Chapter 7 Bankruptcy in Richmond, VA

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At Bruce W. White, P.C., we have filed thousands of Chapter 7 cases and understand how to structure filings to maximize protection and minimize risk. 

Chapter 7 bankruptcy provides powerful debt relief by eliminating most, if not all, unsecured debt and giving you a true fresh financial start. For individuals and families, Chapter 7 bankruptcy can discharge burdensome debts without requiring a long-term repayment plan. A successful Chapter 7 bankruptcy may eliminate many types of unsecured debt, including: 

• Credit card debt
• Personal loans
• Medical and hospital bills
• Payday loans
• Past-due utility bills
• Certain older tax debts
• SBA loans and other qualifying business-related obligations
   

Unlike Chapter 13 bankruptcy, Chapter 7 does not require you to repay your debts over time. Instead, eligible debts are discharged and permanently eliminated by the Bankruptcy Court.

When you file for Chapter 7 bankruptcy, federal law immediately triggers an automatic stay, which stops creditor actions, including:

• Harassing phone calls and collection letters
• Lawsuits and judgments
• Wage garnishments and bank account garnishments
• Repossessions
• Foreclosure proceedings (temporarily)
   

Chapter 7 bankruptcy can be filed individually or jointly as a married couple, whether you are single or married.

If you are overwhelmed by credit card bills, medical debt, or other unsecured obligations, filing Chapter 7 bankruptcy in Richmond, VA may allow you to regain control of your finances. At Bruce W. White, P.C., we have decades of experience helping clients achieve meaningful debt relief and long-term financial stability.

Most individuals who file for bankruptcy qualify for Chapter 7. In fact, according to the U.S. Trustee Program Annual Reports for Fiscal Years 2022 and 2023, approximately 60% of all bankruptcy filers chose Chapter 7, reflecting the need for complete debt relief rather than repayment plans.

However, eligibility depends on several important factors that should be evaluated by an experienced bankruptcy attorney in Richmond, VA.

• You may only receive a Chapter 7 discharge once every eight years.
• If Chapter 7 is not available, you may still qualify for Chapter 13 bankruptcy, which also stops collection actions, judgments, wage garnishments, and bank levies.
   

Eligibility is determined through the Means Test, a legal analysis performed by your bankruptcy attorney using information gathered during your initial consultation. 

To qualify for Chapter 7 bankruptcy, your gross household income must generally fall below certain limits based on family size. As of April 2025, the approximate income thresholds are:

• $77,420 for a single person
• $97,833 for a household of two
   

 If your income exceeds the limits, Chapter 13 bankruptcy may be a better option. 

Filing Chapter 7 bankruptcy without proper legal guidance can be risky if you own property with significant equity. In some cases:

• Real estate with excessive equity could be sold by the Chapter 7 Trustee
• Vehicles, boats, or other valuable personal property may be at risk
   

Virginia exemption laws protect certain assets up to specific limits. One of the most important roles of a knowledgeable bankruptcy attorney in Richmond, VA is protecting your property and ensuring your bankruptcy strategy aligns with your financial goals.

If you are struggling with high debt balances and cannot keep up with monthly payments, Chapter 7 bankruptcy may be the fresh start you need. Attorney Bruce White will personally review your situation, explain your options, and guide you through every step of the bankruptcy process.

📞 Call (804) 288-4328 today for a free telephone consultation.
At Bruce W. White, P.C., we are committed to helping you put your financial future back on track with confidence and clarity.