A person who is struggling to pay their bills because of high payments due on credit accounts and medical bills might opt to pursue a bankruptcy. For people who have an income, a Chapter 13 bankruptcy might be the most appropriate option.When you file for a Chapter 13...
When you realize that you can't pay your bills, you might start to look at ways to make ends meet. The downturn of the economy may mean that you don't have all the options at your disposal that you might have previously had. For some people, sudden job loss or...
Making the choice to file for bankruptcy is not an easy one to make. If you find yourself in a position where this is necessary, you are probably dealing with past-due balances and debt you can no longer manage on your own. Bankruptcy offers overwhelmed consumers the...
Some Virginians are under extreme financial strain now in light of the COVID-19 crisis. One of the types of debt that they hold that could push them into bankruptcy is medical debt. Across the United States, nearly one-third of Americans are in medical debt, and half...
People in Virginia may have always been under the impression that filing for bankruptcy could have a catastrophic effect on their future even though their debt has been discharged. However, researchers now believe that one of the possible effects, not being able to...
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...
A Virginia homeowner who takes out a home equity loan is said to have obtained a second mortgage. The home equity lender is considered to have a secondary position on the home's title. However, that lender can still foreclose on a borrower who fails to make payments....
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...
Do you have concerns about what bankruptcy could mean for your personal property? Are fears regarding the loss of your important assets and things you need for daily life holding you back from making a decision that could positively impact your financial future? If...
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...