Spencer Ault on Bankruptcy

Bankruptcy can be a difficult time for any individual or family. Spencer Ault has two decades of experience helping clients in bankruptcy procedures. Watch the video to hear him discuss bankruptcy, what it means for those who need to file, and what options exist.

The Law Office of Spencer Ault is available to see new bankruptcy clients now. Let us apply our experience and skill to help you escape from unmanageable debt and make a fresh start financially.

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Bankruptcy Attorney in Loudoun County

Looking for professional bankruptcy help in Loudoun?

The Law Office of Spencer D. Ault is committed to providing capable and caring bankruptcy legal services to individuals, businesses and organizations in the greater Washington D.C. area. With more than 25 years of experience, we have the knowledge and understanding to provide competent legal counsel that focuses on your needs, desires and goals as they relate to your case.

When an individual or organization is unable to repay debts to creditors, it may be necessary to file for bankruptcy. Bankruptcy is a federal procedure to legally eliminate, reduce or modify debts. This may be done either by liquidating non-exempt assets, or by developing a plan to resolve debts. The Law Office of Spencer Ault is experienced in Chapters 7, 11, 12 and 13, and has represented both individuals and businesses in the bankruptcy process.

Video Transcript:

Part: 1 2 3 4 5 6 7

There are actually four different types of bankruptcy. There's Chapter 7, what's called Liquidation, which is the most typical form of bankruptcy. There's also Chapters 11, 12 and 13 - those provide repayment plans. Chapter 11 is primarily for businesses who are trying to restructure, but stay in business. Chapter 12 is for family farmers who are relying upon a harvest to repay debts. Chapter 13 is someone who has regular monthly income, who has sufficient funds not only to pay their monthly expenses but some amount leftover to pay towards their debts. Maybe not as much as the creditors want, but what the person can afford.

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Loudoun County Local News

Loudoun Daily-Monitor
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