Chesapeake, Virginia

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Overcoming a Bankruptcy in Chesapeake

Few things are more heart wrenching than realizing your only option for getting out of debt is by filing a bankruptcy in Chesapeake. You may feel embarrassed, ashamed, and even guilty for ending up in a financial mess but remember these emotions are normal and expected. Although this is a very difficult situation, working with a qualified bankruptcy attorney in Chesapeake will help in getting your life back in order.

Bankruptcy knows no boundaries, meaning this is something that millions of people throughout the country face every year regardless of age, gender, or race. Filing for bankruptcy in Chesapeake is hard for everyone, especially if it means losing valuable assets. Rather than allow yourself to feel defeated, consider the situation as a chance to start over.

Like most people overwhelmed with debt, you have probably been hounded by creditors for months, perhaps even years. A tremendous amount of time and effort has been invested in skirting the issue while desperately trying to find a viable solution outside of hiring a bankruptcy attorney in Chesapeake. Once bankruptcy is filed, all the letters and phone calls stop. This reduces stress and gives you much-needed breathing room.

Bankruptcy Exclusions

By working with a top-notch bankruptcy attorney in Chesapeake, you will gain a much better understanding of what will and will not be included in the filing,. Inclusions and exclusions are based on the type of debt but also type of bankruptcy. Some examples of exclusions for bankruptcy in Chesapeake include:

  • Chapter 7
    • Taxes and tax liens
    • Student loans
    • Alimony and child support
    • Cooperative or condominium assessments or association fees
    • Debts for penalties or fines owed to government entities
  • Chapter 13
    • Child support and alimony
    • Student loans
    • Fines and restitution
    • Some taxes
    • Judgments in a personal injury or wrongful death case associated with your intoxication
    • Interest owned on non-dischargeable debts

Other exclusions apply but there are also multiple inclusions. Again, the bankruptcy attorney in Chesapeake that you hire will go over your financial situation in great detail to determine the right type of bankruptcy but also the best approach to getting you out of debt without losing everything.

Some of the things that are included when filing a bankruptcy in Chesapeake include rent, mortgage payments, automobile loans, utilities, cell phone, internet, utilities, some of loan payments, start up business expenses, medical bills, and more. The amount of assets you have, minus a few exceptions, will be liquidated as a means of paying off creditors.

The process of filing for bankruptcy in Chesapeake is complex, especially with so many new rules and regulations. To walk away in the best possible situation, you need an attorney who practices bankruptcy law on your side.

To start the journey to recovery, free bankruptcy advice is available through dedicated services like Bankruptcy-America, as well as several located locally in Chesapeake.

[i] PR NewsWire – http://www.prnewswire.com/news-releases/chesapeake-corporation-announces-bankruptcy-court-approval-of-sale-to-investor-group-61915417.html

[ii] UpNorthLive – http://www.upnorthlive.com/news/story.aspx?id=784878