Bankruptcy isn't something to be ashamed of. In the past, having to seek this protection was usually kept a secret. Now, we realize that filing bankruptcy is actually more responsible than just avoiding your creditors.
You know that bankruptcy is coming. You owe $25,000 on various credit cards. You lost your job through no fault of your own -- the company went under and all the employees lost their jobs -- and now you're just working part time.
Debt is not partial to any particular group of people. No matter where you come from or where you have been, you might find yourself in a financially poor situation.
Most of us can remember the poor economy at the end of the last decade. According to U.S. Bankruptcy Court records, bankruptcies peaked at nearly 30,000 filings in 2010. However, it appears that the economy might be on the upswing after all. Since 2010, the number of filings has been steadily decreasing.
Kimberly-Clark plans on cutting more than 5,000 jobs and closing 10 facilities across the globe, according to an announcement by their leaders this week. In case you didn't know, Kimberly-Clark, who makes paper products, such as Huggies, Kleenex and paper towels, was founded in Neenah in 1872. While now headquartered in Dallas, it still employs about 3,200 people in the Fox Cities.
When it comes to filing personal bankruptcy, which is better: Chapter 7 or Chapter 13?
Many people think filing bankruptcy is reprehensible, but the truth is that it is a legal process that can help individuals or couples who are going under financial strain to get back on track with a new start in life.
People experiencing financial difficulties often go through a tremendous amount of stress, sometimes even letting it take a toll on their health. Trying to find ways to come up with money to meet financial obligations can leave you feeling like you are all out of options. Before that happens, consult with a financial attorney. There are usually options available that can immediately stop collections, help you keep your property and relieve that burden of stress.
As attorneys, we have seen far too many of our Wisconsin neighbors struggle with overwhelming medical and credit card debt. Despite the many benefits filing a bankruptcy can offer, most people resist this solution for as long as possible. When they do realize bankruptcy is the best and most logical option, many forge ahead without learning as much as they can about the process.
If you live in Wisconsin, you already know that our state is as unique as those who populate it. Unfortunately, there are some life circumstances in which we are not unique, such as suffering with financial difficulties. Just like other people living in the U.S., Wisconsin residents can experience overwhelming debt.