Bad Credit Loan in Virginia
Are you a Virginian resident and having bad credit? Bad credit in Virginia should not stop you from getting the loan you need. Many Virginia lenders specialize in assisting those with bad credit find loans and repair their credit. Even people with bad credit that have been denied loans before can find relief.
Finding a Bad Credit Loan in Virginia
If you live in Virginia you have had problems keeping your credit report in good standing, there is relief out there for you. Virginia bad credit lenders understand how quickly things can get out of hand and locating honest bad credit lenders can be hit and miss. However, with the proper research the right bad credit loan can be found in the state with not much hassle and with too much undue scrutiny.
FHA Assistance with Bad Credit Loans
Even Virginia homeowners with bad credit can apply for lower home loan rates.
Should I borrow from family and friends to pay off my credit card?
Q: I’ve had my hours reduced at work and no longer working overtime. To make ends meet, I’ve been using my credit cards. I have about $30,000 in credit card debt, paying very high interest rate (hovering around 30%). I have five cards. My parents offered to loan me $15,000 from their savings. Can you help me settle my debt? I don’t want to file for bankruptcy.
I get questions like this all the time. Clients wanting to borrow money from family and friends to pay off or settle credit card debts. Usually, the question is prefaced by “I read on Google…” or “My friend told me…” I cringe every time someone says this because I’ve met too many clients who has tried this strategy, failed and comes in to file for bankruptcy anyway. Now, in addition to listing Chase, Discover, American Express, etc. on his or her bankruptcy petition, the client has to add the family member or friend on the petition too.
To make matters worse, if you’ve repaid your family or friend before filing the bankruptcy, he or she may be considered an “insider.” This means that the Trustee in your case can potentially demand the money back from your family or friend! That sure makes for an uncomfortable conversation at the dinner table.
The reason why debt settlements generally don’t work is because it’s difficult (if not impossible) to get all of your credit cards to play ball. You might be able to settle 4 cards, but what if the last card holds out? Or decides to sue you instead? How about taxes? Do you have enough money set aside for taxes on the forgiveness of debt? (That’s right. Whatever the credit cards forgive, will be attributed as income to you.) Don’t make the mistake of throwing your family or friend’s good money after your bad credit card debt.
Debt settlement can work in some cases where the client has 1 or 2 creditors and has lump sum cash to settle.
When Bankruptcy in Indiana Ends in Divorce After All
Sometimes, just too much water has gone over the dam, if you know what I mean.
In 
yesterday’s Bankruptcy in Indiana, I explained that it’s a myth that bankruptcy causes divorce. In fact, I shared (based on close to 25 years as a debt consolidation lawyer offering bankruptcy services in Indiana) what my own experience shows: if husband and wife can stop blaming each other for their problems and resolve to work together to make a new financial start through filing personal bankruptcy in Indiana, the marriage is often strengthened.
Sometimes, though, it’s just too late, or at least the couple thinks it is, and divorce ends up following bankruptcy after all. Full Article…
Household Debt in Canada at Record Levels
Bank of Canada Governor Mark Carney has warned that Canadians are carrying too much debt. On Monday Statistics Canada released a report showing that the ratio of household debt-to-disposable income reached the highest level on record in the third quarter, at 148.1%, which is 6.7 per cent higher than last year. This means, in simple terms, that if you earn $10,000 in disposable income per year, you are carrying almost $15,000 in debt.
That may not seem like a high number, but it’s the highest number in Canadian history, and it’s even higher than the 147.2% level in the United States, which is a scary statistic given the serious economic problems faced by Americans.
So, what does this mean to you?
To start , as I have already commented in the press, I find it amusing that the Bank of Canada, which has kept interest rates artificially low to encourage us to borrow, is now worried that we are borrowing too much.
However, as a bankruptcy trustee I agree that too much debt is a problem. So,
Can I rent after bankruptcy?
If you are considering bankruptcy, it’s natural to wonder – “Where will I live” and “Who will rent to me after I file?” Oftentimes, this conversation will come up with clients who are facing foreclosure. It’s also a topic of conversation with clients who are currently renting, but are considering moving in the near future. Here are some suggestions.
- Consider renting now. Depending on your credit, it may be easier to find a place to rent before your bankruptcy. However, it can make more financial sense to live in your current home – mortgage free for as long as you can and sock away the savings. For many clients facing bankruptcy, the time you can get out of your home living mortgage free will be the only “gain” you’ll ever see from the home. Often times, it can t
Bothered By Bankruptcy Yet To Happen
You might think that all the people who come to see a debt consolidation lawyer offering bankruptcy services in Indiana are those who are having trouble paying their debts. Actually, quite often business owners come to me worried about bankruptcies 
about to happen – to someone else! Full Article…
Guidelines: Residential Loan Modifications on Relief From Stay in Chapter 11 and Chapter 13 Bankruptcy Plans
UNITED STATES BANKRUPTCY COURT NORTHERN DISTRICT OF CALIFORNIA –
GUIDELINES REGARDING RESIDENTIAL LOAN
MODIFICATIONS ON RELIEF FROM STAY MOTIONS
AND IN CHAPTER 11 AND CHAPTER 13 PLANS
(San Francisco and San Jose Divisions)
Introduction
The court has numerous Chapter 11 and 13 cases in which creditors holding first lien mortgage loans secured by borrower occupied principal residences file motions for relief from stay and/or debtors have filed or will file applications to modify the terms of such home mortgage loans. Debtors in Chapter 7 frequently appeal to the court for extension of the automatic stay while they seek loan modifications without appreciating that the court can afford them little relief if the trustee does not oppose relief from stay.
The following are guidelines that are applicable to creditors filing such motions for relief from stay and for debtors who hope to modify their principal residence first lien mortgage loans by agreement with their first lien mortgage lender.1 They do not apply to non-consensual modifications of secured creditors’ liens.
NOTE: CREDITORS ARE NOT VIOLATING THE AUTOMATIC STAY WHEN THEY ARE NEGOTIATING LOAN MODIFICATIONS WITH DEBTORS IN BANKRUPTCY. Mot Full Article…