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Bankruptcy exemptions in Virginia will get a little better effective July 1, 2011.

HB 1422, sponsored by Del Dave Albo (R-Springfield) increased the exemption for motor vehicles from $2,000 to $6,000.  It also exempts one family firearm valued up to $3,000.

Bankruptcy exemptions are important because the bankruptcy trustee is supposed to take and sell your non-exempt assets and use the money to pay creditors.   The last major revision of this law had been in 1992, and 20 years of inflation had taken a toll on what people are allowed to keep.

The purpose of exemptions is to allow people (who maybe losing their home to foreclosure), to keep enough to be able to start over.  A $6,000 motor vehicle exemption will about cover a seven year old Chevy Malibu–a reasonable car for someone to get to work or the grocery store and feel safe with the kids.

Virginia has a “homestead exemption” of $5,000.  That  goes back in V

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Tags: Bankruptcy Exemptions, July

paminsar asks the question: i have applied for a hsbc credit card last Dec.2008 but until now it is not yet delivered, i called hsbcs hot line several times but they keep on saying that its the courier problem, what happens to my card? is there a possibility that it will be stolen? what would i do about it?

Answer:If you suspect your credit card has been stolen, then check your credit report.

Credit cards can take a while to arrive. Typically, to save money on postage, they are sent out in batches to different areas. So, they wait until they have enough cards in your area to send yours. (Many times youll see, Allow 6-8 weeks for delivery.) Also, remember that December has a lot of holiday days. So there will be little activity during that time.

Typically, credit card companies offer a premium service for faster delivery. Next time, if you need the card quickly, use the premium service.(Credit)

Tags: Credit Card, Delivered, Hsbc Credit, Hsbc Credit Card

Bad credit score loans is quiet popular in United Kingdom because most of the people are suffering with this problem in UK. It is also known as bad credit loans, loans for bad credit and loans for people with bad credit history. This loan option has been designed especially for those people who got CCJs, arrears, defaults, bankruptcy, IVA and late payments due to unavoidable circumstanced of past. Generally, people apply for this finance when some unexpected expenses knock their door, like home improvements, debt consolidation, car purchase, medical bill, travel expenses, business, education etc.

Bad credit score loan is available in two categories, like secured loans and unsecured loans.

Secured loan – It is a best financial service for homeowners because they get big amount at low interest rate and APR. However, they have to take the risk of their property. B

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Tags: Credit, Credit Score, Credit Score Loan, Score Loan

It doesn’t interest me what you do for a living. I want to know what you ache for?

Will you dare to dream of meeting your heart’s longing?

That is what matters the most!

Tags: Matters

The average VantageScore credit score fell to 748 in August (latest month available), as measured by credit bureau Experian.

However, it has only dipped eight points since 2007, just before the housing boom turned to housing bust.

The average credit score was 755 in August 2008 and 750 in August 2009.

Despite all the recent turmoil in the credit markets, which you think would have lowered credit scores even more, consumers have taken an active role in reducing debt, resulting in an improvement in their credit scores.

This has countered some of the negative effects related to foreclosures, short sales, and other derogatory events of late.

Meanwhile, the latest data from Fico (October 2008), the creator of the Fico score, revealed that the average Fico score is 713.

Unfortunately, this data isn’t very up-to-date, so it’s hard to say what impact the financial crisis has had on Fico scores.

Either way, you would have to assume that both the VantageScore and Fico score algorithms will be updated as a result of the latest crisis.

Though the updates are unknown, I would guess that because of all the foreclosures and related negative actions in recent years, credit scores for those who avoided all the problems will rise, while those who made missteps won’t be punished as badly as they may have been in the past.

Tags: 748, Credit Score, Vantagescore Credit, Vantagescore Credit Score