Legal Question in Bankruptcy in Virginia

Re: saving home

Depending on what you owe on the home, and how much of your homestead exemption entitlement you have to use up to save other assets, you may or may not lose the home in a Chap. 7. If you face that risk, Chapter 13 may be a better option, but you will have to pay over 3-5 years at least the amount that creditors would have received in a Ch. 7. You should consult with a competent bankruptcy lawyer to advise you.