Bankruptcy

Bankruptcy Lawyer in Chesapeake, VA

Bankruptcy Law is a consumer protection law, which is a federal process that allows you to have your qualifying debts forgiven. The law recognizes that bad things can happen to good people and sometimes you simply do not have the ability to fulfill your creditor's repayment demands. Bankruptcy law does not seek to deter or regulate certain behavior, as other laws do. It simply recognizes that there are sometimes circumstances that are beyond your control, which can only be addressed through the cancellation of debts. Sargent Law Firm PLLC has over 30 years of experience handling bankruptcy matters.

Chapter 7 or 13:

The most common types of bankruptcy are Chapter 7 and Chapter 13. During this difficult and complex time, Sargent Law Firm PLLC can assist you in understanding your options for your specific situation.

Under Chapter 7 of the United States Bankruptcy Code, most of your unsecured debts will be “discharged” so that you will never need to repay those debts. Unsecured debts include credit card debt, unsecured lines of credit, unpaid rent, some judgments and liens, medical bills, shortage claims from vehicle repossessions and home short sales, to name a few. You may be able to keep your house and vehicle if you are current with your payments.

Chapter 13 bankruptcy is an important option in dealing with past due debts when you have steady income that is above the income limits for a Chapter 7. If you do not qualify for Chapter 7 bankruptcy due to income levels may be able to relieve debt and collection activities in a Chapter 13 bankruptcy while keeping secured property such as your home and vehicle.

CALL TODAY FOR YOUR FREE BANKRUPTCY CONSULTATION