Overwhelming consumer debt is a harsh reality that affects many people in Smith County and the rest of Texas. While some of those people are in debt due to a difficult economic environment, others are in debt because of unplanned or surplus spending. Irrespective of how the debt was accumulated, the fact remains that people have to deal with creditors and debt collection agencies who are entitled to file a lawsuit against the debtor according to the provisions of the Fair Debt Collection Practices Act.
Financial problems can crop up suddenly without any warning. An accident can culminate in burdensome medical bills and given that such uncalculated costs can have a domino effect, it can go on to cause a range of difficulties including falling behind on credit card bills and mortgage payments.
In Texas, and the rest of the country, consumer debt is at an alarming level. Be it credit card debt, medical debt, student loan debt, home mortgage or a car loan, many people are struggling to keep up with regular payments due to financial difficulties that plague them. In fact, some people even have difficulties keeping up with the basic requirements, such as utility bills and day-to-day expenses for themselves and their families.