How Do You Deal With Mounting Debt?

Seeking Debt Relief Solutions?

Debt is on the rise. In Texas, business bankruptcies increased by 42 percent over the last year. Student loan debt is a nationwide financial crisis. What can an individual do about mounting debt? David Shuster is a bankruptcy attorney in the Dallas - Ft. Worth area. He explains what those with rising debt can do, and why an attorney is crucial to your financial strategy. Contact him now at 888-365-0921.

Video Transcript:

I'm Rob Rosenthal for AskTheLawyers.Com and this is Ask The Lawyers…

Even though the economy in much of Texas has been strong lately, not all the numbers are rosy. For example, Texas companies are filing for bankruptcy at near record levels… according to the Texas Lawbook, in 2017 the number of companies filing for bankruptcy in Texas jumped more than 42 percent over the year before… and experts say before the end of this year, the number could climb even higher.

On the consumer side of things, some of the numbers are just as disturbing… in Texas and specifically in the Dallas – Fort Worth area, the rapid rise of new home prices, combined with student loan debt and larger down payment requirements is pushing more and more home buyers into the rental market.

Attorney David Shuster, of Shuster Law in Dallas – Fort Worth, a debt relief expert, says student loan debt has become a huge problem in the U.S. And many people are overwhelmed…

"Student loans have become a problem. Nearly 75% of existing non-revolving debt in the U.S. is student loans. I believe eventually something will have to be done to deal with this problem, either through the courts or by Congress."

Attorney Shuster adds:

"The bankruptcy process is very complicated and not something a consumer should attempt to tackle on their own. He says relief is possible, but finding a qualified, experienced attorney is crucial."

If you have questions or need a lawyer… visit AskTheLawyers.com.

I’m Rob Rosenthal for AskTheLawyers.com

Disclaimer: This video is for informational purposes only. In some states, this video may be deemed Attorney Advertising. The choice of lawyer is an important decision that should not be based solely on advertisements.