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May 2014 Archives

Choosing between Chapter 7 and Chapter 13 bankrutpcy

Just about everybody runs into financial challenges from time to time. Although many people are able to resolve their financial problems and pay off their debts, there are many in Texas unable to take care of their overwhelming debt issues. For these individuals, filing for personal bankruptcy may be the answer. However, it is important to understand the difference between the two types of personal bankruptcies, Chapter 7 and Chapter 13.

Is overwhelming debt from credit cards cause of future problems?

Americans find themselves facing financial problems for a variety of reasons. However, one of the most common causes of financial concerns for American families in Texas is overwhelming debt from credit cards. This can have a highly detrimental effect on one’s credit score, which can result in further problems down the road.

Engineering firm files for Chapter 7 bankruptcy

In Texas, bankruptcy offers an opportunity for a business in financial duress to responsibly close the company, thus allowing its owners to move on to other investment opportunities while leaving the financial problems of the former company behind. One company in another state has filed for Chapter 7 bankruptcy for this very reason. The civil engineering firm known as Lakeshore TolTest lost lucrative foreign defense contracts and was also involved in a corruption scandal.

Payment plans can help with overwhelming debt from medical bills

When a person is sick or injured, he or she will be grateful for the opportunity to receive needed medical care. However, after receiving help from medical professionals, consumers will have to deal with the resulting medical bills. Many people may have problems keeping up with payments on overwhelming debt from medical bills in Texas or in any other state.

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