If you encountered a financial crisis that made you unable to make payments on your home loan, you may be at risk for foreclosure. A lender takes back possession of a property when a mortgagor can no longer make payments through this process. In such situations, your loan is said to be "in default." Facing a foreclosure threat on your Wisconsin home can be highly stressful even though the threat does not necessarily mean it will happen.
Facing overwhelming debt is frustrating, especially when that means that a person is also dealing with phone calls from creditors, collection letters, the threat of repossession and more. For older people, having a lot of debt is particularly concerning because many do not have the ability to earn more money or pay down their balances. Many elderly individuals in Wisconsin and throughout the United States are choosing to file for bankruptcy.
As a Wisconsin business owner, you understand that your company's financial status is going to fluctuate alongside national, local and global economies. You may have a few consecutive stellar years, then a financial crisis hits you. If you have a strong support team in place, you may be able to make a few adjustments, implement creative ideas and bounce back without any far-reaching, long-term negative consequences.
The holidays are often a time where caution is thrown to the wind and money is spent to ensure happy memories. If you are anything like the average American family, you likely spent somewhere between $500-$1,500 on gifts this holiday season. Now that the holidays are over and the particles of wrapping paper dust have settled on the receipts, it's time to get serious about your plan to dig out of debt.