Chapter 13 Bankruptcy Lawyers in Northern Virginia
Serious illnesses, layoffs or pay cuts at work, adjustable rate mortgages "adjusting" — any of these things can have a devastating effect on an otherwise balanced budget. If you have a regular source of income but not enough to make ends meet (for whatever reason), filing for bankruptcy under Chapter 13 of the U.S. Bankruptcy Code may be the solution you're looking for.
At THE THOMAS LAW FIRM, we can help you understand and explore the Chapter 13 bankruptcy option, and take full advantage of the opportunities it affords if it turns out to be what you want. We can also explain and consider less drastic options such as loan modification that could accomplish your goals without putting a bankruptcy on your credit report. We can even show you how to start rebuilding your credit.
Is Chapter 13 bankruptcy the right solution for you? It might be. It might not. The answer depends on your financial situation and goals. At our firm, you will be able to get the information you need to make an informed decision for yourself. Knowledge is power. Call or contact us for a free consultation today.
The Benefits of Chapter 13 Bankruptcy
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The Automatic Stay: As in
Chapter 7, the moment a Chapter 13 petition is filed with the bankruptcy court, an automatic stay goes into effect. This protects you from further collection actions and continued creditor harassment.
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Keeping Homes and Non-Exempt Assets: While a Chapter 7 petition can stop foreclosure proceedings too, you have to have the financial resources to become current on your mortgage payments immediately. Many people don't have that money. Chapter 13 allows you to repay mortgage deficits over the course of three to five years. It can also protect other assets (such as a second home or a paid-off vehicle) that would have to liquidated in a Chapter 7.
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Personal Integrity: Many people don't feel right about walking away from their debts. Chapter 13 gives people the financial breathing room they need to repay all or at least a meaningful portion of their debt over the course of a manageable three- or five-year plan.
Free Consultations — Se Habla Español
Falls Church Area: 703-639-4585 / Toll Free: 888-589-8716
Since 1996, our attorneys have been helping the people and families of northern Virginia, Maryland and the District of Columbia navigate the bankruptcy process. We can help you too. Call or contact us today for a free consultation. There's no commitment. The consultation is absolutely free — as are the bankruptcy answers and information you'll walk away with.
