The capital city of the Common wealth of Virginia, Richmond is the fourth most populous city in the state. Richmond and the Richmond Metropolitan Area is home to to nearly 1.3 million Virginians. When Patrick Henry delivered his famous “Give me liberty, or give me death speech” in St. John’s Church in Richmond, our country was just forming the First Continental Congress. Then, in 1780, the state capital was moved from Williamsburg to Richmond. Certainly, Richmond has serve as a home for history, legislation and our government. It would take another twenty years for the first official bankruptcy law to be enacted in 1800 in response to land speculation but was promptly repealed in 1803. Other measures would follow in the same manner for many years in response to economic conditions and uncertainty. Then in 1978 Congress created the Commission of Bankruptcy Laws of the United States and Chapter 7 and Chapter 13 bankruptcy were created to grant relief to citizens going through financial difficulties.
Bankruptcy is a legal process that releases people from debts they are no longer able to pay. For Richmond 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 Richmond 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 Richmond 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 Richmond 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 Richmond and surrounding communities get back on their feet as painlessly and quickly as possible.
VIRGINIA BANKRUPTCY 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.
Alert for Richmond residents – The U.S. Banruptcy Court for your jurisdiction is located at 701 E. Broad Street, Richmond, VA 23219 (@37.5411193,-77.4378043)
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