One minute you're fairly satisfied with the way things are going in your financial life. The next thing you know, a few incidents occur that you leave you struggling to make ends meet. That's not enough to make you panic, however, but before you know it, everything seems to be spiraling out of control, and you know you need to do something before the situation gets completely out of hand.
For people buried in debt, it can be difficult to imagine what life will be like when that debt is no longer there. The decision to file bankruptcy is a difficult one for many people in Wisconsin, yet it offers many benefits and advantages.
Are you one of the numerous Wisconsin residents struggling to make ends-meet? Like many people, you might live paycheck-to-paycheck. Sometimes the money runs out before another paycheck arrives in your bank account. Many people in this situation turn to payday loans as the answer. Have you fallen into this trap?
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.
If you and your spouse are like most married couples, then each of you handles different household and financial responsibilities. Maybe you've been in charge of most of the domestic matters like taking care of the kids and making your home a comfortable place to live, while your spouse has overseen bank accounts, the mortgage and other investments.
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.
If you are considering bankruptcy but are worried it may be hard to regain your financial footing, relax. For many people bankruptcy is the only way to free themselves from debt and move on to a less stressful financial future.
When the economy took a major hit a few years back, many people here in Wisconsin had their lives severely impacted. Some recently released statistics indicate that the effects of this economic turmoil have continued to linger in the state and may be influencing consumer behavior.
In our last post, we discussed a U.S. 6th Circuit Court of Appeals decision that could afford consumers more rights when facing debt collectors. Essentially, the decision further tightened a Fair Debt Collection Practices Act requirement that debt collectors verify the legitimacy of the debt being sought.
Government officials are warning that many debt settlement companies are beginning to take advantage of Americans with hefty student loan debt.