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Wytheville Personal, Business And Farm Bankruptcy

Bankruptcy is a time-honored method of debt relief mentioned in the United States Constitution. It has been used by famous Americans such as Abraham Lincoln and Thomas Edison as well as by many ordinary people — perhaps some of your neighbors, co-workers or family members. It is not a matter of shame to take advantage of the law's provisions for reducing or wiping out unmanageable debt.

From Law Offices In Wytheville And Christiansburg, We Can Advise You On Debt Relief

Contrary to popular notions, bankruptcy is not a sign of moral weakness or personal failure. The vast majority of people who file bankruptcy fully intended to repay their debts, but were unable to do so due to circumstances beyond their control. Many people have made minimum payments as long as they could and then experienced some crisis such as a business failure, a car accident, a health problem or a financially disruptive family situation.

Regardless of the causes of your debt troubles, Scot S. Farthing Attorney at Law, PC, can answer questions and explain how bankruptcy can:

  • Stop foreclosure and allow you to save your house despite mortgage default
  • Stop wage garnishment so you can keep the current income you need to live on
  • Stop bank account levies and other aggressive actions by creditors
  • Stop creditors' harassing phone calls and other forms of intimidation

Deal With Your Unmanageable Debt

Filing bankruptcy, depending on your circumstances, may be the most honest, responsible way to deal with crushing debts resulting from:

  • Medical expenses
  • Job loss or income reduction
  • Business failure or slowdown
  • Divorce or death of a spouse
  • Natural disaster or home fire
  • Overuse of consumer credit
  • Mortgage troubles

Perhaps you have been trying and trying to pay off your debts and feel you are spinning your wheels. Filing bankruptcy does carry consequences, but it can allow you to bounce back and restore your credit more quickly and decisively. Many bankruptcy filers are able to purchase cars and homes soon after the bankruptcy is complete.

Determine The Type Of Bankruptcy Suitable For Your Circumstances

Once you decide that bankruptcy will be the most effective debt relief solution available, you and your attorney will determine together what type of bankruptcy is right for you.

  • Chapter 7 bankruptcy can wipe out most or all of your debts permanently. A required means test can determine whether you qualify for this type of bankruptcy.
  • Chapter 13 bankruptcy means court-supervised debt consolidation and reorganization, with a three- to five-year repayment period. At the end of that period, remaining debt can be discharged. This is a common debt relief solution for debtors with significant home equity, parents with back child support to repay or taxpayers with tax arrearages to repay.
  • Chapter 11 bankruptcy is a common solution for businesses. Chapter 12 bankruptcy is most often used for farms.

Contact Us To Discuss Bankruptcy As A Debt Solution

Wytheville personal, business and farm bankruptcy attorney Scot S. Farthing is prepared to handle your bankruptcy efficiently, with your long-term financial best interests in mind. Email the firm or call 540-216-0452 or 276-200-2676. Schedule a consultation with an experienced, caring and efficient Virginia bankruptcy lawyer.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

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