Wichita Falls, Texas Bankruptcy

The city of Wichita Falls in Texas is facing a major financial crisis. After years of budget deficits, the city has officially declared bankruptcy. This is the first time in Texas’s history that a municipality has gone this route to address its fiscal woes.

The decision was prompted by a number of factors, including state legislation passed in 2003 which limited cities’ abilities to raise taxes and create new revenue sources. The economic downturn of 2008 also contributed to the city’s declining financial health, as local businesses and government agencies saw their income levels drop. Finally, after months of deliberation, Wichita Falls officials decided that filing for bankruptcy was the only viable solution for their current situation.

Wichita Falls residents are now bracing themselves for what comes next; with bankruptcy looming on the horizon, it is unclear how exactly this will affect them going forward.

The Law Offices of Omar Zambrano has helped thousands of people and businesses in the past to get out of debt and start over.

Our goal is it to help you find a fresh start FAST!

Schedule your free consultation today! By Calling 626-338-5505 or visiting us at 12738 Ramona Blvd Baldwin Park CA 91706