• courthouse image by Michael Shake from Fotolia.com
  
  Filing for bankruptcy is often the only option available to those who find themselves struggling with a substantial amount of debt. If you are filing for bankruptcy in the Commonwealth of Virginia being aware of the Virginia bankruptcy laws will make the filing process easier to navigate and help you avoid errors that could delay the process or prevent you from getting debt relief.
  
  

Credit Counseling Course

• Individuals planning to file for bankruptcy must complete a credit counseling course no more than 6 months prior to filing. This course can be completed in person or online. Bankruptcy attorneys and the clerk of court can provide a list of approved credit counseling courses. As of 2010, the course fee ranged from $50.00 to $100.00.
  
  

Means Test

• The Bankruptcy Act of 2005 requires all individuals seeking bankruptcy relief to pass a means test. This test is utilized by the court to determine whether or not the individual filing is truly unable to repay the debt in question. The court will use the income earned in the six months prior to the bankruptcy filing to determine the petitioner's average income. If the income exceeds the Virginia median income and the petitioner can pay a minimum of $166.67 dollars per month to creditors, a Chapter 7 bankruptcy petition will be denied and the petitioner will be encouraged to file for Chapter 13 bankruptcy relief instead.
  
  

Complete all Schedules

• In addition to a bankruptcy petition that includes income sources and a list of creditors, several forms referred to as schedules must be filed with the appropriate district court. These schedules are used to document the petitioner's current financial status by requiring him or her to account for all financial transactions in a two year period. These schedules are sent to the creditors and if the creditors, trustee or judge feels that information has been omitted the bankruptcy case might not be approved.