John Carter Morgan, Jr. PLLC founder John Carter Morgan is an personal bankruptcy attorney with more than 20 years of experience helping people throughout Virginia. Now with two offices in Warrenton, VA, and Fairfax, VA, he works to get his clients’ lives back on track. In these articles, Morgan offers his insight into matters like bankruptcy law and home foreclosures.
Can Filing For Bankruptcy Earlier Help Protect My Assets?
There are times when it makes sense for people to file for bankruptcy early, such as if they are trying to avoid having a car or home taken away. In most cases though, it makes more sense to hold off on filing for Chapter 7 or Chapter 13 until the later in the game, once it becomes clear that doing so is going to be unavoidable.
Will Filing for Bankruptcy Leave Me Homeless?
Homeowners and renters do not have to worry that filing for bankruptcy will force them out of their homes. On the contrary, filing for bankruptcy actually gives homeowners more time in their homes before a foreclosure can go through. Meanwhile, renters do not have to worry about losing their places of residence as long as they continue making monthly rent payments on time.
What Is a Strip Off?
Increasingly, judges in the Virginia area are allowing certain qualifying homeowners to get rid of their second unsecured mortgages by filing for personal bankruptcy—even though they still get to keep their homes. Various restrictions apply in order to qualify for a strip off though, which is why working with a qualified personal bankruptcy attorney is key.
Do I Have To Reaffirm My Debts After Bankruptcy?
Oftentimes, people who have recently filed for bankruptcy are pushed into reaffirming certain debts that they may not even be required to reaffirm. It is the job of a good bankruptcy attorney to advise his clients on which debts make sense to reaffirm and which do not.
Getting Rid of the Stigma Attached to Bankruptcy
People filing for bankruptcy in Virginia often say they are worried that their employers will be upset if word gets out. Thankfully, there are numerous laws that protect employees from being unfairly penalized by their employers for filing for bankruptcy. As long as a person tells the truth to his employer, he or she should have no trouble passing any security clearances or ethical tests that are required for employment.
This article is for informational purposes only. You should not rely on this article as a legal opinion on any specific facts or circumstances, and you should not act upon this information without seeking professional counsel. Publication of this article and your receipt of this article does not create an attorney-client relationship.
