what are the bankrupcy laws in the state of Virginia?

Question

looking to file bankrupcy and can not do a consolidation so how do i go about file for personnel bankrupcy and what is the cost to file? also is there a certian amount of debt you have to owe in order to qualify?

Answer 1

The answer above was partially correct.

A bankruptcy is a federal proceeding, and as such is filed in the US Bankruptcy Court for your state. Which precise court you will file in will generally depend on your county of residence.

Under the bankruptcy reform instituted at the best of credit card companies in 2005, the process of filing bankruptcy is not much more complicated than it used to be, and the process of deciding which chapter and how much property is exempt is also much more complicated.

For instance, the laws of Virginia regulate which your real and personal property are exempt from the bankruptcy, and in what amounts. There are also filing restrictions based on income, and additional requirements that you MUST do both before and after you file the bankruptcy.

The filing fee for a bankruptcy is $299 currently. This fee is adjusted from time to time. There are options which allow you to pay the fee in installments, but I don't recommend this: if the fee is not timely paid, the bankruptcy can be dismissed and then you have to start over.

I urge you to retain an attorney who is experienced in bankruptcy law for this matter. I can't speculate on the fees they would charge. In my area of the country, $1,500 is the most common charge, not including the filing fee. For a referral to an attorney, contact your local or state bar association.

Answer 2

It's all federal, the state has nothing really to do with it. You go in Va. to a federal district court, Richmond, Norfolk, Roanoke, Fairfax area. No real qualifying debt. The attorneys fees vary and most want their money up front before they can file, you fill out and answer all the questions and they can file it in minutes via email. Chapter 7, is full discharge, now you must take a credit course prior to being dismissed. The attorney fees average around $1000. You can file it yourself with the proper papers or use of a legal aide.