For Texans who are having financial challenges, bankruptcy might seem like an opportunity to get their situation straightened out and get back on stronger ground. In many cases, it is. However, it is imperative to bear in mind that there are also negative aspects to any bankruptcy filing, and understanding them before taking a certain course of action is wise.
Transport service for oil drillers files for Chapter 11
When a Texas company is having issues with its finances, it does not necessarily mean that the business that it operates is having a problem of its own making. It can also have to do with the company operating in a sector that is having overriding problems leading to a trickle down of struggles and making it necessary to consider options such as Chapter 11 bankruptcy. No matter the reason, seeking a reorganization under Chapter 11 is not something to be afraid of, nor is it anything to be ashamed of. It is simply a method of debt reorganization to get back on better financial footing or to wait for the industry situation to strengthen.
How FDCPA protects consumers from harassment for collection
People in the Tyler area who are overwhelmed by consumer debt might be fearful that the creditors are going to harass them non-stop until the debts are paid. Understanding how the Fair Debt Collection Practices Act (FDCPA) protects a person from unwanted communication with creditors can help with stopping the contact.
