Is there a deadline for filing for bankruptcy?

Yes, there is a deadline for filing for bankruptcy in Virginia. Bankruptcy cases must be filed within a specific period of time after the bankruptcy petition has been prepared. Generally speaking, this deadline is known as the “statute of limitations” and is determined by the state in which the bankruptcy was filed. In Virginia, the general rule is that a bankruptcy case must be filed within one month of the date of the bankruptcy petition. In addition to the general deadline for filing for bankruptcy, there are additional deadlines for certain types of cases. For example, a chapter 13 bankruptcy case must be filed within 90 days of filing the petition. In a chapter 7 bankruptcy case, the debtor must file a petition within two years of when the creditor first demanded payment. In rare cases, the deadline for filing a bankruptcy case may be extended beyond the general deadlines. This is known as a “tolling”, and is typically only applicable in limited circumstances. If a debtor is unable to file a bankruptcy petition on time due to extenuating circumstances, they can petition the court to extend the statute of limitations. Therefore, it is important for any debtor considering filing for bankruptcy in Virginia to be aware of the statute of limitations for the specific type of bankruptcy case that they are filing, as well as any other deadlines that may apply. A bankruptcy attorney can provide additional information regarding the deadlines and requirements for filing a bankruptcy petition.

Related FAQs

What is the difference between a joint bankruptcy filing and an individual filing?
Can I file for bankruptcy to stop creditor harassment?
Does filing for bankruptcy stop foreclosure proceedings?
How do I know if I am eligible for a Chapter 11 bankruptcy?
What is the meaning of a bankruptcy discharge?
Is it possible to have a bankruptcy case dismissed?
How long do I have to wait before I can file for bankruptcy again?
What is the difference between a discharge and a dismissal?
What is the difference between a Chapter 11 and a Chapter 13 bankruptcy?
What will happen to my co-signers if I file for bankruptcy?

Is there a deadline for filing for bankruptcy?

Related FAQs

Related Blog Posts