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To obtain a lien on real property in the state of Virginia, the judgment creditor must "docket" the lien in the public records office of the city or county where that property is physically located. Once the lien is docketed, the creditor files a "creditor's bill in equity" in that jurisdiction, which will require the chancellor to appoint a ...
A debt buyer is a company, sometimes a collection agency, a private debt collection law firm, or a private investor, that purchases delinquent or charged-off debts from a creditor or lender for a percentage of the face value of the debt based on the potential collectibility of the accounts. The debt buyer can then collect on its own, utilize ...
The last instance of such a default took place during the Great Depression, in 1933, when the state of Arkansas defaulted on its highway bonds, which had long-lasting consequences for the state. [1] Current U.S. bankruptcy law, an area governed by federal law, does not allow a state to file for bankruptcy under the Bankruptcy Code. [2]
This is because of the statute of limitations on debt. However, the terms of these laws vary, by state and by type of debt. For example, federal student loan debt is not covered by the statute of ...
This 33-year-old Virginia man is $63K in debt, owes the IRS and can't even remember a recent $742 Best Buy purchase — Caleb Hammer gave him some blunt advice. Vishesh Raisinghani.
U.S. state laws on fair debt collection generally fall into two categories: laws which require persons who are collecting debts from consumers to be licensed, registered or bonded in order to collect from consumers in their states, and laws that protect consumers from specific unfair practices by debt collectors, which may include collection agencies and sometimes original creditors. [2]
Higher U.S. debt gives the American government less flexibility because there are legislative limits on how much the government can borrow. This is why there has been so much talk in recent years ...
The foremost source of state law is the Constitution of Virginia. It provides the process for enacting all state legislation, as well as defining the powers of the state government and the basic rights of the people of Virginia. The Virginia Constitution has had six major revisions, as well as many amendments.