Bankruptcy may be an option for Texas residents who have significant debt that they are unable to pay. One type of bankruptcy, Chapter 7, is the most frequently filed bankruptcy.
Though once a taboo topic, bankruptcy is now receiving recognition as the tool that it is meant to be. In many cases, it can aid people in gaining the fresh financial start they need.
The acceptance of debt as commonplace in everyday life seems to be a new reality for many Texas residents. According to recent studies, individual debt continues to rise among nearly every age group in the country. An analysis of what kind of debt and how much debt is being acquired by different age groups paints a revealing picture.