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Bankruptcy and Debt in Virginia

Get out of debt and save your home
If you are drowning in debt and can no longer make your mortgage payments, you should consider filing bankruptcy. Paragon Law Firm attorney helps assess your situation and advises you if bankruptcy is the best solution to your financial problems. The firm’s fees are reasonable and your lawyer guides you through the entire bankruptcy process.

Chapter 7 bankruptcy starting at $999
If you are an individual homeowner and are struggling to make your monthly payments, bankruptcy may be right for you. In Chapter 7 bankruptcy, your assets are sold and the proceeds are used to pay off your debts. However, some of your assets are protected under Virginia’s homestead exemptions. We will be more than happy to discuss your case with you in a free consultation.

The filing of a bankruptcy petition results in an automatic stay against any type of collections, including foreclosures. Paragon Law Firm helps you file your bankruptcy petition swiftly to get you relief from creditor harassment.

Your obligations in bankruptcy
Virginia law requires you to demonstrate that you will be capable of recovering from bankruptcy. You must receive two phases of financial education — one before you file your petition, and the other before you can receive your bankruptcy discharge.

  • Credit counseling briefing. Before you can file for bankruptcy, you must receive a briefing from an approved credit counseling agency. Paragon Law Firm provides this service.
  • Financial management course. To receive your discharge, you must successfully complete a course in managing your finances. The firm ensures that you attend an accredited program.

Not all debts can be eliminated by bankruptcy. After you receive your discharge, you are still responsible for:

  • Student loans
  • Alimony and child support
  • Punitive fines
  • Traffic tickets

But all of your other unsecured debts are forgiven, and you can make a fresh start.

Other Alternatives to Debt Relief
Usually, bankruptcy will not be your only option. We will discuss all options available to you. This requires a detailed analysis of your financial situation.