Debt Free News

Debt Consolidation for Town

By folding the town of Culpeper into the county, the county is now taking on the additional debts that the town has in addition to everything else. During the May 6th Town Council Election, they discussed the pros and cons of bringing the town into the county – as they only have eight more months remaining to come up with a consolidation agreement.

The town and numerous lawyers have been working on the consolidation plan, without an end in sight. They want to be able to put the proposal before the voters in the November General Election, but are aware that this might not happen the way things are going.

The mayor has said that they are trying to work out the details of the debt consolidation, as it has been supported by 1,000 of the town’s voters. However, with the Charter of the town going away, some are having second thoughts.

But the town has a year to develop the consolidation agreement, which gives them until January 17th of next year, but first it must be approved by voters. They have hired an out of town attorney at $342 an hour to help them, but that is only adding to the debt consolidation mess.