Chesapeake Debt Relief

Chesapeake is an independent city located in the crowded Virginia Beach-Norfolk-Newport News metro area. It is home to almost a quarter of a million people while the metro area is home to 1.6 million residents. Like much of the area, Chesapeake is a naval town and because of its location on the Chesapeake Bay has a lot of waterfront property and businesses. 

Chesapeake and the surrounding areas have suffered economic hardships and there are a lot of people who are hurting financially even as the area recovers. While the area has great homeownership rates and income levels, the poverty rate for children suggests that there is a lot of poverty and debt in the area.

Call today to talk to a debt specialist who can explain all your debt relief options so you understand them clearly.

The median household income in Chesapeake is $70,176. As of 2020, the minimum wage is $8.00 per hour while a living wage for one adult is considered to be $13.58/hour. Approximately 18% of Chesapeake children live in poverty. For residents overall, 9.6% of all people in Chesapeake live under the poverty level. This poverty rate is lower than the state average of 10.7%.  

Almost three-quarters (70.9%) of people in the metro area hold a mortgage. The median home price in Chesapeake is $280,621 (2020). Despite the high ownership rate, houses are expensive when attempting to buy on the region’s average income. The average rent in Chesapeake averages $1,245 a month.

Chesapeake/Chesapeake/Western Tidewater had about 1,162 homeless people based on 2016 counts.

As of December 2019, the unemployment rate was 3.1%, compared to a state unemployment rate of 2.6%. The state estimates that 6.4% of workers are underemployed. Underemployment is the percentage of civilian workers who are unemployed, employed part-time or are not seeking employment.

Chesapeake residents carry a lot of debt. Chesapeake residents have an average credit card debt of $6,520 (2019). More than 25% of Virginians have medical debt they cannot pay. The average student loan debt is $37,244. 

Debt consolidation and debt settlement are options in Chesapeake. You’ll find more information in the next few sections. 

If you are one of the many people in Chesapeake that need help with debt, there are a number of options. Debt relief in Chesapeake is available from both non-profit and for-profit agencies. 

If you need more help, consider calling Pacific Debt, Inc for more information. Pacific Debt Inc is one of the leading debt settlement companies in the US and we have consistently been named one of the best for years. This year, we earned two #1 rankings for our customer service. We help you understand your options and whether or not debt settlement is your best option. If it is not, we can refer you to a trusted partner who may be more appropriate for your situation.

If you’d like more information on debt settlement or have more than $10,000 in credit card debt that you can’t repay, contact Pacific Debt, Inc . We may be able to help you become debt free in 2 to 4 years and we’ve settled over $300 million in debt for our customers since 2002.

Once you’ve completed our debt settlement program , your financial situation should start to improve. You’ll then be able to take the money you once had to pay towards your debt, and be able to use it for other purposes like saving, investing, retirement, etc.

Pacific Debt, Inc is accredited with the Consumer Debt Relief Initiative (CDRI) and is an A+ member of the Better Business Bureau . We rate very highly in Top Consumer Reviews, Top Ten Reviews, Consumers Advocate, Consumer Affairs, Trust Pilot, and US News and World Report.

For more information, contact one of our debt specialists today. The initial consultation is free, and our debt experts will explain to you all your options.

Virginia’s statute of limitations lays out maximum time periods that debt collectors can take action against a delinquent debt. These statutes of limitations begin on the date that your debt goes delinquent. 

For debts taken out in Virginia, the following are the statutes of limitations for different types of debt.

Virginians are protected against unscrupulous debt collectors. The federal Fair Debt Collection Practices Act (FDCPA) prohibits debt collectors from using abusive or harassing bill collection practices. If you are a victim of any of these actions, you may take legal action against them.

Overall, debt collectors can NOT: 

Debt collectors must:

Bankruptcy is a legal action that can erase most of your debt, and your credit history. It is not an action to take lightly. If you do, you must follow the following steps in Texas.

Persons filing for bankruptcy must: