What Documents do I Need in Order to File for Bankruptcy?

  • October 11, 2016

Filing for bankruptcy is never a simple decision you take lightly. If you’ve determined bankruptcy is the right choice for you, your next step is to gather all the necessary documentation and find out if you’re eligible for chapter 7 or chapter 13 bankruptcy.

Whether your bankruptcy involves liquidating your assets or creating a repayment plan, you’ll need to gather the same documentation. An attorney can help you with filing paperwork and determine what course is best for you. To make the most of your time, make sure you bring all necessary documentation with you.

Can I Still Buy a House After Filing for Bankruptcy?

  • June 6, 2016

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.

How Long Does It Take to Process a Bankruptcy?

  • May 23, 2016

Making the decision to file for bankruptcy is certainly difficult. Once you’ve decided to file, you must determine which chapter of bankruptcy is most appropriate for your situation. Each chapter of bankruptcy has a different time range for completion.

In general, Chapter 7 bankruptcies are processed the most quickly as they are a form of liquidation. Chapter 12 bankruptcy and Chapter 13 bankruptcy often take longer as they involve repayment plans.

Although you’re likely eager to have your case over and done with, you will have to wait for debts to be officially discharged. In this blog post, we’ll look at some of the most common forms of bankruptcy and their average completion times.

How to File for Bankruptcy in Virginia

  • May 4, 2016

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.

Which Kind of Bankruptcy Should You File?

  • April 18, 2016

Let’s face it. There’s a lot to know about bankruptcy. Whether you’re thinking of filing or have already made the decision to file, the sheer amount of information out there can be overwhelming to even the calmest individual.

Filing for the right form of bankruptcy is the first step to achieving a favorable outcome. Let’s go over the most common forms of bankruptcy as well as the advantages and disadvantages of each type.

Bankruptcy 101: Everything You Need to Know

  • April 4, 2016

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.

Frequently Asked Questions Regarding Bankruptcy

  • March 2, 2016

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…

How Will Bankruptcy Affect My Children?

  • February 17, 2016

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.

What Is the Difference Between Chapter 7, 11 and 13 Bankruptcy?

  • January 29, 2016

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.