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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.
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.
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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