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The Virginia homestead exemption permits you to secure a little degree of equity in your house should you file for bankruptcy.In return the individual is granted a “discharge” with the personal debt – the personal debt is cancelled. Some debt (spousal and youngster help, college student financial loans and many taxes) can't be discharged in b
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e., repossess the automobile) but the creditor simply cannot obtain the balance owing in the debtor Except if the personal debt has actually been reaffirmed. Debts which are reaffirmed through the bankruptcy scenario will survive.When you file bankruptcy, you will need to list all your assets and your debts. Leaving debts out of one's bankruptcy ca
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