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Scully & Glass
- Bankruptcy Law
- Winchester, VA
About this business
Ensure your rights under the law are preserved with legal representation from Scully and Glass, LLC civil and corporate attorneys in Winchester, Virginia. Licensed in Virginia and West Virginia, our local law firm celebrates more than 40 years of service to the Shenandoah Valley. Our areas of practice range from bankruptcy, personal injury, and estate planning to corporate and real estate law. Contact us for trusted guidance and representation from experienced civil and corporate attorneys.
Location details
20 S Kent St, Winchester, VA, 22601, United States
Get directions| Weekday | Schedule | Status |
|---|---|---|
| Mon | 9:00 a.m. to 6:00 p.m. | |
| Tue | 9:00 a.m. to 6:00 p.m. | |
| Wed | 9:00 a.m. to 6:00 p.m. | |
| Thu | 9:00 a.m. to 6:00 p.m. | |
| Fri | 9:00 a.m. to 6:00 p.m. | |
| Sat | Closed | |
| Sun | Closed |
It’s beneficial if individuals filing bankruptcy can prove that they are attending bankruptcy or credit counseling, or have enrolled in a debt repayment plan. A bankruptcy lawyer can advise his or her client on details like this to make it easier when it comes to dealing with the courts.
Corporations and partnerships are legal entities that are separate from their owners. As such, they can file for Chapter 7 or Chapter 11 bankruptcies. Contacting an experienced lawyer can help you determine the right path to take with these difficult financial decisions.
Any friends or relatives who helped you get financing by cosigning a loan agreement will be protected from your debt if you file Chapter 13. However, if you file Chapter 7, they may be liable for any debts you don't pay.
Some people think that bankruptcy is only for people who mismanaged their money, but this is only a myth. The majority of people who file bankruptcy are financially responsible people who lost their jobs, get divorced, or have medical bills that they can’t pay.
What happens to the money in my savings account when I declare bankruptcy? Cash in your bank accounts will be seized by the bankruptcy trustee to be divided among your creditors. Money in 401Ks and retirement accounts are exempt from seizure.
Chapter 11 bankruptcy is a better option for businesses that may have a future. Your business has a chance to reorganize under a court-appointed trustee and continue. A reorganization plan is filed with the courts and creditors vote on it. If approved, businesses will have a chance to repay debts, sometimes in as many as 20 years.
Bankruptcy should be a last option for most people, but it is a salvation for many with no other alternatives. A bankruptcy discharge can remain on your credit report for as long as 10 years.
Do I have to qualify in order to file Chapter 7 or Chapter 13 bankruptcy? Since the 2005 bankruptcy law revisions, individual filers must meet income qualifications for a Chapter 7 filing. If your income is above the median income for the state, you may have to file for Chapter 13 instead.
The Bankrupts Act of 1825 saw England emerge as a world leader in regards to bankruptcy. Subsequent laws were enacted that governed debtor and creditor behavior. One law in particular declared that no commission grounded on the act of bankruptcy would be “deemed invalid by reason of such declaration having been concerted or agreed upon between the bankrupt and any creditor.”
Frequently asked questions about Scully & Glass
How is Scully & Glass rated?
Scully & Glass has a 4.1 star rating with 24 reviews.
When is Scully & Glass open?
Scully & Glass is open now. It will close at 6:00 p.m.
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