Bankruptcy may be an effective option to eliminate debts or make them more manageable for people in Texas. Individuals typically file for bankruptcy protection under Chapter 7 or Chapter 13. While Chapter 7 is sometimes called liquidation bankruptcy, Chapter 13 is...
Month: December 2018
How to file for Chapter 13 bankruptcy
People in Texas who are dealing with crippling debt may wonder about the rules for filing for Chapter 13 bankruptcy. Eligibility for Chapter 13 bankruptcy includes having a regular income that will allow the person to pay creditors back on a payment plan each month....
Senior citizens increasingly filing for bankruptcy
Bankruptcy is something that affects all age groups. Even senior citizens, who many people assume are more financially stable given a long working life and safety nets such as retirement accounts and savings, are vulnerable to the effects of overwhelming credit card...
Credit card burden higher in some states than in others
It takes longer for people in some states to pay off their credit card debts than it takes for people in others. Texas is one of the states where people carry the highest balances on their cards, but it's not among the worst when it comes to payoff time. The length of...
Consumer debt on the rise nationwide
Debts owed by consumers in Texas and across the U.S. are expected to hit $4 trillion by the end of 2018, but the chief economist from LendingTree says it's not a reason to worry. While total consumer debt is a big number, he said, the economy is more stable and income...