Company to reopen plant making cosmetics
Companies that look to restructure following major setbacks or debt problems often turn to bankruptcy filings and proceedings to help with debt relief or to provide the time needed to reinvent the organization. This restructuring can affect things as critical as a company’s main product and business plan, resulting in a different operation than before […]
Designer bounces from bankruptcy to the runway
Filing for bankruptcy is a difficult undertaking for many people. In this economy, however, many families are looking for any kind of debt relief. Although the bankruptcy process may be upsetting, there is hope after a bankruptcy is discharged. Designer Betsey Johnson discovered this after celebrating her first fashion show after bankruptcy during Fashion Week. […]
Don’t let these bankruptcy myths affect your decision
It’s never easy to find yourself thinking about bankruptcy, as this means your finances are in bad shape. However, if it’s the best way to regain financial control, it’s an idea you absolutely need to consider. There are many bankruptcy myths that can affect the decisions you make, so you need to beware of these […]
Debt collector got it wrong, court rules
There are few things more tenacious that an unpaid student loan. The U.S. Department of Education pulls out all the stops to collect from borrowers who default on loans that it guarantees. People who file for bankruptcy often discover those loans are still hanging around when a collection agency comes knocking on the door. Discharging […]
Cross collateralization can leave people with hard choices in bankruptcy
Credit unions are a popular alternative to traditional banks for many people. Members say they enjoy an atmosphere that is more focused on the customer and the better rates they can sometimes get on loans and savings accounts. However, credit unions often use cross collateralization with their loans, which can be detrimental to the borrower, […]
What happens if a creditor contacts me during or after my bankruptcy?
If you are in debt, you may already be familiar with the protections you have against creditor harassment under Wisconsin and federal law (i.e. the Fair Debt Collections Practices Act). These laws protect you against debt collectors using misleading or abusive tactics when attempting to collect a debt against you. However, you may not know what happens […]
Wage garnishments a threat for those struggling financially in Wisconsin
Many people are struggling to make ends meet in Wisconsin as the economy slowly begins to recover from the Great Recession that started in 2008. Even those who are lucky enough to still have jobs are having difficulty paying their bills, and many are falling further and further behind. Creditors have become more aggressive in […]
5 common bankruptcy myths that you shouldn’t believe
Bankruptcy is a powerful legal tool, but it is one that many people do not really understand. There is as much misinformation floating around about bankruptcy as there is accurate information. Arguably, the average person probably knows more myth than legal truths about bankruptcy. The five myths listed below are among those that could have […]
Credit card debt in America: You’re not alone in debt
Most Americans have one thing in common: They’re dealing with thousands of dollars in credit card debt. The average amount of credit card debt for men is around $7,407. For women, that amount is $5,245. The average amount of debt in the country is $5,315 per adult in 2021. In 2019, that amount was $6,194, […]
Which bankruptcy should you choose? 3 tips to help you decide
Selecting the type of bankruptcy you should choose might seem difficult, but the truth is that there are some significant differences between the types of bankruptcy that should make it easier for you to choose. The two main types of consumer bankruptcy include Chapter 13 and Chapter 7. Chapter 7 bankruptcy is best used in […]
