The new bankruptcy law has made filing more difficult for a lot of people and the bankruptcy court has raised the filing fee for bankruptcy. But debtors considering filing bankruptcy in Virginia are largely unaffected by the changes in the new bankruptcy law.

The new bankruptcy law has certainly made things more complicated and time consuming, but the virginia beach bankruptcy lawyers and the norfolk bankruptcy lawyers at our office have been very successful in adapting to the changes in the new law.

One of the most complicated parts of the new bankruptcy law is the bankruptcy means test. The bankruptcy means test is a mathematical calculation used to help determine whether or not a debtor will file a chapter 7 bankruptcy or chapter 13 bankruptcy.

Debtors in Virginia have an advantage over debtors filing in other states because Virginia has a high median income. The state median income is the most important factor in the means test calculation and the high median income for Virginia has made it easier for many debtors to file bankruptcy in Virginia, particularly in the Hampton Roads area where our firm practices.