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August 2014 Archives

Bankruptcy can provide respite from financial problems

With the economy of Wisconsin, and the United States as a whole, improving in the past couple of years, many people have been able to get control of their financial problems to an extent. However, there still remain others who have not been able to cope with the setbacks that occurred as a result of the economic recession. Those people are still struggling with medical debt, unpaid student loans, home mortgages and credit card debts.

How can student debt default be prevented?

Many students in Wisconsin, and the rest of the nation, finance their educations with a student loan. However, after graduating into the workforce, many are left without a job, or a job that pays less than they had expected. Because of this and other reasons, student loan defaulters have now become a serious cause of concern for the United States of America.

Advantages and disadvantages of Chapter 7 bankruptcy

Declaring bankruptcy is typically the last step for a business, made only after all other means of restructuring finances have been proven futile. There may be various options for a corporation under various provisions of the law to file for bankruptcy.

Advantages and disadvantages of Chapter 13 bankruptcy

A Wisconsin resident may easily agree that filing for bankruptcy is an important decision that could affect one's self-image and one's personal financial status. Various provisions are made under the law for filing for bankruptcy in the United States. Under Chapter 13 bankruptcy proceedings, the debtor may undertake reorganization of finances after approval and subsequent supervision of a federal bankruptcy court.

New methods for protecting homes against asset forfeiture

Asset forfeiture refers to any form of relinquishing assets, whether property or money, due to a breach or failure to perform a legal obligation. Relinquishing assets, in some cases, is ordered by the court. Asset forfeiture is not uncommon in a divorce situation, especially if the divorce becomes complicated.