Virginia residents who have filed for bankruptcy, might wonder if they will be able to reestablish a quality credit rating. A survey by Lending Tree found that its users who had filed for bankruptcy within the previous three years were offered mortgages at an average...
When people struggling with debt in Virginia consider their options for debt relief, bankruptcy is usually investigated. Unfortunately, many people who are considering taking this step may find it difficult to actually begin the process due to financial constraints.In...
For borrowers struggling to pay back debts, harassment from collection agencies only aggravates the problem. Unfair collection practices make victims feel helpless and humiliated. However, borrowers and victims of unfair debt collection have rights.Debt collectors are...
Those in Virginia who are thinking about filing for bankruptcy should know that the process can do significant damage to a credit score. However, it is possible to minimize the damage over the long-term. By taking out a secured credit card or a credit builder loan, a...
Credit card debt declined significantly during the Great Recession but that trend appears to be over. According to data recently compiled by WalletHub, Virginia families now have as much debt as they did prior to the recession. This means more people might be...
Virginia residents who have student loan debt are generally unable to discharge those obligations in bankruptcy. While there is a provision for discharging these types of debts if they cause "undue hardship", this is a term that has never been clearly defined, and...
Chapter 13 bankruptcy is a legal process in which debtors use their disposable income to pay off their debts. Virginia debtors who are in some stage of the Chapter 13 bankruptcy process may find that it is possible to purchase a new vehicle or keep the one that they...
There were 844,495 bankruptcy cases filed in 2015 in Virginia and throughout the country, and 97 percent of those cases were filed by individuals. Those individuals had a median income of $34,392 and median expenses of $30,972 when they filed. In the past, those who...
Federal Reserve data indicates that credit card debt in the United States passed the $1 trillion mark in 2017. This may have implications for the financial health of Virginia residents and others. A study by CreditCards.com sought to rank the 25 most populous cities...
Virginia consumers who have ever filed for bankruptcy or are considering it might assume that it ruins their chances of ever having good credit again. But in actual fact, there is a time limit for bankruptcy to remain on a person's credit report, and when it is...