Incomes naturally vary among individuals in Texas, but on the whole, gender influences income and levels of credit card debt. The Federal Reserve System has calculated that women have a median salary of $41,554 compared to men at $51,640. Lower income translates into...
Many people in Texas who struggle with debt decide to cut up their credit cards so that they can avoid buying items they cannot truly afford. While credit cards can get many people into debt, they also can play an important role in a plan to responsibly rebuild a good...
Thinking about filing for bankruptcy? You may attempt to separate myth from fact with respect to your financial life in the aftermath. Here are five areas of common concern and what you can reasonably expect to happen. 1. Changing account status After bankruptcy, the...
Many Texas residents struggle to pay their monthly credit card bills. As part of the agreement to obtain credit, cardholders sign documents agreeing to pay all the debts that they owe to the credit card company plus interest. When these debts aren't paid on time, many...
Texas residents who are looking to borrow money will take loans that are labeled as secured or unsecured. A secured loan is one that is backed by an asset such as a home or a car. If a borrower fails to make a payment on a secured loan, the lender has the right to...
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...
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...
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...
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...