Credit Card Debt: The Growing Use of Pre-Paid Cards
It can be easier said than done to keep credit card debt at bay. When it reaches a certain point, you have to consider all of your debt relief options, including bankruptcy. Depending on your unique circumstances, filing for bankruptcy may be the best way to resolve your problems with unmanageable debt. The story of […]
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, […]
Credit Card Debt Down for Many, Thanks to Bankruptcy Filings
Many a bad joke begins with the words,” I have good news and bad news.” The punchlines that follow vary widely in quality, but we all understand the good news / bad news format. Credit card debt is no joke, however, and the good news and the bad news are intertwined. The good news is […]
Many Texas Seniors Sag Under Weight of Debt
“Getting old isn’t for sissies,” goes an oft-quoted saying often attributed to the actress Bettie Davis. If she were around today, Davis might be inclined to add a variation on that theme. Getting old isn’t for sissies, and neither is being in debt – especially for seniors whose so-called golden years have turned sour. This […]
Cast a Cold Eye on Credit Card Consumption
What are some of the warning signs that credit card debt is starting to be a problem for you? Maybe you started using your Visa or another card for ordinary purchases like gas or food, thinking you could pay off the balance in full at the end of the month. But what you found is […]
Consumer Debt Grows Along With Income Inequality
Studies have shown that people spend much more when paying with credit rather than cash. And as time goes on, there is a cumulative effect to this. The balance starts to grow, and suddenly someone may be facing credit card harassment from bill collectors. For many people, however, living off of credit doesn’t necessarily mean […]
Tax Debt: Beware of Liens and IRS Levies
Tax debt is a recipe for trouble – unless you respond proactively to the problem. Don’t just let your wages become the object of an IRS tax levy. Here are some things to think about, as you consider filing for bankruptcy and other debt relief options. First, let’s consider the word “levy” and distinguish it […]
Rebuilding Credit After a Texas Bankruptcy Filing
There are many misconceptions about bankruptcy law. Eight years after the law was revised, many people are still under the impression that the requirements may be too difficult for them to meet. When you talk with a consumer bankruptcy attorney, however, you will better understand the big picture. It’s true that the law, as amended […]
Bankruptcy and Taxes: Rebates Can Help Finance a Filing
Bankruptcy and taxes can go together in a couple of different ways. For people in search of debt relief, bankruptcy can potentially allow the discharge of income tax debt. This could include stopping an IRS tax levy. There’s another way as well. New research shows that many Americans who are short of cash are using […]
Reasons for Personal Bankruptcy Reflect Tough Economy
The tough economy means there are many reasons to consider filing for consumer bankruptcy. Debt takes many forms and the effect of all of those debts is cumulative. For example, if you are suddenly hit with major medical bills, it can become difficult to make your mortgage payments. The same is true of job loss. […]