Key Deadlines to Know When Filing for Bankruptcy in Virginia

Filing for bankruptcy can be a complex process, and understanding key deadlines is essential to ensure a smooth experience. If you are considering filing for bankruptcy in Virginia, it’s crucial to familiarize yourself with the important timelines that can affect your case.

1. Credit Counseling Course Deadline
Before you can file for bankruptcy in Virginia, you must complete a credit counseling course. This must be done within 180 days prior to filing. Make sure to obtain a certificate of completion, as you will need to submit it with your bankruptcy petition.

2. Filing the Bankruptcy Petition
When you are ready to file, you need to ensure that your bankruptcy petition is submitted on time. For Chapter 7 and Chapter 13 bankruptcies, the filing date establishes the timeline for all subsequent deadlines and processes. If you are filing for Chapter 13, you will need to include a proposed repayment plan with your petition.

3. The Automatic Stay
Upon filing your bankruptcy petition, an automatic stay goes into effect immediately, halting most collection actions against you. However, creditors may request the court to lift this stay in certain circumstances, so it’s important to be aware of this aspect throughout your bankruptcy proceedings.

4. Meeting of Creditors (341 Meeting)
Approximately 20 to 40 days after filing your bankruptcy petition, you will be required to attend a Meeting of Creditors, also known as the 341 meeting. This is your opportunity to answer questions from the bankruptcy trustee and creditors regarding your financial situation.

5. Deadline to Object to Discharge
Creditors and the bankruptcy trustee have 60 days following the Meeting of Creditors to file objections to the discharge of your debts. It’s crucial to understand this timeline, as it could impact the completion of your bankruptcy case.

6. Filing for Chapter 13 Plan Confirmation
If you are filing under Chapter 13, your repayment plan must be confirmed by the court, which typically occurs within 45 days after the Meeting of Creditors. Be sure to follow up with your attorney regarding this essential step to avoid delays.

7. Proof of Completion of Financial Management Course
Before your debts can be discharged, you are required to complete a financial management course. Certificate confirmation of this course must be filed with the court no later than 45 days after your Chapter 13 plan is confirmed or your Chapter 7 discharge hearing, whichever is applicable.

8. Final Discharge
In a Chapter 7 bankruptcy, the final discharge typically occurs 60 to 90 days after the Meeting of Creditors if no objections are raised. In Chapter 13, the discharge comes after you have completed all payments under your repayment plan, which usually takes three to five years.

Understanding these key deadlines when filing for bankruptcy in Virginia is vital. Missing any of these deadlines can significantly impact the outcome of your case, so staying organized and maintaining open communication with your bankruptcy attorney is essential.