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January 2014 Archives

Credit card debt declines as economy improves

The numbers are in: for the last three years, the number of people filing for bankruptcy, including in Wisconsin, has gone down. There were just over 22,500 filings in the state in 2013, according to U.S. Bankruptcy Court records, a 9.5-percent decrease from 2012. Chapter 7 bankruptcies that can wipe out credit card debt, medical debt and utility bills represent 75 percent of the filings. This year, bankruptcy lawyers expect that filings will remain the same or drop lower.

Bankruptcy exemptions may makes bankruptcy easier

When debt becomes overwhelming, life can become extremely difficult. If unforeseen expenses must suddenly be met, even the best financial plan can fall apart. Any Wisconsin resident who finds it hard to stay current with his or her bills and other financial obligations and sees no other options should consider filing for bankruptcy in order to get from under the burden.

Country music star seeks debt relief through Chapter 7

Well-known country songwriter and artist Eddie Montgomery can probably write another song to fit the genre, but this one would be about the fresh start following a bankruptcy. Residents of Appleton, Wisconsin, may be interested to hear that despite a decade of success as part of the duo known as Montgomery Gentry that saw him win several music awards, the country star recently filed personal bankruptcy to discharge debts accumulated from a failed business and failed marriage.