Debt is a problem that can affect anyone. Whether a person has a substantial income or a modest one, unexpected life events can throw off one’s ability to meet their financial obligations. When a Virginia resident cannot manage the payment of their bills and finds...
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Personal loans on the rise, may spur Chapter 7 filings
Virginians often have to turn to financing to accomplish their goals in life. Whether it is buying a house or a car, going on vacation, or even paying other debt like medical expenses, many individuals have to take out one or more of a variety of loans to ensure they...
More older Americans are seeking bankruptcy protection
Financial difficulties can befall individuals of any age or economic class. The sudden loss of a job, the onset of an unexpected medical condition, or other major life events can throw an individual into financial despair. These individuals may struggle to get by,...
Mobile apps may trap Virginians in revolving door of debt
Payday loans were once a popular option for individuals in Virginia looking to bridge the financial gap between a difficult financial situation and their next paycheck. On its face, the intent behind these loans seemed fair. After all, businesses providing these loans...
Chapter 7 bankruptcy and the means test
A lot of Virginians find themselves financially struggling at one point or another. While many of these individuals are able to climb out of debt or easily manage it, others find themselves completely overwhelmed. While many people in the latter category make an...
Medical debt continues to spur personal bankruptcy
Health care has been a focus of the political world for decades. With the passage of the Affordable Care Act in 2010, many were hopeful that more Americans would be able to obtain the medical care they needed at a fair price. Sadly, though, a recently released study...
Can student loan debt be discharged through bankruptcy?
A vast portion of the population is struggling to find a way to cope with student loan payments. Some of these individuals feel cheated, since they felt that higher education was necessary to achieve a better financial outlook, only to be saddled with burdensome debt...
Chapter 7, the meeting of creditors, and the automatic stay
If you are facing serious financial challenges, then you're likely open to all debt relief options. One of the most effective ways to wipe out debt is to file for Chapter 7 bankruptcy. However, before doing so you should do your best to fully understand the process,...
Credit card interest rates up in the U.S.
A trend has been happening here in the U.S. lately that credit card users may not be thrilled about. This trend is a general increase in credit card rates. According to a recent report, the current average interest rate for credit cards in the U.S. is 17.01 percent....
