6 key things you should know when considering bankruptcy
Think about declaring bankruptcy? If so, be sure you know that: 1. You can choose between Chapter 7 and Chapter 13. These are very different, in that Chapter 7 uses asset liquidation and Chapter 13 uses a repayment plan. You may not be eligible for both. 2. Your credit is going to take a hit. […]
Can you file for bankruptcy if you did last year?
Perhaps you filed for bankruptcy last year, pulling yourself out of debt and getting a clean slate. Despite your best efforts, you’re already looking at mounting debt again, and you’re wondering if you can use bankruptcy yet again to get out from under it. You’re confident that what you’ve learned in the last few years […]
How Chapter 7 bankruptcy can change your life
Bankruptcy has taken on something of a negative connotation, perhaps due to the fact that you need to be struggling financially to consider it. The reality, though, is that it can be a hugely positive event for those who have run into financial troubles. For example, your wages may be garnished to pay your creditors. […]
Can you pay off your Chapter 13 bankruptcy early?
When you enter into Chapter 13 bankruptcy, a repayment plan is created. This may take 60 months to complete, and you have to stay current on the monthly payments. What you may be wondering, though, is if you can pay it all off early to get yourself out of bankruptcy. For example, this was the […]
The effects of bankruptcy on student loans
When facing serious financial problems, bankruptcy may seem like your best option. But will filing for bankruptcy provide any relief from your student loan debt? In Wisconsin, as in other states, student loan debt is extremely difficult to discharge through bankruptcy. However, there are options that will help alleviate some of the stress of dealing […]
What are some indicators that you need debt relief?
We all face debt from time to time, and many types of debt — like taking out a mortgage or buying the groceries on a credit card — are an accepted part of everyday life. However, what are some signs that things have gone too far and you need to look into your debt relief […]
Bad habits that can lead to bankruptcy
Bankruptcy is often caused by singular events that are unexpected, like the loss of a job or sudden high medical bills with no insurance. However, it can also be caused by bad financial habits that dig a hole over time. One issue, experts warn, can be using electronic payment options and setting bills up to […]
Do you lose all assets when filing for Chapter 7 bankruptcy?
Chapter 7 bankruptcy liquidates your assets. They’re sold off, the money is paid to your creditors, and the debt is erased. The money paid is typically far less than is owed, but it still gives the creditors something as you get a clean slate. Naturally, people are often rather concerned about doing this because they […]
Bankruptcy filings at lowest level in nearly a decade
Bankruptcy filings are often used as a gauge to measure some aspects of the American economy. As filings increase, it is assumed to be a symptom of individuals encountering hard times as they lose hours or jobs and they no longer have the income to pay their bills. When bankruptcy filings fall, it is presumed […]
3 bankruptcy assumptions that are false!
Are you contemplating filing for bankruptcy in Wisconsin? If so, you may think that this action will do irreparable harm to your credit score. Your spirits may be dampened by certain assumptions about bankruptcy that have been conveyed to you by your friends or family. Don’t panic because you are not alone! According to the […]
