Hampton Roads Chapter 7 Bankruptcy Lawyer
People struggling with debt often want to face their problem head-on, but fear the unknown of bankruptcy and other debt relief options. It helps to have someone who will take the time to clearly explain the options available to you, and help you choose the path that best serves your interests. Chapter 7 bankruptcy can give you a fresh financial start through debt liquidation while putting an end to creditor harassment.
The Law Offices of Gary W. Searcy, PLC
757-490-3506 | E-mail
At The Law Offices of Gary W. Searcy, PLC, we have focused on helping Virginia families find debt relief for 26 years. We will take the time necessary to discuss your specific situation and determine if Chapter 7 is the right choice for you.
Chapter 7 Bankruptcy
Chapter 7 is also known as straight bankruptcy, and it is the most common type of case. Someone who uses Chapter 7 has few or no assets available to pay creditors, and the discharge applies to most debts. Discharge means your debts are waived or dismissed.
Key points to know about Chapter 7 are:
- You must qualify to file Chapter 7 based on your income and a means test set out in bankruptcy law. If you can afford to repay a portion of your debts, you may have to use Chapter 13 bankruptcy.
- Certain available assets, called nonexempt property, may be sold by the bankruptcy trustee to pay your creditors.
- You may keep exempt property such as wedding rings, some furniture and household items, which are protected from your creditors' reach.
- The Chapter 7 discharge applies to most common debt types, including credit cards and medical bills.
Hampton Roads Personal Bankruptcy Attorney
The Law Offices of Gary W. Searcy, PLC, will work diligently to understand your specific financial situation, offering advice on protecting your assets and providing information on which of your debts can be erased. While many debts, including credit cards, medical bills and Internet loans can be discharged in Chapter 7 bankruptcy, some debt such as tax arrears and student loans cannot. We strive to help you understand the advantages and benefits of each bankruptcy option, or offer advice on how to find relief if bankruptcy is not in your best interest.
Contact The Law Offices of Gary W. Searcy for a Free Consultation
When you need experienced consumer bankruptcy law representation and a lawyer who will carefully explain all of your options, contact The Law Offices of Gary W. Searcy, PLC, in Virginia Beach, Virginia. Conveniently located just off Interstate 264 approximately one mile from Lynnhaven Mall, our offices are easily accessible and provide ample free parking. If more convenient, our Chesapeake office is located at 501 Independence Parkway, Suite 102. Call us today at 757-490-3506 or e-mail our Virginia bankruptcy attorney to schedule a free consultation.