Some Virginia residents who are struggling with debt may be considering filing for Chapter 7 bankruptcy. One of the major concerns for many bankruptcy filers is ruining credit scores. However, it is possible to rebuild credit after a bankruptcy. People should keep in...
Month: March 2019
Will I ever be able to buy a house after bankruptcy?
Many people worry that bankruptcy will forever disrupt their dreams of homeownership. However, purchasing a home after bankruptcy is not impossible, though it may take some time. The length of time will depend on a number of factors including what type of bankruptcy...
Income and debt limits for filing chapter 13 bankruptcy
Virginia residents may be interested in knowing that although there is no income limit set in order to file for Chapter 13 bankruptcy, there is a limit to the amount of debt one can have. For a person to be able to file for Chapter 13 bankruptcy, their debt must be...
Pros and cons of a Chapter 7 bankruptcy
Virginia consumers who are struggling with debt might wonder whether they should file for Chapter 7 bankruptcy. In order to file for Chapter 7, they must pass what is known as a "means test". This means that their income must be below a certain amount, which is...
Young adults owe more than $1 trillion to creditors
Young adults in Virginia and across the U.S. are in more debt than they've been in since 2007. In fact, Americans between the ages of 18 and 29 owe a whopping $1.05 trillion, according to a new report from the New York Fed Consumer Panel and Equifax. However, before...