When Texas residents find themselves in a precarious financial position, they have numerous options for debt relief, depending on their overall circumstances. One option available to many is the filing of a Chapter 13 bankruptcy. Before embarking on this debt relief path, it might help to better understand the role of the repayment plan in this process.
Financial issues are nothing new to residents of Texas. Whether they come about through sudden events such as a job loss, a divorce, or an illness or injury, or through other means, they end result is the same -- calls from debt collectors, struggling to stay afloat and looking for debt relief options. Many of them file for Chapter 7 bankruptcy and then wonder how to rebuild their credit afterward.