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Located in Midlothian, Virginia across
from Chesterfield Towne Center

Archive for the “Bankruptcy” Category

Should I Reaffirm my Car Loan or Not?

Posted on September 17th, 2014 by Jessica

Written by: Michael O. Wells In an earlier blog post, I discussed the reaffirmation process, where you agree to keep the loan on your car “alive” and to survive your Chapter 7 bankruptcy discharge. But is reaffirmation the right way to go in all cases? No! If your car is “underwater”, in that the value […]

Bankruptcy and Same Sex Marriage

Posted on February 7th, 2014 by Kelly Davis

It is a poorly kept secret that states are divided on the issue of same sex marriage. Most states, like Virginia, do not recognize same sex marriage. Until recently the federal government did not either. However, the 2013 Supreme Court case U.S. v. Windsor changed that. In U.S. v. Windsor the Supreme Court struck down […]

Is Your House Underwater? If You File a Chapter 13 You May Be Able to Strip Your Second Mortgage!

Posted on April 4th, 2011 by jrsmith

With the recent drastic drop in home values, “lien stripping” can be one of the most useful tools available to debtors in a Chapter 13, who are “underwater.”  At the end of 2010, it was estimated that 10.8 million or 22.5% of all residential mortgages in America were in negative equity or “underwater.” In Virginia, a Chapter 13 […]

Top Reasons to File a Chapter 13

Posted on April 3rd, 2011 by jrsmith

When it comes to filing bankruptcy, the vast majority of people assume a Chapter 7 is the best option; however, there are many reasons why filing a Chapter 13 is the better option and sometimes the only option. You need to stop a foreclosure, respossession or garnishment. When you file bankruptcy your creditors must immediately […]