Loudoun Bankruptcy Attorney

At Ashley F. Morgan Law, PC we understand that you are going through a difficult time and are mindful of both your emotional and legal needs. Our goal is to help you overcome your financial and/or legal difficulties as quickly as possible. When looking for a Loudoun County Bankruptcy Attorney, our firm can help! Our bankruptcy attorneys in Northern Virginia always treat you and your family with the respect and compassion that you deserve.

As a leading bankruptcy law firm in Northern Virginia, we regularly help our clients get out from under the burden of debt. Our office is conveniently located in Herndon, VA, which allows easy access for our Loudoun County bankruptcy clients. Due to our close proximity, we get many clients who reside in Sterling, Ashburn, South Riding, and the rest of the county. We understand the financial struggles in Loudoun County are different from the rest of the country. As of 2012, Loudoun County had a median household income of $117,876. Since 2008, the county has been ranked first in the U.S. in median household income for areas with a high population (65,000 or more).

For many clients, even if you are making a decent income, the expenses in Loudoun County can be overwhelming. Filing bankruptcy can sometimes help relieve some of the financial struggles. To qualify for Chapter 7, the court will look at your income for the last 6 months. If the debtor’s income is less than or equal to the state median, they can file for Chapter 7.  This can mean it is more difficult for individuals to qualify for a Chapter 7. However, there is another way to qualify for Chapter 7 that involves using your income and subtracting out allowable expenses; this process is called the Means Test.  Luckily, if your income is above the state median, we are able to take in consideration the allowable expenses for your county under Internal Revenue Service guidelines. If you have above median income, finding an experienced bankruptcy attorney can make the difference in whether you qualify for Chapter 7 or not. If you do not qualify for Chapter 13, the Means Test will also dictate the amount of a payment you may have in Chapter 13.

Bankruptcy is a federal process, which means you file in a federal court. Most people file in the jurisdiction where you reside; if you live in Loudoun County, VA, you will usually file in the Alexandria Division of the Eastern District of Virginia. There are other ways to determine where you can file, such as where your largest asset is located; however, it is usually easiest to file in the jurisdiction you reside. Most of our bankruptcy clients never go the the bankruptcy courthouse; most cases only have one mandatory appearance at the Meeting of Creditors (or 341 hearing). In Alexandria, this hearing is in an office building in Old Town Alexandria. It that meeting you will meet with the case trustee about your petition, debts, and assets. This is usually a hearing that takes three to five minutes for your questions.

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