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Michael D. Hart, P.C.
Helping You Move Forward Free Of Financial Problems
540-627-6520
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March 2020 Archives

Which chapter of consumer bankruptcy is right for you?

Making the choice to file for bankruptcy is not an easy one to make. If you find yourself in a position where this is necessary, you are probably dealing with past-due balances and debt you can no longer manage on your own. Bankruptcy offers overwhelmed consumers the ability to deal with certain types of balances once and for all. 

Bankruptcy may not keep people from getting a job

People in Virginia may have always been under the impression that filing for bankruptcy could have a catastrophic effect on their future even though their debt has been discharged. However, researchers now believe that one of the possible effects, not being able to find a job, is less of a risk than previously thought.

The various ways to pay down debt balances

Virginia residents who have car loans, mortgages or credit card balances are carrying debt. While being in debt isn't necessarily a bad thing in itself, individuals may find themselves unable to repay their creditors in a timely manner. Fortunately, there are steps that individuals can take to get a better handle on their finances. For instance, it may be possible to consolidate multiple balances into one monthly payment by obtaining a personal loan.

Bankruptcy may remove second mortgage liens

A Virginia homeowner who takes out a home equity loan is said to have obtained a second mortgage. The home equity lender is considered to have a secondary position on the home's title. However, that lender can still foreclose on a borrower who fails to make payments. It's possible to strip a second mortgage lien by filing for Chapter 13 bankruptcy.

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

Phone: 540-627-6520
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