A rule proposed recently by the Consumer Financial Protection Bureau would allow debt collectors to contact consumers in Texas a lot more frequently. Collectors could make phone calls up to seven times each week and they would be allowed to send unlimited emails and text messages. Once collectors speak to the consumer though, they would not be allowed to call again for one week. This rule change would represent the first major update to the CFPB rules in 40 years.
You have been missing car payments. Ever since you lost your job, you just cannot find a way to make those payments on time. You have to make paying rent and keeping food on the table a priority; you have kids, after all, and you need to care for them.
Many Texas consumers face seemingly insurmountable debt.. They may have credit card bills with balances that got out of control, or they may have found an unexpected illness saddling them with medical bills. They struggle to pay their bills each month and face creditor calls, late fees and high interest rates. While personal bankruptcy could present a way forward out of this situation, many people are concerned about the effects of bankruptcy on a credit score. Of course, a bankruptcy filing is a serious negative entry on a credit report and will affect a person's ability to access new credit.