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...
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....
Medical debt is a growing problem nationwide. According to data published by credit reporting agency Experian, unpaid medical bills were in excess of $127 billion last year. People in Texas with outstanding medical debts might receive collections calls or demand...
Of all American cities, San Antonio is where millennials have the highest median debt. Those between the ages of 22 and 37 who live in San Antonio have a median balance of $27,122, according to LendingTree. While student loan balances make up the majority of that debt...
In a recent study, more than 2 percent of credit reports had a medical debt of less than $200 sent to a collection agency. The study, which was published in the journal Health Affairs, looked at 4 million credit reports from 2016 to come to that conclusion. While...
A study released recently by the investment bank Charles Schwab suggests that many young people in Texas and around the country get into problems with debt even before they are old enough to legally purchase alcohol. The researchers also found that many millennials...
In October 2009, the unemployment rate throughout the country was 10 percent. Roughly 10 percent of credit card accounts went into bad status. Between 2008 and 2013, Texans and other Americans had begun to make paying down debt a priority as a result of the recession....
Some Texas consumers may be paying a significant amount of money in credit card fees and interest. The personal finance website MagnifyMoney looked at data provided by the Federal Deposit Insurance Corporation and found that Americans had paid over $104 billion in...
As many people in Texas know, it is sometimes necessary to file bankruptcy. Things happen that cause financial hardship, and debtors need relief. Chapter 13 bankruptcies can span three years or five years, sometimes creating a challenge for debtors who find themselves...
Texas residents considering filing for bankruptcy to handle their substantial debts should be aware that not every type of debt is eligible to be discharged. People should also understand the differences between the two types of bankruptcies they are most likely to...