Chapter 7 Virginia Bankruptcy

Creditor harassment? Overwhelming bills? Unable to pay debts on time? Bankruptcy may an alternative. In Alexandria, Virginia, and in other areas of the Commonwealth of Virginia, we file consumer bankruptcy cases electronically in a paperless environment. This filing using the Internet is called Electronic Case Filing (ECF).

How Chapter 7 and Chapter13 Bankruptcy Works

Our bankruptcies are compiled using state-of-the-art software that cross-references schedules automatically. A "schedule" is a form listing items such as income and expenses, secured property, and unsecured property. "Secured" property is any item a creditor can take away from you if you do not pay. For example, a car loan or a mortgage is called a "security interest" because if you do not pay, you may lose the item secured. After you file your papers (called a petition and schedules), there is a meeting with a trustee and creditors (called a 341 hearing). Then, assuming no complications, after a certain time your dischargeable debts are wiped out.

Each type of consumer bankruptcy we handle in Virginia, Maryland and DC is discussed and priced below.

Key Elements of a Chapter 7 ("No Asset") Case

Wipe out unsecured debts, except for fraud, spousal support and student loans (except in rare circumstances), taxes, and other excluded debts.
Retain some secured property, such as homes and automobiles, as long as you are current on the debt.
Obtain a "fresh start" free of dischargeable debt.
Retain property covered by state exemptions (known in Virginia as your "homestead" and in Maryland as your state debtor exemptions).

Key Elements of Chapter 13 ("Wage Earner Plan")

Wipe out some unsecured debts, except for spousal support and student loans (except in rare circumstances), taxes, and other excluded debts.
Retain some secured property, such as homes and automobiles with a possibility that if the amount you owe the lender exceeds the fair market value of the property, then the amount you owe may be reduced to the fair market value of the property. (This is called "cramming down.").
Pay a fraction of what is due on unsecured dischargeable debts on a monthly basis for up to three years, and then discharge the balance.
Chapter 13 is more expensive because it requires more attorney time than a Chapter 7. In a 13, the attorney must create a payment plan acceptable to the Trustee and the Bankruptcy Court. If this is not possible, you must do a 7.

Attorney Fees (due in full before filing)

	Single	Husband & Wife
Chapter 7
Chapter 13
More Than 20 Creditors
Attempt to Stop Garnishment or Other Collection Activity
Modify Petition or Schedules After Filing
Any Other Complications

Attorney Fees are determined during the initial office consultation. There is no charge for the first half hour provided that you have completed and returned a bankruptcy questionnaire. This introductory meeting is your opportunity to ask any questions. It is my opportunity to discuss the timing of events, percentage chances of success, and proposed fees. In rare cases attorney fees may be payable in installments.

The range of attorney fees shown above is current as of September 2000. Your individual fees depend on the simplicity or complexity of your case, its urgency, and your financial need. The description of fees and services on this web page are only an approximation. The only legally binding fee information is contained in a contract signed by you and your counsel before legal representation begins.

The most important thing about an attorney-client relationship is the confidence you place in your counsel. It is not defined by money. It is defined by the assurance that you have someone competent, effective, efficient and determined, who cares about you and the result you seek. We recommend your selection of attorney not be based on fees alone.

Filing Fees and Other Possible Expenses: Filing fees of $200.00 are in addition to attorney fees and are payable in full before filing. Any attorney fees related to complications (such as debtor motions, opposition to motions by others, adversary proceedings, etc., are in addition to the flat fee and are billed at an hourly rate.

Information Request Form

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After you return a completed questionnaire, you are entitled to a discussion in our office of fees, time line, risks, probability of success, and justification for bankruptcy. Unlike other attorneys, we do not save answers to tough questions until we are hired. If you return the questionnaire and ask the question, we will do our best to answer . If you prefer, the initial consultation is available by telephone.

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© 2001, Olivier Denier Long, 1420 Spring Hill Road, Suite 210, McLean, VA 22102-3026. Telephone: 703-748-0600. Fax: 703-783-0537. Mr. Long is licensed to practice law in Maryland, Washington, DC and the Commonwealth of Virginia.