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Michael D. Hart, P.C.
Helping You Move Forward Free Of Financial Problems
540-627-6520
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April 2018 Archives

What to know about bankruptcy

In 2017, there were 765,863 non-business bankruptcy filings throughout America. While it may be an emotional decision to file, Virginia residents and others can get past the short- and long-term consequences of doing so. For instance, taking out a secured credit card can help someone rebuild his or her credit score and history after a bankruptcy. It may also be beneficial to continue paying a mortgage or auto loan after filing.

How to obtain financial assistance for medical bills

Some Virginia residents struggle to pay medical debts regardless of how much money they make. In fact, the Federal Reserve found that nearly half of respondents to a survey said that they received such a bill in the past year that they can't pay. However, those who are in this position could be eligible for financial assistance. Charity care could be available to those who make $100,000 a year and who already have insurance.

The most common reasons people file for bankruptcy

Time and money are two life aspects that are always interacting with us moment-by-moment. The decisions we make are easily influenced by the amount in our bank account or available line of credit. The thought of facing your credit score or really looking at how much debt you have can induce a tremendous amount of fear and anxiety.

How to build credit after bankruptcy

Virginia residents who have filed for bankruptcy, might wonder if they will be able to reestablish a quality credit rating. A survey by Lending Tree found that its users who had filed for bankruptcy within the previous three years were offered mortgages at an average of just 19 bps higher than people without a bankruptcy on record. Furthermore, just two years after bankruptcy, most people had achieved a credit score of at least 640.

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Michael D. Hart, P.C.
19 Church Street Southwest
Roanoke, VA 24011

Phone: 540-627-6520
Fax: 540-342-7655
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