What is Virginia Exemption for personal property in chapter 7

Asked over 1 year ago - Ashburn, VA

What is VA exemption for personal property in chapter 7?

Attorney answers (4)

  1. Daniel Mark Press

    Pro

    Contributor Level 14

    3

    Lawyers agree

    Answered . See this article:
    http://www.bankruptcylawnetwork.com/what-can-i-...

    Note that the car exemption has now been increased to $6000, and there is an exemption for one firearm up to $3000.

  2. Victoria Lee Allen

    Contributor Level 14

    2

    Lawyers agree

    Answered . Generally, the personal property exemptions for Virginia are listed in Va. Code Section 34-26. There are other exemptions possible depending upon certain conditions, so you should speak with a bankruptcy attorney in your area to ensure you have claimed all exemptions you are entitled to claim. For instance, you may have real estate exemptions, agricultural exemptions, tools of the trade, etc.

    Here is a link to the Va. Code section noted above:
    http://leg1.state.va.us/cgi-bin/legp504.exe?000...

    Please note that this response is based upon the limited information available in the question. In addition, it... more
  3. Mark Markus

    Contributor Level 16

    3

    Lawyers agree

    Answered . "personal property" covers a lot of items, so you need to be more specific. You also need to make sure that Virginia's exemption laws apply in your case. Exemption laws are based on the state where you resided for the 2 years prior to filing your bankruptcy case or, if you lived in more than 1 state during that period, in the state where you resided for the greater part of the 180 days prior to that 2 year period.

    Mark Markus has been practicing exclusively bankruptcy law in California since 1991. He is a Certified Specialist in Bankruptcy Law by the State Bar of California Board of Legal Specialization, AV-Rated by martindale.com, and A+ rated by the Better Business Bureau. His webpage is www.bklaw.com

    Legal disclaimer: Mark J. Markus practices law in California only. The information is not, nor is it intended to... more
  4. Michael Avanesian

    Pro

    Contributor Level 16

    2

    Lawyers agree

    Answered . I highly recommend that you talk to an attorney and not do this on your own.

    The above is general legal and business analysis. It is not "legal advise" but analysis, and different lawyers may... more

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