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January 2018 Archives

What to consider before taking out a 401(k) loan

The average household in America that carries a debt owes a total of $131,431. This includes mortgage debt, and other common obligations include student and auto loans and credit cards The average credit card balance is $15,654 while the average student loan debt is $46,597. Americans have an average auto loan debt of $27,669. One way for Virginia consumers to pay off that debt may be to dip into a 401(k).

Study reveals insights into attitudes about domestic violence

Virginia victims of domestic abuse often look to emergency responders to provide protection in their time of need. However, first responders generally have the same attitudes as other segments of society as it relates to their perceptions of abuse victims. This was the takeaway from a study conducted by Florida State university and University of Windsor researchers.

Credit card debt: Should consumers be worried?

Consumer debt has hit an all-time high, and much of the credit goes to charge cards used by individuals in Virginia and across the U.S. Some consumers may be looking at Chapter 13 bankruptcy filings for relief from overwhelming debt while others might be able to pay off creditors before diving in for another round. The new records in credit card debt agree with other measures of economic stress, including a lack of savings to ride out any unemployment and the ever-worrisome threat of a new recession.

How a 401k may help with debt relief

Virginia residents or others may find themselves in a financial emergency for any number of reasons. One way to possibly get out of that hardship is to apply for a 401k hardship withdrawal. A person may be eligible for such a withdrawal if he or she faces an emergency expense related to a medical issue or a home repair. It may also possible to qualify if making a payment will help the employee to avoid eviction or provides funds to pay for funeral expenses.

Some couples may use spyware, trackers during divorce

A 2012 study by the Justice Department found that around 1.5 percent of all adults reported experiencing stalking compared to 3.3 percent of people who had gone through divorce or separation. Individuals in Virginia and throughout the country may also experience this in the form of electronic surveillance. This could include both GPS trackers and spyware installed on smartphones.

Why divorces surge in January

It seems as if more people in Virginia and around the country file for divorce in January than in any other month. While studies have shown that more divorces are filed in August than in January, there is normally a surge at the beginning of each year. There are several factors that contribute to this.

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