Consumers and consumer advocates have been furious and up in arms lately as they have been victimized by the credit card companies last-minute ditch efforts to raise rates and fees across the board to customers ahead of sweeping READ MORE) Filing for bankruptcy is a right guaranteed by the U.S. Constitution to help individuals who cannot afford to pay their debt. In order to qualify for bankruptcy filing as an individual, you must fit all of the following requirements:
1. You must have accumulated at least $1,000 in debt
2. You must be unable to meet regular payments as they are due
3. You must have stopped making regular p... ( READ MORE) In the United States, bankruptcy is an option for businesses or individuals who cannot afford to pay their debt.
United States bankruptcy laws are defined in Article 1, Section 8, Clause 4 of the U.S. Constitution, which gives the U.S. Government rights to enforce "uniform laws on the subject of bankruptcies throughout the United States."
Chapters of Bankruptcy
In the U.S... ( READ MORE) |
Texas Debt Relief
Over a million Americans filed for Chapter 7 debt relief bankruptcy last year, and the numbers continue to climb. Texas bankruptcy trustees have seen their dockets fill to bursting, and even the staunchest members of Texas society have had no other choice but to consider some other form of debt relief beyond the tried and true methods of careful budgeting and limited expenses with all excess funds immediately shifted toward remuneration of the credit accounts. Unfortunately, the past four years, following the passage of the Bankruptcy Abuse Prevention and Consumer Protection Act, it’s near impossible for vaguely solvent Texas households to earn themselves a fresh start through governmental debt relief, and even those poor souls shall find that the increased dependence upon bankruptcy attorneys for the successful arbitration of most every case comes at an exacerbated cost too dear for those borrowers sufficiently impoverished to inveigle themselves within Chapter 7 bankruptcy protection. Some parts of Texas offer governmentally subsidized programs of legal aid that were originally intended to assist impoverished borrowers with especially difficult debt relief bankruptcy cases, but a combination of diminished funding and the exponential increase in bankruptcy filings have so greatly limited these services that most borrowers strapped for time in their family’s schedule would be well advised to simply ignore all but the most highly recommended debt relief course work: while, and this must be highlighted, the pressing realities of the loans and the interest that continues to compound must remain them a primary concern.
Of course, much of the entire philosophy behind debt settlement negotiation may seem anathema to Texas heads of households who’d previously only ever imagined debt relief tactics to involve either gradual repayment or the oft promised and rarely delivered clean slate following Chapter 7 debt liquidation bankruptcy protection. Not only does the notion of intentionally skipping monthly payments when the family has more than enough money to satisfy the minimum obligation requested understandably rankle the proud sons and daughters of Texas, debt relief through settlement negotiation could easily be argued to seem like a sort of blackmail under a certain line of thinking. For residents of Texas (or, for that matter, anywhere’s in the United States of America), paying back every last dime originally loaned to the borrowers plus interest seems not just the right thing to do but, to a very real point, the foundation of our entire capitalist system and the vibrant emblem of a pioneering spirit which conquered the new world through both managed risk and that peculiar frontier spirit of symbiotic interdependence as survival mechanism. Hundreds of years ago, running away from one’s consumer burdens would not only sear a lasting stigma branding the original borrower as a dangerously amoral scoff law but, with early Texas communities so utterly reliant upon the homesteaders’ trust in one another and the nascent economy borne upon a shared sense of duty and time worn values (paying all monetary burdens in full may sound more like a common sense adage for effective navigation of consumer relations but, for those older residents of Texas, debt relief may well be a moral tenet), their family and friends as well. Further, debt relief, aside from the Chapter 7 bankruptcy protection little utilized by ordinary citizens, was absolutely synonymous with debt repayment those golden years.
By the same tact, however, borrowers actually knew the owner of the general store offering tabs to help Texas families through the long winter, and the banks serving proto municipalities in the days before the onset of the Federal Deposit Insurance Corporation’s governmental shielding of consumer checking and savings accounts would too easily go under if their clientele played fast and loose with their burdens and the town could blow away along side absent the potential for investment funds or home loans. Nowadays, as the average Texas resident’s expected to take out (even before they’ve had their first full time job in most circumstances) by the age of eighteen their first account balances from multinational credit companies essentially operating as their own loosely defined nation states – credit companies whose raison d’etre has less to do with kindnesses for desperate Texas families or spurs toward entrepreneurial invention then a culturally sanctified surrender to life long financial encumbrances – the same rules just do not apply to debt relief. Texas heads of household that attempt to take the ethical high road regarding debt relief with rapacious corporations eternally juggling the clearly suspect consumer burdens of tens of millions of borrowers in hopes that a scant majority agree to pay back minimum bills which barely cover the additional funds derived from monthly interest for their entire lives (a new sort of serfdom borne upon commercially glorified purchasing whimsy and sustained through annual percentage rates approaching twenty five percent) shall find themselves hopelessly outmanned by gigantic firms with marketing departments devoted to exploiting that lingering and ridiculously outmoded sense of shame surrounding debt relief whose budgets dwarf our own governmental credit counseling courses. It’s simply not realistic for Texas households beset by unavoidable calamity or teased along since youth by the credit card companies’ ubiquitous advertising campaigns to attach human values to debt relief.
Got Debt? Need Debt Relief?
The decision to reach out for help with your debt is not one that's easy to make. You were raised to "do the right thing", but now it’s nearly unbearable. You struggle along while your creditors are turning up the heat. And now you’re at the point where the late fees, penalties and interest expense make it impossible to keep your head above water.
Ask yourself this. If you could eliminate your debt without permanently damaging your credit, why wouldn't you?
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| Bankruptcy is not your only option! Our goal is to help you determine the right course of action for you to take. We will connect you with a debt settlement company today that will help you avoid filing for bankruptcy protection. |
Are your finances spiraling out of control? Get the information you need today to stop harassing creditor’s phone calls. Total Debt Relief provides a matching service to connect you with pre-screened Debt Settlement Professionals.
These debt management pros will educate you on all of the options available to you to get out of debt. Total Debt Relief helps you make the most informed decision possible so that you can get your financial life back on track. |
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