Virginia
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Will a Loan Modification Hurt My Credit Score?
If you fall behind on your mortgage, you have options, but you must be proactive. One of the best ways to get back on track with your mortgage is loan modification. But will a loan modification hurt your credit score? Loan modification can hurt your credit score The biggest negative effect to your credit from…
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Retain or Surrender Secured Debt in Bankruptcy?
Secured debt in bankruptcy is treated differently than unsecured debt. In a Chapter 7 bankruptcy, loans securing property may exempt that property from liquidation. Chapter 13 bankruptcy, on the other hand, allows you to repay over time any defaulted amounts on secured loans. Often the most important question revolves around whether to retain or surrender…
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Six Common Foreclosure Mistakes
If your mortgage lender commences foreclosure proceedings, educate yourself about the process so you can chart the best way forward for you. You have options — but do your best to avoid the most common foreclosure mistakes. Believing that once the foreclosure process starts, you will lose the property. Not so fast. Your lender must…
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How Much of My Paycheck Can a Creditor Garnish?
Sometimes an employee doesn’t even know that a creditor is seeking to garnish until they see a change in their paycheck. At that point, you should seek advice of legal counsel. So how much of my paycheck can a creditor garnish? The garnishment process Before a creditor can garnish your wages, that creditor must obtain…
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Will Unpaid Student Loans Affect My Credit Score?
As of 2024, total student loan debt in the U.S. has reached $1.75 trillion in total student loan debt, including federal and private loans. The average student borrower graduates with about $29,000 in student loans on average. The number of college students taking out loans has tripled in just the last decade. Yet most students…
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Foreclosure Assistance in DC, Maryland and Virginia
Seek foreclosure assistance if you are facing a foreclosure auction in DC, Maryland or Virginia. If you want to keep your home, act fast while you still have options. Stop the foreclosure process In some cases, it makes sense to allow a foreclosure auction to take place. If you no longer want to keep the…
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The Holidays Are Over, Now Get Rid of Your Debt
So you got that little something you wanted and you ate too many sweets. And maybe you were a bit too generous this year. But now Christmas is over. You saw the ball the drop, and it’s a entirely new year. The holidays are over, now get rid of your debt. Make becoming debt-free your…
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Surviving Furlough During the Government Shutdown
The first known use of the word “furlough” dates to 1631. The word is from the Dutch word “vorloffe,” meaning “permission” or literally “for leave.” The modern non-military definition of furlough is “a period of time when an employee is told not to come to work and is not paid.” Since 1976, there have been…
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Top 5 Foreclosure Defenses in Virginia, Maryland and Washington, DC
If your mortgage company forecloses, you may have defenses. Virginia and Maryland are nonjudicial foreclosure jurisdictions, which means you must sue the mortgage company to raise these defenses. But the District of Columbia is a judicial foreclosure jurisdiction. In DC, you can raise these defenses in your Answer to the Complaint for Judicial Foreclosure. Here…
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Don’t Wait Until You Hit Rock Bottom to File Bankruptcy
You don’t have to be penniless to file bankruptcy. You don’t have to have your back against the wall. And you don’t have to lose everything to get a financial fresh start. Don’t wait until you hit rock bottom to file bankruptcy. Don’t deplete your savings trying to avoid bankruptcy 57 percent of Americans have less…
