Getting behind on financial obligations happens to many people, including Texas residents. These issues often arise out of some sort of crisis that drains financial resources such as an illness, an injury or job loss, among other things. When this happens, some creditors may attempt to get the money they are owed through a bank levy or a garnishment, both of which could be stopped, at least temporarily, through a Chapter 7 bankruptcy.
There may be 800,000 federal workers not getting paid right now, but the partial government shutdown affects numerous other people as well, and many live here in Texas. As time goes on, it is inevitable that some of those affected may not be able to make their mortgage loan payments. Some are calling for the foreclosure process to be put on furlough for those affected by the country's current political struggles.
For many Texas residents, the holidays mean buying gifts, which often leads to overspending as people get carried away by the spirit of the season. In the first months of the new year, they may find themselves struggling to pay for the credit card debt incurred at the end of the previous year. When those debts cannot be easily repaid, they end up forced to deal with credit card debt collectors.
Numerous Texas residents pay their way through college with student loans. While in school, most of them had dreams of making enough money to support themselves and repay their loans without a problem. Then, reality set in, and they realized that paying for those loans is not as easy as they thought, and perhaps were told, that it would be. Most people are told that filing a Chapter 7 bankruptcy does nothing for student loans, but that may not always be the case.
Many Texas residents avoid going to the doctor as much as possible due to the high cost of health care. However, there are times when seeking medical attention is unavoidable. When a serious illness or injury strikes, the accompanying medical debt could financially devastate a family, and finding a satisfactory way to deal with it could prove elusive.