For people in Virginia and across the United States, credit card debt can be a severe and escalating problem. Virginia is one of the five states whose residents owe the most on their credit cards. While Virginians tend to have higher median incomes, allowing them to...
According to statistics posted by Yahoo! Finance, consumer debt has increased since 2013 by more than $1 trillion. Total consumer debt in Virginia and across the U.S. is expected to reach $4 trillion before the end of 2018. The total debt numbers break down into $1.04...
Debt is on the rise throughout Virginia and the rest of the U.S. In fact, American consumers owe a total of nearly $14 trillion in debt. While these debts are increasing, credit card defaults are actually dropping. A credit card default will result result in a...
People in Louisiana and across the country are facing increasingly high levels of household debt. In the second quarter of 2018, household debt increased for the 16th consecutive reporting period, reaching close to $14 trillion in collective debt. While $9.43 trillion...
Filing for bankruptcy may have many consequences for those who file in Virginia or any other state. Anyone who files may see their credit score go down, and individuals who file for Chapter 13 protection generally have to make payments to creditors over three or five...
Women in Virginia might carry more student loan, credit card and other types of debt than men. According to Comet Financial, women have over $6,000 more in student loan debt, over $1,000 more in credit card debt and over $1,500 more in auto loan debt. This may in part...
Virginia consumers may believe that credit cards are nothing more than an easy way to get into too much debt. However, they can also be an effective way to cut down on travel expenses or offer other perks. Rewards cards are usually available to those with a credit...
Virginia residents who owe credit card debt are expected to repay it in full. They may also be liable for interest charges and other fees that a lender may charge. While a credit card debt settlement may be one way to obtain relief, it isn't necessarily a debtor's...
According to the Federal Reserve, the total amount of student loan debt now exceeds $1.5 trillion in America. It accounts for 11 percent of collective household debt (this is second behind only mortgage debt). However, student loans are not the biggest creditor for...
Virginia residents who are experiencing financial difficulties may use bankruptcy as a way to get control over their debts. Prior to bankruptcy, courts require the filer to take a credit counseling course. Furthermore, it's necessary to take continuing education...