Wisconsin Bankruptcy Law Blog

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, you home phone, cell phone or work phone rings and people claiming to be collection agents are telling you need 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.

After struggling financially for a substantial period of time, you may have come to the conclusion that you need serious help. The idea may have been frightening at first, but as you gain more information, you may realize that bankruptcy could truly help you get back on track. Of course, the process can have its complications, and you certainly want to successfully reach the end of your case.

In particular, you likely hope to reach the discharge portion of your bankruptcy proceedings. Many people find this part the most appealing aspect of this debt relief method, but they may not entirely know what it entails or that bankruptcy cannot discharge certain debts.

Any number of issues can land you in a heap of financial trouble. Perhaps you unexpectedly lost your job. Maybe you still have the same job you've had for the past 10 or more years but your employer is trying to find a way to save on overhead costs and no longer offers bonuses or incentives, which were large parts of your income.  

Medical urgency, a car accident, divorce or over-spending are other reasons people in Wisconsin and other states have cited in the past as key factors that took them from financially stable environments to not being able to make ends meet. Financial trouble is often a temporary problem. There may be several options available for overcoming a financial crisis in your life, some which may seem simple but are quite effective. You'll also be glad to know that experienced guidance is available to help you survive serious debt problems.