Consumer Bankruptcy Lawyers in Charleston, West Virginia

Find the right Consumer Bankruptcy attorney in Charleston, WV

Bankruptcy allows an individual or business to get rid of some or all of its debt. Typically, bankruptcy should only be considered when the debt is completely unmanageable, impossible to pay off, and there are no other options. However, in some cases, the benefits of bankruptcy can substantially outweigh the costs. Bankruptcy is governed by federal law, and proceeds in federal courts. So, the procedure for filing for bankruptcy in West Virginia will be very similar to the procedure anywhere else in the U.S. However, individual bankruptcy courts have different rules for exemptions, so it might be a good idea to consult with a local attorney in Charleston, West Virginia before filing.

Chapter 7 Bankruptcy in Charleston, West Virginia

In Charleston, West Virginia, there are 2 commonly-used forms of consumer bankruptcy: Chapter 7 and Chapter 13. Chapter 7 bankruptcy involves a liquidation of some of the debtor's assets, which pays off part of his or her debt. Once this is done, the remaining debt is absolved. Fortunately for debtors, many types of property are exempt from liquidation, including homes, vehicles, basic personal items, and retirement accounts.

Once qualified assets are sold, and the money turned over to the creditors, most remaining debt is absolved. However, there are certain types of debt that cannot be absolved in bankruptcy, including student loans, taxes, child support, and criminal fines. If most of your debt is non-dischargeable, it may not be a good idea to file for bankruptcy in Charleston, West Virginia.

Chapter 13 Bankruptcy in Charleston, West Virginia

Chapter 13 bankruptcy in Charleston, West Virginia is markedly different. It may or may not be a better option than Chapter 7, depending on the facts of your individual case. Chapter 13 does not absolve debt, but restructures it instead. Normally, various debts are consolidated into a single monthly payment. This is designed to make the debt more manageable, giving the debtor the chance to pay off the debt over a longer period of time, without all of it coming due at once. This is normally manageable, as long as the debtor can make some sacrifices.

Which Type of Consumer Bankruptcy Should I File in Charleston, West Virginia

This depends entirely on the facts of your individual case. If you have a decent amount of steady income, and a large amount of non-exempt property which you don't want to part with, Chapter 13 might be the best option for you. If most of your property is exempt, and you don't have much steady income, Chapter 7 might be the best option.

Of course, you should always seek the counsel of an experienced local Charleston, West Virginia bankruptcy attorney before you make the decision to file. He or she will be able to advise you of your options, and suggest the best possible course of action for your individual situation.

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Life in Charleston

Charleston is the capital of West Virginia. Per the 2010 census, it has a population of 51,400 people. Surrounding areas include the rest of Kanawha County, Elk River, and Kanawha River.

Top employers include Appalachian Power, Mountaineer Gas Company, Charleston Stamping and Manufacturing, MATRIC, NiSource Gas Transmission Storage, Walker Machinery, West Virginia-American Water Company, and Frontier Communication. To support such large corporations, the legal force in Charleston is well-equipped with many attorneys who are familiar with business law. Further, the legal force is also capable of handling the needs of local residents.

Famous past residents include Jean Carson, Conchata Ferrell, Allison Hayes, Ann Magnuson, Randy Moss, Leslie Nielsen, Jerry West, Jason Williams, and Booker T. Washington.

When next in Charleston, be sure to check out popular attractions such as the Avampato Discovery Museum, Sunrise Museum, the Capitol Theater, South Charleston Museum, Appalachian Power Park, Danner Meadow Park, Coonskin Park, Ruffner Park and Shawnee Park.

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