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Questions Answered by Juan E. Milanes, Esq.

1 Answer | Asked in Bankruptcy for Virginia on

Q: i was just wondering if a company files for chapter 11 will they still pay you

Juan E. Milanes, Esq. answered on Jul 7, 2015

It depends. The company will require that you file a Proof of Claim with the Court in the proper format. The company will then proffer to the Court and/or certain creditors a Plan of repayment or reorganization. You may be a priority creditor that they desire to pay; you may be an unsecured... Read more »

2 Answers | Asked in Bankruptcy for Virginia on

Q: When filing bankruptcy in VA, can I keep a house I am still paying mortgage on?

I have another 15 years of payments on a 30 year mortgage. The house is valued at $150,000.

Juan E. Milanes, Esq. answered on Jul 7, 2015

Yes. You can keep the home; however, depending upon the amount of equity, how you hold title and a number of other factors, you will need to determine whether Chapter 7 or 13 is right for you. If there is a fair amount of equity, Chapter 7 may not be a good option. If there is a lot of equity... Read more »

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