When a bankruptcy filing seems the best course of action, we work to meet the needs of both debtors and creditors, with professionals who can offer a depth of experience in every facet of the bankruptcy. Here are some of the ways we can help:
- Assessing business viability
- Developing and negotiating reorganization plans
- Bankruptcy reporting, preparation and analysis
- Monitoring of debtor’s operations and cash flow
- Negotiation/assessment of DIP financing,
- Cash collateral use and adequate protection
- Analysis of/developing support for court motions
- Designing key employee incentive programs
- Claims analysis
- Forensic expertise for avoidance actions
- Monitoring or managing asset sales/liquidations
- Expert witness testimony
Many times, people hear the word “bankruptcy” and think the worst. Oftentimes, we associate the term bankruptcy with hitting rock bottom. Financial problems can happen to any of us, but you should know that bankruptcy is actually a tool to improve your financial situation.
What Are Bankruptcy Requirements?
If you are facing overwhelming debt, you are not alone. Unplanned debt from home loans, car loans, credit cards, medical bills and other sources can quickly become unmanageable. Bankruptcy can allow you to eliminate your unwanted debt altogether or restructure it to make it manageable. When done successfully, bankruptcy can protect your home, car and other assets and even halt foreclosure entirely.
Three of the most common forms of bankruptcy are Chapter 7 Bankruptcy, Chapter 13 Bankruptcy and Chapter “20” Bankruptcy. In most cases, one of these free forms of bankruptcy can help improve your unique financial situation. Read more to learn about the different bankruptcy services we offer.
Chapter 7 Bankruptcy
Chapter 7 bankruptcy is available to certain individuals and call eliminate debt completely. The process can involve the liquidation of your process, but in many cases, your important assets can be protected. If you meet certain criteria, you can work with a chapter 7 bankruptcy attorney to set up a strategy to discharge unwanted debts. To learn more about the chapter 7 bankruptcy process, read:
Chapter 13 Bankruptcy
Another common form of bankruptcy is, Chapter 13 bankruptcy. Chapter 13 bankruptcy is a better option for some individuals than Chapter 7 bankruptcy. If you meet the requirements, chapter 13 bankruptcy allows you to maintain your property but, all debts, or part of your debts must be repaid over a period of 3-5 years. Restructuring your debt can relieve stress and pressure and improve your financial obligations. To learn more about chapter 13 bankruptcy, visit our page:
Lien stripping is a common tool used in Chapter 13 bankruptcy. Individuals who qualify for lien stripping may be able to get rid of (strip) payments on second and/or third mortgages entirely. Lien stripping can be very financially beneficial for individuals who qualify. To learn if lien stripping is right for you, visit:
Chapter “20” Bankruptcy
There are certain situations in which it may benefit an individual to utilize both chapter 7 & chapter 13 bankruptcy. This process is called, chapter “20” bankruptcy. Although it is not as common as chapter 7 and chapter 13 bankruptcy, it can have some real benefits. To learn more about the chapter “20” bankruptcy process, visit:
How we can help you
Financial problems involving outstanding debt can happen to anyone. You should know that there are ways to improve your financial situation. Utilizing chapter 7, 13 or “20” bankruptcy could be a great option for you if you are facing overwhelming debt.
The bankruptcy process can be complicated and in order to ensure the best possible results, it is best to work with an experienced bankruptcy attorney. Tucker, Nong and Associates offers the best and most affordable bankruptcy services in the Northern Virginia, Washington DC and Maryland areas. Call us to learn how pursuing Chapter 7, Chapter 13 or chapter “20” bankruptcy can improve your financial situation and even halt foreclosure.
**We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.