When a Virginia reader is dealing with debt, he or she may decide to take a look at the budget, perhaps get a second job and focus on paying down the balance for a few years. Sometimes, this works, and a person can get rid of his or her debt through discipline and...
For some Virginia residents, filing for bankruptcy can be a drastic step. For others, though, it can be a tool that will help them get back on their feet and start over with a clean slate. In addition to finding out if a person actually qualifies for bankruptcy, there...
Bankruptcy could be an effective way for individuals in Virginia and elsewhere to get a handle on their finances. However, there are many factors an individual should consider before doing so. For instance, the type of debt a person has may determine if bankruptcy is...
Debt seems to be a way of life for many Virginia residents. In a perfect world, it would be better to first earn the money before spending it, but there is a general concept of what is considered "good" debt. A mortgage on a home, for instance, falls into that...
The effect that filing for bankruptcy has on a credit report varies based on the type of bankruptcy that is filed. For individuals who live in Virginia, the most common bankruptcy filings are Chapter 7 and Chapter 13. A bankruptcy filing under Chapter 7 might stay on...
One common reason why people hesitate to file for bankruptcy is because they worry about how this action will affect their credit scores. While it is true that a bankruptcy will leave a mark on your credit rating, it is also possible that taking this step will provide...
A recent survey reveals that revolving debt in Virginia grew by more than $1 billion during the second quarter of 2019 and has now reached a worrying $31 billion. The average Virginia household owes $10,480 to credit card companies, which is a figure that is only...
Many Virginia residents struggle to pay their bills each month. While this could be the result of financial irresponsibility, debt is often caused by unavoidable circumstances. For example, debt could be tied to an illness or injury within a household. The reality is...
Military veterans in Virginia may face a difficult time adjusting to their time after service, especially when it comes to financial issues. As a result, many veterans face escalating debt and may be forced to file for bankruptcy. Under a 2019 federal law, the...
Debtors in Virginia and throughout the country who are struggling to keep up with their bills may be able to take advantage of Chapter 7 bankruptcy. However, there are limits to how many times an individual can file. In most cases, an individual will need to wait...