Best Bankruptcy Lawyers in Hampton, VA

Hampton, VA Bankruptcy FAQs

• Where do I file for bankruptcy in Hampton, Virginia?

  You can file your bankruptcy petition to the United States Bankruptcy Court for the Eastern District of Virginia, which has divisions and offices located in Alexandria, Norfolk, Richmond, and Newport News. To find the exact address and contact details for each division, you can visit https://www.vaeb.uscourts.gov/divisional-offices.

• Where can I get bankruptcy forms in Hampton, Virginia?

  To obtain bankruptcy forms in Hampton, you can visit the United States Courts Bankruptcy Forms page at http://www.uscourts.gov/FormsAndFees/BankruptcyForms.aspx.

• How long does the bankruptcy process take in Hampton?

  The duration of the bankruptcy process in Hampton varies depending on the chapter type. Chapter 7 bankruptcy usually takes around six months and involves liquidating assets and eliminating eligible debts. In contrast, Chapter 13 entails creating a repayment plan, with payments made to creditors over a period of time. This process can last up to 60 months. It is important to note that these timeframes can vary according to the complexity of your case and other factors.

• What is the difference between Chapter 7 and Chapter 13 bankruptcy in Hampton?

  In Hampton, filing for Chapter 7 bankruptcy requires surrendering assets to repay creditors. It is suited for individuals with minimal property, substantial unsecured debt, and low income. It lasts around six months and stays on credit reports for 10 years. On the other hand, Chapter 13 bankruptcy is for individuals with regular income. It allows a payment plan of over three to five years and stops creditor actions for property retention. It remains on credit reports for seven years.

• Will filing for bankruptcy affect my spouse's credit in Hampton?

  Filing for bankruptcy in Hampton usually does not impact a spouse's credit if they are not jointly responsible for the debts. However, joint debts can affect the non-filing spouse's credit in a Chapter 7 bankruptcy, allowing creditors to take legal action. In Chapter 13, the co-debtor stay protects co-debtors, but creditors can request its removal if the joint debt remains unpaid.

• What is the role of the bankruptcy trustee in Hampton?

  The bankruptcy trustee in Hampton is responsible for collecting debtor payments, distributing funds to creditors, and organizing debtor-creditor meetings. They represent the bankruptcy estate and prioritize the interests of unsecured creditors. The trustee, whether an individual or a corporation, reviews debtor information, recovers assets through legal action, and liquidates assets in Chapter 7 cases. In Chapter 12 and 13 cases, trustees supervise repayment plans and handle debtor payments for creditor distribution.

• Can taxes be discharged through bankruptcy in Hampton?

  In Hampton, most tax debts cannot be included in a bankruptcy filing. Tax debts that are not considered dischargeable include:

  • Those secured by a lien
  • Those that became due within three years of the bankruptcy filing
  • Those for which a tax return was not filed
  • Those for which the tax return was filed within the two years prior to filing bankruptcy
  • Those resulting from fraudulent tax returns