Virginia Bankruptcy Legal Questions

I will assume that you and your ex both signed the promissory note (financing) for the car, and that both of you are on the title.  If this is true, you will receive a notice from the bankruptcy court when he files.  If the car is surrendered to the bank or repossessed (because payments were not made), your credit will take a hit.  Also, if there is a deficiency (there is still a balance due on the note after the car is sold at auction and the proceeds are applied toward the balance due), you could face a lawsuit from the bank for the difference.  If you did not sign the promissory note, your credit will not be affected.... Read More

The short answer to your inquiry is NO.  When you file bankruptcy, you must list ALL debts and ALL property you own.  You can not focus solley upon one specific obligation.  That said, you need to look at your entire financial situation, including your income, the property you own, and whether you own the property wilth someone else, before filng for bankruptcy.  you should consult with a local bankruptcy attorney to determine if a bankruptcy filing is the right course of action for you.  ... Read More

You should contact your attorney.  If your case is alraedy filed, in most cases, a debtor should not purchase any property, including a vehicle, until the trustee has reviewed the case and issued a Notice of No Assets in the case.  In most cases, debtors will not be able to bet financing from a lender until they have their discharge.   If you have not filed yet, you definitely need to speak with your attorney before puchasing.  Purchase of a new vehicle could cause a delay in when you are able to file by up to 6 months. ... Read More

Your eviction judgment for money owed will be included in your Chapter 7 bankruptcy along with all of the other debts that you owe. Unfortunately, some corporate landlords refuse to rent to potential tenants who recently filed Chapter 7. In addition, the fact that you were sued for eviction (as opposed to the fact you owe money on the judgment) may still appear on tenant screening reports. It will take some time and an understanding landlord, but you should be able to find a place to rent. Be up front about the situation and ask prospective landlords if they will rent to someone who has a Chapter 7 and eviction on their record before you pay an application fee. Many times you may be allowed to rent, but with a larger security deposit than someone with a better credit history. You should also take prompt steps to rebuild your credit after receiving your discharge. Please consult with an experienced consumer bankruptcy attorney for the specifics of your situation. Many offer free consultations. Good luck!   This is general advice only. I am not licensed in the Commonwealth of Virginia.... Read More

Unless you've got cash or significant income to satisfy this debt, the consolidation would not be right for you. I've been practicing bankruptcy law for over 22 years and have yet to hear about one or two people who have been successful with debt consolidation. Generally speaking, my opinion would be to avoid the debt consolidation company. You should meet with a skilled bankruptcy attorney to help you navigate this financial situation that you find yourself in. Good luck!... Read More

That depends on the value of of your house, and what exemptions are available under applicable state law in your case.  If you have resided in Virginia for at least the last 2.5 years, then that would be Virginia's.  Virginia seems to have a $10,000 exemption for equity in a homestead.  $20,000 if you are over 65 years old.  Thus, if your house is worth more than that, it could be sold by the Trustee in a Chapter 7 case. You need to have a consultation with a bankruptcy attorney in your area to analyze your options and determine the costs and benefits of each.  ... Read More

Most of the time in a Virginia bankruptcy you can keep your house and car.  If there is no equity in the car or house, then there should not be a problem.  Even there is equity, you may be able to protect it using the exemptions allowed by Virginia.  Even if you cannot exempt the equity, you may still be able to keep the car or house by filing a chapter 13.  In a chapter 13, you keep all of your property, but must go on a payment plan for some or all of your debts, depending on the circumstances.  I hope I answered your question.  If you are unsure, I would recommend scheduling a free initial consultation with a bankruptcy attorney.                                                                                                      ... Read More

Fees for bankruptcy can vary widely depending on attorney, circumstances, and type of bankruptcy.  The Court fees for a chapter 7 are $335 and a chapter 13 is $310.  For a simple chapter 7, you should expect to pay $1,500 to $2,500 in Northern Virginia.  For a 13, you should expect to pay $5,000, but many attorneys will accept less up front and allow you to incorporate most, or all, of their fees into your bankruptcy repayment plan.  The most important thing is that your attorney is qualified, and that you are comfortable with him or her.  With a good attorney, the process can be fairly painless.  Also, most bankruptcy attorneys offer a free initial consultation.  Good luck.... Read More

Retaining a lawyer is almost always a good investment. If your wife received a discharge in her Ch. 7 case from two years ago, she is not eligible for a discharge in a case filed within 8 years of the filing of the earlier case. You would be eligible for a discharge, however, if you have not filed previously. So the Court is probably using 'withheld' to say that the discharge was not denied as such, merely that it is not granted. You could of course call the office of the Clerk of the Bankruptcy Court ask them what they mean.... Read More

If you can file bankruptcy, you should.  Reason why the constitution has a clause allowing bankruptcy is that please country, from its inception, wanted to allow people a fresh start if they were overwhelmed with debt.    The question is if your income and assets will be protected from creditors in the bankruptcy. You do not give me the information so I cannot comment.  I suggest to meet with a tourney in your area and hopefully confirm that you can file bankruptcy.    Good luck    ... Read More

The answer to this question is very complex.  In certain circumstances there may be no benefit in filing bankruptcy on behalf of a corporation because the corporation cannot receive a discharge of its debts.  Additionally, filing bankruptcy for the corporation may not relieve a co-debtor or guarantor of having to pay a debt.  You should contact a bankruptcy attorney to discuss the specifics of your case and make sure that you understand your obligations when winding down the business and how to disburse the corporation’s assets to avoid potential liability.... Read More

When you file bankruptcy, you must include all of your assets and all of your debts.  You cannot pick and choose which assets or debts you include in your bankruptcy petition.  The cost depends on whether you file a Chapter 7 or Chapter 13 bankruptcy petition.  Most bankruptcy cases are charged on a flat fee basis.  The fee will vary based upon how complicated the case.  Cases can be filed on relative short notice depending on how quickly you can provide your attorney with all of the necessary information to prepare the petition and schedules.... Read More

Unfortunately, your question cannot be answered without additional information. The answer depends, in part, on whether your ex-husband is filing a Chapter 7 or Chapter 13. Additionally, the language of the property settlement agreement is also very important. The question really turns on whether the obligation that you have described is determined to be a domestic support obligation. In the bankruptcy context, the term “domestic support obligation” means a debt that accrues before the date the bankruptcy is filed that is (A) owed to or recoverable by a former spouse; (B) in the nature of alimony, maintenance, or support of the former spouse; or (C) established before the date the bankruptcy is filed by reason of applicable provisions of (i) a separation agreement, divorce decree, or property settlement agreement; or (ii) a court order. Section 523(a)(5) and (15) of the Bankruptcy Code precludes domestic support obligations and certain obligations created in a property settlement agreement or divorce decree from being discharged in a Chapter 7. On the other hand, debts created by a property settlement agreement or divorce decree that are not in the nature of support, can be discharged in Chapter 13. The Chapter 13 plan and the amount of the other unsecured debt will determine the amount of the obligation paid to the former spouse. You want to make sure that you retain a bankruptcy attorney to monitor your ex-husband's bankruptcy case and take appropriate action is necessary.... Read More

If your financial situation changes and you are not able to continue the payments, this should not impact your ability to obtain a discharge of your debts in bankruptcy.  If a judgment is entered against you, the judgment creditor will be entitled to file post judgment collection proceedings such as garnishments and debtor's interrogatories.  It is generally more favorable to file bankruptcy prior to a judgment being entered against you so that you aviod collection proceedings and the judgment lien.  However, the entry of a judgment will not preclude you from filing bankruptcy.... Read More

Yes, it is true you can file bankruptcy and represent yourself and do not legally need an attorney to do so, but with that being said it is not a smart choice to make. When you represent yourself pro se in any legal matter, you are expected to act and follow all the same rules as an attorney. With the judge in your case is attempting to tell you is, attempting to discharge your student loans in bankruptcy is a very technical procedure with exact criteria that need to be followed. Basically it would be a waste of time for you if you cannot analyze your situation yourself and determine if your situation actually falls within the criteria which allows a person to discharge all or part of their student loan debt. Just the drafting of the motion needed to be filed to you can be heard in court is a difficult motion to draft and should be done by an experienced bankruptcy attorney. The vast majority of bankruptcy attorneys do not even know how to file your student loans on bankruptcy and get them discharged, which it makes it even more important that you seek the help of an experienced bankruptcy attorney, not the cheapest one you find online. I have responded to your inquiry according to the laws of Massachusetts, where my firm is located. Laws can vary significantly from state to state and cases tend to be rather fact-specific, so you are best served by consulting with a knowledgeable attorney in weighing your options. Email messages/Online Correspondence are akin to conversations and do not reflect the level of analysis applied to formal legal opinions. Email/Online responses do not form an attorney-client relationship.    Joseph F. Botelho, Esq. BOTELHO LAW GROUP Attorneys At Law http://massachusettslawyeronline.com/ 901 Eastern Ave.  Unit 2 Fall River, MA 02723  Office:  888-269-0688 FAX:    877-475-8147 #bankruptcy  #lawyer  #FallRiver  #Chapter7  #chapter13  #debt  #debtsettlement  #foreclosure  #attorney   #cantpaybills  #lawsuit  #court  #bankruptcycourt  #eviction  #lostmyjob, #student, #loans, #education, #IRS, #taxes... Read More

Yes, you may file bankruptcy even if you're in a debt program. What you're calling a debt program, is simply a company that takes money from you every month and saves it until they have enough to negotiate a settlement with the money they are collected from you. It is important for everyone to know these debt programs, always pay themselves 100% of the money they're going to take first and then you start to see your savings growing in their bank account. Save yourself the money and aggravation, simply put that amount of money aside every month and you will be able to settle the debt yourself as long as you don't mind talking to credit card companies. These companies don't have any special powers or control over banks, all the gunk to do is offer them a lump sum of the money they've collected from you to settle your debt. I have responded to your inquiry according to the laws of Massachusetts, where my firm is located. Laws can vary significantly from state to state and cases tend to be rather fact-specific, so you are best served by consulting with a knowledgeable attorney in weighing your options. Email messages/Online Correspondence are akin to conversations and do not reflect the level of analysis applied to formal legal opinions. Email/Online responses do not form an attorney-client relationship.    Joseph F. Botelho, Esq. BOTELHO LAW GROUP Attorneys At Law http://fallriverbankruptcyattorney.com/ 901 Eastern Ave.  Unit 2 Fall River, MA 02723  Office:  888-269-0688 FAX:    877-475-8147 #bankruptcy  #lawyer  #FallRiver  #Chapter7  #chapter13  #debt  #debtsettlement  #foreclosure  #attorney   #cantpaybills  #lawsuit  #court  #bankruptcycourt  #eviction  #lostmyjob, #student, #loans, #education, #IRS, #taxes... Read More

The general rule is that one spouse does not inherit the debts of a deceased spouse.  If the living spouse has signed as the responsible party, then that debt belongs to the living spouse, but being married to someone usually does not automatically make the surviving spouse responsible for a medical debt with one exception:  Virginia Code section 8.01-220.2 makes spouses responsible to pay for the emergency medical care provided to the other spouse.... Read More

Like many legal answers, this depends on a number of factors.  First and foremost, are the car payments being made?  If not, the lender is going to end up keeping the car!  You will be relieved from responsibility for making the car payments, whereas the lender would still be able to go after your cosigner for any unpaid balance left after the car is sold.  Assuming the car payments are being made, ownership of the car would be determined by who has the title to the vehicle.  If the vehicle is titled in your name only, your cosigner has no legal right to it.  If it's titled in both of your names then it's a matter of state contract law between the two of you who gets possession of the car--and most judges would probably award possession of the car to the party who has actually made the payments.... Read More