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Do I Have To List All My Debts When Filing Bankruptcy? Call (703) 494-3323 or visit https://fishersandlerlaw.com and ask us about our 👉$0 Down Bankruptcy Program today.👈
Are you struggling to keep up with your bills? Are you tired of feeling like you're drowning in debt? Fisher-Sandler can help. We offer a no money down chapter 7 bankruptcy. This means you can get the fresh start you need without having to pay a penny upfront. Don't wait any longer. Get the debt relief you deserve.
Call (703) 494-3323 or visit https://fishersandlerlaw.com for your FREE consultation.
Do I Have To List All My Debts When Filing Bankruptcy in Virginia?
You must list all of your debts in your bankruptcy petition without exception. Most people have at least one debt they don’t want to erase (discharge) in bankruptcy, and many think they can pick and choose the debts included in the case. The truth is that you must list all of your creditors—even friends and family members you don’t want to stiff.
Bankruptcy law in Virginia doesn’t allow you to decide which creditors get paid—and the reasoning makes sense. When you file for bankruptcy, all of your creditors stand to take a financial loss.
In your bankruptcy forms, you must list all your income and living expenses. This shows the court where your money is going each month. The goal is to demonstrate that you have enough money to afford the things you want to keep but not enough money to pay your other debts.
Generally you do have to list all of your debts in a bankruptcy filling in Virginia. The bankruptcy code does require that you list all of your creditors. The only time that you don't have to list a creditor is if it's unsecured debt like a credit card and it currently has a zero balance at the time that your bankruptcy is filed.
Bankruptcy offers people who are overwhelmed by debt an opportunity for a fresh start through either liquidation (Chapter 7) or reorganization (Chapter 13). In both cases, the bankruptcy court can discharge certain debts. Once a debt has been discharged, the creditor can no longer take action against the debtor, such as attempting to collect the debt or seize any collateral.
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Areas We Serve:
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Fisher–Sandler, LLC
12801 Darby Brook Ct #201
Woodbridge, VA 22192
(703) 967-3315
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Fisher–Sandler, LLC
3977 Chain Bridge Rd #2
Fairfax, VA 22030
(703) 691-1642
RMWV+PG Fairfax, Virginia
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Fisher-Sandler, LLC
8002 Discovery Drive, Ste. 422
Richmond,VA 23229
(804) 664-3643
JF34+P3 Richmond, Virginia
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Fisher-Sandler, LLC - Fredericksburg, VA
1930 William Street
Fredericksburg, VA 22401
(540) 274-5566
7GW5+33 Fredericksburg, Virginia
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Related Videos:
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*DISCLAIMER*
The information in this video is not intended to provide legal advice or to create an attorney-client relationship; but is intended for general education and information purposes only. Laws change periodically, therefore the information in this video may not be accurate. It is imperative that you seek legal counsel in order to determine your rights and obligations under the law and based upon your specific circumstances.
How to Avoid Bankruptcy - 7 Basic Steps
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Top 4 Chapter 7 Bankruptcy Related FAQsThe answer to this question lies in the answer to a broader question: "What is the ultimate aim of filing for bankruptcy?" For starting afresh to emerge out of a financial crisis, after filing bankruptcy by the debtor, Chapter 7 of the Bankruptcy Code is the faster method to achieve the goal. Under Chapter 7 of the Bankruptcy Code all non-exempt property of the debtor is sold and the proceeds of the same are distributed to the creditors. Chapter 7 is brought into force so that the debtor has no assets to lose, thereby further processing will be faster.
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Bankruptcy Public Records - Is There a Way to Obtain Them?With the international financial crises, hearing the word bankrupt is no longer common. Several companies, both large and small enterprises had declared bankruptcy in the United States. But what really is bankruptcy? In this article, I am going to mention to you what is bankruptcy and how to obtain bankruptcy public records.
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