Rebuilding credit after bankruptcy and divorce
Facing both bankruptcy and divorce is a challenging double whammy. But sometimes it’s necessary to dig deep down and keep going, knowing there’s a new life waiting on the other side. It’s certainly not uncommon to have problems with both money and your marriage. After all, money problems are often a major stressor in a […]
Supreme Court to hear Chapter 7 bankruptcy case
The U.S. Supreme Court doesn’t hear bankruptcy cases very often. But this year the Court does have a bankruptcy case on its docket. The case is called Bullock v. BankChampaign, N.A. The case is important because of the questions it addresses about what debts can be discharged in a Chapter 7 bankruptcy. Texas and all […]
Credit Card Debt: Consumer, Beware
Credit card debt is like a slippery slope. You may start down that path, thinking you’ll catch up soon. But life happens – injuries, illnesses, lost or downsized jobs. Suddenly, you find yourself slipping farther down the slope. If you are in this position, bankruptcy can be an effective response. It offers a way to […]
Buying a house after bankruptcy
There are many myths and misconceptions about bankruptcy. Indeed, there are far too many to clear up in just one blog post. But let’s take one such misconception: that by filing bankruptcy, you are compromising your ability to get a mortgage to buy a house in the future. In practice, this is simply not always […]
Unpaid medical bills and credit reports
It is a widely known fact that medical debt is the leading cause of bankruptcy. Even people with insurance are only one catastrophic illness away from bills they cannot really pay – and hence the need for a financial fresh start through a bankruptcy filing. Less well known, however, is the negative effect that unpaid […]
Credit Card Debt Collection: Concerns About Flawed Paperwork
The credit card industry does it all it can to get people hooked on unsupportable debt. To be sure, the bad economy is often a factor. You may have lost your job or had your hours cut. There may be other financial pressures, too, such as medical bills. So it can be tempting to begin […]
When Educational Debt Becomes a Burden, Not a Stepping Stone
San Antonio Mayor Julian Castro gives the keynote address at the Democratic National Convention tonight. It is a high honor to be chosen for this assignment. Everyone from the San Antonio area – regardless of political affiliation – will be sharing the spotlight by extension. The major is still only 37. In his three years […]
Rising Housing Costs Leave Many Texans in Need of Debt Relief
It isn’t only loss of a job or unexpected medical debts that can cause you to get behind on your mortgage payments. The need for debt relief can also be the result of the cumulative effect of wages that just don’t keep with the high cost of housing and other expenses. Home foreclosure in San […]
Tax Debt: What Effect Will a Bankruptcy Filing Have?
There are many types of debt. When health problems occur, even people with good insurance can find themselves in medical debt. And in this challenging economy, problems with credit card debt and mortgage debt are very common. And then there’s tax debt. If you owe money to the IRS or the Texas Department of Revenue, […]
Families of Elite Olympians Often Have Ordinary Financial Problems
To the television viewer, Olympic athletes seem to be on top of the world. They are young, strong and highly skilled in their sports, with bright futures beckoning. But most athletes come from ordinary families with ordinary financial struggles. For example, the mother of a gold medal-winning gymnast filed for bankruptcy to help keep her […]