• Bankruptcy

  • With the current economy, more and more families face unmanageable and insurmountable debt. A job loss, injury, or even minor financial setbacks can leave your family unable to keep up with monthly expenses, struggling to make ends meet or at the risk of foreclosure. At Williams Stone Carpenter Buczek, PC, with offices in Stafford & Fredericksburg, we offer experienced and strategic support focused on helping our clients achieve debt relief through bankruptcy. Our priority is to maximize your exemptions and discharge in the bankruptcy process. We will work to help you on your road to financial independence. 

    What You Should Know Before Filing for Bankruptcy

    Most people consider bankruptcy for months or years before making the decision to file. Waiting too long to file can increase your debt and make it more difficult to preserve your assets. When you are considering bankruptcy, it is important to consult with an attorney who can protect your rights. Our attorneys take the time to review your assets, income and debts, and works to maximize your exemptions and discharge at the time of bankruptcy. We also explores alternatives to bankruptcy, where possible.

    • Spousal support, taxes, and student loans cannot be discharged
    • You can protect your home from foreclosure by filing for bankruptcy
    • Creditors cannot come after your spouse if filed properly
    • You may lose assets, but usually you can protect them through exemptions
    • Chapter 7 discharges unsecured debts including credit cards and medical expenses
    • Chapter 13 allows you to create a repayment plan over three to five years

    Chapter 7 or "Liquidation Bankruptcy"

    Chapter 7 bankruptcy is a debt relief option for individuals and families with a significant amount of unsecured debt. To qualify for Chapter 7 bankruptcy you must pass the "means test" which assesses your debts and makes sure that your income is less than the median state income. While bankruptcy may affect your credit for a long time, it may be a good solution if you are unable to recover from debt. We will help you decide if bankruptcy is the right option for you. 

    Chapter 13 Bankruptcy and Protection Against Foreclosure

    If you are trying to save your home from foreclosure, you can pursue Chapter 13 bankruptcy and immediately stop a foreclosure sale. If you are not going to try to save the house, you may be able to stop making payments and, if the lender agrees, a short sale will pay off the mortgage to creditors. Our lawyers help you determine the best option to protect your investments and assets in the bankruptcy process. Call our attorneys at Williams Stone Carpenter Buczek, PC today us to discuss these services.