I am currently unemployed. Should I file for bankruptcy in Virginia?
Unfortunately, there is no blanket answer to whether or not you should file for bankruptcy in Virginia if you are unemployed. Much will depend on the specifics of your situation, and you should probably seek guidance from a Falls Church bankruptcy attorney directly to answer your questions.
In general, there is some argument about whether it makes sense to file for bankruptcy if you’re not currently working. Some people feel that filing for bankruptcy while you are unemployed doesn’t serve much of a purpose. Because your creditors are unable to garnish your wages or collect your debts, and because one of the main perks of filing for bankruptcy is stopping garnishment and debt harassment, some people believe that bankruptcy isn’t all that useful to those who are unemployed.
However, you may choose to file for bankruptcy when you are unemployed to aid in building a better financial future. If you are already missing payments, bankruptcy could actually improve your credit score over time and limit some of the long-term effects of short-term unemployment. Additionally, filing for bankruptcy now may mean that you can keep your house or avoid the stress of wage garnishment once you are working again.
Again, if you have questions about whether or not you should file for bankruptcy in Virginia, I strongly encourage you to meet directly with an experienced Northern Virginia bankruptcy lawyer. To schedule a completely free and confidential case evaluation, just give the Strong Law Firm a call today at 703-350-4241 or fill out the easy contact form on this page.