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May 2016 Archives

Automatic stay provides relief for debtors from collection activities

Last time, we looked briefly at the increased incidence of medical debt collection litigation in states with low court filing fees. As we mentioned, debt collection litigation can be very difficult and disruptive to debtors, but it is something that can be addressed in the bankruptcy process.

Debt collection litigation disruptive to financially stressed patients

Medical debt is one of the most challenging forms of debt Americans face. Numerous studies have shown it to be among the most common forms of debt cited in bankruptcy, and it is also probably the form of debt that goes into collections the quickest. For those who have been struck by a medical crisis, it can be overwhelming to have to deal with debt collectors clamoring to be paid. This is especially the case when debt collectors initiate litigation against debtors.

Clothing retailer to undergo major retail cutbacks as part of bankruptcy reorganization

Staying competitive and thriving financially over the long-term is no easy matter for any business. Constant adaptation, innovation and foresight are necessary to ensure a business' success over the long haul. Every business owner has experienced seasonal and temporary challenges, but when a business begins to encounter serious problems, when it is threatened with insolvency, its leadership has to address the situation appropriately.

Looking at the filing requirements for bankruptcy, P.2

In our last post, we looked very briefly at the basic requirements for Chapter 13 bankruptcy in the context of discussing the myth that bankruptcy is an easy way out of financial troubles. As we noted, most debtors who file for bankruptcy do not look at bankruptcy as an easy way out, but rather as a last resort, and the eligibility requirements and effects of bankruptcy do a good job of screening out those who really just want an easy solution.

Looking at the filing requirements for bankruptcy

Last time, we commented briefly on one of the most common myths regarding bankruptcy: that it is the easy way out or lazy way to deal with burdensome debt. As we noted last time, though, the vast majority of those who file for bankruptcy do not do so as anything other than a last resort. In addition, the bankruptcy requirements are such that those who meet them are generally in a position where they cannot handle their debts on their own.

Myth: bankruptcy is the easy way out

In recent posts on this blog, we've been looking at some of the alternatives to filing for bankruptcy. We've looked briefly at options like credit/debt counseling, debt settlement, consolidation of debts, liquidating assets, and generally making lifestyle changes to reduce monthly costs. We've also looked at filing a Chapter 128 action as a bankruptcy alternative.

Looking at bankruptcy alternatives, P.2

Last time, we began looking at several alternatives to bankruptcy, including debt consolidation loans, debt settlement and credit/debt counseling. Another bankruptcy alternative for Wisconsin debtors is commonly known as a Chapter 128 proceeding. In such an action, a debtor establishes a personal receivership in which he or she may gradually reduce burdensome debts through a repayment plan.

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Reach Miller & Miller Law, LLC, online or call us at 414-326-9231 to schedule a free initial consultation. Our law office also provides Spanish language services. Se habla español.

To schedule an initial consultation, call 414-326-9231 or contact Miller & Miller today.

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