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West Virginia Bankruptcy Laws

Bankruptcy is an option offered by the government to debtors who are unable to get out of debt on their own. It is a legal proceeding designed to give those who are financially bankrupt to get some debt relief and a fresh start. Federal law provides individuals and businesses the right to file for [...]


Distinguishing Between Secured and Unsecured Debts in Bankruptcy

Filing bankruptcy can be a daunting process especially if you need to take note of important details that may affect the outcome of the bankruptcy case filed. All debtors who decide to file for bankruptcy must disclose all unsecured and secured debts, also called “creditor claims”, in their official bankruptcy forms. As categorizing a [...]


Chapter 13 Bankruptcy Cramdowns

If you’re financially struggling, declaring bankruptcy may be your path to debt relief. Bankruptcies are known to be effective in addressing financial problems, and the different types of bankruptcy in the bankruptcy code ensure that there is a bankruptcy chapter that specifically suits your financial circumstances. For instance, if it’s your wish to continue [...]


Preparing Your Bankruptcy Information

If you’re out of your depth with your financial problems, a petition for bankruptcy may be in order. Understandably, there are some things you have to do before filing that bankruptcy petition and working on getting out of debt. The first step you need to take is to figure out your finances. You must [...]


West Virginia Bankruptcy in a Nutshell

West Virginia Bankruptcy Basics There is a myth that many credit card companies perpetuate that only people who overspend go bankrupt. This simply isn’t true. Many people who don’t misuse their credit cards have filed for bankruptcy with a United States bankruptcy court. Bankruptcy lawyers will tell you that many of their clients were [...]


Preparing for Bankruptcy in West Virginia

Are your financial problems driving you to seek the bankruptcy protection that bankrupt filers get? The automatic stay that is put in place upon a bankruptcy filing is an injunction that stops collection agencies and creditors in their debt collection efforts. The bankruptcy process is supposed to help you get out of debt, but [...]


Bankruptcy Exemptions in West Virginia

For those considering personal bankruptcy as the solution to their financial problems, they must choose to file for bankruptcy under either Bankruptcy Chapter 7 or 13. Both types of bankruptcy allow filers to exempt certain assets from bankruptcy proceedings. Exempted assets are not sold to a creditor to pay off a debt. Different types [...]


Automatic Stay in West Virginia Bankruptcy

The “automatic stay” is an injunction triggered by filing one of the following types of bankruptcy: Chapter 7, Chapter 11, and Chapter 13. With it in place, debtors are protected from further debt collection activities from creditors and collection agencies. With an automatic stay, these entities must stop all collection efforts right away. Those [...]


The Different Steps of the Bankruptcy Process

Bankruptcy can temporarily blemish your credit report, but it does give you a fresh start as well. If you’re unable to pay your debts because of serious financial distress, start thinking about filing for bankruptcy. To make an informed decision, consult a bankruptcy attorney for legal advice on your situation. The Right Bankruptcy Chapter [...]


Hire a Bankruptcy Attorney

Why Hire a Bankruptcy Attorney Bankruptcy cases come in different kinds, circumstances, and degrees of complexity. While it’s advisable that you go through bankruptcy aided by the legal services of an experienced bankruptcy attorney, it’s not required. Take note, however, that with certain assets of value, filings under Bankruptcy Chapter 13, cases involving fraud, [...]