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May 2012 Archives

Creditor harassment could be a thing of the past

There are few things more stressful for Texas residents then being constantly reminded of the overwhelming debt they are facing. However, many residents have begun to feel the stress take an even larger toll on their well-being due to creditor harassment.

Up to 1 million Americans too broke to file for bankruptcy

It may sound counter-intuitive to many Texas residents, but potentially up to a million Americans are too broke to go bankrupt. The news comes after a recent study conducted by the National Bureau of Economic Research. The study found that the cost of filing for Chapter 7 bankruptcy, which is the most common kind of personal bankruptcy, is more than $1,500 on average.

Texas college students and overwhelming debt: Credit cards blamed

An assistant professor of law says that when a bank wants to justify offering a credit card to a college student, a student loan can be considered income. A survey of 500 students at the University of Houston and Baylor University concluded that banks are getting increasingly creative in order to avoid new restrictions by the federal government on the advertising of credit cards to college students.

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