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John F. Roberts, Esquire Jeanne E. Hovenden, Esquire
Serving all of the Greater Richmond, Virginia, Metropolitan and Tri-cities Area, and Surrounding Counties 7459 Old Hickory Drive Mechanicsville, Virginia 23111 (804) 746-4000 Richmond Area (800) 388-8298 Outside of Richmond Area (804) 746-4146 Facsimile |
The Bankruptcy Process
Who May File For Bankruptcy?
Almost any person who has a residence, business or property in the United States is eligible to be a debtor under the Bankruptcy Code. Individuals, sole proprietorships, partnerships, corporations and family farmers are eligible for bankruptcy relief. In rare cases, creditors may force someone into bankruptcy by filing an “involuntary petition” against a debtor.
Generally, there are no minimum financial or solvency requirements for the filing of a bankruptcy case by the debtor. Certain debt restrictions or financial requirements apply in Chapter 12 or 13 bankruptcy cases.