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May 2013 Archives

Tips for choosing your bankruptcy lawyer

So, you have made the decision to file for personal bankruptcy. You know there are a lot of bankruptcy attorneys out there, but you might feel uncertain about the process of finding a qualified lawyer. After all, it can be difficult to ask friends and family members about such a touchy subject. Experts weigh in on how to find the best bankruptcy attorney for you in the Washington, D.C., area.

Graduates crushed under massive debt burden

Think you are going to graduate debt-free? Think again, say financial experts. Today's college graduates are increasingly seeking debt relief because of their whopping bills, many of which come due not long after they doff their mortarboards. Graduates are accumulating massive debts from student loans, credit cards and other expenditures, leaving the average 2013 graduate indebted to the tune of $35,200 or more.

Young Buck files for personal bankruptcy

Rapper Young Buck, popular among the Washington, D.C., music crowd, is concluding his personal bankruptcy proceedings from prison. The man is serving a term for gun possession, according to media reports. The trustee in the case has filed a comprehensive payback plan, which ultimately raised nearly $400,000 to pay off the man's creditors. Most of the creditors are not being paid back in full for the debts, while some will not receive any money.

SportsQuest owner bankrupt

The creator of a sports megaplex in Chesterfield County, near Washington, D.C., has filed for Chapter 7 bankruptcy. The man, whose personal bankruptcy petition was filed in area courts in late April, lists more than $2 million in financial liabilities while claiming a meager $579,000 in assets.

Settled debts can haunt your credit report

If you have settled debt through credit card companies, you may know that the actions you take with your lenders will show up on your credit report. Even though you eventually settled the debt, however, your credit history could still show a mark for 120-day delinquency. Experts in the field of debt relief say that while you cannot expunge these credit history problems for seven years, there are a variety of steps you can take to start rebuilding your score.

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