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Avoid Mistakes When Planning and Filing Virginia Bankruptcy Cases
The best-planned bankruptcy cases go unnoticed. A few debtors glide through the system without attracting attention and receive full discharges in record time. Luck is not involved, but rather each successful debtor begins planning strategically a few weeks or months in advance. These debtors know something that you don’t.
Free - 2010 Bankruptcy Strategies Explained
Ask a Bankruptcy Lawyer for Help – Expand Your Options Quickly
If you are thinking about filing Chapter 7 or Chapter 13 bankruptcy, you are not alone. Complete the form below to contact a sponsoring bankruptcy lawyer. Ask all questions you deem important without cost or obligation of any kind. Free help is only a few minutes away.
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"California Free Bankruptcy Forms"
No one should pay for California bankruptcy forms. Courts provide free forms. However, many bankruptcy software
programs provide much more than forms, including easy editing, error checking, explanations, cites to statutes,
cases and rule requirements, and are updated for compliance with local rules.
| The Federal Rules of Bankruptcy Procedure, in Rule 9009, provide "The Official Forms
prescribed by the Judicial Conference of the United States shall be observed and used with alterations as
may be appropriate. Forms may be combined and their contents rearranged to permit economies in their use.
The Director of the Administrative Office of the United States Courts may issue additional forms for use
under the Code. The forms shall be construed to be consistent with these rules and the Code." |
The California Bankruptcy Courts adopted new statutory limits (dollar amounts) within Title 11 of the U.S.
Code. Section 109(e) - the allowable debt limit for unsecured debt is increased to $307,675. The allowable
debt limit for secured liabilities is increased to $922,975. The minimum aggregate claims need to commence an
involuntary petition under Section 303(b) is increased to $12,300. Exemptions provided by Section 522 are also
increased. The maximum value of homestead equity that may be claimed is increased to $18,450. Other exemption
increases include paragraphs (2) through (8). Luxury goods and services obtained within 60 days before filing
are nondischargeble, if exceeding the newly amended amount of $1,225. These amounts are adjusted automatically
by California bankruptcy courts every three years.
Back to California Bankruptcy words & phrases.
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