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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 Trustee"
In Virginia bankruptcy cases filed under Chapters 7 and 13, a trustee is appointed by the court to review legal compliance
for all documents filed by debtors, recommend the disposition of the case, and file a final accounting.
Trustees serve the U.S. Department of Justice, though the U.S. Trustee's Office, and are generally local
attorneys acting as Assistant US Trustees for Virginia bankruptcy proceedings. Trustees represent the interest of the
DOJ & U.S. Trustee.
| 11 U.S.C. §307: "The United States trustee may raise and may
appear and be heard on any issue in any case or proceeding under this title but may not file a plan pursuant
to section 1121(c) of this title"
11 U.S.C. §323: "(a) The trustee in a case under this title is the representative of the estate. (b) The
trustee in a case under this title has capacity to sue and be sued"
11 U.S.C. §330(a): "(1) After notice to the parties in interest and the United States Trustee and a
hearing, and subject to sections 326, 328, and 329, the court may award to a trustee, an examiner, a
professional person employed under section 327 or 1103 - (A) reasonable compensation for actual, necessary
services rendered by the trustee, examiner, professional person, or attorney and by any paraprofessional person
employed by any such person; and (B) reimbursement for actual, necessary expenses." |
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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