chapter 13 bankruptcy Archives

Chapter 13 and the meeting of creditors

Filing for bankruptcy is a very real way for Virginians to obtain debt relief. There are two types of bankruptcy available to qualified debtors: Chapter 7 bankruptcy and Chapter 13 bankruptcy. Unlike a Chapter 7 bankruptcy, in which a debtor's assets are liquidated, a Chapter 13 bankruptcy allows individuals to retain their assets so long as they adhere to a court-ordered repayment plan that can span three to five years. At the end of that process, certain debts may be discharged. But the process can be complicated, and fully understanding it can be critical to one's successful utilization of the system.

Credit card debt at highest level in more than a decade

If you listen to the news, then it sounds like the economy is clipping along at a considerable pace. Yet, despite this news, many Roanoke-area residents find themselves struggling to get by. Oftentimes they live paycheck-to-paycheck and are only one unexpected expense away from financial ruin. Others have already turned to credit cards to help makes ends meet.

What are the requirements for filing for Chapter 13 bankruptcy?

Many Virginians struggle with overwhelming debt. An unexpected medical condition, the sudden loss of a job or even a bad turn in the economy can leave an individual facing financial uncertainty. While many individuals remain prideful and try to dig themselves out of their financial hole, in a lot of cases this just makes matters worse. This is especially true because debt relief options are available to those who qualify, meaning that struggling to make good on insurmountable debt is just delaying a fresh financial start.

How does Chapter 13 bankruptcy compare to Chapter 7 bankruptcy?

Whether it is due to a job loss, medical debt, credit card bills or a mortgage, there are many reasons why people in Roanoke may be in serious financial trouble. These problems are only exacerbated when debt collectors start calling, their utilities are turned off or they are facing foreclosure. Fortunately, there is a way to address these problems and obtain a fresh financial start: filing for bankruptcy.

Email Us For A Response

Tell Me About Your Legal Needs?

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Wilson C. Pasley, PLC
11 Franklin Road SW
Roanoke, VA 24011

Phone: 540-627-5026
Fax: 540-342-2282
Roanoke Law Office Map

Phone Numbers: