Sterling, Virginia, is a center of business and technology in the outer reaches of the Washington, DC, area. The community has grown out of a series of farms along Route 7, developing into an unincorporated town of almost 28,000 people. The 1950s saw a boom in growth with the construction of nearby Dulles International Airport. Much of the old farmland has become parks and green spaces. Sterling now hosts headquarters and branch offices for many large companies. The nearby Dulles Technology Corridor is a major center for technology business and development. Sterling also hosts several major facilities for the National Weather Service.
In today’s challenging economic climate, however, anyone, even those who live and work in Sterling’s offices and businesses,can experience financial troubles. Residents and businesses in Sterling who find themselves under financial stress and unable to pay their debts may wish to consider bankruptcy. To many, the bankruptcy process can be frightening and disruptive. A common concern involves what will become of your property once the bankruptcy is underway. A Sterling bankruptcy attorney with knowledge of the system can guide you through the process and safeguard your rights.
You have the right to exempt certain property in a bankruptcy proceeding. The U.S. Congress sets most of the bankruptcy laws, but individual states may establish rules regarding property that may be excluded. Virginia has set rules on exemption of property to protect you in this situation.
Real estate declared as your homestead is exempt up to a certain dollar amount. A specific amount of personal property is also exempt, which may include a car, furniture, clothing, heirlooms, and jewelry. A portion of your wages and property needed for your job may be exempted. Some financial assets like life insurance, retirement accounts, or workers’ compensation may be protected. Your attorney must be thoroughly familiar with bankruptcy in Virginia. Your Sterling bankruptcy attorney will work with you to assess your property and look for the greatest exemption possible under the law.
The Law Office of Edward Gonzalez, P.C. is located at 8201 Greensboro Drive, Suite 300, McLean, Virginia 22102. From Sterling, head south on State Route 28 for about 2 miles. Take the exit for the Dulles Toll Road (Highway 267) heading east towards Washington, and follow the toll road for about ten miles. Take the exit for Highway 684 S/Spring Hill Road and turn right onto Highway 684. After 0.8 miles, turn right on Greensboro Drive. The office will be on your left.
Sterling bankruptcy lawyer Edward Gonzalez has more than 20 years of legal experience which helps account for his success representing the citizens and businesses of Virginia in all sorts of financial matters. Contact the firm today for a free and confidential consultation about your financial future.