When Texas residents file for bankruptcy, they will be given an automatic stay from creditor collection actions. This may enable them to keep their vehicle while a bankruptcy case is ongoing. However, it may be necessary to pay any outstanding balance owed and keep up...
Month: February 2018
How to reduce the likelihood of medical debt
Texas residents in their late 30s through their early 50s are more likely to have medical debt than any other generation. On average, Generation X owes more than $19,000 in medical debt compared to millennials, who owe $11,622 and baby boomers, who owe an average of...
Credit card debt burdens are high in Texas
Houston residents earning the metro area's average wage would have to work for 20 months to pay off the city's median credit card debt, and it would cost them $799 in interest to do it, according to recent a report from CreditCards.com. The consumer financial advice...
Are you preparing to attend the 341 meeting?
If you are filing either Chapter 7 or Chapter 13 bankruptcy, you must attend what is known as the 341 meeting. On the surface, this may seem a bit daunting, since your creditors receive notification of the date and time and may attend. However, if you know...
How change in Chapter 13 bankruptcy might affect creditors
Generally speaking, Chapter 13 bankruptcy gives debtors the right to modify their mortgages by dividing the debt into a secured portion that is equivalent to the value of the property if it were to be sold today and a portion that is considered unsecure. However, this...