Chapter 7 bankruptcy may help Virginia residents and others seek relief from debt. The process begins by filing paperwork that outlines the debts and assets a person has. Debtors may also be required to produce pay stubs and other financial information to the...
Month: February 2019
Medical debt still driving bankruptcy despite ACA
Spiraling health care costs and the overwhelming debt to which it can condemn families been a problem in the United States for many years, and Congress took action to address the issue by passing the Affordable Care Act in 2010. However, a recent study published in...
Bankruptcy can help forestall foreclosure
The subprime mortgage crisis is still fresh in the memory of many Virginia residents. Thankfully, the nation has recovered from the various factors that aligned to create that situation. However, it is not unusual for families to be living paycheck to paycheck and one...
Warning signs your finances are on the verge of disaster
Hindsight may be 20/20, but why wait until your finances have collapsed to see the warning signs of what got you there in the first place. When you know better, you can prepare for the future and making it secure.Many good people find themselves struggling in serious...
The debts that can be discharged in bankruptcy
Virginia residents who are planning on filing for bankruptcy have different methods available. For those with a steady income, a Chapter 7 case involves liquidating assets and using the money to repay creditors. A Chapter 13 case involves reorganizing current debts...