When Virginia couples divorce, their finances often suffer. This is because they have had to divide their assets, pay off debts and establish separate households. In some cases, it may become necessary for one of the parties to seek relief from overwhelming debt...
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Month: November 2016
Divorce rate down, marriages up slightly
While divorce appears to be on the decline in Virginia and across the U.S., researchers say that this statistic does not necessarily predict whether an individual couple's marriage will last or not. Some experts claim there is still a 50/50 chance of every marriage...
Bankruptcy court rules pawned vehicle part of estate
Virginia residents who have pawned their vehicles and who then file for Chapter 13 bankruptcy may wonder whether the vehicle will still be considered part of their estate. According to a decision made in a Georgia district court, if the vehicle is still in the 30-day...
Tips for staying out of debt
Although basic living expenses nowadays can be costly, there are ways to cut back and save money. Virginia residents who are struggling to get out of debt and avoid bankruptcy might wonder what is available for them. Debt commonly occurs when spending exceeds income....
Virginia residents and stale debt
A zombie debt is one that is relatively old and may have been sold to third-party debt collectors. As the new owner of the debt can profit from even partial collection of a balance owed, it may contact the debtor in an effort to do so. In some cases, this debt may...
Most debt management plans are not completed
Virginia residents struggling to cope with unmanageable bills sometimes see debt management plans as a way to pay off their debts while maintaining their credit scores, but research indicates that 40 to 45 percent of these plans is abandoned long before they are...