According to an infographic from Supermoney that draws on a report from the credit agency Experian, the average credit card debt of people in Texas falls somewhere in the middle of the national average. People in Iowa carry the lowest balances with an average of...
Chapter 13 Bankruptcy
3 approaches to eliminating credit card debt
Unemployment, medical emergencies or unexpected vehicle repairs can send people in Texas reaching for their credit cards. Although numerous reasons can cause someone to fall into debt, the balances need to be paid at some point. Debtors have several approaches to...
Tax debt may remain after a bankruptcy
When a Texas resident files for bankruptcy, tax debts could be discharged along with any other outstanding balances. However, it is not a given that a tax debt will be eliminated. If that debt is related to withholding taxes owed, it generally won't go away in either...
Seeking assistance paying off medical debt
Texas patients who can't afford to pay their medical bills may be able to find help doing so. Across the United States, hospitals offered $38 billion in what is referred to as charity care. Sutter Health offers families of four without insurance who make up to...
What to know about debt in America
The typical Texas resident has some level of debt. According to Experian, the average American household debt excluding mortgages was $24,706 in 2017. The average credit card debt last year totaled $6,354, which was a 2.7 increase throughout 2017. Those in the...
Understanding bankruptcy and the credit report
For people in Texas struggling with the burden of overwhelming debt, bankruptcy can be a real solution to help create a way out of a difficult situation. However, when considering filing for bankruptcy, it is important for a person to have an accurate and thorough...
Credit card debt on the rise
Some people in Texas may be carrying a significant amount of credit card debt. By the end of 2017, Americans collectively added the most debt to their credit cards since before the recession of 2007. In all, total credit card debt is more than $1 trillion. There was a...
Dealing with auto loan debt in bankruptcy
When Texas residents file for bankruptcy, they will be given an automatic stay from creditor collection actions. This may enable them to keep their vehicle while a bankruptcy case is ongoing. However, it may be necessary to pay any outstanding balance owed and keep up...
How to reduce the likelihood of medical debt
Texas residents in their late 30s through their early 50s are more likely to have medical debt than any other generation. On average, Generation X owes more than $19,000 in medical debt compared to millennials, who owe $11,622 and baby boomers, who owe an average of...
How change in Chapter 13 bankruptcy might affect creditors
Generally speaking, Chapter 13 bankruptcy gives debtors the right to modify their mortgages by dividing the debt into a secured portion that is equivalent to the value of the property if it were to be sold today and a portion that is considered unsecure. However, this...