When a person is declared bankrupt under the federally-governed legal processes in Virginia then he will no longer be liable for most outstanding debts. There are different types of bankruptcies available with one filed frequently being a Virginia Chapter 13 bankruptcy. You can get a suitable lawyer at the John W. Lee P.C law firm to know more details about bankruptcy.
All the legal processes that will be carried out after filing your bankruptcy are basically meant for easing all your debts, which is usually used as a last resort to get out from the debt trap. However, anybody or everybody may not get such protection under bankruptcy.
Therefore, it is very important that you must have the backing and support of any bankruptcy lawyer in Virginia who may guide you properly before you file your case for bankruptcy.
To understand your bankruptcy claim, your lawyer must know accurately about your financial position. Your lawyer in Virginia may ask you a few questions during your meeting with him so that he will know your position correctly.
Some of the questions that your lawyer may ask are as follows:
Has Your Debt Collector Ever Sued You?
If your debt collectors have already sued you then it is necessary that you must respond to it immediately otherwise court decision may go against you and it will be difficult for you to take shelter under bankruptcy. Therefore, you must bring all your documents related to all your debts for the examination.
Are You Facing Any Foreclosure and/or Eviction?
Also, foreclosure and eviction can become another issue that needs immediate attention. You must inform immediately to your lawyer if you are now facing any of these. You must bring all the necessary documents and show them to your lawyer otherwise you may be evicted from your home too.
What Specific Debts Do You Owe?
The strategy of your lawyer may be different based on what kinds of debts you have currently. You must understand that Chapter 7 of the bankruptcy may not offer you protection for all kinds of debts.
So you must have a very detailed discussion with your lawyer and let him know the complete details about your debts so that he can advise you accordingly.
What Are Your Assets and Incomes?
Also, you have to understand that your lawyer must also be aware of your present income details and also about the entire assets that you have. The lawyer can then decide, which chapter will be suitable for your case.