SOLAN ALZAMORA, PLLC
Welcome to the bankruptcy practice website for Solan Alzamora, PLLC. We are a full service law firm with offices in Fairfax and Winchester, Virginia. Our bankruptcy practice includes representation of individuals and businesses filing for bankruptcy under Chapters 7, 11 or 13. For information on our other practice areas, please visit our main website located at www.SAlawfirm.com .
In our consultations we make every effort to work with clients to determine their goals and then to take steps to achieve those goals. We pride ourselves in our responsiveness to client inquiries. To make an appointment to speak with us regarding your issue, click here for our contact information.
We look forward to working with you.
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The Fundamentals of Bankruptcy
Bankruptcy is usually the last option for persons unable to pay their debts. The purpose of filing for bankruptcy is to allow the debtor a "fresh start" in which he or she may sell assets to pay debts or reorganize the debt structure itself. By filing for bankruptcy protection, the debtor is given relief in that collection efforts of all his or her creditors are postponed until a future date. The goal is to allow the debtor some "breathing room" so that he or she may make arrangements to sell assets to repay debts, restructure the payment of debts or return assets which are secured by debts. By halting collection efforts, creditors are not permitted to take advantage over the debtor's difficult situation.
Debt Relief Agency
Solan Alzamora, PLLC is a debt relief agency as defined by 11 U.S.C. § 528(a)(4). The firm assists persons filing for bankruptcy relief under the Bankruptcy Code.
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We provide full representation to individuals and businesses filing for bankruptcy protection under
Chapter 7, 11, or 13.
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Our Fees
The intial consultation is free. Click Here to schedule an appointment.
Flat fees are available. The amount of our fee depends on the individual case. At your initial consult we will discuss the facts of your case and from our conversation we will be able to provide you with the amount of our fee.
On some occasions, we will handle cases which involve more complex situations. These are generally cases with a significant number of assets or unusual issues. Complex cases are the exception and if your case falls into this category, it will be discussed at your initial consultation. If a case is considered complex, we will charge a higher rate.
We accept payment plans on a case by case basis. Most of our client's opt for a payment plan.
To schedule an appointment, click here to contact us for a free consultation.
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Types of Bankruptcy
For individuals, there are 3 primary methods of filing available:
Chapter 7. This form of bankruptcy filing is commonly referred to as liquidation. In general, when an individual files for bankruptcy under Chapter 7, a trustee will be appointed to take control of the debtor's assets, turn those assets into cash and distribute the cash among the debtor's creditors.
In recent years, filing for Chapter 7 has become signifcantly more difficult because those individuals wishing to qualify for this bankruptcy treatment are required to complete a "means test". This test measures a debtor's assets against what are allowable expenses. Allowable expenses are standardized expense amounts determined by factors such as the locality of the individual. Those persons who are unable to satisfy the means test must either seek an exception or file under another Chapter.
Chapter 13. This form of bankruptcy filing is referred to as a reorganization of debts for individuals. This form of bankruptcy is more common for wage earning individuals. By this we mean, if an individual has several assets he or she wishes to keep, a salary paying job, but is upside down on their house and deep in credit card debt, Chapter 13 may be the more appropriate option.
When a person declares bankruptcy under Chapter 13, they are required to come up with a plan of reorganization. The purpose of the plan is for the individual to provide information to the court of an amount that will be paid each month to satisfy the debts of unsecured creditors. The individual is generally given a period of 3 to 5 years in which payments will be made to a trustee. The trustee will take the payments and distribute them to the unsecured creditors of the individual.
Chapter 11. Primarily reserved for businesses, we are finding that more individuals are required to file under this Chapter as opposed to Chapter 13.
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