Wisconsin Bankruptcy Law Blog

Your personal economics have a lot of impact on your ability to function within the Wisconsin economy. Things may be financially strong for the state as a whole, but if you're out of work or have recently faced an unexpected expense, it can spark a serious debt problem in your own household. You may be one of many people in this state who had to have surgery this year or who had to pay for much needed car repairs.  

Perhaps income tax is your main concern. The good news is that there are often several types of debt relief options, such as bankruptcy, that can help overcome financial problems that have gotten out of hand. The not-so-good news is that not all tax debt is dischargeable. To avoid complications when filing for bankruptcy, it is always best to seek clarification of eligibility requirements as well as to learn more about which types of debts you are able to discharge and which you will still be liable for after bankruptcy. 

As a Wisconsin small business owner, you likely could not have felt more proud than the day you opened the doors of your operation. You may have felt excited to get your company running and to provide your customers or clients with the product or service you crafted. For a time, you may have felt your business was on the rise.

Of course, as you likely knew before starting your company, many small businesses do not last, and unfortunately, your business has suffered considerable financial losses that have led to substantial debt. Now, you wonder whether you will have the ability to keep your business running and how you will be able to address your outstanding liabilities.

One of the reasons people hesitate to file bankruptcy is fear about the impact of bankruptcy on their credit. Paying attention to your credit is a good thing, but it should not keep you from investigating whether bankruptcy is the right option for you.

When considering bankruptcy, people often worry about being able to get credit again. The truth is, your bad debt has probably hurt your credit already. You should be focused on taking care of the debt now so you can move on. You can get credit after bankruptcy, provided you take the right steps to rebuild it.

Do you feel like every time you turn around, your home phone, cell phone or work phone rings and people claiming to be collection agents are telling you to send them money? Whether or not you believe you owe a creditor money, it doesn't necessarily mean that the calls you receive are legitimate.

First, there are a lot of scammers out there who use sneaky and manipulative tactics to fool people into thinking they are authentic agencies that have the right to call you to collect a debt. The Fair Debt Collection Practices Act protects you against creditor harassment. Facing financial problems is stressful enough without worrying about having to deal with angry phone calls every day.