Virginia consumers who are struggling to make credit card payments might discover that their issuer has sold their debt to another company. For example, earlier in 2017, Credit Shop, Inc. purchased $1.6 billion in Barclaycard account balances. Often these purchases include subprime accounts and those that have become delinquent. To earn income from the acquired debts, credit companies start pressuring customers to make payments.
What happens to child support following emancipation
If a Virginia parent is required to pay child support, they are usually responsible for payments until their situation changes or the child becomes emancipated. A child usually becomes emancipated when they reach age of majority, which is 18 years of age in the state of Virginia.
How to keep children safe after a divorce
If Virginia custodial parents in Virginia feel as if their children are in danger when around their ex-spouse, it is an issue that should be raised. In any child custody matter, the law places a premium on meeting the best interest of the child. Typically, a judge will also investigate allegations of domestic violence or any other information that may be relevant before granting custody or visitation to a parent.
Credit reports and Chapter 13 payments
When Virginia residents seek relief from overwhelming debt, bankruptcy is often an option. In situations where the individual or couple filing for bankruptcy has a steady income as well as property that they would rather not lose, Chapter 13 bankruptcy may make sense. In this type of bankruptcy, the debtor enters into a court-approved repayment plan for a period of three to five years. Once the plan is completed, any unpaid debt is discharged.
Child support and disability issues in Virginia
If someone is paying child support and becomes disabled, they are likely to end up with a smaller child support obligation. Child support obligations are tied to a person's income, and many individuals who are suddenly faced with disabilities see their ability to work reduced.
Common misconceptions about filing for bankruptcy in Virginia
When someone has more debt than they can pay off, filing for bankruptcy may be the best answer. Unfortunately, many people may put off filing because they are afraid that they will lose all of their belongings or never be able to build back their credit. While there are some potential downsides to filing for bankruptcy, the reality is that there are also a lot of misconceptions about this debt relief option.
