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June 2017 Archives

Handling finances before a divorce

For Virginia couples who are ending their marriage, the manner in which they should handle their finances with a divorce on the horizon may be a cause for concern. However, there are things they can do to prepare for the process.

High deductible health insurance and medical debt

More Virginia residents might be using a high deductible health insurance plan than they were five years ago based on a study conducted by the National Center for Health Statistics. The study defined "high deductible" as a plan with an average deductible of $1,300 for a single person or $2,600 for family coverage. Between 2011 and 2016, the number of people aged 18 to 64 who were on such a plan rose from 26.3 percent to 39.3 percent.

Downsides of credit card debt

Many Americans accumulate credit card debt at some point during their lives. The average amount of credit card debt in U.S. households is $5,700. This may not seem like a huge amount, but it can have long-term consequences that Virginia cardholders may need to be aware of.

Bankruptcy ruling leads to confusion

Virginians who are considering filing for Chapter 13 bankruptcy might want to be aware of a recent Supreme Court decision that concerned the ability of debt collectors to file stale claims. The Supreme Court's ruling has confused attorneys around the country and may lead to additional litigation in the future.

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