Bankruptcy

3 Strategies to Avoid the Debt Trap

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With how convenient it is to spend money in today’s world, it’s no wonder why so many people are in debt. Credit card debt is steadily climbing, especially as payment options are becoming more convenient and effortless. No one ever wants to talk to Texas bankruptcy lawyers about their financial situation, but it’s becoming more common every day. The good news is with a little strategic planning and discipline, you can be well on your way to avoiding the dreaded debt trap. Here are three effective strategies to consider. Set A Reasonable Budget Everyone’s budget looks differently, since we all have different...

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The Risks You Take in Debt Settlement

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Having several skipped or missed payments on certain types of debt can lead to collectors calling you around the clock to get their money. Sometimes it can get to the point where you’ll do anything just to stop the harassment. A common way to do so is to work with a debt settlement company and have them negotiate your debt to reduce the amount owed. While this may seem like an ideal scenario on the surface, it’s far from a guaranteed good outcome. Any bankruptcy lawyers in Houston will tell you to proceed with extreme caution if you pursue debt...

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The Advantages of Having a Payday Loan Attorney

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Getting a payday loan can help you navigate a tough temporary situation. However, the amount of debt you owe can quickly get out of control and create substantial legal issues in the process. Before your situation even gets that far, it’s important to have a payday loan attorney on your side to make sure your finances don’t spiral out of control. There are many reasons why a payday loan attorney is beneficial, and here are some of the main ones. No More Dealing With Collection Calls You can guarantee you’ll get collection calls if you’re not paying off your payday loan debts....

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Are All Debts Treated Equally in Bankruptcy?

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Unless you’re an experienced debt defense attorney, you may not know exactly how your debts will be treated during bankruptcy. It’s important to understand that not all debts are treated equally, so before you file for Chapter 7 or Chapter 13 bankruptcy, working with an attorney to determine a strategy is beneficial in many ways. Most debts can be included when filing for bankruptcy in Texas, but it doesn’t mean they will all be discharged. Here’s what you need to know about how certain debts are treated in bankruptcy. Priority Debts May Not Be Discharged The most common priority debts include vehicle...

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What to Know About Building Your Credit Score After Filing for Bankruptcy

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It goes without saying that filing for bankruptcy in Texas has a significantly negative impact on your credit score. But the good news is by taking proactive steps immediately after filing for bankruptcy, your credit score can slowly start improving. During this time it may be difficult to apply and get approved for credit cards and loans, so working with a Houston bankruptcy lawyer is important to make sure all of your bases are covered. Here’s what you should know about rebuilding your credit score after filing for bankruptcy in Texas. How Long Does Bankruptcy Remain On Your Credit Report? When you...

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