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Debt Management in Virginia Following Bankruptcy Proceedings

Our Charlottesville firm is committed to helping you remain debt free after bankruptcy

During Chapter 13 bankruptcy proceedings, you set up a budget that defines what you can pay toward living expenses and what you can pay to your creditors. You may need to follow this budget for a period of several months or even years until your debts are settled. As leading debt management lawyers in Virginia, the attorneys with the Miller Law Group, P.C. help you follow your budget and make adjustments for important life events such as marriage or loss of a job.

Chapter 13 bankruptcy plans

The goal of a Chapter 13 bankruptcy proceeding is to establish a plan by which you are able to repay the debts owed your creditors from your disposable income. Chapter 13 allows you to keep your property in exchange for repaying your creditors, at minimum, the value of your non-bankruptcy exempt property. The bankruptcy court must approve your plan based on the following information:

  • Value of all your property
  • Amount each creditor is to receive
  • Plan length
  • Payment frequency

The bankruptcy trustee and your creditors often request adjustments to the plan prior to the court’s approval.

Once a plan is approved, you are required to make payments to the bankruptcy trustee who uses these funds to pay your creditors on your behalf. The trustee is paid a commission based on the payment amounts until the plan is successfully completed and your debts are discharged. At the Miller Law Group, P.C., our attorneys have significant experience in bankruptcy law and debt consolidation in Virginia and can help you adjust a Chapter 13 plan when your circumstances change significantly.

What are my responsibilities under a Chapter 13 bankruptcy plan?

Under a Chapter 13 plan, certain creditors must receive total repayment while other creditors may receive a reduced amount or nothing at all. Typical Chapter 13 plans require the debtor to pay administrative claims and priority debts in full. Administrative claims include filing and attorney fees as well as the trustee’s commission. Priority debts include alimony and child support, tax debts, and employee salaries, among others. If you have a mortgage and wish to keep your house, you must also pay any mortgage defaults in full. With considerable experience serving clients in Albemarle County and surrounding counties, our bankruptcy attorneys fiercely pursue the best possible Chapter 13 plan to help you achieve permanent debt relief.

Contact us to discuss bankruptcy planning

At the Miller Law Group, P.C., we pursue the best possible Chapter 13 plan to help you achieve lasting debt relief while accounting for major life events. Our attorneys and professional staff work hard to protect what’s important to our clients: their assets and their families. Call us locally at 434-202-5293 or contact us online today for your FREE APPOINTMENT. Our law firm is located behind the Senior Center in Charlottesville and is handicapped-accessible. Parking is available outside the door.

Serving the communities of central Virginia, including Albemarle, Augusta, Buckingham, Charlottesville, Culpeper, Fluvanna, Greene, Louisa, Madison, Orange, Harrisonburg, Staunton and Waynesboro