Medical expenses and overwhelming credit card debt can paint Virginia residents into a financial corner. If you feel you have few options, bankruptcy can help you get your finances under control and move forward with the rest of your life. According to the Virginia...
If you file for bankruptcy in Virginia, you can keep certain personal property. State law outlines bankruptcy exemptions that include a portion of home equity and other items. Review the rules about what assets you can retain in a Virginia bankruptcy filing to help...
Many residents of Northern Virginia avoid filing a petition for bankruptcy because they are afraid that the court will seize all of their assets, including their home. This belief greatly overstates the power of the bankruptcy court and distorts the exact working of...
Filing for Chapter 7 bankruptcy or Chapter 13 bankruptcy is a big step. It is not something you should do lightly before getting all the facts. Which form of personal bankruptcy is right for you? What is the process like, and what long-term effects should you expect?...
Filing bankruptcy of any kind is often a hard pill to swallow for many. Generally, by the time a person has made up their mind to file, the debt battle has been fought for many hard years. Whether due to unforeseen circumstances, bad choices, or some catastrophic...
According to a 2018 study, the average person in the United States has $38,000 in debt not including a mortgage. Virginia residents who are unable to pay a debt balance may receive phone calls from creditors or agencies. While it may be stressful to receive those...
Tens of millions of people in Virginia and around the country are struggling with overwhelming debt. Many Americans begin taking on debt as college students and continue to borrow throughout their lives, and making the monthly payments on their loans and credit card...
People in Virginia who have student loan debt are not alone. The total student loan debt in the United States is $1.59 trillion. Unfortunately, many people are struggling to pay off these loans, and they usually cannot discharge them in bankruptcy. However, there are...
Virginians who lost their homes through short sales or foreclosures were previously allowed to exclude up to $2 million in forgiven mortgage debt before 2018. However, the provision that allowed people to exclude forgiven mortgage debt ended in 2017. This means that...
Medical treatment can leave people in Virginia struggling with massive quantities of medical debt. People across the country are facing costly medical bills that they cannot afford to pay, even when they have health insurance in place. In fact, medical debt is the...
