Legal Question in Bankruptcy in Virginia

Selling my home before filing for bankruptcy

I am a separated female with a small child in virginia. Last week I spoke to a bankruptcy lawyer about the options for filing bankruptcy. I have not officially hired an attorney yet. I am pretty sure that i am going to file. I want to know if selling my home could have an effect on my petition to file bankrupcty. I don't want to do anything that would look fraudulent. I am trying to reduce my expenses and selling my home would help me a great deal.

Asked on 7/05/01, 1:47 pm

2 Answers from Attorneys

Tommy Andrews, Jr. Tommy Andrews, Jr., PC

Re: Selling my home before filing for bankruptcy

If you are going to net a gain by selling the house the sale prior to filing a Chapter 7 may become a problem. Issues concerning a house and bankruptcy are very fact intensive. TTA

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Answered on 7/09/01, 10:11 pm

Daniel Press Chung & Press, P.C.

Re: Selling my home before filing for bankruptcy

Discuss this with the lawyer you intend to hire (and retain counsel now, whether or not you intend to file immediately). If that lawyer is not to your liking, there are lots of us bankruptcy lawyers out here. It may make sense to wait until after you file bankruptcy to sell the house, or it may be best to sell first, depending on the circumstances.

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Answered on 7/05/01, 5:30 pm

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