how to file for bankruptcy in virginia without a lawyer

^{How to File Bankruptcy in Virginia for Free}

• Collect Your Virginia Bankruptcy Documents
• Take Credit Counseling
• Complete the Bankruptcy Forms
• Get Your Filing Fee
• Print Your Bankruptcy Forms
• Go to Court to File Your Forms
• Mail Documents to Your Trustee
• Take Bankruptcy Course 2
• Attend Your 341 Meeting
• Dealing with Your Car

What is Chapter 7 bankruptcy in Virginia?

What is Chapter 7 Bankruptcy in Virginia? Chapter 7 in the Bankruptcy Code refers to a legal process where debtors liquidate non-exempt properties to pay off creditors. In a Chapter 7 bankruptcy or liquidation case, the court appoints a bankruptcy trustee to oversee the sale of the debtor’s non-exempt properties.

How to file bankruptcy without a lawyer?

The Process

1. Determine Whether Your Income Meets the Means Test. When considering whether to file bankruptcy without a lawyer, the first step is to conduct a “ Means Test " to ...
2. Obtain Your Credit Reports and Complete Credit Counseling. The next step is to obtain credit reports from all three credit bureaus. ...
3. Fill Out the Paperwork. ...
4. Attend the Meeting of Creditors. ...

More items...

When to declare bankruptcy?

When to declare bankruptcy depends on the circumstances and the specific timing for a person [or a company]. If you think about the most common examples of companies filing, there is typically an event or a lawsuit that causes a company to file bankruptcy. One recent example is the many lawsuits brought against the Boy Scouts organization ...

How do you file bankruptcy in VA?

• Form 313 – Order Approving Disclosure Statement and Fixing Hearing on Confirmation and Times for Filing Objections to Confirmation and Acceptances and Rejections of Plan
• Form 420A - Notice of Motion (or Objection) [for Other than Alexandria]
• Form 420aalx - Notice of [Motion to] [Objection to] [for Alexandria]

More items...

How do I file for bankruptcy in Virginia without a lawyer?

Collect Your Virginia Bankruptcy Documents. ... Take a Credit Counseling Course. ... Complete the Bankruptcy Forms. ... Get Your Filing Fee. ... Print Your Bankruptcy Forms. ... File Your Forms With the Virginia Bankruptcy Court. ... Mail Documents to Your Trustee. ... Take a Debtor Education Course.More items...•

How much does it cost to file bankruptcy in the state of Virginia?

The cost for filing a Chapter 7 bankruptcy is $306. This fee may not be waived but you may be able to pay it in installments. The fee of $281 for a Chapter 13 bankruptcy cannot be waived.

How long does the bankruptcy process take in Virginia?

In many cases, you will pay back a portion of your unsecured debts in a payment plan. Here's what you need to know about filing Chapter 13 bankruptcy in Virginia. It's slow. It can take 3 or 5 years.

What happens when you declare bankruptcy in Virginia?

After Filing for Bankruptcy in Virginia You'll turn over financial documents proving the statements in your bankruptcy paperwork. You'll attend the 341 meeting of creditors—the one appearance all filers must attend. You'll complete a debtor education course and file the completion certificate.

What is the income limit for filing Chapter 7 in Virginia?

If your total monthly income over the course of the next 60 months is less than $7,475 then you pass the means test and you may file a Chapter 7 bankruptcy. If it is over $12,475 then you fail the means test and don't have the option of filing Chapter 7.

Is it better to file a Chapter 7 or 13?

Most people prefer Chapter 7 bankruptcy because, unlike Chapter 13 bankruptcy, it doesn't require you to repay a portion of your debt to creditors. In Chapter 13 bankruptcy, you must pay all of your disposable income—the amount remaining after allowed monthly expenses—to your creditors for three to five years.

How long does it take to rebuild credit after Chapter 7?

Take your time. The amount of time it takes to rebuild your credit after bankruptcy varies by borrower, but it can take from two months to two years for your score to improve. Because of this, it's important to build responsible credit habits and stick to them—even after your score has increased.

Can I keep my car if I file Chapter 7 in Virginia?

So in order to keep your vehicle, you must be able to protect the equity with a bankruptcy exemption. Virginia law allows up to $6,000 in motor vehicle equity. So if the $6,000 exemption covers all of your equity, the trustee—the person responsible for managing your case—cannot sell your vehicle.

Can I spend money after filing Chapter 7?

Frivolous spending after you file could put your case in jeopardy. Spending money willy-nilly after you file for bankruptcy could appear like fraud and upend your court ruling.

What is Virginia debt relief?

What is Virginia Debt Relief? Virginia debt relief is the relief of unsecured debt, like credit card debt and student loan debt. Pacific Debt offers its debt relief program in the form of debt settlement. The program is aimed at getting Virginia residents out of debt for substantially less than what they currently owe.

How much does it cost to file Chapter 13 in VA?

$313FeesItemFeeChapter 13 Petition$313Chapter 15$1738Adversary Proceeding$350Application for Removal$35036 more rows

What is the difference between Chapter 7 and Chapter 13?

With Chapter 7, those types of debts are wiped out with your filing's court approval, which can take a few months. Under Chapter 13, you need to continue making payments on those balances throughout your court-instructed repayment plan; afterwards, the unsecured debts may be discharged.

How does bankruptcy work in Virginia?

The bankruptcy process falls under federal law, not Virginia state law, and it works by unwinding the contracts between you and your creditors —that's what gives you a fresh start.

How long does it take for creditors to stop asking for money after filing for bankruptcy in Virginia?

After Filing for Bankruptcy in Virginia. Your creditors will stop bothering you soon after you file. It takes a few days because the court mails your creditors notice of the "automatic stay" order that prevents most creditors from continuing to ask you to pay them.

What meeting of creditors do you have to attend?

You'll attend the 341 meeting of creditors —the one appearance all filers must attend.

How many bankruptcy districts are there in Virginia?

Virginia has two bankruptcy districts—Eastern and Western. Each has multiple locations serving various geographical areas. Clicking on the district name will take you to the court's homepage. On each website, you can access the district's local rules and instructions for filing your paperwork.

How long do you have to do credit counseling before filing for bankruptcy?

Education providers. The bankruptcy trustee's website also lists approved counseling providers. (Individuals must complete credit counseling during the 180 days before filing for bankruptcy and a debt management course after filing the bankruptcy case.)

How long does it take for creditors to stop bothering you?

Your creditors will stop bothering you soon after you file. It takes a few days because the court mails your creditors notice of the "automatic stay" order that prevents most creditors from continuing to ask you to pay them. Here's what will happen next:

What chapter do you file in the book?

Most people file either Chapter 7 or Chapter 13. If you don't know the differences between the two, you're not alone. The short explanation below and our handy Chapter 7 versus 13 chart will help clear things up.

What happens to assets in Chapter 7 bankruptcy?

The trustee of the bankruptcy will liquidate the assets, such as cars, homes, and other property of value in a Chapter 7 Bankruptcy proceeding, In exchange for dissolving all past due debts.

How long can you keep assets in Chapter 13?

The individual will be allowed to retain his or her valuable assets over a 3- to 5-year period.

What happens if you don't list your debts in bankruptcy?

Debtors must list all property and debts in their bankruptcy schedules. If a debt is not listed, it is possible the debt will not be discharged.

Why are bankruptcy cases randomly audited?

Individual bankruptcy cases are randomly audited to determine the accuracy, truthfulness, and completeness of the information that the debtor is required to provide. Please be aware that bankruptcy fraud is a crime.

Can a corporation file for bankruptcy without an attorney?

Corporations and partnerships must have an attorney to file a bankruptcy case. Individuals, however, may represent themselves in bankruptcy court. While individuals can file a bankruptcy case without an attorney or "pro se," it is extremely difficult to do it successfully.

Can a petition preparer give legal advice?

Petition preparers are barred by law from providing legal advice - they cannot explain how to answer legal questions or assist in bankruptcy court. Petition preparers must sign all documents they prepare; print their name, address, and social security number on such documents; and furnish copies to the debtor.

How to help a bankruptcy lawyer?

The following is a list of ways your lawyer can help you with your case. Advise you on whether to file a bankruptcy petition. Advise you under which chapter to file. Advise you on whether your debts can be discharged. Advise you on whether or not you will be able to keep your home, car, or other property after you file.

What is a non-attorney petition preparer?

Non-attorney Petition Preparers. If you file bankruptcy pro se, you may be offered services by non-attorney petition preparers. By law, preparers can only enter information into forms. They are prohibited from providing legal advice, explaining answers to legal questions, or assisting you in bankruptcy court.

Is bankruptcy free to the public?

Bankruptcy Forms are available to the public free of charge.

Can you file bankruptcy under Chapter 7?

Filing personal bankruptcy under Chapter 7 or Chapter 13 takes careful preparation and understanding of legal issues. Misunderstandings of the law or making mistakes in the process can affect your rights. Court employees and bankruptcy judges are prohibited by law from offering legal advice.

What do you need to pay for bankruptcy?

In general, you need to at least pay a filing fee and the credit counseling and financial management course fees to finalize your bankruptcy petition. But if you have no money, you can ask for a fee waiver (in Chapter 7 cases) or ask the bankruptcy judge to roll the payment in your repayment plan (in Chapter 13 cases).

Why download bankruptcy forms?

Download the bankruptcy forms package to save the time and stress involved in tracking down the necessary materials. The packages are inexpensive and provide you with all the forms you need to file for Chapter 7 bankruptcy in your state.

What to do if you fail to report a debt?

You'll need all three reports because creditors don't typically report to every bureau. If you fail to report a debt, it won't be discharged in bankruptcy. Next, you'll have to complete a credit counseling and financial literacy course.

Do creditors have to be present at a meeting of creditors?

You'll have to attend your “ Meeting of Creditors " on the scheduled date. Although your creditors won't actually be present , the trustee will be and will ask you a number of standard questions about your case. Be sure to answer truthfully and accurately.

Do you have to fill out paperwork for bankruptcy?

Even though your case is relatively uncomplicated, a bankruptcy case requires you to fill out extensive paperwork and have a good knowledge of the Bankruptcy Code. Thus, it may be in your best interest to at least have an initial consultation with an attorney to make sure you are on the right course.

What happens if you file for foreclosure in Virginia?

This will stop any foreclosure proceedings. Upon filing, the court will assume legal control of your debts and any property not covered by your Virginia exemptions. A trustee will be appointed to your case by the court. The job of the trustee is to see that your creditors are paid as much as possible.

How much does it cost to file for bankruptcy?

The cost for filing a Chapter 7 bankruptcy is $306. This fee may not be waived but you may be able to pay it in installments. The fee of $281 for a Chapter 13 bankruptcy cannot be waived. If you are filing a Chapter 13 bankruptcy, a proposed repayment plan must also be submitted.

What are the requirements for a Chapter 7 bankruptcy repayment plan?

In addition to the general requirements listed above, the repayment plan must pass each of the following three tests: 1) It must be delivered in good faith. 2) Unsecured creditors must be paid at least as much as if a Chapter 7 bankruptcy had been filed.

What is automatic stay in bankruptcy?

Automatic Stay. Once you have filed your paperwork with the bankruptcy court, an automatic stay immediately goes into effect. This provision prevents creditors from making direct contact with you or staking a claim on any of your property from the day of filing forward. This will stop any foreclosure proceedings.

How long does a trustee have to challenge a debtor?

Trustees and creditors have 60 days to challenge the debtor’s right to a discharge.

How long do you have to pay into a Chapter 13?

3) All disposable income must be paid into the plan for at least three years (you may use up to five years in order to meet the second test that you pay at least as much as in a Chapter 7). If you have filed Chapter 13, you must begin making your plan payments.

When does a trustee call creditors?

Approximately a month after filing, the trustee will call a first meeting of creditors, which the debtor must attend. This proceeding is also referred to as the § 341 meeting, named after the corresponding section of the bankruptcy code.

How much does it cost to file for bankruptcy in Virginia?

An attorney will usually charge between $800 and $1,500 for a straightforward Chapter 7 case. Most attorneys will charge more for a Chapter 13 case. A complex Chapter 13 case will likely run you more than $5,000.

What is Chapter 7 bankruptcy?

Chapter 7 bankruptcies are also known as “liquidation" bankruptcies because you must turn over all of the property not protected by an exemption to a bankruptcy trustee. The bankruptcy trustee will then sell the property and use the proceeds to repay your creditors.

Why do people go bankrupt?

It is actually intended to help people who have more debt than they can pay off by protecting them from creditors and bill collectors while they sort out their financial affairs. You may need to give up some of your property/assets during the bankruptcy process, but when you exit bankruptcy you should be free from most of your debt and ready to get on with your life.

How much is the homestead exemption in Virginia?

Previously, you could exempt up to $5,000 of your equity in real estate or personal property ($10,000 if you are over 65), plus $500 for each dependent. The new legislation kept those provisions in place but added a new $25,000 principal residence exemption.

How long does it take to repay a secured debt in Chapter 13?

In Chapter 13 bankruptcy you create a plan to repay your secured creditors over three to five years. The court must approve the plan and creditors may be forced to reduce or restructure your debt. Mortgage payments are not included in the plan, so you need to continue making those payments to your lender outside of bankruptcy.

How long does it take to pay off Chapter 13?

Chapter 13 bankruptcy lets people who have a steady income reorganize most of their debt and pay it off over three to five years under a court-approved plan that may also eliminate some of your debt. Chapter 13 is popular with homeowners because they can often keep their homes.

How much of your weekly income can you keep in Virginia?

Virginia allows you to exempt the larger of 75% of your weekly earnings or 40 times the federal minimum wage. The judge may allow low-income individuals to keep more of their income.