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...
Chapter 7 Bankruptcy
Court looks at creditor obligations for automatic stays
A Virginia bankruptcy court has ruled that if a creditor does not act to stop a collection activity prior to a person's filing for bankruptcy, this could be considered a violation of the automatic stay. However, the United States Supreme Court will rule on this issue...
How to obtain relief from unsecured debts
Chapter 7 bankruptcy may be an effective way for debtors in Virginia and other states to regain control of their finances. An individual might qualify for Chapter 7 bankruptcy by passing the means test. The means test evaluates a person's income to determine if it is...
Rules for refinancing a home loan after bankruptcy
Virginia homeowners and others throughout the country may be interested in refinancing their mortgages after filing for bankruptcy. However, an individual will likely need to wait at least a year before a home loan can be changed in any way. Those who have an FHA loan...
Conquering debt one step at a time
In Virginia, many older adults wonder if they will get out of debt before retirement. Some have spent numerous years accumulating debt. These individuals confront financial difficulties -- including the reality that they never had the chance to save any money -- by...
Why it is difficult to discharge student loans in bankruptcy
People in Virginia who are struggling with student loan debt might be considering filing for bankruptcy. However, even though Americans have a cumulative student loan debt that is more than $1.5 trillion, most student loan obligations cannot be discharged in...
What patients should know about paying medical bills
Medical bills are a common reason why individuals throughout Virginia and the rest of the country file for bankruptcy. A TD Ameritrade study found that it was the most common reason why a person may consider liquidating a retirement account. However, it may not be...
Getting through the holidays without overspending
It isn't uncommon for Virginia residents and others to do the bulk of their holiday shopping in the first few days after Thanksgiving. This is a time when retailers throughout the nation offer discounted prices and other deals designed to get people to spend money....
Credit cards help pay for the holidays
Virginia residents may not necessarily be against using a credit card to fund their holiday shopping. A study from Creditcards.com found that 51% of respondents who had credit card debt were willing to go deeper into debt during the holidays. It also found that 50% of...
The cost of bankruptcy
Many people living in Virginia and around the country struggle with high levels of debt. While most people genuinely want to pay their creditors, the level of debt could be out of control, and an individual or couple may not be able to ever repay what they owe. In...