TBR Law

Our homes are some of the most important places in our lives; they’re our spaces to just be and create memories with our families. After filing for bankruptcy, you may feel at a loss and wonder if you’ll ever be able to purchase a home through a loan again.

Rest assured, there are ways to purchase a new home in the future. It takes time to get back on your feet, but you can certainly do it. Take heed of the following advice when planning to buy a home after bankruptcy.

We’ve all heard of bankruptcy before and maybe you’re considering filing soon. But do you know how to file in the first place? Bankruptcy law isn’t common knowledge, and the process can be confusing. We’ve put together a guide on filing for bankruptcy in Virginia to assist you during this time.

The Means Test

The means test is used to determine if you are eligible to file for Chapter 7 bankruptcy. Under this test, the court analyzes your income for the 6 months prior to your filing. compared to the median income in the state of Virginia. If your income is determined to be under the median income, you are eligible for Chapter 7. In the case that your income is above the median income, the courts will take a look at your expenses and debt to see if you still qualify. If not, you may file for Chapter 13.

If there’s one thing they don’t teach you in school, it’s how to manage your finances. For a lot of us, it takes trial and error to determine the best way to handle our money. Unfortunately, sometimes life gets in the way, and debts grow beyond what we can realistically pay off. In these cases, bankruptcy can be an effective way to discharge some debts, pay back the rest, and get back on your feet.

However, there’s a lot to know about bankruptcy and how to reach the most favorable outcome. In this blog post, you’ll find everything you ever wanted to know about bankruptcy but were too afraid to ask.

Filing for bankruptcy is a difficult decision and one that you’ll want to make wisely. You likely have plenty of questions regarding the process, filing procedures and potential outcome. To put your mind at ease, we’ve gathered and answered the…

When you decide to file for bankruptcy, you likely have more things on your mind than your financial future alone. You’re considering the future of your family and of course, your children. How will filing for bankruptcy affect them? Are there any adverse effects I should be aware of?

We’ll answer these pertinent questions and more in our blog post below.

When you have trouble paying your bills, deciding to file for bankruptcy can be the first of many steps on your path to a better future financially. Next, you must determine what type of bankruptcy to file based on your situation, debts and plans for the future.

The most common types of bankruptcy are Chapters 7, 11 and 13. Knowing the difference between these 3 chapters is a lot like reading a textbook. It takes some time to digest all the information and learn the facts.

To save you the time and frustration of muddling through tons of information online, we’ve created this blog post as an easy reference to understand the definitions of each chapter of bankruptcy.