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November 2012 Archives

Woman faced overwhelming debt after husband dies from cancer

The economy left weakened from the recent recession has also left many families on the brink of financial disaster. These families in Texas and elsewhere are just barely able to pay for their basic needs and are vulnerable to one unfortunate incident burying them in overwhelming debt. One of the most common ways which families end up in dire financial straits is when a family member suddenly becomes ill. This becomes a problem when the family cannot afford to pay the medical bills.

Woman has overwhelming debt forgiven by the creditor

Many Americans have been hounded by aggressive bill collectors lately. Many claim the recent recession was partially caused by the overwhelming debt of consumers. However, sometimes these bill collectors are unscrupulous in their practices and end up going after consumers who do not owe the debts that the collector claims they owe. Many consumers in Texas and elsewhere are discovering that their old debts have been forgiven, yet the bill collectors continue to harass.

TireMax files for Chapter 7 bankruptcy in Texas

When a business has stopped paying one of its creditors the money it owes, it could quickly turn into a serious financial problem. The creditor typically will do everything within its power to obtain the money that is owed. This could mean constant telephone calls or even a visit at the front door or even a lawsuit for breach of contract. This is what had happened to a Texas tire retail chain that has recently filed for Chapter 7 bankruptcy.

Rise in debt may not necessarily mean overwhelming debt in Texas

Most Americans would welcome any news of an improving economy. Many people in Texas and elsewhere may also be more wary of the dangers of overwhelming debt, ever since credit card debts and home mortgages significantly contributed to the recent recession. However, some experts on economics and finance are suggesting that the recent increase in household debt could be a sign of an improving economy.

Couple wins $20 million lawsuit, later files Chapter 7 bankruptcy

Anybody can run into dire financial straits. This became even more apparent during the recent recession which hurt just about everybody's pocketbooks. Even many wealthy individuals in Texas and across the country were deeply affected financially, while some were even forced to file for bankruptcy. One couple has recently learned this lesson for themselves. Despite winning a multimillion dollar lawsuit, the couple has now filed for Chapter 7 bankruptcy.

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