What is a debt consolidation program? There are many companies who promise to consolidate a person’s debts and negotiate settlements with creditors through a debt consolidation program. Often, the agreement with the debt consolidation company involves an individual...
What is a Warrant in Debt? Under Virginia law, a creditor can take you to court to collect money that is owed. Generally, the document a creditor will file with the court is a warrant in debt. Creditors do this to collect unpaid debts. This lawsuit is a civil case...
Can an unpaid debt impact my house? Yes. Under Virginia laws, an unpaid debt, such as a medical bill, credit card debt, or a balance owed for an old car, can become attached to your home. If a creditor gets a judgment against you for money owed, the debt can become a...
What happens if you fall behind on your mortgage payments? If you fall behind on your mortgage payments, your mortgage company can initiate foreclosure proceedings. This means that your mortgage company can begin working toward foreclosing upon your house. At a...
When are creditors allowed to garnish your wages or funds in your bank account in Virginia? A creditor can garnish your wages or funds in your bank account to collect on an unpaid debt after the court has entered a judgment against you. A judgment is an order entered...
Can a debt you owe be sold to a different company without your permission? Yes. A creditor can transfer the debt you owe them to another entity without your permission. It is common for a creditor to transfer an unpaid debt to a debt buyer. Following the transfer,...
