I’m Northern Virginia bankruptcy lawyer Robert Weed.  I want to talk to you about using Chapter 13 bankruptcy to stop foreclosure in Virginia. Before the housing crisis, Chapter 13 bankruptcy was the best way to stop foreclosure in Virginia.  Today, a lot of the time, getting a loan modification is a better way to stop […]The post Stop foreclosure in Virginia with Chapter 13 Bankruptcy appeared first on Robert Weed.

You can often consolidate your federal student loans. Whether it’s a good idea, however, is a different matter entirely.
I’m a big fan of keeping my finances simple.
The more bills I get each month, the more likely it is that something’s going to fall through the cracks.

Most income taxes cannot be discharged in bankruptcy, but some can. To find out whether yours can, your lawyer will need your tax account transcript.  The IRS makes these available now on line.  You can download yours here. Why do you need that?  Your lawyer can use your account transcript to see if your taxes […]The post Before bankruptcy: Getting your tax account transcripts appeared first on Robert Weed.

The Statement of Current Monthly Income is used by judges to determine if your income level raises the question of abuse of the bankruptcy laws. Part of the responsibility of the judge in a bankruptcy case is to ensure that debtors do not abuse the bankruptcy laws and avoid paying debts by filing bankruptcy when they have the means to pay. Prior to 2005, this determination was made at the discretion of judges. After new bankruptcy laws were passed in 2005, judges are no longer able to use their discretion, but instead follow the formulas outlined in the law to determine if there is abuse.

The Statement of Current Monthly Income is used by judges to determine if your income level raises the question of abuse of the bankruptcy laws. Part of the responsibility of the judge in a bankruptcy case is to ensure that debtors do not abuse the bankruptcy laws and avoid paying debts by filing bankruptcy when they have the means to pay. Prior to 2005, this determination was made at the discretion of judges. After new bankruptcy laws were passed in 2005, judges are no longer able to use their discretion, but instead follow the formulas outlined in the law to determine if there is abuse.

A layperson is often at a disadvantage when defending against a debt collection suit filed by an attorney. The debtor as a defendant does not know the "rules of the game" and sometimes takes the advice or direction of court staff (who by the way should not be giving legal advice but often do.)

A layperson is often at a disadvantage when defending against a debt collection suit filed by an attorney. The debtor as a defendant does not know the "rules of the game" and sometimes takes the advice or direction of court staff (who by the way should not be giving legal advice but often do.)

Deciding whether to file for bankruptcy with your spouse or to go it alone isn’t a simple choice.
You know you can file for bankruptcy alone. And if you live in a community property state, you know your spouse gets some of the benefits of bankruptcy without filing.
But that doesn’t help you decide if you should file together or not. It’s a lot more complicated that that.
Will Your Household Benefit Financially?

Reasons To File Bankruptcy People hesitate to file bankruptcy for a variety of reasons.  The first is the name bankruptcy has a negative connotation which has been around for centuries.  The truth is bankruptcy was put in place to help people who are struggling financially.  Bankruptcy is not a scarlet letter that someone has to+ Read MoreThe post Why Do People Hesitate To File Bankruptcy? appeared first

Once you file for bankruptcy, there are two things that automatically occur: the automatic stay springs into effect to prevent your creditors from collecting, and the bankruptcy estate is created. The bankruptcy estate defines the nature of your assets by the date and time that you filed for bankruptcy.