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....
Chapter 13 Bankruptcy
Credit bureau says medical debt now tops $127 billion
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...
Millennials carry large debt load in San Antonio
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...
Medical debts can create headaches for patients
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...
Study reveals high debt levels among young Americans
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...
Household debt increasing to record levels
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....
Interest rate hikes may mean higher bills for consumers
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...
Chapter 13 bankruptcy may allow for additional financing
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...
Bankruptcy and dischargeable debts
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...
Store credit card delinquencies on the rise
An increasing number of people in Houston and across the country are finding it difficult to pay the bills for their store-branded credit cards. Delinquencies of 60 days or greater on the payments for these bills have gone up to 4.65 percent as of May 2018, an...