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February 2017 Archives

What may happen to a trust in a divorce

Virginia residents who are getting married and who are the beneficiaries of a family trust might want to check the terms of that trust to find out its status in the case of a divorce. With a third party trust, even if it is intended only for one individual, the other spouse might have a claim on it.

Bankruptcy and auto loan deficiency

A new vehicle can quickly depreciate in value, and the owners may find themselves owing more on the balance than what the vehicle is worth. Virginia residents who still owe money on a loan for a vehicle that has been repossessed or voluntarily surrendered may be able to have the balance discharged in bankruptcy.

Making decisions about IVF embryos during a divorce

When Virginia couples decide that it is time to start a family, they may turn to in-vitro fertilization in order to conceive children that are biologically related to them. However, IVF can take a long time, and the stress of trying to start a family can potentially cause marriages to fail. In this case, the couple will have to make hard decisions regarding the frozen embryos that were created.

The financial challenges of the millennial generation

Much has been written about the financial challenges faced by members of the millennial generation in Virginia and around the country. The media often focuses on student loan debt when covering this issue, and studies have found that even millennials earning $75,000 per year or more sometimes fear that they will not be able to pay off their tuition bills. Research reveals that two out of three millennials have at least one source of long-term debt, and many of them make basic financial mistakes that can make escaping debt far more difficult.

Most collection calls are for medical debt

Many people in Virginia have unpaid medical bills that have gone into collections. According to a recent study by the Consumer Financial Protection Bureau, more collection calls are made for unpaid medical bills than for any other type of debt. After medical debt, the other most common reasons for collection calls are overdue telecommunications bills and utility payments.

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Bowen Ten Cardani, PC

Richmond Office
3957 Westerre Parkway
Suite 105
Richmond, VA 23233

Toll Free: 866-601-7371
Phone: 804-767-6850
Richmond Office Location

Ashland Office
9410 Atlee Commerce Blvd
Suite 2
Ashland, VA 23005

Toll Free: 866-601-7371
Phone: 804-767-6850
Ashland Office Location

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