Chapter 7 Bankruptcy

The most common form of bankruptcy for individuals is Chapter 7.  To qualify for a Chapter 7 bankruptcy, a debtor must pass the “means test” which analyzes your income and expenses to determine if you have any ability to pay creditors.  If you don’t, then you can proceed with a Chapter 7 and your nonexempt assets will be liquidated to repay your debts.  Once this is done, you will receive a discharge of all debts.  Keep in mind that a significant portion of your property can be exempted from the bankruptcy estate and that the U.S. Trustee (representing the interests of creditors) only cares about those assets with equity. So not all property will necessarily be taken from you and liquidated.  It is important that you consult with an attorney to maximize your exemptions.

Ratings and Reviews

Our office is conveniently located near the East Falls Church, West Falls Church and Tyson's Corner Metros, and right off major highways US 66 and 495. We service clients from all over Northern Virginia and D.C., including Manassas, Alexandria, Falls Church and Fairfax.