There are several options available to individuals who are going through financial hardship and want to stop debt harassment in Virginia. However, it may not always be clear which option is right for you. If you are struggling with debt, you may have considered filing for Chapter 7 bankruptcy. If you’re not sure if Chapter 7 is right for you, or if you’re not sure what it means to file for Chapter 7 bankruptcy, it is worth consulting with a Falls Church bankruptcy lawyer who can help you plot your best course of action.
If you file for Chapter 7 bankruptcy in Northern Virginia, you essentially will be exchanging your non-exempt property for a discharge of some or all of your debts and the ability to make a fresh start. Although it may be the best option in many bankruptcy cases, Chapter 7 isn’t necessarily right for everyone.
In general, Chapter 7 bankruptcy may be of most benefit to you if:
- Your creditors already are threatening to take your non-exempt property.
- Most or all of your debts will be discharged in the Chapter 7 bankruptcy process.
- You do not own any non-exempt property that you feel you can’t lose.
Before you decide how to proceed, please take the time to meet with an experienced Falls Church bankruptcy lawyer in a completely free and confidential consultation. During our first meeting, we can discuss whether Chapter 7 bankruptcy is the right option for you and how the process will affect you and your family. Just give us a call today at 877-344-8189, or fill out our easy online contact form for more information.