When a person or business in Texas cannot pay debt, bankruptcy may be an option. This process allows for some or all debts to be discharged either through liquidation or through a repayment plan. Those who file for Chapter 7 bankruptcy will use the money obtained...
If you are a millennial, you may have concerns about your finances. According to the Wall Street Journal, two-thirds of millennials have at least one type of outstanding long-term debt. Having debt is not the only issue. Millennials are struggling to make payments and...
If the Medical Debt Relief Act were to pass, it would require 180 days to pass before medical debt could be reported on a credit report. It would also remove medical debts that had been settled or otherwise paid off. This could work to improve the credit scores of...
A long-term study conducted by the Consumer Bankruptcy Project found that the bankruptcy rate among seniors has nearly tripled since 1991. In addition to shrinking incomes, many older adults are also struggling with rising health care costs. This is a growing problem...
When someone decides to file for bankruptcy, it is natural to wonder if the proceeds of a retirement account such as an IRA would be vulnerable to creditors. Another concern is whether IRA proceeds would be safe if the beneficiary files for bankruptcy. Safe harbor for...
Texas residents who are struggling to pay off debt are advised to create a repayment plan as soon as possible. They are also advised to overcome the urge to go deeper into debt on meals or other items that may provide temporary satisfaction. Part of a debt repayment...
Debtors in Texas who have filed for bankruptcy may have legal recourse if their creditors continue to pursue collections. Bankruptcy filers are given an automatic stay, during which creditors are prohibited from contacting the debtors to collect on the debts. The type...
Texas residents who are contemplating bankruptcy are often concerned about obtaining future credit. This is a valid concern, especially in the area of automobile loans since transportation is often necessary to retain employment. Though a bankruptcy is a blemish on a...
Countless Americans are overwhelmed by debt and seeking ways to lessen the burden it imposes on their lives. When debt goes to a collections agency, it is not uncommon for creditors to persistently harass debtors to the point of intimidation. Whether you have maxed...
The average Texas resident has a credit score of 656, which is considered fair but not good, and has $6,902 in revolving debt according to figures from Experian. The consumer credit reporting agency's annual State of Credit report reveals a growing North-South divide....