Virginia Bankruptcy Filings on the Rise
Posted on Mar 15, 2011 6:00pm PDT
More people in Virginia are filing for Chapter 7 and Chapter 13 bankruptcy. In 2010, filings increased in large part due to the mounting mortgage debt and decreasing incomes. It is reportedly that the personal bankruptcy filings have been rising by about 12% in the last year.
Chapter 13 bankruptcy allows for a payment plan to be devised while assets are still retained. Chapter 7 bankruptcy is liquidation and will have a person selling their assets.
No one wants to file for bankruptcy, but there are cases in which this is the best decision for a person or company to make. You should understand the process of filing and go about it in the correct manner so that your case is resolved in the best possible way. You do not want to have to suffer further as bankruptcy can be a new beginning for your life.
By working with a bankruptcy attorney you can proceed forward with your case in the most beneficial way. You deserve to be able to move forward with your life and a lawyer will be able to help you with just that if you begin discussing your case today. An attorney will know how to handle all aspects of your case including any necessary court proceedings. Please take some time today to contact a bankruptcy lawyer who will always have your best interest in mind during this difficult time.