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Michael D. Hart, P.C.
Helping You Move Forward Free Of Financial Problems
540-627-6520
Areas & Topics

July 2020 Archives

Can you take out a personal loan after a bankruptcy?

One of the things that you may be interested in doing after you go through bankruptcy is getting a personal loan. If you want to take out a loan to get a vehicle, to start a business or for other purposes, having a bankruptcy on your record could impact you negatively.

How can you negotiate with creditors?

When you're struggling and think you may need to go through bankruptcy, one thing to try first is debt settlement. Negotiating your debts and settling them for less than you owe is a good way to reduce the amount you have to pay. It's a great way to eliminate debts if you're able to pay off those debts in lump sums, too.

Virginia bankruptcy: Things you should know about the means test

If you're facing financial distress in 2020, you're definitely not alone in your struggle. Finances generally fluctuate at various times in a person's life. Perhaps, you've had years where you're feeling financially stable and hopeful for the future, and other times where you've encountered challenges just trying to stay afloat. If you're considering filing for Chapter 7 bankruptcy, you'll want to learn more about means testing.

If you have medical debt, bankruptcy could help

Even if you planned well, had insurance and were prepared for an emergency, the truth is that health care costs are high and may seem unpredictable. Americans spent around $3.6 trillion on medical care in 2018 alone, so it's not a surprise that so many people struggle with medical debt.

Understand how property is handled in a Chapter 7 bankruptcy

One of the questions that comes up often when a person is facing a bankruptcy is what assets they'll be able to keep. There are some very specific federal guidelines that you should know if you're considering a Chapter 7 bankruptcy. This is the form of bankruptcy that doesn't require you to make payments to the bankruptcy trustee, but any nonexempt assets that you have are liquidated to pay off creditors.

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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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