• Pull out a copy of your credit report: You’re entitled to get a free copy of your credit report from any of the three credit reporting agencies. Ask them to send you a copy of your credit report in your mail box so that you can easily check the report in order to identify the erroneous information that may be dropping your score. Though bankruptcy is already there in your report, you should still try to locate the errors that can help boost your score.
• Dispute errors and report the bureau: When you find an error or a negative listing that is dropping your score, you should immediately dispute it so that you don’t have to suffer for the mistakes that are committed by others. Mark all the places with red and send back the edited copy to the credit bureau so that they can edit it and send you back the fresh copy.
• Get multiple quotes from lenders: As you’re already on the flipside with the poor credit score due to bankruptcy, you shouldn’t settle with the only loan that you come across first. There are very few lenders who will be eager to lend funds to a person with a poor score and this is the reason why you should get multiple quotes from multiple lenders and choose the one that suits your budget and affordability.
• Try to choose the best loan in the market: The best loan in the market actually means the one with the lowest interest rate, monthly payment and closing costs. There are many people who only take into account the interest rates only while opting for yet another refinance mortgage loan but this is a mistake that should be avoided. You should assess your affordability and then choose the loan with the lowest closing costs.

Therefore, when you’re a prospective borrower of a refinance loan, you should take the above mentioned steps so that you can get a loan at a covetable cost despite filing bankruptcy. Just make sure that you repair your credit score by repaying your unsecured debt obligations so that you can attain a reasonable rate. Get the best refinance mortgage rates before taking the plunge.

Under the Federal Debt Collection Practices Act of 1977 (amended seven times since then through 2006), debt collectors are prohibited from:

•          Attempting to contact you in any way (by phone, in writing or in person) once you document in writing that you want contact from that debt collector to stop
•          Telephoning you before 8 a.m. or after 9 p.m.
•          Lying about the negative repercussions of failing to pay what you owe
•          Discussing your debt with another person
•          Lying to, threatening or tricking you
•          Using inappropriate language in any contacts with you
•          Visiting your residence more than once a month (follow-up visits for legitimate reasons may be considered allowed)
•          Entering your residence, unless invited  to do so by an adult member of your household
•          Staying at your residence once you ask them to depart
•          Attempting to contact you if you have documented to them in writing your belief that the amount alleged to be owed is incorrect; should the debt collector provide documentation that the alleged debt is correct, then the debt collector legally may start contacting you again to recover the amount owed.
•          Contacting you at your workplace (whether by telephone, in person or in writing) if your employer forbids such contact

Consider meeting with a qualified Virginia bankruptcy attorney to file for Chapter 7 or Chapter 13 personal bankruptcy.  Should you file for personal bankruptcy, then debt collectors must cease all attempts to contact you.

Does Virginia State law afford me any additional protection against debt collectors?

While many states do have specific legislation to protect citizens against unfair practices by debt collectors, Virginia does not. Virginia Code Section 18.2 – 213, however, does state:

“Any person who, for the purpose of collecting money, shall knowingly deliver, mail, send or otherwise use or cause to be used any paper or writing simulating or intended to simulate any warrant, process, writ, notice of execution lien or notice of motion for judgment shall be guilty of a Class 4 misdemeanor.”

Does declaring personal bankruptcy compel debt collectors to stop contacting me?

Yes. Should you file for personal bankruptcy, then notify each creditor and debt collector in writing. Under federal law, both creditors and debt collectors must stop all attempts to collect debts covered under the bankruptcy filing.  Should you take out any personal loans after filing for bankruptcy and not pay them back as agreed, debt collectors have every right to contact you in attempt to collect on that new personal loan.

What exactly is a debt collector under federal law?

Debt collectors can be:

• A person, company or agency retained by a creditor to collect a debt
• Creditors collecting on their own debts but using a different name

Creditors who attempt to collect their own debts under their own name are not considered debt collectors.

Virginia Governor Timothy Kaine and the Foreclosure Prevention Task Force have found an ally in Freddie Mac, which has agreed to help the Virginia Foreclosure Prevention Task Force offer complimentary mortgage clinics to homeowners in the East Coast state.

With foreclosures and bankruptcies on the rise, you need all the information at your disposal in order to save your home. If you are facing foreclosure and or bankruptcy, it’s important to have all that information, including speaking with a qualified bankruptcy attorney near you. These are major legal issues, you need to know all your options.

According to several surveys, military families are hard hit during difficult economic times. In 2004, one-third of military families reported having difficulty in paying their monthly bills. One in five families applied for food stamps or for WIC (Women, Infants, and Children) government aid. Charities like Money Management International which aid these families saw a doubling in cases seeking assistance in the early months of 2007. Another study shows military personnel are three times more likely to go for a cash or payroll advance loan. These factors contribute to the more than 16,000 military families filing bankruptcy each year.

San Antonio based financial company, USAA, reports seeing an increase in mortgage delinquencies among military families. In Virginia alone, the communities surround the major military bases in Norfolk, Triangle, and Woodbridge have seen foreclosures rise over 400% statewide in the first quarter of 2008 compared to 2007. The national average rise in foreclosures for the same time period was 59%.

Many families don’t share the full story to their loved ones to save them worry and to let them focus on their jobs overseas. However, if you are one of the many facing foreclosure or bankruptcy there is something you can do. A Virginia bankruptcy lawyer can talk with you about your financial situation and available options. For military families, the Servicemembers’ Civil Relief Act and the Hope Now program can help save your home and other provisions to the bankruptcy laws apply to military personnel. New provisions were passed by the Senate in 2008 to give more time to active duty military families to deal with financial situations. A bankruptcy lawyer can help you find the answers. This doesn’t have to be a battle you fight alone.