Data recently released by the U.S. Bankruptcy Court for last year shows that Wisconsin continued to see a reduction in the number of bankruptcies filed in the state in 2018. The number of people pursuing this type of debt reduction starting trending downward once the economy started recovering in 2010 after the 2008 recession.
Bankruptcy: Why does it happen to careful people?
There is sometimes this assumption about bankruptcy that it happens to people who spend recklessly and make obvious mistakes. While you can certainly find these situations, the reality is that careful people also find themselves facing financial problems and bankruptcy. It can happen to anyone.
Deciding whether to file Chapter 7 or 13 bankruptcy can be hard
If you've lost a job or are drowning in medical bills, then calls coming in from collectors can be like salt in a wound. Their unrelenting nature may leave you searching for a solution to get them to stop. While bankruptcy can provide the type of relief that you're looking for, you may not know whether it's most appropriate to choose between Chapter 7 or Chapter 13.
Can you keep your home during bankruptcy?
For many people, their home is their largest investment. If you face financial hardship, it is extremely discouraging to think you might lose your home in the process. However, there is still hope.
What should you keep in mind when debt gets overwhelming?
People don't plan to get into overwhelming debt. However, it happens to more people than you might expect. The future is unpredictable, and unexpected events can turn what was once a stable debt load into something seemingly completely out-of-control.
Missing credit card payments can have significant impacts
Certain things have the potential to cause significant damage to a person’s finances. One of these is missing credit card payments. This is because of the consequences falling behind on such payments can trigger. These include:
