bankruptcies due to medical expenses


bankruptcy cases attributed to reckless spending


bankruptcies filed by individuals


mega bankruptcies were recorded in the first three quarters of 2020, which is the highest number to date



We get dozens of calls each week from people who are trying to decide whether bankruptcy is a better option than struggling with their bad debt.

There are a number of ways to look at your situation to determine if bankruptcy will get you further ahead credit wise. I want to start by first explaining some of the bankruptcy myths that hold people back from rationally weighing their options logically.

Bankruptcy Myth 1
You can’t recover your from Bankruptcy for 10 years.

This is not true. The confusion here is people mistakenly assume that the length of time a bankruptcy is remains on your credit report is that same as how long your credit is affected. How long a bankruptcy is on your credit report is not the same as how long your credit will be affected. You can recover from the bankruptcy to the point of buying a house within three years. Your “credit” is your credit score, FICO or Beacon. A bankruptcy filing only affects your credit score once and the effect on your credit score is so minimal that within a few months of filing bankruptcy your credit score can be higher than it was before you filed bankruptcy.

Bankruptcy Myth 2
Bankruptcy won’t get rid of all of my debt.

This just a variation of myth one that bankruptcy will hurt you longer than if you struggle with my bad debt and poor credit. I If you look at your debt and your ability to pay it off with a open mind you would realize that the cost of paying off bad debt can be very expense and delay your recovery for years.

So five reasons to file bankruptcy instead of struggling to pay bad debt and continuing to have bad credit.

1) Instant relief. You immediately can stop paying your debt. This can be an enormous relief for most.
2) Instant protection. Whether you have been experiencing garnishments or just harassing collection phone calls, it all stops almost immediately. The protection of bankruptcy is automatic when you file and almost immediate.
3) Affordable. When you consider what you are paying out each year to just maintain your debt, paying a bankruptcy attorney is a bargain.
4) Easy. While you have to assist your bankruptcy attorney by collecting documents, this is considerably easier than the stress of continuing to struggle to pay your debt.
5) Fast Recovery. If you compare how long it would take for you to payoff your debt and recover your credit with the fact that you can buy a house within three years after a bankruptcy.  There generally is no dispute- you can recover your credit faster with bankruptcy.

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!

William E.

Virginia Beach, VA

I met with John Merna and found him to be truthful, experienced and very personable. I would recommend him to anyone seeking legal representation. The experience was quick, straightforward and understandable. The administrative staff was also very supportive and helpful.

William E.

Virginia Beach, VA

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!

Mary F.

Richmond, VA

From the beginning of our journey, both my wife and I felt that we had chosen the right person to lead us thru this difficult time in our life. We felt that we could place our trust in this firm and be confident that we would receive the best legal advice out there. All of the staff was very attentive to our problem and worked diligently to help us resolve our credit problems in the best manner. We were extremely pleased with the guidance and advice given to us by John and his staff.

Daniel A.

Newport News, VA