Is Chapter 7 bankruptcy an option for me in DC? Though Washington, D.C. is a rich area as a whole, of course that wealth does not flow to everyone, and some must file bankruptcy. Most people file a Chapter 7 liquidation bankruptcy under Title 11 of the U.S. Code rather than a Chapter 13 reorganization. If you file for Chapter 7, you must take a “means test” to determine whether or not your income is below the median level in the District of Columbia. Given your income, debt, and other factors, the court will determine whether repaying your debts under a Chapter 13 reorganization is possible. The bankruptcy trustee can “liquidate” your non-exempt property in a Chapter 7 bankruptcy; in other words, they can sell it to help pay your debts. Therefore, if you do proceed to file a Chapter 7 bankruptcy, it is important that you know what property is qualified for an exemption and is therefore safe from the trustee. The federal bankruptcy code lists types of property that are exempt, and to what amount. Any amounts listed apply to your equity in the property rather than its total value. However, the District of Columbia, along with the states, was given the option of creating its own exemption list. Some states insist that you use the state list, and some states give you the option of choosing between the state or the federal list. Washington, D.C. gives bankruptcy filers a choice. Cost to file chapter 7 in D.C. The chapter 7 filing fees in [STATE] are $338, but that doesn’t tell the whole story of the real cost to file bankruptcy. Bankruptcy lawyers usually charge between $1,000 and $2,000 to file a chapter 7 case, in addition to the filing fee. Where is my bankruptcy court located? Filing bankruptcy is a big step, and it is often accompanied by a great deal of confusion and stress. If you are even considering filing bankruptcy, talk with a good D.C. bankruptcy attorney. The earlier you consult with an attorney, the more options you will have. You may even be able to avoid bankruptcy. However, if you do file, be sure to get an experienced attorney who can protect as many of your assets as possible. The District of Columbia has one bankruptcy court location at 333 Constitution Ave. NW, Room 1225, Washington D.C. 20001, Phone: (202) 354-3280. FacebookPinTweetEmail National Bankruptcy Forum Help us match you with a local attorney Free Bankruptcy Evaluation "*" indicates required fields First Name* Last Name* Phone* Email* Δ Leave a Reply Cancel replyYour email address will not be published. Required fields are marked *Comment * Name * Email * Save my name, email, and website in this browser for the next time I comment. Δ
Is Chapter 7 bankruptcy an option for me in DC? Though Washington, D.C. is a rich area as a whole, of course that wealth does not flow to everyone, and some must file bankruptcy. Most people file a Chapter 7 liquidation bankruptcy under Title 11 of the U.S. Code rather than a Chapter 13 reorganization. If you file for Chapter 7, you must take a “means test” to determine whether or not your income is below the median level in the District of Columbia. Given your income, debt, and other factors, the court will determine whether repaying your debts under a Chapter 13 reorganization is possible. The bankruptcy trustee can “liquidate” your non-exempt property in a Chapter 7 bankruptcy; in other words, they can sell it to help pay your debts. Therefore, if you do proceed to file a Chapter 7 bankruptcy, it is important that you know what property is qualified for an exemption and is therefore safe from the trustee. The federal bankruptcy code lists types of property that are exempt, and to what amount. Any amounts listed apply to your equity in the property rather than its total value. However, the District of Columbia, along with the states, was given the option of creating its own exemption list. Some states insist that you use the state list, and some states give you the option of choosing between the state or the federal list. Washington, D.C. gives bankruptcy filers a choice. Cost to file chapter 7 in D.C. The chapter 7 filing fees in [STATE] are $338, but that doesn’t tell the whole story of the real cost to file bankruptcy. Bankruptcy lawyers usually charge between $1,000 and $2,000 to file a chapter 7 case, in addition to the filing fee. Where is my bankruptcy court located? Filing bankruptcy is a big step, and it is often accompanied by a great deal of confusion and stress. If you are even considering filing bankruptcy, talk with a good D.C. bankruptcy attorney. The earlier you consult with an attorney, the more options you will have. You may even be able to avoid bankruptcy. However, if you do file, be sure to get an experienced attorney who can protect as many of your assets as possible. The District of Columbia has one bankruptcy court location at 333 Constitution Ave. NW, Room 1225, Washington D.C. 20001, Phone: (202) 354-3280.