People get into debt for a variety of reasons. Whether you ended up there through a job loss, unexpected illness or injury, or some other monetary calamity, you now need to find a debt relief option that allows you to get back on your feet financially.
Here's a great article by Kristina from credit sesame:
The answer is yes. Bankruptcy will get rid of the debt but will not stop your mortgage company from taking your home back via the foreclosure process.
From Milwaukee to Racine, Saukville to Waukesha, people in Wisconsin are coming to Miller and Miller, eliminating or reorganizing their debt, and getting the fresh start they deserve. One way of rebuilding credit after a bankruptcy is obtaining a prepaid credit card. If you are considering this option, keep reading the article below by John Ulsheimer:
The credit report dispute process is fairly mysterious, which means most people don't actually know what happens when they file a dispute with a credit reporting agency. Here's a step by step process that should help clear things up a bit.
1099-C In the Mail? How to Avoid Taxes on Cancelled Debt (via Credit.com)
The Huffington Post chronicles this incredible story in which a debt collector allegedly called 911 on an 85 year old woman:
There is no perfect time to file for bankruptcy. Ideally, you should wait to file at a point when you have not touched your credit cards for several months and your credit card charges over the past year have not taken a big jump. Further there is less chance that you will face any objection if you have made at least the minimum payment over the past 6 months or longer.
Over at the MintLife Blog they recently had a great article on overpriced children's items. After getting a fresh start through bankruptcy it is important to look for ways to keep costs down so that you are able to build a strong financial future. We all want to give the world to our children, but if you can do that while saving a buck it's even better.
C. Lazarus from the Savings Experiment has a great article here on one way to manage your finances called the 50/20/30 budget. It's a great read and a great idea. After getting a fresh start through bankruptcy, many of our Wisconsin clients are able to build on that clean slate by savvy budgeting.