College graduation is a great accomplishment. However, looming in the background for many Wisconsin graduates are overwhelming student loan debts. Although bankruptcy is not a viable debt relief option for most debtors with student loans, under rare circumstances some student loans can be discharged in bankruptcy.
Mortgage tax credit can help Appleton consumers eliminate debt
For potential home buyers wondering if they can afford to own a home, help is on the way. The Wisconsin Housing and Economic Development Authority recently approved a mortgage tax credit that can help potential homeowners to eliminate debt. For Appleton consumes that do not qualify for the program, there are other forms of debt relief available.
Opponents of gambling expansion concerned about overwhelming debt
Wisconsin already has 20 Indian casinos, but tribe members are fighting to open more. Opponents of more casinos argue that the state is already saturated with casinos, and some Appleton gamblers may agree, especially if they are one of the several thousand Wisconsin gamblers struggling to eliminate debt that accumulated from gambling.
Appleton debtors can avoid fraud when filing for bankruptcy
An accountant was recently convicted of committing fraud by fraudulently concealing $700,000 just before filing for bankruptcy and failing to report the funds to the bankruptcy trustee. Appleton debtors should be aware that bankruptcy exemptions allow debtors to keep some of their cash in their possession without committing fraud.
Tax breaks for homeowners seeking debt relief set to expire soon
Appleton, Wisconsin, homeowners may be interested to know that certain benefits for distressed homeowners may soon be coming to an end. The Mortgage Forgiveness Debt Relief Act of 2007 offers income tax debt relief to struggling homeowners when lender forgives a portion of the principal owed on a mortgage.
