A very simple definition would say that there is not enough money left in any form of it, no matter what you try. Whether you’ve made some bad business decisions or you’ve simply been a victim of circumstances and market crises, there is a scary possibility to get to the point where you are not able to pay all your bills and debts anymore. At this point, you can declare a bankruptcy.
In legal terms, bankruptcy is a procedure that enables a person to get a slate clean by discharging most of the bills or by getting some extra time and conveniences to pay the accumulated overwhelming bills.
As a common quote says: No money is better than owing money. If you find yourself deep in debts, though, filing bankruptcy might be the only way out. Even if this procedure does help you eventually, going through series of legal steps and administrative procedures can be quite scary and confusing for non-lawyers.
“Bankruptcy Info for the Fairfax Community” blog emerged from the idea and intention of helping Fairfax citizens who faced bankruptcy. The major goal is to explain thoroughly all aspects of bankruptcy procedure, offer all kinds of valid legal information and knowledgeable guidance that debtor might need when filing bankruptcy.
The mere fact that someone hit the financial bottom is devastating enough. Overwhelming and confusing legal procedures can make a situation look even worse, especially for those who lack knowledge about legal system, their rights, possibilities and responsibilities. The blog will try to gather all the needed data and sum it at one place, so the debtors can ,at least, find out easily what they are about to go through.
Residents of Fairfax community file bankruptcy in one of four courthouses of the Virginia Eastern District Bankruptcy Court. Many steps can be done online, but you’ll have to visit the court in person at least once.
Most of the rules and requirements during the bankruptcy process apply generally at all courts, but you should anyway check out those specific laws and local rules of the Virginia Eastern Bankruptcy Court.
The blog will guide you thoroughly through the process of filing bankruptcy if you decide to do it pro se, meaning without hired lawyer.
You will find detailed descriptions of three major types of bankruptcy: filing under the Chapter seven, eleven or thirteen, explaining requirements, possibilities, risks and options these types involve.
Blog will, also, serve you lists of all the court forms you will have to submit to the court, including federal forms (used nationwide) and local forms (specific for the Virginia Bankruptcy Court and Fairfax citizens).
Among all the basic information, you can go through separate section where different additional aspects of process and legal terms will be explained. Here you will find out about alternatives to bankruptcy, technical properties of the process, details about facing a judge, meeting your trustee, types of debts (dischargeable and non-dischargeable) and many other legal steps that your particular case could include.
All the served information are valid and trusted, coming from legal experts and people experienced in these fields of legal system. The major policy and idea is to present explained procedures and all required information about filing a bankruptcy in order to help all Fairfax residents facing financial collapse to easily go through that phase, especially those who are non-lawyers and plan to file bankruptcy without hiring an attorney.