With ban on evictions about to expire and loan companies fleeing Virginia, tough days are ahead for many

Dave Ress, The Daily Press
1 min read
0

Help for Virginians who can’t make rent payments or afford triple-digit interest rates on payday and car-title loans is fading as the pandemic drags on.

Legal aid lawyers are bracing for a flood of eviction cases and stepped-up loan company pressure for repayment in full, instead of the usual practice of refinancing old debt with new loans.

Virginia will slash its cap on interest rates as of Jan. 1, and several loan companies have said they’re pulling out of the state as a result. Those companies will want to get their money first, said Jay Speer, executive director of the Virginia Poverty Law Center.

That's exactly what Fast Auto Loans is telling Kiana Raiford, of Hampton.

Advertisement

Recommended Stories

  • Trump ‘offered to block electric car rollout’ as he asked oil bosses for $1bn

    Donald Trump told oil industry executives he would dismantle Joe Biden’s pro-electric vehicle agenda as he asked for $1bn (£800m) to help return him to the White House, it has been claimed.

  • Billionaire Bill Gates Has 51% of His Portfolio Invested in 2 Brilliant Stocks

    The Bill and Melinda Gates Foundation Trust outperformed the S&P 500 by a wide margin over the past three years, in part because of these two stocks.

  • Can I Use My RMDs to Transfer Money Into My Roth IRA?

    If you're taking a required minimum distribution from an IRA, 401(k) or other tax-deferred account and don't need the money to cover living expenses, where should you stash that unneeded cash? Investors now need to start taking RMDs at age 73 or, if they were born after 1960, at age 75. Depending on the balances of […] The post Can I Use My RMDs to Transfer Money Into My Roth IRA? appeared first on SmartReads by SmartAsset.

  • Ask an Advisor: Can a Nursing Home Take Our IRA? We Have a $100K IRA and a Trust to Protect Our Assets

    My wife and I are elderly. I have an individual retirement account (IRA) worth about $100,000, and we have a trust set up through our children to protect our assets. If one or both of us have to go into … Continue reading → The post Ask an Advisor: Can a Nursing Home ‘Take Our IRA?' My Wife and I Are Elderly. We Have a $100K IRA and a Trust to Protect Our Assets. appeared first on SmartAsset Blog.

  • One More Day, One More Boeing Incident - Senegal Crash Adds to Troubles

    Boeing Co (NYSE: BA) continues to face challenges as a Boeing 737-300 aircraft crashed during takeoff at Senegal’s main airport on Thursday. Air Sénégal flight HC301, operated by Transair with 78 passengers, skidded off a runway before takeoff, injuring 11 people and bringing the facility to a halt. The Blaise Diagne airport said an investigation was underway to determine the cause of the accident, which occurred at around 0100 GM, reported Reuters. Boeing is already under regulatory scrutiny af

  • Dave Ramsey Shares Three Rules For Buying A House

    In today's turbulent housing market, navigating the path to homeownership requires a more strategic approach than ever. With soaring prices and high interest rates, prospective buyers face myriad challenges. But despite the complexities, financial experts like Dave Ramsey offer valuable insights to guide homebuyers through the process. Ramsey shared three rules for buying a house in a May 6 post on X: 1. Be debt-free. 2. Keep enough money in an emergency fund to cover three to six months of hous

  • Here's What Key Metrics Tell Us About Medical Properties (MPW) Q1 Earnings

    While the top- and bottom-line numbers for Medical Properties (MPW) give a sense of how the business performed in the quarter ended March 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

  • A 63-year-old peak boomer said she 'can't even think about retiring' despite having a master's degree and working two jobs

    Cathy, a 63-year-old clerical worker in Minnesota, fears she may never be able to fully retire, even though she's worked her entire life.

  • How Much Cash Can A $300,000 Annuity Generate For Me Each Month?

    Imagine having a reliable source of income you can count on throughout your retirement. That’s the promise of an annuity. These insurance products have been designed to turn your savings into a steady stream of monthly payments. They guarantee peace of mind and financial security in your golden years. Don't Miss: Are you rich? Here’s what Americans think you need to be considered wealthy. Can you guess how many Americans successfully retire with $1,000,000 saved? The percentage may shock you. An

  • 1 Magnificent Dividend Stock Down 25% to Buy and Hold Forever

    A falling stock price has made Agree Realty an even more attractive passive-income investment.