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New Day Legal - Virginia Bankruptcy Lawyers
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#BankruptcyLaw - #Chapter7ExemptionRules

Every householder in Virginia has an automatic exemption called a Poor Debtor’s Exemption under Virginia Code Section 34-26. It is simply a list of things that you get to keep no matter what, whether you file a bankruptcy or not. Everybody in Virginia, whether you’re a millionaire, the governor, everybody in Virginia is entitled to the Poor Debtor’s Exemption.

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#BankruptcyLaw - #Chapter7Process - What Is the Process for Filing Chapter 7 Bankruptcy?

Your first step should be to consult first with experienced Fairfax bankruptcy lawyers. We can walk you through every step of the process. We know that this is a stressful time for you and your loved ones, but thankfully, we at New Day Legal can handle your case so that the process runs as smoothly as possible.

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#BankruptcyLaw - #Chapter7Bankruptcy

Chapter 7 bankruptcy is sometimes referred to as “Chapter 7 liquidation” because theoretically all nonexempt assets can be sold (liquidated) to repay the creditors. However, the sale of any assets very rarely happens. In most Chapter 7 proceedings, basic household goods, the filer’s primary residence, their vehicle, and various other personal items are exempt from liquidation.

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#BankruptcyLaw - #CreditorHarassment

At #NewDayLegal, we are passionate about protecting clients who have suffered unlawful abuse from antagonistic creditors. Our dedicated legal team has helped many clients throughout Virginia — including in Warrenton, Manassas, Fairfax, and Culpeper, and all across the state — assert their rights by putting a stop to creditor harassment.

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#BankruptcyLaw - Is Chapter 11 Is Beneficial To An Individual?

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#BankruptcyLaw - Which Bankruptcy Is Feasible For Me?

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#BankruptcyLaw - #LoanModification

Loan modification is an alternative debt relief method that allows debtors the chance to work directly with their creditors in an attempt to restructure or reduce their loans without filing for bankruptcy. It is important to realize that whether or not you are able to modify your loan remains entirely at the discretion and preference of your individual debt collector.

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#BankruptcyLaw - #Chapter12

Chapter 12 is a very specific type of bankruptcy that is reserved for family farmers and family fishermen. This chapter is designed to assist families who are struggling to make ends meet by allowing them the opportunity to repay their debts through a repayment plan that is approved by the court.

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#BankruptcyLaw - #Chapter11

Many believe that a Chapter 11 is only available to businesses. However, under certain circumstances, an individual may not qualify for Chapter 13. For instance, there are debt limitations in a Chapter 13. Your unsecured debt cannot exceed $392,725, and your secured debt cannot exceed $1,184,200.

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#BankruptcyLaw - How Does A #Chapter13 Affect Mortgages Or Foreclosure?

If your house is up for foreclosure, filing a bankruptcy in Virginia is the one and only absolutely surefire way that I know to stop a foreclosure. Virginia is a non-judicial foreclosure state, meaning that the courts do not have any knowledge that the foreclosure is taking place.

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