Meet Your





BANKRUPTCY Information Central

5020 Monument Avenue, Richmond, VA  23230

Broad Street Bankruptcy Clinic

5020 Monument Avenue

Richmond, VA  23230

804-355-3303 * 804-355-5719

The Bankruptcy Process in Virginia

Virginia Bankruptcy Lawyer

The bankruptcy process moves through several standard steps for each form of bankruptcy. The most commonly filed form of bankruptcy is Chapter 7. The process for Chapter 7 bankruptcy filing is completed within about 4 months in most cases. At Oregon Fresh Start, our Oregon bankruptcy lawyer can help you get the new financial beginning you need if you are in serious debt-related problems. Understanding the process can help you make a decision about whether to move forward. When there are pressing financial problems, it is better to solve them sooner than later, as the situation often just gets worse.

The Steps in the Process

Credit Counseling

A legal requirement prior to filing bankruptcy is that you get credit counseling. This is done through a federally approved agency, at a low cost. The counseling is usually done by telephone.

Completion of Petition

We prepare your petition using information you provide. The information must be 100% accurate. As an aid in preparing your petition, we will ask you for 6 months of income information. After signing, you petition is filed with the court and the court notifies your creditors.

Court Appearance

You will have to appear at a meeting, the first one is called the "Meeting of Creditors" or the "341 Meeting." This takes place about 5 - 6 weeks after you have filed your petition. You will be put under oath and questioned about your petition to determine if it is accurate. This meeting usually takes no longer than 5 minutes. Creditors have the right to attend, but rarely do. Our attorney will represent you at this meeting.

Discharge of Debt

After about 3 months, the bankruptcy process is completed and your debt discharged relieving you of most debt. Our firm is here to assist you throughout every step of the process; we are very familiar with the bankruptcy court in Richmond and have assisted thousands of people with bankruptcy over our combined 42 years in practice. We know how important it is to you and your family or your business to get back on your feet and have relief from the pressure of debt. We can help.

Contact a Virginia bankruptcy attorney from our firm today for more information about the bankruptcy process.