It’s a new year. What are you going to change? What are excited about? How about getting your financial house in order? If you have been wrestling with debt, now is the perfect time to take care of it. Find out why.

Develop a plan for dealing with debt

With the chaos of the holidays now past, the New Year is an optimum time to get a handle on your financial picture. Sit down and look at the true cost of your expenses. After tallying up the cost of your mortgage, rent, food, gas and utilities, how much is left over to cover expenses. If you are coming up short, it is time to look at solutions for managing debt. Find out your options.

You have choices. Mortgage modification, debt settlement and bankruptcy are all worth exploring. Talking to an attorney about your situation will give you perspective about your own situation and provide you with the information you need to make an informed decision about what is right for you.

Wisconsin is a unique state that offers two ways of resolving debts that protect you from court actions such as bank levies and wage garnishment. Individuals can pursue bankruptcy as well as Chapter 128 reorganization to deal with debt.

Put your tax return to good use

Once you have settled on a path, you will need a way to execute it. Tax time is a great way to make it happen. Before rushing to pay off debts with your tax return, put that money to good use. Use your tax return money to cover bankruptcy filing fees and any other costs associated with resolving your debts. Before you know it, you will be on your way to a new beginning.