"Virginia Bankruptcy Discharge"
A "discharge in Virginia bankruptcy cases is available in all chapters. In Ch. 7 cases, discharge requires no
repayment on unsecured, non-priority debts. In Ch. 11 and 13 cases, a plan of reorganization must propose full
or partial repayment and be approved by the court.
| 11 U.S.C. §1328 provides, in part, "As soon as practicable after completion by the debtor
of all payments under the plan, unless the court approves a written waiver of discharge executed by the debtor
after the order for relief under this chapter, the court shall grant the debtor a discharge of all debts provided
for by the plan or disallowed under section 502 of this title, except any debt - " |
On March 5, 2004 the Virginia Bankruptcy Courts adopted newly adjusted dollar amounts which apply throughout
the Code. The changes became effective April1, 2004. The adjusted amounts affect the values throughout carious
Code sections, including the eligibility requirement for debtors who file Chapter 13, the value of claims which
the Code treats as a priority claim, the amount of creditor claims need to instigate an involuntary petition,
and the amount of luxury goods and services which may be considered nondischargeable if acquired within 30 days
of filing. These changes to Virginia bankruptcy law were based on the Consumer Price Index published by the US
Dept. of Labor, and increase values to reflect rising prices. These changes became mandatory every three years
beginning in 1994.
Back to Virginia Bankruptcy Court words & phrases.
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