Whether to File for Chapter 13 Bankruptcy in Fairfax

Whether to File for Chapter 13 Bankruptcy in Fairfax

According to Fairfax bankruptcy lawyer Michael Sandler, filing a Chapter 13 bankruptcy is not for everyone. Sandler's practice, The Law Offices of Michael J. O. Sandler PLLC, works to help clients determine if Chapter 7 or Chapter 13 is right for them, or if they'd be better off not filing for bankruptcy at all. Here, Sandler explains who should file for Chapter 13 protection and who shouldn't.

When it comes to filing Chapter 13 bankruptcy, it is available to debtors with a particular income, and there are certain restrictions on the amount of debt that one is allowed to have. The limit here in the state of Virginia is currently $1.3 million. If you exceed that amount, then you will have to file Chapter 11 bankruptcy.

Propose a Feasible Plan

If you are going to file for Chapter 13, you should be able to propose a feasible plan. One month after you file your case and your plan, you will meet with the trustee of your case. The role of the trustee in a Chapter 13 case is to evaluate your repayment plan and decide if it is feasible.

The trustee will look at your income, with the supporting documentation provided, at your expenses listed, and at all of your debts to see if the plan makes sense and if you are paying off debts as required. If he thinks the plan is not feasible or disagrees with what you put down as your income or expenses, then he will file an objection with the court. You can then either file an amended plan to satisfy the trustee's objections, or you can have a judge decide on the issue.

Consult an Experienced Lawyer

Unfortunately, there are some people who file Chapter 13 cases over and over again to avoid foreclosures when they don't really have a plan to get caught up on their mortgages. And they don't have any feasible way to get a Chapter 13 plan approved. This can only be done once or twice before a judge will eventually sign an order forbidding a person from filing a bankruptcy case for a period of time, typically at least six months.

If you are not sure whether Chapter 7 or Chapter 13 is best for you, then the best thing to do is to ask an experienced lawyer for a consultation with all of your documentation. A good bankruptcy lawyer can evaluate your situation and plan out a reasonable course of action, which may or may not include the filing of a bankruptcy case.

At The Law Offices of Michael J. O. Sandler PLLC, we know that bankruptcy can often be embarrassing, which is why we're happy to help you get things started by scheduling a free at-home consultation, if you prefer. Yes, we make house-calls, and your first visit won't cost you a cent. We'll help you put together a Chapter 13 payment schedule that you can handle, work out your property exemptions, and take care of all of the paperwork involved. We will also stop harassing creditors from coming your way, acting like a bodyguard if collection agencies call or show up. Give us a call today!

This article is for informational purposes only. You should not rely on this article as a legal opinion on any specific facts or circumstances, and you should not act upon this information without seeking professional counsel. Publication of this article and your receipt of this article does not create an attorney-client relationship.

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