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December 2013 Archives

Creditors of airline petition for involuntary Chapter 7

Everybody needs to be careful when taking on debts. This also applies to businesses in Texas or any other state that take on debt in order to pay for operating expenses and other necessary costs. If a company takes on too much debt without earning enough revenue to pay its bills, the company may find itself in serious financial problems. One airline company seems to have found itself in this situation and may be forced to file Chapter 7 bankruptcy even though the company does not wish to end its business.

Balance transfer offers may not solve overwhelming debt problems

Credit card companies offer consumers various ways to reduce the interest they accumulate on their debt. These companies realize that many people are finding themselves facing overwhelming debt, which provides an opportunity for the credit card companies to gain new customers by offering zero percent balance transfers. Although many times this will help consumers looking to reduce their interest payments, there could be some situations when zero percent balance transfers are not the best option in Texas or in any other state.

Luxury Tec LLC files Chapter 7 bankruptcy

The manufacturing sector in the United States has been weak for quite a long time now. Although there has reportedly been some economic recovery by certain measures, many manufacturing businesses in Texas and other states have still been feeling the aftereffects of the recent recession. In some instances, many have been forced to close up shop due to a still weak economy. This may have been the case with one mirror manufacturing company which is now filing for Chapter 7 bankruptcy.

CFPB looks to update rules against creditor harassment in Texas

Many people who face large medical bills may find themselves fielding phone calls and letters from a debt collector. However, this is where the Consumer Financial Protection Bureau (CFPB) comes in to curb creditor harassment. The bureau is in charge of regulating debt collection activities in Texas and all other states in the nation. Now, the bureau is preparing to update the rules which regulate how debt collectors are allowed to communicate with consumers that owe overwhelming debt.

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