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...
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...
About four years after the start of the 2008 financial crisis, the U.S. Federal Judiciary pointed out that people were using more non-attorney preparers to file bankruptcy, much as many use tax preparers who are not practicing lawyers.Its website, maintained by the...
Every year, almost one in three Americans who file Chapter 7 bankruptcies are burdened by student loans. However, this kind of debt is not usually dischargeable in Virginia or any other state. When filers have these loans, they usually account for about half of their...
A growing number of people in Virginia are facing escalating credit card balances. According to the New York Federal Reserve, younger Americans traditionally steered clear of credit card debt. Many millennials came of age during the financial crisis in 2008 and became...
The Supreme Court ruled on June 3 that creditors in Virginia and around the country may be held in civil contempt if they pursue payment of a debt that has been discharged in a bankruptcy. The nation's highest court applied an objective reasonableness standard to...
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...
Roughly 530,000 families throughout Virginia and the rest of the U.S. file for bankruptcy each year. The majority of those cases involve debt incurred due to medical reasons, according to a study published recently in the American Journal of Public Health. After...
Some people may think that only irresponsible people have to file for bankruptcy. But this is not true.In fact, many people who file for bankruptcy are rational, sensible people who run into unexpected hardships. Anyone can find themselves in a difficult financial...
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...