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

Ask a Bankruptcy Lawyer for Help – Expand Your Options Quickly

If you are thinking about filing Chapter 7 or Chapter 13 bankruptcy, you are not alone. Complete the form below to contact a sponsoring bankruptcy lawyer. Ask all questions you deem important without cost or obligation of any kind. Free help is only a few minutes away.

Need a Lawyer? LegalMatch allows you to present your case, and respond only to lawyers who want to help you. It's Free & Confidential.

Virginia Bankruptcy Laws - Personal Property

The Code of VA allows the following items of personal property to be exempt: Bible - 34-26(1), Burial plot - 34-26(3), Clothing to $1000 - 34-26(4), Family portraits and heirlooms to $5000 total - 34-26(4), Health aids - 34-26(2), Household furnishings to $5000 - 34-26(6), motor vehicle to $2000 - 34-26(4)(a), Personal injury causes of action - 34-26(8), Personal injury recoveries - 34-28.1, Pets - 34-28.1, Wedding and engagement rings - 34-26(5).

Operation of Virginia bankruptcy laws with the Code

Pursuant to 11 U.S.C. 522(a)(2), "value'' means the fair market value as of the date of the filing of the petition or, with respect to property that becomes property of the estate after filing, the date property becomes property of the estate. Also, 11 U.S.C. 522(e) - non-enforceability of waivers - provides a waiver of an exemption executed in favor of a creditor that holds an unsecured claim against the debtor is unenforceable in a case under this title with respect to such claim against property that the debtor may exempt . . . and a waiver by the debtor of a power . . . to avoid a transfer . . . of exempt property . . . or to recover property or to preserve a transfer, is unenforceable in a case under this title.

Back to Virginia Bankruptcy Law content page.