Asset Protection


WILL COLLABORATIVE DIVORCE WORK FOR YOU?

Posted on 03 18,2015

Spouses looking to divorce who may not need lengthy court battles to iron out the details of their divorce settlement should consider a collaborative divorce whereby some third party such as a professional mediator can come alongside the couple to resolve differing points of view on aspects of their divorce such as division of assets, custody, or support.

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WHAT PROPERTY IS EXEMPT OR PROTECTED WHEN FILING BANKRUPTCY IN VIRGINIA?

Posted on 10 19,2013
WHAT PROPERTY IS EXEMPT OR PROTECTED WHEN FILING BANKRUPTCY IN VIRGINIA?

For many people, one of their biggest concerns when filing bankruptcy is whether or not they will be able to keep their home, car or other material possessions. This fear of losing everything is what deters many people from filing at all, even when it could be a tremendous benefit to them financially. Under Virginia State bankruptcy law, there are certain exemptions that you can claim that can allow you to keep certain property and possessions without having them used as repayment for creditors.

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WHAT WILL BANKRUPTCY DO TO MY BANK ACCOUNT?

Posted on 05 02,2013

Once you file and receive a Bankruptcy Order, the process begins and all of your assets fall under the jurisdiction of the Official Receiver. They will order you to stop using all of your bank cards and check books, unless you use one of them for all of your living expenses. For a period of time your bank account could be frozen, which means that you will need to open up another bank account for your income and expenses. No matter whether you apply for a bank account before or after your Order is issued, all your accounts will still be frozen. Once the bankruptcy process begins, you should be able to use your alternate account.

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