To actually file, either you or your attorney, will need to file a two-page petition and several other forms at your Virginia district bankruptcy court. These forms, collectively are referred to as the schedules and ask you to describe your current financial status and recent financial transactions typically within the last two years. If your creditors or the judge feel or find out that you have not been entirely forthcoming in your bankruptcy filing, it could jeopardize the outcome of your petition.
This fee may not be waived but you may be able to pay it in installments. Chapter 13 Requirements If you are filing a Chapter 13 bankruptcy, a proposed repayment plan must also be submitted.
After reasonable monthly expenses have been paid, how much money will you have left over to put toward your outstanding bills? And how will this money be divvied up among those you owe? Priority claims such as taxes and back child support must be paid in full; unsecured debts like credit card debt and medical bills are usually paid in part.
Depending upon the judgments of those involved with your case, unsecured debts can be paid off for as little as 10 cents on the dollar. In addition to the general requirements listed above, the repayment plan must pass each of the following three tests: 1 It must be delivered in good faith.
Generally, this is the value of all the nonexempt property you own see Virginia bankruptcy exemptions. If you have filed Chapter 13, you must begin making your plan payments. Generally these payments will be withdrawn directly from your wages and you or your attorney should arrange with the court for these payments to be deducted from your wages.
These collections of documents make up debtors' bankruptcy records in Virginia. Of course, no two bankruptcy cases are the same. Nevertheless, a requester who obtains a bankruptcy record can expect to find the following information and documents in a typical Virginia bankruptcy record:. Likewise, the U. Bankruptcy code considers bankruptcy filings as a public affair. Accordingly, bankruptcy records and associated events are generally open to interested members of the public.
Regardless, these laws on public information make provisions for the sequestration of documents that contain sensitive or confidential information such as trade secrets or information that could sabotage national security 11 U. Record seekers may also obtain bankruptcy records from third-party websites. These non-governmental data platforms provide tools that help simplify the search for single or multiple records.
Most third-party sites require some information to process a search. Interested parties may need to provide:. Bankruptcy in Virginia describes a legal proceeding where debtors seek to liquidate assets or restructure their debts to pay off creditors. Thus, all bankruptcy cases are under the supervision of bankruptcy courts in federal districts. In Virginia, persons or entities can file for bankruptcy at the bankruptcy court where the residence or business is domiciled.
There are two federal districts in Virginia, each with a bankruptcy court overseeing all bankruptcy cases in the districts. The Bankruptcy Code defines debtors as persons or entities filing for bankruptcy, and it enables debtors to file under the different types of bankruptcy.
For example, the Bankruptcy Code allows debtors to liquidate assets by filing a chapter 7 bankruptcy. On the other hand, persons or entities can file for chapter 11 or 13 bankruptcy to restructure and repay most debts over a selected period. Individuals, corporations, sole proprietors, partnerships, farmers, and fishers can file for bankruptcy in Virginia. Sometimes, creditors can file for bankruptcy on behalf of debtors.
The bankruptcy code enables two or more creditors to force a debtor into bankruptcy if they meet the requirements. To file for bankruptcy, debtors must qualify for the specific financial requirements of a particular type of bankruptcy. In contrast, chapter 11 bankruptcy is available to persons or businesses that seek to liquidate or reorganize their assets to pay off creditors.
Interested persons can get publicly available bankruptcy records in Virginia in person, via mail, or online. The intending requester must choose the most convenient means to get the records of interest. Thus, the intending requester must identify the court where the debtor filed the petition. The request must state details such as the name of the debtor, the county of residence or incorporation, and the case number if known.
It is also helpful to provide the presiding judge's name, the case trustee's name, or the representing attorneys'. The applicable fees are payable with a certified check, cashier's check, money order, and cash.
In identifying the court of the petition, bear in mind that Virginia comprises two bankruptcy districts. These Eastern Bankruptcy District and Western Bankruptcy District have administrative and jurisdictional authority over specific counties.
The Districts are further composed of Divisions - several counties. For example, bankruptcy filings from Madison county go to the Lynchburg Division. Consult the court directory for the mailing address of the bankruptcy court of interest. Then, the requester must enclose the written request containing the necessary details in a self-addressed stamped envelope. Also, attach the acceptable payment form, i.
Under certain circumstances, bankruptcy courts make exceptions for persons who cannot afford to pay the search fee and copying fees. Consult the fee schedule for more information on fee waivers. Besides maintaining physical copies of the documents filed during a bankruptcy petition, courts also keep digital copies of the bankruptcy records.
The transition to an online repository helps preserve public records and provide broader inclusion to interested public requesters. Bankruptcy courts scan and upload physical filings to the public access to court electronic records system PACER.
After signing up, log in to the system and perform a search using the debtor's name or unique case number as search parameters. Pursuant to 44 U. At present, this generally applies to bankruptcy records earlier than December To access archived bankruptcy records, order online or contact the Records Center via email at frc nara. A bankruptcy case becomes closed when the presiding judge issues a final judgment - not when the court discharges the debt.
To know if the bankruptcy case is closed, contact the trustee assigned to the bankruptcy case or visit the clerk's office to confirm the case status. Alternatively, concerned persons may use PACER to check the current status of the bankruptcy case online. There are no federal or state laws that permit the expunction of bankruptcy records in Virginia. Per 11 U. While a person may submit an expunction motion, the bankruptcy court has no statutory authority to grant the request.
The federal bankruptcy code only grants bankruptcy courts the authority to redact, seal, or restrict public access to documents under extenuating circumstances. Regardless of public sequestration, such documents are still available to authorized entities and persons armed with a court order. Persons or businesses in Virginia can file for bankruptcy based on the desired result. An individual may file for chapter 7 bankruptcy if they want total and fast relief from all unsecured debts.
However, they may file a chapter 13 if they want to protect their assets from being liquidated. Alternatively, persons may file a chapter 13 if they want to avoid liquidation of assets. Persons or businesses can file for bankruptcy in Virginia with the clerk of bankruptcy courts at the following locations:.
Divisional Manager P. If you decide to reaffirm the debt, it means that you agree to get current and that you will continue paying down the car loan. In this instance, you would continue to be responsible for this particular debt after the Chapter 7 bankruptcy process ends.
You might be able to negotiate an alternative repayment plan with the creditor. Redeem — You could also attempt to retain the vehicle by redeeming it. Although you would have to pay a lump sum, which might be difficult for those in dire financial situations, you could end up paying a lot less than you would if you redeemed the car.
Filing for Chapter 7 bankruptcy can be stressful and confusing, especially if you are concerned about losing your vehicle. We have five conveniently located offices in Gloucester, Hampton, Newport News, Tappahannock, and Abingdon to serve you, so contact us today for a confidential consultation.
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