As we have discussed in past posts, student loan debt can be extremely hard to get rid of, even for people who file for bankruptcy because of crippling medical debt. That’s why a member of Congress has proposed a small change in the consumer bankruptcy laws that would allow “medically distressed” individuals to have their student loan debt discharged during bankruptcy.
Some Wisconsin residents are reluctant to file for bankruptcy protection because they are afraid that it will permanently affect their credit scores. However, by taking the right steps, it’s possible to rebuild credit after filing for bankruptcy.
Even though the economy has improved since the recent economic recession, there are still many people in Wisconsin and the rest of the country who are struggling financially.
How can filing for bankruptcy help?
This week, our blog is devoted to the topic of “life after bankruptcy.” Yesterday, we highlighted rebuilding credit and establishing emergency savings after bankruptcy. Today’s focus will be on qualifying for an auto loan.
This week on our blog is devoted to "life after bankruptcy." Today's focus will be on rebuilding credit and establishing emergency savings.
As we briefly discussed in our last post, creditors are sometimes able to get permission from the court to start garnishing your wages in order to start getting money back on the debt you owe. Of course, this is an extremely stressful and infuriated thing to go through for someone who is struggling financially.
As any Wisconsin resident with a bad credit score knows, those three little numbers can have a major impact on your life. Potential lenders look at a person’s credit rating when determining whether or not to provide a loan or credit card. Having a poor score, therefore, can close a lot of doors.
Milwaukee residents who come into our offices for the first time are often exhausted and anxious. They have typically been harassed endlessly by creditors and are overwhelmed by the burdens of debt.
In ancient Greek legend, the Gordian knot was akin to the sword Excalibur in the Arthurian legends. According to prophesy, anyone who could untie this incredibly intricate knot was destined to rule all of Asia.