Those who file for bankruptcy in Texas will likely notice that the filing is listed on their credit reports. How long it stays on a credit report depends on what type of protection an individual sought. If a person filed for Chapter 7 bankruptcy, it will stay on that...
Month: August 2019
More elderly people file for bankruptcy
An increasing number of older people in Texas and across the country are filing for bankruptcy. There are a number of factors contributing to the problem of people facing severe economic crisis after they reach retirement age. While in 1991, only 2% of all bankruptcy...
The process to obtain new debt during a repayment period
In a Chapter 13 bankruptcy case, a Texas debtor can ask to accrue new debt during the repayment period. However, a trustee must review the request, approve it and send a motion to incur new debt to the judge. A copy of the motion will also be sent to creditors. If all...
Why millennials declare bankruptcy
Finding and maintaining financial security as a millennial can be difficult. According to a recent study, people between 25 and 34 years old have $42,000 in debt on average. If you are a millennial dealing with debt, you may start to consider filing bankruptcy. If...
The difference between Chapter 7 and 13 bankruptcy
Those who need help getting their finances in order could do so by filing for bankruptcy. In most cases, a debtor in Texas or any other state will file for either Chapter 7 or Chapter 13 bankruptcy. Chapter 7 bankruptcy is for those who have unsecured debts and make...