top of page
  • Writer's pictureDavid Martin

Can homeowners file a Chapter 7 Bankruptcy and keep their house?

Updated: Feb 22, 2021

Prior to July 1, 2020, it was often difficult to protect your house when you filed a Chapter 7 Bankruptcy in Virginia. Most people could only protect $5,000 of equity in a house using the homestead exemption provided for under Virginia law. However, as of July 1, 2020, the Virginia homestead exemption law changed to allow for an additional $25,000 in exemption for real estate used as a principal residence. This change in the law will allow more homeowners to file a Chapter 7 Bankruptcy without fear of losing their home. Of course, each person is different and anyone considering filing for a Chapter 7 Bankruptcy should consult with an attorney.


Required Notice: We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.




35 views0 comments

Recent Posts

See All

The consequences of reckless driving in Virginia.

A reckless driving conviction in Virginia can result in many negative consequences for a driver, including a potential jail sentence of up to twelve months, a fine of up to $2,500, and loss of driving

We are moving

On June 19, 2023, we are relocating our office to 51 N. Liberty St, Suite 101, Harrisonburg, VA 22802. If you have any problems locating our new office, please give us a call at (540) 217-0265.

Credit for Time Served in Virginia on Felony Charges

Credit for Time Served in Virginia on Felony Charges. On July 1, 2022, there will be significant change in how Virginia Department of Corrections calculates credit for time served for non-violent offe

Comentarios


bottom of page