creditors on a repayment plan. The automatic stay continues until the court approves your plan of reorganization.
After you file for Chapter 11 bankruptcy in Sandston Virginia, you’ll disclose your income, assets, and debts on official bankruptcy forms. It is at that point that you begin negotiating your reorganization plan with your creditors. Why would your creditors be willing to negotiate with you? It is because the creditors know that if they don’t you might be forced to file a Chapter 7 and they would receive little or nothing.
Chapter 11 is a very complex area of law. If you are a high-income debtor with significant assets or if you have exceeded the debt limits of Chapter 13 bankruptcy, you may want to consider filing Chapter 11 bankruptcy. Take the time to talk to an experienced Sandston bankruptcy attorney at Fisher-Sandler, about how Chapter 11 bankruptcy can work for you. Contact us at (804) 664-3643 to schedule your FREE consultation.
Sandston Emergency Bankruptcy Attorney
Filing a bankruptcy petition is usually a long and potentially arduous process. There are many forms to fill out which can take a lot of time to fill so that all assets are properly exempted, creditors properly listed for notice purposes, and most importantly the Means Test and current budget correctly calculated to ensure eligibility. However, if you are facing an emergency situation, you can file an emergency bankruptcy fill out a portion of these to get the process started to invoke the “automatic stay” protection of the Bankruptcy Code. This is usually important for someone who is facing a wage garnishment or foreclosure that they need to stop without having the necessary time to complete the petition properly.
Before the bankruptcy petition (even in an emergency form) is filed, you will need to take a court-approved credit counseling class. This class can be taken online or over the phone. The class usually will only require passing a quiz/test at the end to receive the certificate of credit counseling and a follow-up call with the credit counselor to go over the class. In addition to the certificate of completion of the credit counseling course, it is necessary to list your creditors and complete Form 1 of the voluntary petition.
Once the case has been filed and a case number assigned, the automatic stay prohibits almost all creditors from continuing their collections against you. Any actions at that point without a court approval will be deemed a violation of the bankruptcy stay and can be reversed. From the filing of your emergency filing date, you will have 14 days to file the rest of your bankruptcy petition. In regards to Chapter 13, the repayment plan will also need to be filed in those 14 days. You must also make your first plan payment within 30 days of initial filing, not after the completion of your petition. If the balance of your documents is not filed timely, the Court will dismiss your case and you will still have been considered to have filed bankruptcy.
Sandston Virginia – About
Sandston, Virginia, is a community that serves as a suburb to the state capital of Richmond, and it developed during World War I as a home for military officers and enlisted men. Nevertheless, it is a thoroughly modern community whose residents enjoy the suburban lifestyle and easy access to all of the attractions and options offered by its proximity to Richmond.
Other Cities Served in Henrico County:
- East Highland Park
- Glen Allen
- Henrico County
- Highland Springs
- Short Pump
Henrico County Zip Codes Served: