Maybe you have heard about Chapter 7 and Chapter thirteen bankruptcy (Individuals are the two most frequent bankruptcies for individuals), but Do you realize there are actually six varieties of bankruptcy accessible? Right here's a short rundown of the different types of bankruptcy filings:

Fortunately, you don’t should hire a lawyer that can help using your bankruptcy circumstance. Also, you may be able to obtain the bankruptcy court to waive your filing and credit score counseling costs If the money is small sufficient.

Chapter 7 is usually a bankruptcy filer's 1st option for numerous reasons. It truly is brief, getting only a few months to finish. And It truly is cheap. You do not pay back something to creditors.

That is dependent upon the sort of bankruptcy you qualify for. That has a Chapter 7 bankruptcy, your belongings is going to be bought (apart from Potentially your home and car), and also your creditors are going to be paid out off Using the proceeds.

Determining precisely what is your very best solution and approach of assault is something a qualified Fairfax bankruptcy attorney at Fisher-Sandler will let you decide. Should you are thinking about filing bankruptcy, request your Fairfax bankruptcy attorney about the next Positive aspects:

In Virginia, creditors’ meetings are currently staying held by phone or videoconference a COVID-19 precaution.

Chapter 13 bankruptcy, frequently called “reorganization” bankruptcy, may be used to deal with personal debt in excess of a three to 5 12 months payment time period. In case you have adequate income to repay most within your debts but will need construction during which to do that, Chapter thirteen could be an selection for you.

A qualified bankruptcy attorney usually takes enough time to comprehend your certain financial debt challenges and plans. No matter if you’re focused on keeping your home, go to this website eradicating your debts or saving your organization, your attorney will reveal which bankruptcy chapter or choice personal debt relief strategy most closely fits your preferences.

Chapter seven bankruptcy performs effectively for those who own largely the essential things required to Are living and do the job and not Significantly else. Those with extra belongings could reduce them in Chapter seven as the Chapter 7 trustee, the official liable for the case, sells needless luxury goods and distributes the proceeds to creditors.

I aid customers with lawful troubles within the areas of bankruptcy, divorce, wills and trusts, and probate or estate administration. I'm a highly skilled trial attorney and are actually a member on the Virginia State Bar due to the fact click here to find out more 1987. When I am happy that can help purchasers settle their legal issues expeditiously and at the bottom expenditures to their gratification, I welcome the opportunity to litigate contested matters when settlement is not an acceptable possibility.

Any auto that’s titled with your identify is a component of click here to find out more your bankruptcy estate This means the trustee can provide it to pay your debts — but only if it’s not safeguarded by an exemption (more on this shortly).

As time progressed, Ms. Bradley was in the position to recognize her strengths and follow her passions. She now concentrates her visit the website observe in employees’ payment and Bankruptcy.

Although I had been in regulation college, I had been a summer season law clerk in a company that centered on bankruptcy law. I fell in appreciate Together with the go now interplay concerning a code-based mostly apply, the choose-produced interpretations with the law plus the mixture of both litigation and negotiation.

Steve is really an attorney at Monetary Flexibility Lawful in Richmond, VA. His apply concentrates on symbolizing and guarding the rights of individuals in bankruptcy proceedings. Steve has intensive practical experience practising bankruptcy law, acquiring represented both of those debtors and creditors in bankruptcy proceedings. Considering that 2014, he has represented shoppers completely, and he has assisted thousands of consumers file bankruptcy and navigate the bankruptcy approach.