If you’re tired of feeling like your life has been put on hold because you’re constantly being weighed down by the fears and anxiety associated with debt management struggles, taking firm and decisive action is the first step. Many people don’t want to admit that their financial problems have gotten out of control, or that they’ve gone from problems to major issues that affect every aspect of a person’s life. Unfortunately, ignoring a problem never makes it disappear, and that’s never been more true than when it comes to handling personal finance issues. The sooner you address the problem, the better your chance of finding a solution that you and your loved ones are able to live with.
When you’re ready for a Chapter 7 attorney, Richmond is bursting with options, and there’s bound to be a qualified and knowledgeable lawyer right in your area. Most attorneys offer a free or low-cost initial consultation, during which the lawyer will sit down with you and discuss whether or not Chapter 7 is the right solution for you. Some key factors in determining your eligibility are lack of full-time employment, illness or disability that may keep you from obtaining employment in the future, and income-to-debt ratio. In short, if there’s simply no way that you’re likely to ever have the means to repay your debts, even without the burden of compounding interest and late fees, Chapter 7 bankruptcy provides you with the clean slate you need for a second chance at a solid financial future.
Before seeking a Chapter 7 attorney Richmond residents should be well aware of the importance of the choice they are making in retaining the right counsel. Chapter 7 is also called “liquidation bankruptcy”, because in certain cases, the judge has the right to rule that any assets of value be seized and sold at auction to help pay off your debt. This may include your home, your car, or your business. Fortunately, having the right representation will increase your chances of being granted exemptions by the court, helping you to keep these assets no matter what comes along.