An independent legal information resource. Not a law firm. Not legal advice.

FreeNetLaw Consumer Legal Reference

Bankruptcy in Virginia: Exemptions and Filing Guide

State-specific bankruptcy exemptions and filing information for Virginia. These exemptions determine what property you can keep when filing Chapter 7 bankruptcy.

Data last updated: Jan 15, 2025

Key Takeaways

  • Homestead exemption: $5,000 ($10,000 if 65+ or disabled).
  • Vehicle exemption: $6,000.
  • Must use state exemptions (no federal option).
  • Attorney fees: $1,200–$2,000 (Ch. 7) / $3,000–$4,500 (Ch. 13) typical.
$5,000 ($10,000 if 65+ or disabled) Homestead exemption
$6,000 Vehicle exemption
No Federal option
$338 (Chapter 7) / $313 (Chapter 13) Filing fee

Virginia Bankruptcy Exemptions

  • Homestead$5,000 ($10,000 if 65+ or disabled)
  • Vehicle$6,000
  • Personal property$5,000 household goods; $1,000 clothing
  • Wildcard$10,000 (for veterans, disabled, 65+) or $5,000 otherwise in lieu of homestead
  • Federal exemptionsNot available

Means Test: Virginia Median Income

To qualify for Chapter 7 in Virginia, your income must be below the state median or you must pass the means test showing no disposable income for creditors.

  • 1 person$66,800
  • 2 people$83,200
  • 3 people$95,800
  • 4 people$112,400

Filing Costs

  • Court filing fee$338 (Chapter 7) / $313 (Chapter 13)
  • Typical attorney fee$1,200–$2,000 (Ch. 7) / $3,000–$4,500 (Ch. 13)
  • Court districtsEastern and Western Districts of Virginia

Virginia bankruptcy court

Related Resources

Frequently Asked Questions

  • What is Virginia's homestead exemption?

    Virginia's homestead exemption is $5,000, increasing to $10,000 for those age 65 or older or disabled.

  • Can I use federal exemptions in Virginia?

    No. Virginia requires the use of state exemptions.

  • What is the vehicle exemption in Virginia?

    Virginia provides a $6,000 exemption for one motor vehicle.

  • Does Virginia have special protections for veterans?

    Yes. Disabled veterans may claim a $10,000 exemption in lieu of the standard homestead exemption.

Legal Disclaimer: FreeNetLaw provides general legal information, not legal advice. The information on this site is not a substitute for consultation with a licensed attorney. Laws vary by jurisdiction and change frequently. Always verify information with official sources and consult a qualified attorney for advice about your specific situation.

Sources