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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 Dismissal"
In practice, most dismissal are without prejudice to future relief, restructure, reorganization or discharge.
Nevertheless, once dismissed, debtors may not refile for a period of 180 days.
| 11 U.S.C. §349(a): "Unless the court, for cause, orders otherwise,
the dismissal of a case under this title does not bar the discharge, in a later case under this title, of
debts that were dischargeable in the case dismissed; nor does the dismissal of a case under this title
prejudice the debtor with regard to the filing of a subsequent petition under this title, except as provided
in section 109(g) of this title." |
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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