The independent city of Portsmouth, Virginia looks out across the Elizabeth River is a special part of the Hampton Roads metropolitan area. It is home to the Norfolk Naval Shipyard, Naval Medical Center and U.S. Navy facilities, a homage to its early military history. The site of Portsmouth was recognized as a suitable shipbuilding location by John Wood in 1620. Olde Towne District has a collection of historically significant homes and the African Methodist Episcopal Church which is the city’s oldest black church. Today, Portsmouth is approaching nearly 100,000 people in it’s diverse and hard working populace. Like any of the cities of Eastern Virginia, financial downturns are part of life for everyone, even our military.
Bankruptcy is a legal process that releases people from debts they are no longer able to pay. For Portsmouth citizens and all US consumers there are two types of bankruptcy, Chapter 7 and Chapter 13. Chapter 7 eliminates (or discharges) most debts without further payment. Some debts such as recent taxes and child support are not dischargeable. Chapter 13 is a restructuring of debt and consolidates all of your debt into a court approved “plan”. Most Portsmouth consumers who do not own their home or have valuable property file Chapter 7 while homeowners typically file Chapter 13 which allows them to keep their homes while under the court appointed plan.
While it is possible to conduct these legal processes on your own, bankruptcy can be a complicated process and challenging for most people. Individuals in Portsmouth that are comfortable with legal jargon, forms and court processes are likely candidates for self filing. However, It is better to work with someone to work on your behalf to insure your filing process is efficient and results in a successful discharge of your debt the first time. Merna Law has helped thousands of Portsmouth and south side residents navigate the process and has free consultations and convenient payment plans. A free phone call with one of our bankruptcy lawyers is a great first step in deciding if your current financial situation would improve as a result of bankruptcy.
We are committed to helping residents of Portsmouth and surrounding communities get back on their feet as painlessly and quickly as possible.
VIRINGIA BANKRUPCY ATTORNEYS
Merna Law are bankruptcy attorneys in Virginia serving the citizens of Virginia Beach, Newport News, Richmond, Norfolk, Chesapeake, Suffolk, Portsmouth, Hampton, Gloucester, York, Williamsburg, Henrico, Chesterfield, Fredericksburg, Eastern Shore, Petersburg, Hopewell, Franklin, Midlothian, Chester, South Hill, and Emporia.