Select Page

Richmond BankruptcyRichmond Bankruptcy (Consumer) Filings Drop 16% In First Quarter 2013

by John G. Merna

Are things getting better in Richmond, Virginia? Well, if a drop in Richmond bankruptcy filings by consumers this year is any indication… they are.

In the first quarter of this year the consumer bankruptcy filings drop 15 percent over the same time last year in the Richmond Bankruptcy Court which is part of the Eastern District of Virginia. From January to March 2013 there were 900 Chapter 7 bankruptcy cases filed and 885 Chapter 13 bankruptcy cases filed. During the same time last year there were 1118 Chapter 7 Richmond bankruptcy cases filed and 989 Chapter 13 Richmond bankruptcy cases filed. These statistics do not include Chapter 11 bankruptcy filings which are commercial or large debt holder reorganizations.

The primary reasons for Richmond bankruptcy filings include medical debt, divorce, job loss, foreclosure. Chapter 13 bankruptcy is a debt repayment plan. Chapter 7 bankruptcy is a liquidation or elimination of unsecured debt.

Richmond’s economy and the economy in Virginia have been experiencing the same difficulties as many areas of the country. Since the recession started in 2008, layoffs and a soft real estate market has further stressed consumers and driven many into bankruptcy.  Despite it’s close proximity to Northern Virginia, which benefits from an abundance of federal dollars assisting the local economy in recovering, Richmond has not had the same ingestion of financial support.

The Richmond bankruptcy court, located in downtown Richmond, has jurisdiction over cases from outlying counties including Mecklenburg, Dinwiddie, Brunswick, Greensville, Sussex, Surry, Prince George, Lunenburg, Prince Edward, Nottaway, Chesterfield, Amelia, Powhatan, Goochland, Henrico, Charles City, New Kent, Hanover, Spotsylvania, Caroline, King Williams, King and Queen, Middlesex, Essex, King George, Westmoreland, Richmond, Northumberland, and Lancaster. The highest concentration of bankruptcies filed in Richmond come from closer to Richmond such as Chesterfield, Henrico and the City of Richmond.

CLICK: HERE TO SCHEDULE AN APPOINTMENT WITH A RICHMOND BANKRUPTCY LAWYER ABOUT ELIMINATING YOUR DEBT.

OR CALL 804-222-0400 TO TALK DIRECTLY TO AN ATTORNEY.

ALSO SEE:

 

Google+

REQUIRED BAR NOTICE: THESE TESTIMONIALS DO NOT GUARANTEE SIMILAR RESULTS.

 The Merna Law Group, Attorneys At Law, P.C. …very helpful and friendly!5 Stars! “Everyone at the office was very helpful and friendly. The attorney answered all of our questions and helped us through the entire process. He was also very helpful answering concerns that we had after the process was completed/over. Highly recommended!” Reviewed by M.E. of Virginia Beach on Mar 11 . 
 The Merna Law Group, Attorneys At Law, P.C. …debt free!5 Stars! “A friendly staff and outstanding attorney who helped me through a difficult time in my life. Thanks to everyone at the Merna Law Group who helped me move on to and new chapter in my life debt free!” Reviewed by M.F. of Norfolk on Mar 8 . 
 The Merna Law Group, Attorneys At Law, P.C. Didn’t have to worry about anything!5 Stars! “Just keep providing the type of service you do. You business values are based off reliability and service. Today’s Law Offices just don’t offer that kind of experience. Didn’t have to worry about anything!!! Just being able to go on with my normal life and know that all my issues are well taken care of is a relief in itself.” Reviewed by A.P. of Virginia Beach on Mar 4 . 
 The Merna Law Group, Attorneys At Law, P.C. …kind and friendly from the start!5 Stars! “Everyone there was kind and friendly from the start and helped us with everything in a timely manner. They were never rude no matter how much we called or asked questions.” Reviewed by B.P. of Virginia Beach on Feb 20 . 
 The Merna Law Group, Attorneys At Law, P.C. …overall experience was outstanding!5 Stars! “My husband and I were very happy with The Merna Law Firm. They are well organized, time manageable, and friendly. I was even able to bring my children with me if I needed to. In court, they stayed right there beside us and answered all questions we had. Our overall experience was outstanding and I am glad we were represented by the Merna Law Group.” Reviewed by A.M. of Suffolk on Mar 5 .