Virginia Bankruptcy Information Lawyer
Information Is Power When Considering Bankruptcy
For valuable information about the bankruptcy process, and to determine if bankruptcy is your best debt relief option, contact The Law Office of Kirk D. Berkhimer, serving the Tide Water area. Otherwise, read the information below:
Who Should Consider Filing for Bankruptcy?
Bankruptcy is not for everyone. However, it may be time to seriously consider bankruptcy:
- If negotiating with creditors has failed
- If debts exceed income / assets
- If your goal is to stop harassing phone calls and other collection actions
- If other debt relief options have failed
If you are undecided about whether or not to file bankruptcy, you should talk to a lawyer. Our law firm will provide you with straightforward and honest advice about your financial situation, and recommend a course of action. If bankruptcy is determined to be your best option, we can walk you through the legal steps involved.
Should I File Individually or With My Spouse?
Married couples have an option to file bankruptcy jointly. Doing so may save time and money, as only one bankruptcy filing would need to be done.
Filing bankruptcy individually during marriage does not mean that the non-filing spouse is bankrupt. One spouse filing bankruptcy will generally have little effect on the non-filing spouse. To ensure that the non-filing spouse's assets are protected through bankruptcy, talk to a lawyer.
If you are considering divorce, the question of filing individually or jointly needs to be addressed. There are advantages to both. Contact a bankruptcy lawyer to find out more.
What Type of Bankruptcy Is Right for Me?
Our firm assists clients with two types of bankruptcy: Chapter 7 bankruptcy and Chapter 13 bankruptcy. Chapter 7 bankruptcy eliminates debt, while Chapter 13 bankruptcy reorganizes debt. Eligibility for Chapter 7 bankruptcy is determined through a means test. Even if someone is not eligible for Chapter 7, he or she may still be eligible for Chapter 13.
Contact Us for Bankruptcy Information
To find out how to file bankruptcy, when to file bankruptcy, and other important bankruptcy information, contact an attorney to schedule a free consultation.
