Bankruptcy Lawyers in Richmond Can Solve Your Fiancial Distress

No one should feel like an inadequate person because they finally find themselves filing for bankruptcy. Corporations do it, the rich and famous do it, and Donald Trump has done it several times. General Motors and Chrysler were forced by the Great Recession to file for bankruptcy. Many workers lost their jobs and suffered through hard times only to lose their homes and their savings. Meanwhile the bills continue to be unpaid and then the harassment from the collectors begin. It doesn’t get much worse for families.

There is relief in sight and the beleaguered families should not hesitate to take advantage of it. The Bankruptcy Lawyers in Richmond can help you solve many financial problems by helping you file for bankruptcy. As soon as they take your case, the debt collectors must stop harassing you. They can deal only with your attorney.

All of your financial obligations are reviewed by your attorney, and they will advise you on what debts can be eliminated totally and which debts can be significantly reduced and put on a payment plan that you can afford over three years. Keep in mind that any debt repayment will not be a burden because the bankruptcy court is concerned about easing or eliminating your burden.

The bankruptcy filing will stay on your credit record for ten years. However, late payments or charge-offs remain on your record for seven years. So, the quicker you file the quicker your debts and the notice of a bankruptcy filing will disappear. If you continue to labor under the hope of reducing your debts, then you are only postponing the inevitable and the longer it will take to get a clean credit record.

Financial problems can tear families apart instead of bringing them closer together. The emotional turmoil can leave scars for a long time. The sooner you file for bankruptcy with the help of Bankruptcy Lawyers in Richmond, the faster you can begin to rebuild the family. Many financial institutions will attempt to position bankruptcy as a great evil, but this is a self-serving action that ignores the fact that bankruptcy is instituted by Congress. This congressional action legitimized bankruptcy as much as it legitimizes actions giving huge tax breaks to wealthy corporations. Click Here.