When you're filing for bankruptcy, it is critical to understand your legal rights. Bankruptcy laws protect consumers from financial ruin and the potential to be abused by creditors. By allowing consumers to have their qualifying debts eliminated, bankruptcy offers all Americans a second chance at controlling their debt.

As skilled Arlington Virginia Bankruptcy Lawyers, we have helped hundreds of clients reorganize and eliminate debt, saving homes, cars and wages from overly aggressive creditors. We are highly qualified and have the know-how complex new bankruptcy laws demand.

We can advise you of all your legal options and help you decide if bankruptcy is the best choice for you. We provide solid legal guidance to clients in Fairfax County, Arlington County and throughout Northern Virginia in the following areas:

• New Bankruptcy Laws
• Chapter 13: Consumers
• Chapter 7: Consumers and Businesses
• Chapter 11: Consumers and Businesses
• Foreclosures
• Credit Counseling
• Debt Consolidation
• Petitions
• Adversary Proceedings
  

Bankruptcy law is a unique type of law based on forgiveness rather than punishment. As of October 17, 2005, the Bankruptcy Abuse Prevention and Consumer Protection Act took effect, enforcing tougher restrictions on consumers trying to file under Chapter 7 bankruptcy. As respected Arlington Virginia Bankruptcy Lawyers, we have the necessary expertise to determine the qualifications you must meet in order to file for bankruptcy.

Cooch & Lapham was formed in 2003 in Fairfax, Virginia. The Firm was founded on a desire to provide high-quality legal services to our clients. We do this by our knowledge and experience, as well as our responsiveness to client needs and requests.

Our Firm is made up of five attorneys, each of whom has extensive experience in and out of court on a myriad of legal issues. Our bankruptcy practice focuses on the needs of consumers considering filing for protection under either Chapter 7, 11 or 13 of the bankruptcy code.

Our philosophy is service excellence. From the moment a client walks through our doors, they are treated as a valued customer regardless of their issue. We serve our clients through both our high-quality legal services and responsiveness to client needs.

We view the practice of law as a service business. Many people who seek our services do so because they are facing difficulty in their lives. We try to ease this stress as much as possible by being candid with the client regarding their issue, working with clients throughout the life of their case so that they understand the ramifications of decisions they must make, and by maintaining constant communication with clients so they are aware of information as we receive it. 

Our initial bankruptcy consultation with the client is designed to gain an understanding of the client’s current situation, their desired outcome and to answer any questions. When a client comes into the office, we do not automatically assume that they will file for bankruptcy. We believe that it is necessary to examine all possible solutions before making the decision to file for bankruptcy protection. Through our discussions with potential clients we will assess their situation and provide a recommendation on the best course of action. 

Once we begin working with a client, we follow a policy of constant communication. All notices, correspondence and other communication is forwarded to clients promptly. We are available by phone and email whether we are in or out of the office. It is the policy of our Firm that phone calls be returned within one business day.

If you or someone you know needs the assistance of an experienced Arlington Virginia Bankruptcy Lawyer, call Cooch & Lapham, PLLC today at 866-685-9485, or complete the contact form provided on this site to schedule your free consultation.

Practice Areas and Legal Definitions

Every year, more than 1,000,000 Americans file for protection under Federal bankruptcy laws. Although some bankruptcy claimants are deemed as credit abusers and/or considered financially irresponsible, many hardworking individuals and businesses can succumb to financial difficulty, and face irreperable economic crisis. Bankruptcy is designed as a legal option to help resolve such a crisis, and act as a financial life preserver for those drowning in debt. To discuss your bankruptcy options, or other areas of recourse that might be available to you, contact a qualified bankruptcy attorney who can advise you of your legal rights as stated under Bankruptcy Law and federal Bankruptcy courts.

New Bankruptcy Laws:
Bankruptcy is a federal court process designed to help individuals and businesses eliminate their debts or repay them under the protection of the bankruptcy court. Bankruptcies can generally be described as liquidation or reorganization. Under a liquidation bankruptcy (Chapter 7), a claimant files to eliminate debt through the bankruptcy court. Under a reorganization bankruptcy (Chapter 13), a claimant files a plan with the bankruptcy court proposing how to repay creditors.

As of October 17, 2005, the requirements under which a debtor may file Chapter 7 bankruptcy changed with the passage of the Bankruptcy Abuse Prevention and Consumer Protection Act.  Debtors are now required to seek budget and credit counseling within six months of filing, financial “testing” is required to determine the debtor’s capacity for debt repayment, Chapter 7 cannot be filed if the household income is greater than the median household income as deemed by the state, and state exemptions cannot be applied unless the debtor has resided at current residence for over two years.

Due to the imposed requirements for Chapter 7 bankruptcy as set forth by the new laws, debtors who were eligible to file under Chapter 7 will now have to file under Chapter 13 bankruptcy instead, in which individuals and creditors agree to a court-imposed plan that requires some or all debts be repaid over five years, with an appointed trustee assigned to monitor the repayment process. Bankruptcy filings will continue to be recorded on an individual’s credit report for seven years in the case of Chapter 13, and up to ten years for Chapter 7.

Chapter 7:
Chapter 7 cases are commonly referred to as straight bankruptcy or liquidation cases, and may be filed by an individual, corporation, or a partnership. A Chapter 7 bankruptcy case does not involve the filing of a plan of repayment as in Chapter 13. Instead, the bankruptcy trustee gathers and sells the debtor's nonexempt assets and uses the proceeds of such assets to pay holders of claims (creditors) in accordance with the provisions of the Bankruptcy Code. Part of the debtor's property may be subject to liens and mortgages that pledge the property to other creditors. In addition, the Bankruptcy Code will allow the debtor to keep certain "exempt" property; but a trustee will liquidate the debtor's remaining assets. Accordingly, potential debtors should realize that the filing of a petition under Chapter 7 may result in the loss of property.

Chapter 13:
A Chapter 13 bankruptcy is also called a wage earner's plan. It enables individuals with regular income to develop a plan to repay all or part of their debts. Under this chapter, debtors propose a repayment plan to make installments to creditors over three to five years. Chapter 13 permits individuals to keep their property by repaying creditors out of their future income.  It is not available to corporations or partnerships. After completion of payments under the plan, Chapter 13 debtors receive a discharge of most debts.

Foreclosure:
Foreclosure is the legal proceeding in which a bank or other secured creditor sells or repossesses a parcel of real property (immovable property) due to the owner's failure to comply with an agreement between the lender and borrower called a "mortgage" or "deed of trust". Commonly, the violation of the mortgage is a default in payment of a promissory note, secured by a lien on the property. When the process is complete, it is typically said that "the lender has foreclosed its mortgage or lien".

A Foreclosure by Sale ends in the posting of a sign advertising the auction of your home on the sale date. The only ways to stop a foreclosure are full payment of the arrearage, or the filing of a Chapter 13 bankruptcy. Full Payment: If you are able to obtain and tender the full amount of your arrearage, including fees and costs, you can stop the foreclosure of a standard residential mortgage. Most people lack the money to make full payment. This process stops the foreclosure and allows you to repay your arrearage over a three-to-five year period. The arrearage is paid through a court-appointed official, while you resume your regular monthly payments to the bank in order to keep your home. A Chapter 13 can be filed at any time prior to the law day or sale date, and it is often the only avenue to save your home.

Bankruptcy Fraud:
Bankruptcy fraud is a business crime of filing for bankruptcy with criminal intent, that is with the intention of evading payment for goods even though the buyer has funds that could be used to pay for them, or accepting payment for goods or services but not supplying them. Common types of bankruptcy fraud include petition mills, false oath, concealment of assets, and fraudulent conveyance. Multiple filings are not per se fraudulent; as with all things in the law, it depends on the circumstances. Bankruptcy fraud should be distinguished from strategic bankruptcy, which is not a criminal act (but may prejudice a judge against the filer if there is evidence that bankruptcy is being used strategically).

Debt Consolidation:
Contrary to popular belief, debt consolidation is not a loan. Debt consolidation is a process in which debt is restructured into one low monthly payment. It further enables a consumer to reduce the amount owed and thereby eliminate interest. Very often a consumer can detect warning signs of being in too much debt long before any collection notices are received. If more than two of the following signs apply to you, you are probably in too much debt:

• You have begun charging to your credit card essential expenses like food and daily expenditures
• You are making only the minimum payments on your credit cards each month
• You are near the limit of your credit cards
• You have too many credit cards
• You are unsure how much money you owe creditors

Chapter 11:
Chapter 11 is typically used for business bankruptcies and restructuring. It is not commonly used by individual consumers since it is far more complex and expensive to pursue. It allows businesses to reorganize themselves, giving them an opportunity to restructure debt and get out from under certain burdensome leases and contracts. Typically a business is allowed to continue to operate while it is in Chapter 11, although it does so under the supervision of the Bankruptcy Court and its appointees.

If you or someone you know needs the assistance of an experienced Arlington Virginia Bankruptcy Lawyer, call Cooch & Lapham, PLLC today at 866-685-9485, or complete the contact form provided on this site to schedule your free consultation.

If you or someone you know needs the assistance of an experienced Arlington Virginia Bankruptcy Lawyer, call Cooch & Lapham, PLLC today at 866-685-9485, or complete the contact form provided on this site to schedule your free consultation.

ADDRESS OF THE FIRM:
Cooch & Lapham, PLLC
3998 Fair Ridge Drive, Suite 150
Fairfax, VA 22030
Telephone: 866-685-9485
Fax: 703-359-1428

MEMBERS OF THE FIRM:

Anthony E. Cooch, Jr.
Anthony Cooch is a native of Alexandria, Virginia. He earned a B.B.A. in Accounting with a concentration in Information Systems from James Madison University and was licensed as a Certified Public Accountant in 1995. After spending several years working in the private sector, he returned to school and earned a J.D. from George Mason University School of Law.

Tony is currently licensed to practice law in Virginia. He is a member of the National Association of Consumer Bankruptcy Attorneys, the American Bar Association and the Fairfax Bar Association. In addition, he serves as a Firefighter/EMT with the Stonewall Jackson Volunteer Fire and Rescue Department in Manassas, Virginia.


Christian M. Lapham
Christian Lapham is a native of Arlington, Virginia, although he was born in Woomera, Australia and spent six years living in Germany. He earned his Bachelor of Arts from the University of Virginia, majoring in German and Foreign Affairs. He then earned his J.D. from George Mason University School of Law.

Christian is currently licensed to practice law in the Commonwealth of Virginia. He has appeared on numerous occasions before the Circuit and General District Court of Fairfax County, Arlington County, and the City of Alexandria, as well as a member of other jurisdictions in the Northern Virginia area. He is a member of the American Bar Association, the Fairfax Bar Association, the Civil Litigation Section of the Virginia Bar Association, and the Fairfax Bar Young Lawyer’s Committee.


Jennifer L. Springer
Jennifer Springer is licensed to practice law in the Commonwealth of Virginia, and is an active member of the Virginia State Bar, American Bar Association and Fairfax County Bar Association. Jennifer has worked for Cooch & Lapham, PLLC, for approximately two years as both a law clerk and an attorney. She received her juris doctor degree from George Mason University School of Law in 2005.

While attending the School of Law, Jennifer was a member of the Honor Council, Phi Delta Phi, and American Inn of Court, and participated in mock oral argument competitions. She received her undergraduate degree in applied mathematics, with a minor in sociology, from the University of North Carolina at Asheville. She was active in numerous academic, social and volunteer organizations, including the social fraternity, Alpha Xi Delta. Jennifer was raised in Asheville, North Carolina, which is located in the western part of the state amongst the Appalachian Mountains, since she was a young child.


Shannon M. Guignon
Shannon Guignon was born in Fairfax County though shortly thereafter he spent most of his youth growing up overseas as part of a military family. Returning to Northern Virginia for college Shannon received his undergraduate degree from George Mason University. Afterwards Shannon went to George Mason University School of Law where he received his law degree magna cum laude. While attending law school at George Mason he was a member of the George Mason Civil Rights Law Journal and was awarded a law school fellowship for academic excellence.

In his spare time Shannon is an avid sports fan especially for the St. Louis Cardinals and Washington Redskins. He is also a ferocious reader of books, his favorites include One Day in the Life of Ivan Denisovich, Catch-22, and To Kill a Mockingbird. Shannon is admitted to practice in all Virginia Courts. He is a member of the National Association of Consumer Bankruptcy Attorneys, the Virginia Bar Association, the Fairfax Bar Association and the Virginia State Bar.


Nicholas J. Solan
Nicholas Solan is a native of the greater Pittsburgh area. He received his undergraduate degree in systems engineering from the University of Virginia, where he was also an active children's basketball coach and tutor. Afterwards, he graduated cum laude from George Mason University School of Law, where he was a member of the Civil Rights Law Journal and a participant in the George Mason Domestic Relations Clinic, where he assisted low-income persons in obtaining divorces.

Nick is a member of the American Bar Association, Fairfax Bar Association, and the Family Law section of the Virginia Bar Association. In his free time, Nick tutors at the Childhelp Children's Center of Virginia in Fairfax.