There may not be any options when consumer debt becomes uncontrollable. Bankruptcy may be the best way to seek a fresh financial start. Statistics compiled by Research help illustrate how bankruptcy is used in this country. Loss of income was cited as the most common...
Chapter 7 Bankruptcy
How Chapter 7 bankruptcy can protect the filer’s property
Chapter 7 bankruptcy provides options to protect some of the property of the party filing for bankruptcy. This can help Chapter 7 bankruptcy filers rest a little easier that they will not have to start over after the bankruptcy process is complete but will be able to...
Study: Bankruptcy unlikely to affect employment
When people in Texas are dealing with insurmountable debt, collection calls or lawsuit threats, they may not be sure which step to take. Bankruptcy may provide debt relief, but many people are worried about filing because they are concerned about potential other...
Dealing with an automatic stay for a bankruptcy
After a debtor files for bankruptcy in Texas, creditors' attempts to collect will be automatically halted under a stay. One reason why many people seek the protection of Chapter 7 bankruptcy is because it's becoming difficult or impossible to deal with creditor...
Steps to Chapter 7 bankruptcy qualification
Texas consumers who feel overwhelmed by debt may want to file for Chapter 7 bankruptcy. The first step for determining qualification is the means test, which uses the median income for the state. Most of the time, making less than this amount means the person can...
Refinancing could be possible after a bankruptcy filing
Having the lowest possible housing costs may help Texas homeowners who recently filed for bankruptcy keep their finances under control. Although it might have been impossible to refinance before the bankruptcy, lenders often offer refinancing options to those who have...
Medical bills a hardship to 137 million Americans
Overwhelming medical bills are causing people in Texas and nationwide to burn through their retirement savings and rack up massive debts, according to a new report by TD Ameritrade. In fact, the financial services firm found that 137 million Americans have faced...
Understanding when Chapter 7 bankruptcy may be a good option
When Texans are facing overwhelming debt, they are frequently unaware of what to do next. Many might be reluctant to consider personal bankruptcy. There are common misconceptions about the process. It is imperative to know that it can be a useful strategy to clear...
Student debt may be discharged in bankruptcy in some cases
Student loans are generally not dischargeable in bankruptcy, but there are circumstances under which a person may be able to have them discharged. For people in Texas who are struggling to make their student loan payments, the most common bankruptcy options are...
Medical problems double the chance of bankruptcy
A research study from the American Bankruptcy Institute indicates that people in Texas and across the country have double the likelihood of filing for bankruptcy if they have had a gap in health insurance coverage of at least two years. The study included information...
