How Car Repossession Works & How To Stop It In Texas

If you are behind in paying your car payments, you may face repossession. Many people believe that a lender must file a lawsuit to begin the car repossession process. However, this is not true. A lender can begin the car repossession process by simply taking your...

The Statute of Limitations on Debt Collection in Texas

Dealing with large debts can be extremely stressful and overwhelming. Creditors and debt collectors can be aggressive or even abusive when seeking repayments. However, as a consumer, you are protected by several laws that oversee debt collection within the state. To...

The Three Classes of Debts

You will be able to understand how bankruptcy works much better once you understand the three main classes of debts. Bankruptcy law does not play favorites with your creditors, except when those creditors are legally different. The most basic way that creditors are...

A Secured Debt: What Is It?

When you are filing for either Chapter 7 or Chapter 13 bankruptcy, it is crucial to know the difference between a secured debt and an unsecured debt. The characterization of your debt can impact the fate of your personal property. Secured Debt Defined A secured debt...

What Is the Debtor Education Requirement in Bankruptcy?

In addition to the “credit counseling” that you must do before you can file a bankruptcy case, after filing the bankruptcy you must also complete “an instructional course concerning personal financial management” in order to get a discharge of your debts. This second...

What You Need to Know about Debt Settlements

A debt settlement is when you agree to pay a creditor less than you owe in one large lump sum. This should be avoided if possible, as it is a bit hit on your credit score. However, if you are falling behind on payments and you feel as if it is the only option next...