Can Chapter 7 Help You Get Back On Your Feet?

When you're facing a difficult financial situation, you may find yourself wondering whether a Chapter 7, or "fresh start" bankruptcy, is right for you. While filing for bankruptcy can be daunting, especially after dealing with the financial stress that proceeds it, having an experienced attorney to help get you through the process can make the process less confusing and easier navigate.

At the Law Office of Deborah N. Arthur, our bankruptcy attorney has been serving the legal needs of people throughout Northern Virginia since 1982. Our clients appreciate the compassionate and personal service we provide to them in their time of need — we help them put their minds at ease when they're feeling financial stress. Our legal team focuses on making the filing process easier for you by thoroughly investigating your situation and guiding you through the solution that best fits your needs.

What Is Chapter 7 Bankruptcy?

Chapter 7 bankruptcy is intended to wipe the slate clean and give you a fresh start, a chance to rebuild your credit and start over without the weight of previous debt. During a Chapter 7 proceeding, a trustee will be assigned to liquidate and sell all your assets that don't qualify for an exemption and distribute the proceeds of the sale to your various debtors to help satisfy your debt. You may need to file for Chapter 7 bankruptcy if you have large medical bills or credit card debt with little assets or income to satisfy the debts and payments. A Chapter 7 proceeding will wipe most or all of this debt (depending on the types of debts), relieving you from late charges, fees and interest that would otherwise continue to accumulate.

At the Law Office of Deborah N. Arthur, we thoroughly explore all your available exemptions with the goal of you retaining all your property if possible. We will listen to your concerns, take the time to understand your situation and use our years of experience to come up with a solution to help you obtain the best outcome for your Chapter 7 bankruptcy. Our priority is to help you obtain the fresh start you need.

Bankruptcy Exemptions

During your bankruptcy proceeding, there are certain assets that will be exempt from liquidation for the repayment of your debt. Some of the exemptions the state of Virginia allows for bankruptcy proceedings include:

  • Personal injury and wrongful death settlements
  • Fraternal society benefits
  • Health savings accounts
  • Homestead exemption
  • Burial funds
  • Motor vehicle exemption
  • Pensions and retirement benefits
  • An amount for household goods and furnishings
  • Public benefits
  • Child support and alimony
  • Workers and unemployment compensation
  • A portion of your wages

If you are considering bankruptcy, an experienced lawyer can help you navigate the system and give you a chance for the best outcome possible. Contact us online, or call 703-278-2028 today to schedule your free bankruptcy consultation with a dedicated, compassionate attorney at the Law Office of Deborah N. Arthur. From our office in Annandale, we help people throughout Northern Virginia.

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