Overwhelming debt can be a major source of stress and frustration for Texas residents. Many of them turn to Chapter 7 bankruptcy for relief from these obligations, and look forward to the day when they receive their discharge and get to move forward with a fresh financial start. However, if filers are not careful, their cases could result in a dismissal instead of a discharge.
The President recently signed a bill that allows veterans to receive disability benefits after filing for bankruptcy. The Honoring American Veterans in Extreme Need (HAVEN) Act, now protects veterans’ disability income so it cannot be seized during bankruptcy.
When you planned your wedding, you may have gone over budget a little. Okay, maybe you went over your budget by a lot. In any case, you now have a significant amount of debt related to your wedding that you can't seem to pay off.
JAMA Internal Medicine recently published the findings of a study conducted between 2010 and 2016 by researchers at Stanford University. It took years thereafter to compile the data. What it discovered is that the number of patients being surprised by large amounts of medical debt rose dramatically. People here in Texas more than likely discovered the same thing, but they may think it is just the rising cost of health care, but it may be more than that.
Getting behind on mortgage loan payments can create a significant amount of stress for a Brownsville resident. The prospect of losing the family home will often cause a homeowner to begin looking for a viable debt relief option. For many people, Chapter 13 bankruptcy provides the needed relief, though it may not be for everyone.
When Texas residents consider how to reduce their monthly budget, many people will tell them to cut out their morning coffee to save money. While that may be a good idea, it probably is not consumers' main source of credit card debt. Other luxury items seem to surpass it, and not giving up those expenses seems to create larger balances.