Credit cards can be effective tools when Virginia residents are planning a vacation. This is because many cards offer cash back, airline miles or other perks that can be used to pay for a hotel or a rental car. However, using a credit card can also make a vacation...
Chapter 13 Bankruptcy
Credit card debt may be harder for women to repay
Credit card debt levels continue to rise in Virginia and throughout the country. The average credit card debt balance is $5,700, and women tend to have more difficulty paying down their balances in full. There are many possible reasons to explain why this may be the...
FTC reveals entire industry behind robocalls
A recent crackdown by the Federal Trade Commission revealed that robocall operations out of Virginia and other states were tied to large illegal organizations. This most recent action by the FTC targeted groups that tried to sell fake products, multilevel marketing...
The pros and cons of having multiple credit cards
It isn't uncommon for Virginia residents and others to have more than one credit card. In fact, there can be a variety of benefits to having multiple cards. Those benefits include having more money to handle an emergency situation and a greater chance of having a...
Chapter 13 bankruptcy can help with the worsening debt crisis
For Virginians and people across the nation, debt is reaching critical levels. Student loans are perceived to be the culprit for the debt problems many Americans face, but there are other reasons. For example, people rely on credit cards to a troubling degree. The...
How patients can work to diminish medical debt
Lots of Virginia residents find themselves facing insurmountable debt. In many cases, that debt arises due to medical bills. Even insured patients can rack up thousands of dollars in medical bills if they need pricey specialized treatment, expensive prescription drugs...
Congress moves to change bankruptcy rules for student loans
Virginia residents who are burdened by overwhelming debt may seek relief by filing for bankruptcy, but student loans are generally not dischargeable under a Chapter 7 or Chapter 13 petition. However, that may soon change as a bill was introduced on May 9 that would...
Credit card companies report rise in charge-offs
Some consumers in Virginia may be struggling more with credit card debt than they were in the past. Bloomberg Intelligence reports that in the first quarter of 2019, the charge-off rate increased to 3.82%. These are loans that credit card companies do not expect to...
Improving credit score possible after bankruptcy
The impact of a bankruptcy on a person's credit score depends on a number of different factors. There are cases where a Virginia resident who is struggling to pay debts actually sees an improvement in his or her credit score after filing for bankruptcy. Credit scores...
How to fix the bankruptcy system
March and April are prime months for bankruptcy as people commonly use their tax refunds to pay for the opportunity to do so. Virginia residents may be required to wait until they receive their tax refunds because it is the only way that they can afford to file at...