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Our attorneys represent banks and other creditors in connection with bankruptcy matters. We are familiar with all types of relief available in the bankruptcy code including, but not limited to, liquidation and debt adjustment. We carefully review remedies and strategies available to creditors including preparing and filing proof of claims, examining debtors, challenging discharge, objecting to disclosure statements, pursuing cash collateral, moving for relief from stay, or other petitions. We are fully familiar with the implications of the Fair Debt Collection Practices Act and the Domestic Relations Claim as they relate to bankruptcy and are careful to advise our clients of confirmation issues and strategies. We uphold the highest ethical standards for creditors and bankruptcy clients. Our attorneys are also involved in representing individuals, companies and partnerships in filing bankruptcy petitions which include pre-bankruptcy planning and “work out” considerations. If your bills have spiraled out of control, and creditors are constantly calling you, we can review your financial situation to determine whether it would be best for you to seek the protection of the bankruptcy laws. While bankruptcy is not recommended or appropriate for everyone, it can provide a fresh start for families and individuals who are currently unable to meet their financial obligations. Our attorneys can meet with you to explain your options and perhaps work with your creditors to find the less drastic solutions.  We can assist with any chapter filings, including Chapter 7, 11 or 13, and regularly represent borrowers, lenders and debtor in all sorts of debt restructures.We are familiar with all types of relief available in the bankruptcy code.

Debt Management & Negotiations

Whether you own a small business rebounding from the downturn in the economy or you are recovering from being unemployed, bankruptcy may not be your only option.

Our attorneys can help you:

  • Understand your income and expenses
  • Recognize which expenses are impacting your ability to pay debts
  • Identify solutions to lesson problem areas and corresponding debts
  • Negotiate directly with creditors to reduce debt to exchange for lump sum payments or long-term payment plans

We have successfully resolved cases in United States District Courts, as well as various State courts in Virginia, through negotiated lump sum payments or long-term repayment plans in disputes ranging from a few thousand dollars to hundreds of thousand dollars.

Our thorough knowledge of post-judgment collection practices allows our attorneys the advantage of using these collection efforts to help facilitate negotiations with creditors.  Our attorneys will develop a sound strategy to help you reach your desired goals.

Planning & Filing Bankruptcy

Our attorneys will assist in the selection of the appropriate bankruptcy chapter, help you identify and protect assets and utilize exemptions to maximize the benefit and outcome of your case.

Bankruptcy cases are traditionally identified by the chapters that describe them.

Chapter 7 is a liquidation of the non-exempt assets of the debtor’s estate, which is supervised by the bankruptcy court. A Trustee is appointed by the bankruptcy court to:

  • Take possession of any non-exempt assets of the debtor’s estate,
  • Reduce the non-exempt assets to cash, and
  • Make distributions to creditors.

This liquidation process is subject to the debtor’s right to retain certain exempt property and the rights of secured creditors.  In most Chapter 7 cases, there is little or no nonexempt property and there is no actual liquidation of the debtor’s assets.

Chapter 13 is designed for an individual debtor who has a regular source of income and valuable assets, which the debtor desires to retain.

A Chapter 13 allows a debtor to:

  • Keep assets; and
  • Repay creditors over time.

Debtors who do not qualify for Chapter 7 relief as a result of the means test, must pay all of their disposable income into the Chapter 13 plan (typically five (5) years).

The debtor must complete the payments required under the plan before receiving a discharge. However, during the plan a debtor is protected from all collection efforts and other creditor actions.

Chapter 11, is a reorganization of debts by a corporation or individual who desires to continue operating a business and repay creditors concurrently through a court-approved plan of reorganization.

A Chapter 11 requires the debtor to:

  • File a plan of reorganization; and
  • Must provide creditors with a disclosure statement containing information adequate to enable creditors to evaluate the plan.

The court ultimately confirms or denies confirmation of the plan of reorganization.

The purpose of a Chapter 11, is to allow the debtor to go through a period of consolidation and emerge with a reduced debt load and a reorganized business.

Our attorneys will work with you to identify and evaluate the benefits of each chapter to determine which is the most beneficial to you given your current financial situation.

Bankruptcy Litigation

Our attorneys are well versed in the bankruptcy litigation practice whether it is prosecuting or defending complaints to determine dischargeability, challenging the discharge debts or handling other adversary complaints.

In some cases, the filing of the bankruptcy petition can result in additional litigation to determine whether a debtor’s bankruptcy case should be dismissed without a discharge or whether a specific creditor’s debt should be determined to be non-dischargeable. If successful, both of these types of cases can have far reaching implications for the debtors involved. Recognizing the facts required to successfully prosecute a complaint to determine dischargeability or defending against such a complaint is complicated. As litigation attorneys, we have both a wealth of trial experience and have prosecuted and defended such actions in the bankruptcy context.

Bankruptcy cases also spin off other types of litigation. Our attorneys are well versed in defending fraudulent transfer and preference actions. A fraudulent transfer is the transfer of an asset made by a debtor in an attempt to avoid a creditor’s collection efforts. A preference action is initiated by a trustee of a bankruptcy estate or a debtor in possession and is brought in an effort to recover payments made by the debtor to a creditor prior to the filing of the bankruptcy petition. In certain instances, payments made to creditors for antecedent debts within 90 days of filing bankruptcy are considered preferences. If the creditor is also an insider, the relevant preferential period extends to one year. If the amount of the preferential payment received by the creditor exceeds the amount a creditor would have received in a liquidation of the debtor’s bankruptcy estate, the creditor may have to disgorge the amount of the preferential payment for the benefit of all of the debtor’s creditors.

Our attorneys also have experience modifying and stripping liens in both Chapter 7 and 13 cases which require the filing of adversary complaints in some instances. Being experienced bankruptcy litigators allows our attorneys to handle the simple cases as well as those that are multifaceted.

Creditors Rights

Our attorneys can protect your rights as a creditor in a bankruptcy case by obtaining relief from the automatic stay, filing a proof of claim or monitoring bankruptcy cases for creditors seeking distribution from a bankruptcy estate.

The threat of bankruptcy is regularly used as leverage during negotiations with creditors. We can evaluate the legitimacy of those bankruptcy threats to provide you with an ability to calculate the likelihood of filing and the practical outcome if there is a bankruptcy filing. Having the ability to effectively refute the perceived threat of bankruptcy will certainly strengthen your position in negotiations.

Understanding your rights as a creditor once a bankruptcy has been filed can be overwhelming. Our attorneys can guide creditors through the bankruptcy proceedings whether as a secured or unsecured creditor. Evaluating the appropriate steps in protecting your rights as a creditor in a bankruptcy case must be conducted simultaneously with an analysis of the cost. With the ever present threat of a discharge of your claims, a creditor must be weary of spending resources which will not result in a positive return. A comprehensive understanding of the bankruptcy practice allows us to provide you with quality representation for a fraction of the costs of larger firms.

Our attorneys can simplify and explain the complex bankruptcy litigation practice whether you need someone to:

  • Obtain a cash collateral order;
  • Object to plan confirmation;
  • Obtain relief from the automatic stay;
  • Defend fraudulent conveyance and preference actions; or
  • File a proof of claim.

Our goal is to maximize the value of your dollar while effectively protecting your rights.

Contact Allred, Bacon, Halfhill & Young, PC For More Information

In an effort to support the best interests of our clients, we offer competitive fees. Call 703-352-1300 or contact our firm to learn more about how our Fairfax business law lawyers will personally tailor our services to your needs.

Debt Relief Agency
The attorneys at Allred, Bacon, Halfhill & Young, PC, provide bankruptcy services to consumers and federal law requires that they be identified as a Debt Relief Agency. Our attorneys help people file bankruptcy in Virginia under the United States Bankruptcy Code.

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Our Attorneys
  • "Jim was recommended by a business partner. Jim’s expertise and experience was quite obvious from a client perspective. However, what was most impressive was the distinct impression of personal and business integrity. Simply put: Top Shelf Experience."

  • "Jim is not only a most professional attorney both in the court but also in other legal matter representation. His warm personality helps in client communication. His demeanor is always reflecting a calm, kind manor. It is so reassuring to me knowing that I have Jim as my attorney."

  • "Jim Bacon is a 10 out of a 10 and that goes for everyone that works at the firm. I know they have my back and allow me to run my businesses. Personally, I have recommended Jim and the firm to many of my friends and they all thank me and feel the same. There is no one or no firm that comes close to providing legal services. I feel sorry for any other lawyer that has to go up against Jim!!"

  • "I am extremely pleased with this law office! I needed to do a will and Lucy Boerum was amazing. She was patient and kind, yet very knowledgeable. I had to make a lot of difficult decisions, but Lucy made it easy for me. She was always available to simplify a concept and explain a definition. It took me time to make my decisions, and this office never pressured me to hurry up. Life is busy and I had to delay several times, but Lucy’s attitude was always comforting and understanding. Thanks to her, I finally finished my will and can sleep better at night. This is a very efficient, low key, nice office to work with. I can’t say enough good things about them. They are all intelligent and kind."

  • "I can’t say enough good things about the services I received while working with this firm. They not only got me through the legal process but took a personal interest in making sure they did everything they could on my behalf. That is something you don’t find every day in working with a legal firm. I highly recommend their services. Helpful, knowledgeable, and top notch!"

  • "An extremely capable and professional firm. Truly exemplary. Mr. Warner Young is an excellent attorney and Ms. Lucy Boerum is very efficient and competently handled all the office affairs. Very approachable and gracious in their dealings too. I strongly recommend their services and wish them all the very best."

  • "I am extremely happy with services I received from this law firm. I have used several attorneys within this firm on various legal matters. They are always professional and more importantly they listen to your legal matter before offering an opinion. I have finally found a law firm where personal connections and legal services are equally important to the firm. Both are attributes that make this firm stand out from their peers. I would definitely refer this firm to my friends."

  • "Mr. Stephen Halfhill, Esquire and the other professionals at ABHY handled both my divorce case and my custody agreement. The divorce was very straight forward, but the custody case was very difficult for me and Mr. Halfhill and his associates were able to successfully get a fair custody agreement in place that was fair to everyone especially my son. The billing was fair and all of the attorney fees definitely paid off for me and my son. I highly recommend this firm for family law and the other law practices done in their office."

  • "I have had the pleasure of working with Allred, Bacon, Halfhill & Young for more than 7 years, mostly in the area of elder care. Attorney Warner Young and Paralegal Lucy Boerum have provided superb legal advice and outstanding client service. Their performance has exceeded my high expectations. They have been professional, responsive, communicative, thorough, patient, persistent, and pleasant in all of my dealings with them. I would highly recommend this firm."

  • "We are always treated respectfully, no matter the issue. Their advice is always “spot-on” and we have relied on their help and counsel many times."

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