Bankruptcy Blog
What Is the Bankruptcy Means Test in Virginia?
Quick Answer The Means Test is a calculation required by federal bankruptcy law to determine whether you qualify for Chapter 7. It compares your income to the Virginia median income for your household size. If you are below the median, you automatically pass. If...
Can I File Bankruptcy Without an Attorney in Virginia?
Quick Answer Technically yes — it is called filing “pro se.” But the Eastern District of Virginia Bankruptcy Court is one of the most complex federal courts in the country, and EDVA trustees and judges hold pro se filers to the same standards as attorneys. The rate of...
What Happens at the 341 Meeting of Creditors in Virginia?
Quick Answer The 341 Meeting is a short, required hearing — typically 5–15 minutes — where the bankruptcy trustee asks you basic questions about your petition under oath. In the Eastern District of Virginia, it is conducted by phone or Zoom for most consumer cases....
What Is a Bankruptcy Discharge?
Quick Answer A bankruptcy discharge is a federal court order that permanently eliminates your legal obligation to repay certain debts. Once discharged, creditors are permanently prohibited from taking any collection action on those debts. It is the legal fresh start...
Can I Buy a House After Bankruptcy in Virginia?
Quick Answer Yes. FHA loans are available as soon as 2 years after Chapter 7 discharge. VA loans also at 2 years. Conventional Fannie/Freddie loans at 4 years. Chapter 13 filers may qualify for FHA as early as 1 year into an active plan. Many Merna Law clients are...
Can I Buy a Car After Bankruptcy in Virginia?
Quick Answer Yes — many Virginia bankruptcy filers purchase a vehicle within months of their discharge. Auto lenders who specialize in post-bankruptcy borrowers are widely available. The rates will be higher at first, but refinancing becomes an option as your credit...