With the New Year's arrival, many Wisconsin residents may resolve to take care of their debts and save more money. This is an admirable goal, and certainly one that can be achieved. However, it often requires extensive planning and sacrifice. We hope that those struggling with debt will find the following tips helpful.
Debts that linger after Chapter 7 bankruptcy
Debt can be soul-crushing. Those who wake up every morning facing the uncertainties thrust upon them by financial challenges may be on the lookout for debt relief options, but may not know which route is best for them. These individuals might benefit from discussing their difficulties with a legal professional who can discuss the options available. With that being said, our law firm hopes that this blog, while not providing legal advice, can help shed some light on debt relief options and leave our readers better educated.
Chapter 13 payments and new debt
Nearly everyone has experienced financial challenges at one point or another. Some of us are fortunate enough to find relief and claw our way out of debt. Others, though, may find themselves feeling overwhelmed and hopeless. For these individuals, more formal forms of debt relief may need to be sought out. Bankruptcy may be a legitimate plan for many of these individuals. Chapter 7 and Chapter 13 bankruptcies may allow a debtor to discharge debt and find the new start they need. But many Wisconsin residents may find themselves asking how the process will affect their day-to-day life.
How is Chapter 7 bankruptcy initiated?
Bankruptcy is a complicated process. Yet it is one that may be well worth the work and the wait, as a successful bankruptcy claim may allow an individual to escape burdensome debt and find a fresh financial start. This is especially true for those who successfully seek Chapter 7 bankruptcy, which is also commonly referred to as liquidation. But how is the process initiated?
Facing financial woes? Our firm stands for debt relief
Nowadays, it is not uncommon to face financial challenges. If and when that time comes, you may find yourself seeking relief. There are a lot of options out there, and many promise to provide you with the financial stability you desperately need. Yet, as was discussed last week on the blog, many debt relief options, including debt consolidation, pose significant financial risks that, if not approached properly, could lead to unintended consequences.
