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October 2013 Archives

Young people better at avoiding overwhelming debt in Texas

Usually wisdom comes with age. However, this may not necessarily be the case when it comes to managing credit cards, according to a recently released study. Researchers have found that younger people in Texas and other states may have a decreased chance of finding themselves facing overwhelming debt from credit card bills.

Medical credit cards cause overwhelming debt in Texas

Healthcare has been on the minds of many people as of late due to the recent debate among lawmakers regarding Obamacare. Medical bills are a common reason for people to find themselves in overwhelming debt in Texas and other states. Credit card companies have played a significant role in this problem by issuing medical credit cards with high interest rates.

Sunland files Chapter 7 bankruptcy following product recall

In business there are various hurdles which a company could face that may be financially detrimental to the company. Many companies in Texas and other states are able to weather the storm, however many are just not able to recover from a significant financial hardship. This seems to be what had happened to Sunland, Inc. After a product recall and a forced shutdown of its plant, the company is now filing for Chapter 7 bankruptcy.

Confusing credit card disclosures can cause overwhelming debt

One of the reasons that consumers found themselves in trouble due to credit card debt is because they did not fully understand the terms of their agreements with their credit card companies. Regulators believed part of this problem was the convoluted legal language of credit card company disclosure forms. Difficulty in understanding how credit card companies levy fees and interest charges had put many consumers into overwhelming debt in Texas and other states.

Family with overwhelming debt saved by good Samaritan group

Being hit with an unexpected serious illness can be detrimental to any family financially. This can result in overwhelming debt caused by medical bills in Texas or in any other state. One woman's family experienced exactly this when she became seriously ill in 2010. Ever since then her family has been struggling to make ends meet in order to pay for her continued need for medical treatment.

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