Avoid Mistakes When Planning and Filing Virginia Bankruptcy Cases

The best-planned bankruptcy cases go unnoticed. A few debtors glide through the system without attracting attention and receive full discharges in record time. Luck is not involved, but rather each successful debtor begins planning strategically a few weeks or months in advance. These debtors know something that you don’t.

Free - 2010 Bankruptcy Strategies Explained

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Virginia Bankruptcy Alternatives - Loans & Mortgages

The sites below were reviewed for content which is relevant to the Virginia bankruptcy issues appearing within this site. For more information regarding our selection of sites, please see our review policy. We welcome all sites submitted for review and respond to all requests within 3 business days.

Loan and Mortgage Resources:

1. Loan and Mortgage Resources - refresh.

Recent Notable Opinions from Virginia Bankruptcy Courts

In re Meloy, Case No. 98-31268-T before the Virginia Bankruptcy Court for the Eastern District, Richmond Division, decided August 14th, 2000. The debtors originally filed a petition under Chapter 11. During reorganization, the debtors reaffirmed a debt owed to the defendant bank. Thereafter, the debtors failed to make timely payments as required by the reaffirmation agreement. The bank foreclosed upon RE securing the note and sought reimbursement for the deficiency balance. In response to the bank's attempt to collect the deficiency balance, the debtors then converted their case to Chapter 7 before the Virginia Bankruptcy Court.. All objections in connection with the Chapter 7 case were resolved and debtors received a discharge. Issue before the Virginia Bankruptcy court: Is the bank entitled to recover the deficiency balance following discharge? HELD: in this case, yes, the Virginia Bankruptcy court determined the bank may recover because the reaffirmation agreement was not specifically rescinded in the time allowed by statute. 11 USC 524 provides, in part, "(c) An agreement between a holder of a claim and the debtor, the consideration for which, in whole or in part, is based on a debt that is dischargeable in a case under this title is enforceable only to any extent enforceable under applicable nonbankruptcy law, whether or not discharge of such debt is waived, only if . . . (4) the debtor has not rescinded such [reaffirmation] agreement at any time prior to discharge or within sixty days after such agreement is filed with the court, whichever occurs later, by giving notice of rescission to the holder of such claim." In this case, the Virginia Bankruptcy court determined the debtor's  failure to provide proof of notice of recession excluded the debt from the discharge injunction.

Recent Notable Opinions of the Supreme Court of The United States:

Archer v. Warner, Docket Number: 01-1418 IN THE SUPREME COURT OF THE UNITED STATES ON PETITION FOR WRIT OF CERTIORARI, Argued January 13, 2007, Decided March 31, 2007. Leonard and Arlene Warner sold the Warner Manufacturing Company to Elliott and Carol Archer. Later, the Archers sued the Warners for fraud related to the sale. This suit was settled. According to the settlement agreement, the Archers released the Warners of all liability except for a $100,000 promissory note. After the suit  was voluntarily dismissed, the Warners defaulted on the first payment due on the note. The Archers then sued the Warners for collection in state court, and in turn, the Warners filed Chapter 7. The Archers objected to the discharge of their note. The Code states a debt shall not be dischargeable "to the extent it is for money obtained by false pretenses, a false representation, or actual fraud." This motion was denied and discharge of liability for payment of the note was granted. The District Court and Court of Appeals affirmed. Held: In a 7-2 opinion, the Court concluded "the Archers' settlement agreement and release of liability may have worked a kind of novation, but that fact does not bar the Archers from showing that the settlement debt arose out of 'false pretences, a false representation, or actual fraud,' and consequently is nondischargeable." If a release of liability is obtained by fraud, the release within the agreement is voidable.

The resources we recommend pertain in some way to Virginia Bankruptcy cases, whether laws, rules of evidence, rules of procedure, confirmation, discharge, reorganization, or one of many other topics . Large bodies of law pertain to Virginia Bankruptcy proceedings must be honored by the courts. As new Virginia Bankruptcy laws are established each year, the scope of this website will continue to expand.