Texas debtors who are considering bankruptcy may wonder what chapter 7 bankruptcy entails. The chapter, also known as liquidation, involves the selling off some of the debtor's property and assets in order to pay a small portion of the owed debt. Texas law does exempt...
Month: November 2014
The statute of limitations on credit card debt in Texas
Texas law states that any credit card debt that has been delinquent for more than four years may no longer be enforced by a civil suit. This statute of limitations was created by the legislature to protect consumers from onerous lawsuits that they could not properly...
Understanding debt collection in Texas
Texas residents may benefit from learning more about debt collection as described by the state's attorney general. When consumers fall behind in debt, they can typically contact the creditor, explain the issue, and negotiate to refinance or modify the current payment...
Facts about credit card usage in Texas
Having a credit card is a big responsibility. However, having a credit card does not have to put a person in debt for the rest of their life. In fact, one of the largest myths is that using a credit card means carrying a large balance from month to month. By paying...
