Two Bills May Reclassify Student Loans On behalf of Debt Advisors, S.C. Many former students experiencing financial difficulties must choose between paying for basic living expenses (such as food and rent) and their student loans. They commonly defer their payments to avoid default, but this does not prevent interest from accruing on the loan and…

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Mortgage Modification Mediation Program Available for Chapter 13 Debtors in WI On behalf of Debt Advisors, S.C. The U.S. Bankruptcy Court for the Eastern District of Wisconsin employed a Mortgage Modification Mediation Program (MMMP) in Wisconsin this spring. Chapter 13 debtors are able to take part in the mediation program and participation is voluntary. The…

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New Garnishment Rules Aim To Protect Social Security Benefits On behalf of Debt Advisors, S.C. What is Wage Garnishment? Wage garnishment is a legal remedy that allows a creditor to take money directly from a bank account or you paycheck. If the creditor sues you to collect a debt and wins a court judgment against…

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With a Tough Economy, Bankruptcy Helps Many Out of Economic Troubles On behalf of Debt Advisors, S.C. Continuing an upward trend since 2007, bankruptcy filings in Wisconsin continued to climb in 2010. In fact, for the last decade, the number of bankruptcies filed last reached a level only second to the number of filings in…

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Proposed Regulatory Changes Would Reduce Foreclosure Threats On behalf of Debt Advisors, S.C. The attorneys general of all 50 states and the heads of five federal agencies are united in support of a series of reforms of the mortgage industry. A 27-page document sent to the five largest home mortgage firms in the U.S. in…

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Wisconsin Bankruptcy Filings Continue to Rise On behalf of Debt Advisors, S.C. Although the United States is now said to be out of the “Great Recession,” bankruptcy filings continue to rise nationwide. According to the U.S. Bankruptcy Court, “bankruptcy filings rose for the fourth consecutive year in 2010.” In fact, there was a 9.4 percent…

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On behalf of Debt Advisors, S.C. Although the United States is now said to be out of the “Great Recession,” bankruptcy filings continue to rise nationwide. According to the U.S. Bankruptcy Court, “bankruptcy filings rose for the fourth consecutive year in 2010.” In fact, there was a 9.4 percent increase in national bankruptcy filings in the past…

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On behalf of Debt Advisors, S.C. In Wisconsin, foreclosure filings fell in November to their lowest total in two years. With unemployment rates rising, this was a curious development. Analysts were quick to point out that this apparent good news masked the real reason for the decline. For the past few months, there have been…

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Most people do not consider bankruptcy the best option-at first. But for many in Wisconsin, the debt elimination offered by Chapter 7 or the structured repayment plans offered by Chapter 13 can be a real life-saver. Even if you’re scared of bankruptcy due to old stereotypes, it’s good practice to get advice from the experts.…

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Three companies, Equifax, Trans Union and Experian, monitor individual credit, and a 2004 study revealed that a quarter of all reports had errors that could lead to a credit denial. Experts suggest obtaining your individual report from all three agencies before you apply for credit, especially if you are in financial hardship. Copy Of Credit…

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