In our last post, we looked briefly at some of the changes made by a recent bill signed into law by Governor Scott Walker. Those changes, as we noted, make it easier for creditors, including debt buyers, to validate debts in court and remove deterrents to pursuing ill-founded collection actions.
The Wisconsin Consumer Act is an important state law which was passed to provide protections for consumers in credit transactions and debt collection. Among other things, the law limits interest and non-interest charges in credit transactions; establishes the right to cancel certain types of contracts; requires judicial intervention for certain types of repossession; and requires disclosures of specific information in credit contracts and advertising
Now that we are well into the holiday season, people all across Wisconsin are scrambling to get many things done. There are events to attend, gifts to buy and trips to take. While the logistical complications of all these tasks can be hard enough, it is the financial obligations that come along with them that can put people over the edge.
Maybe you have significant debt, but you're not sure of whether you should file for bankruptcy. After all, filing for bankruptcy is a decision no one should take lightly.
Credit card debt is one of the more dangerous types of debt. Unlike a mortgage, where you know you are taking out a loan with a long, long repayment period, often 30 years, when you take out a credit card, it may cost you nothing. And if you don't use it, it still costs you nothing.
For the average American, visits to a lawyer's office may be rare. Car accidents, divorces and bankruptcies are likely to be among the most common reason they need to speak with an attorney. For some, there may be times when more than one of these needs coincide.
It’s always interesting to find out that high-profile and seemingly successful individuals actually have debt problems. This is especially true when the individual is Wisconsin Governor Scott Walker.
No one likes being in debt, and that’s why people will do just about anything to get out of it. But as a recent article from Time.com pointed out, there are some plans for getting out of debt that do more harm than good.
Many people in Wisconsin have significant credit card debt. Living with credit card debt can take a big toll on your life, including your emotional and mental well-being. A new study found that credit card debt may impact your life much more than you realize.
There is nothing worse than being bothered by a debt collection agency at home. Except for, of course, when the debt they are calling about is fake, or if the caller is not actually from the company you owe.