Counseling Clients Through Difficult Financial Times
At Clark & Allen, P.C., our attorneys counsel individuals and companies through all aspects of the business cycle, in times of prosperity as well as difficulty. With two locations in Leesburg and McLean, Virginia, we are focused on helping our clients resolve financial problems and achieve stability again.
We advise both creditors and debtors as to their rights under law, and assist them in determining the best strategy to pursue those rights. We advise and represent consumers and businesses in the various alternatives to bankruptcy, such as loan modifications and debt settlement agreements, and guide companies through the process of corporate dissolution when necessary.
In addition, we assist consumers and businesses with choosing the right course of action to take in obtaining a fresh start through bankruptcy. This may include filing for Chapter 7 or Chapter 13 bankruptcy.
Types of Bankruptcy
The different types of bankruptcy are generally referred to by the chapter of the U.S. Bankruptcy Code under which they are described. Two of the more common are Chapter 7 and Chapter 13:
- Chapter 7 bankruptcy involves the liquidation or sale of the debtor's assets, with the proceeds being used to pay the debtor's creditors. The debtor will only be able to keep certain exempt assets and may "re-promise" to pay certain debts, like car loans, so as to keep the car.
- Chapter 13 bankruptcyallows an individual who has regular income to put together a plan to repay all or a part of their debts over a three to five year period. This type of bankruptcy works best for individuals and businesses with the means to repay some debt, but not all of it.
What to Expect from the Bankruptcy Lawyers at Clark & Allen, P.C.
In our free initial consultation, the attorneys at Clark & Allen, P.C., will help you review your financial situation to determine if bankruptcy is the right choice for you. We can also help you examine bankruptcy avoidance alternatives and answer your bankruptcy questions. If bankruptcy appears to be an alternative, we will also discuss which bankruptcy process is best for your situation, and explain what the process involves, as well as what life after bankruptcy may look like.
We generally handle individual bankruptcy matters on a fixed-fee basis. At all times we will strive to be as efficient as possible with legal fees and expenses.
Contact us by calling 877-589-6616 to schedule a free initial consultation at our Leesburg or McLean, Virginia, location. You may also complete our online contact form.
