Familiarize yourself with the business bankruptcy Virginia process

Filing for bankruptcy has changed drastically since the passage of the 2005 bankruptcy laws. You may not be eligible any longer to file for Chapter 7 bankruptcy. If you have a valuable asset that isn't covered under the exemptions that you want to keep , Chapter 13 may be a better option for you anyway.

I recommend: The Bankruptcy Site has detailed information that covers bankruptcy law in Virginia. SRIS, P.C., offers detailed information on the different bankruptcy options available.

Determine the exemptions you have under VA bankruptcy laws

Know the exemptions you have available under Virginia bankruptcy laws. Homestead, insurance and pensions are some of the property concerns you want to investigate before you make a decision to file for bankruptcy in Virginia.

I recommend: Virginia Bankruptcy has a chart showing all of the exemptions that are available under Virginia bankruptcy law with explanations on how each of the exemptions work. Bankruptcy Information also has a chart with all of the available exemptions in Virginia as well as links to other VA bankruptcy law information.

Hire a good bankruptcy lawyer in VA

It's not a good idea to file for bankruptcy without a good bankruptcy attorney. If you're looking for a bankruptcy law firm, Virginia has several of high-quality ones from which to choose. Find a bankruptcy attorney in Virginia that is a good fit for you and your business.

I recommend: Lawyers.com has a database where you can find a bankruptcy lawyer. Virginia Beach-based lawyers from the Law Offices of Tom C. Smith specialize in bankruptcy law.