Bankruptcy cannot cure every financial problem.
For example, it usually will not eliminate debts owed to “secured” creditors (i.e., creditors who hold an interest in collateral, such as a mortgage or a car note), though it may allow for a restructuring of that debt. It also will not discharge debts that fall into the following categories: some debts incurred within 180 days prior to filing bankruptcy; child support; alimony; court fines and penalties; some taxes, especially those accrued over the past three years; debts not listed on your bankruptcy petition; loans obtained through fraud; student loans owed to a school or government body which became due less than 7 years before the bankruptcy was filed, unless payment would be an undue hardship; debts that arise after bankruptcy has been filed; or protect co-signers on your debts (when the primary debtor on a co-signed loan discharges the loan in bankruptcy, the co-signers may still have to repay all or part of the loan).
This Is How We Do It:
- Call FerrisWinder, PLLC, at 804-767-1800 or email paralegal Cathy Wright by completing our contact form.
- We’re glad to set up a free consultation to answer your questions and make sure you qualify.
Many of our clients have found the process very helpful in lifting the burden of debt off of their shoulders. They quickly realize that bankruptcy is a useful tool, not a form of punishment. By working together, we can help you keep your home, stop garnishments, stop warrants in debt, stop repossessions, and often pay creditors back at pennies on the dollar.