Legal Question in Bankruptcy in Virginia

If I am likely to be hit with a judgement in the near future, is it best to file bankruptcy before or after the judgement is levied?

Asked on 9/27/10, 3:15 pm

1 Answer from Attorneys

Robert Brandt The Law Firm of Robert S. Brandt

If you own real estate, particularly if you have equity in the property, then you will be much better off filing for bankruptcy before the judgment is entered and recorded. Once the judgment is recorded there will be a lien on your home. If you do not own real estate, then it is less urgent, though if you wait too long, eventually your wages or bank accounts will get garnished without prior notice, forcing you to file bankruptcy ASAP.

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Answered on 10/04/10, 1:02 pm

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