Chapter 7 Bankruptcy Lawyers in Fairfax VA

Chapter 7 Bankruptcy - Also known as “Liquidation” or “No-Asset” case.

There are two types of Chapter 7 Bankruptcy Petitions. One is for a consumer (an individual) and the other is for business.

When a Consumer files for a Chapter 7 bankruptcy, a Trustee is appointed by a Bankruptcy Court to review the case and determine if there is any property which can be sold and distributed among the creditors. In most Chapter 7 bankruptcy cases, the Trustee determines that there is no property (which is above the allowed exempt property), a Trustee’s Report of No Distribution is issued in the case.

If you are overwhelmed by debt and can’t find your way out, you don’t have to fight the battle alone. You only need to speak to one of our experienced Bankruptcy lawyers in Fairfax and he/she will tell you what your next move should be.

In order to have that determination, a meeting of creditors is schedules within four to six weeks of the filing of Chapter 7 Bankruptcy case. The Trustee inspects the bankruptcy filing and have debtor answer certain questions under oath. Generally, at the end of the meeting, Trustee notifies his/her intention to issue a No Distribution Report. If Trustee requires more information which may be helpful in such a determination, he/she would request the debtor or his/her attorney to provide Trustee with that information within a specific period of time.

If debtor fails to attend such meeting of creditors (also known as 341 meeting), the Trustee can request the court to dismiss the case. It is, therefore, very important to attend this meeting.

Exactly 60 days after the meeting of creditors, an Order of Discharge is issued by the Bankruptcy Court. Which, in simple words, means that debtors debt is discharged or forgiven.

Reclaim control of your financial future

At Mehnaz Khan Law, PLLC, we believe that everyone deserves a second chance. When you are going through a rough financial patch, our attorneys will work with you and come up with debt relieving solutions so that you can get back on your feet.

Through bankruptcy, loan modifications and other options, our bankruptcy attorneys in Fairfax will help you avoid foreclosure, repossession, and protect your wages from getting garnished.

Get a fresh start

Whether you have lost your job, undergone a bitter and financially draining divorce, spent a lot of money on your medical needs, or having a large credit card debt, you might be confused about what you should do next.

With the help of our dedicated and caring Fairfax bankruptcy lawyers, you will be able to determine your financial situation and find the best option out.

Many people don’t think bankruptcy is an option to their financial woes, but it’s an excellent way to get a fresh start. It might appear complex and frightening at the start but with the guidance of experts, you will have an easy time going through it.

When you visit us, we will dedicate an attorney to your case who will evaluate your situation and help you decide the best form of bankruptcy you should go with. After thoroughly going through all the ramifications of the case, the lawyer will let you know the options that you should go with.

Chapter 7 bankruptcy

Chapter 7 bankruptcy is the fastest and most straightforward form of bankruptcy. This type involves the liquidation of eligible assets in order to pay off the creditors while at the same time protecting most of the debtor’ property. In most cases, the creditors aren’t paid in full from the proceeds of liquidation.

Our chapter 7 bankruptcy lawyers in Fairfax will help you find out whether you qualify for this form of bankruptcy and what will be the impact of applying for it. After weighing the pros and cons of it, the attorneys will go ahead and apply it for you.

For the attorney to determine that you qualify for the bankruptcy, you may have to undertake a means test. This is a test that compares your income against the state median. While chapter 7 bankruptcy is termed as straight bankruptcy, it’s often complex and best approached by an expert, experienced lawyer.

Working with Chapter 7 Bankruptcy Lawyer in Fairfax

It can be scaring when dealing with bankruptcy as there are plenty of decisions you have to make. The first step to sanity and peace of mind is to find a reputable bankruptcy law firm in Fairfax. Our firm will provide you with all the information and legal expertise you need to face your bankruptcy with ease.

When you hire our services, we will designate an expert chapter 7 bankruptcy lawyer Fairfax who handles only your case. This ensures that the process is fast and mistake free.

Frequently Asked Questions

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We are here for all your Bankruptcy Law needs. We serve throughout the Northern Virginia area.

Disclaimer: Mehnaz Khan, Esq. is a debt relief agency. We help clients file bankruptcy relief under the Bankruptcy Code. Although most of the information contained in this website is legal in nature, nothing herein shall be construed as a legal advice or establishment of an attorney client relationship.

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