Any Texas resident who has spent any amount of time in a doctor's office or hospital knows how expensive it is to be sick or injured. It probably will not come as a surprise to know that medical debt leads to numerous bankruptcy filings across the country every year. When you look at the data, it is not difficult to see why.
Sobering facts about medical debt in the United States
Be careful not to jeopardize a Chapter 7 bankruptcy discharge
Finding a way to resolve financial difficulties can help relieve the stress that most Texas residents feel under these circumstances. For many, filing for Chapter 7 bankruptcy is the right debt relief option, and they expect to walk away with a fresh financial start and fewer debts. However, if not careful, they could jeopardize receiving the discharge they need.
Never miss another payment with these tips
Budgeting can be tough for everyone — no matter how much your income and expenses are.
How often can Chapter 13 or Chapter 7 bankruptcy be filed?
It is nearly impossible for Texas residents to predict when they will encounter serious financial difficulties. Perhaps a consumer had this problem in the past, and used Chapter 7 bankruptcy in order to gain a fresh financial start. Things may have gone well for some time, but then something happened to undo that progress. Perhaps an injury or illness, a job loss or a divorce caused another financial crisis.
Facing debt collectors for credit card debt
Many Texas residents experience financial difficulties for a variety of reasons. Credit card debt is often part of those troubles. Once they are unable to make payments on these debts, they may discover the account has gone to collections. Handling this type of situation requires taking several steps. If the situation cannot be satisfactorily resolved, consumers may need to take additional measures to achieve relief from these debts.
