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Timing of Bankruptcy Saves Home & Car

Timing Matters When Filing Bankruptcy

Some may benefit by filing bankruptcy early in the year, while others may wait until after tax returns. If you’ve recently had a bankruptcy discharge, then you can’t file too soon. As a problematic financial situation sits too long, waiting to file has its own set of risks. One thing is for certain; when it comes to filing personal bankruptcy, timing matters. The bankruptcy code, one’s relationship status, the type of bankruptcy being filed, a pending home foreclosure or car repossession, and many other different factors play a role in determining the best time to file bankruptcy.

Because the timing of the bankruptcy filing can make such a difference in the outcome of a bankruptcy case, it’s important to seek legal advice right away. The experience and guidance offered by a Debt Advisors bankruptcy attorney is just a call away. During your free initial consultation, and meetings that proceed, all options will be evaluated to determine the timing that would have the best outcome.

Here are two recent cases that provide a glimpse into just how important timing can be.

Timing of Bankruptcy Saves Home & Car

Because the timing of the bankruptcy filing can make such a difference in the outcome of a bankruptcy case, it’s important to seek legal advice right away. The experience and guidance offered by a Debt Advisors bankruptcy attorney is just a call away. During your free initial consultation, and meetings that proceed, all options will be evaluated to determine the timing that would have the best outcome.

Here are two recent cases that provide a glimpse into just how important timing can be.

Quick Action Stops Home Foreclosure Proceedings

When multiple mortgage payments are unpaid, the mortgage lender has the right to take possession of and sell your home. In order to stop home foreclosure immediate legal action is required.  This example is about a Wisconsin resident who realized at the last hour that they were truly in imminent danger of losing their home. The homeowner notified Debt Advisors Law Offices to see if they could help stop foreclosure. During their free bankruptcy consultation, the homeowner shared important details about their desperate situation.  Debt Advisors attorneys and their bankruptcy team acted quickly against the ticking clock. A chapter 13 bankruptcy petition was filed immediately which stopped any advancement of the foreclosure process. Within 24 hours of the real estate taxing authority taking title of the client’s home, Debt Advisors experience and quick action saved it. Had the homeowner waited just a day longer to file bankruptcy, this case may not have had the same outcome.

Quick Action Can Get Car Back From Repo

Over the years, Debt Advisors Law Offices has retrieved thousands of vehicles back to their owner. When a series of loan payments aren’t received, lenders won’t hesitate to repossess the vehicle. Not having required auto insurance can have the same unpleasant result. If you wait too long to try and negotiate with the creditor, or if you try to run from the payments, it will eventually catch up to you. When least expected, vehicles are picked up and taken away; leaving folks with no reliable mode of transportation. If you find yourself in this situation bankruptcy may get your repossessed vehicle back. However, the petition to file bankruptcy must be done within 15 days of the repo. This was the case for a recent client who called on Debt Advisors for help. The vehicle was taken by the lender due to loan payment default. The client didn’t fully realize the severity of the situation until the vehicle was gone. Desperate to get it back, a bankruptcy petition was filed about 10 days later and the car was returned to owner.

Is Your Bankruptcy Timing Right Now?

If you’re in a time-sensitive situation that involves losing a home or getting your car back, you may need to file bankruptcy. Every state including has its own laws about home foreclosure, vehicle repossession and bankruptcy. Attorneys at Debt Advisors Law Offices are familiar with Wisconsin laws and experienced in helping people in your situation. When it’s down to the wire, the call you make to Debt Advisors Law Offices may be the single action that saves the day. Fill out the form on this website or call toll free at 888-660-5413 to make an appointment.

Communication With Debt Advisor Attorney

Talk With Attorney During Free Bankruptcy Consultation

Debt Advisors is dedicated towards helping people just like you through the bankruptcy process. Your initial bankruptcy consultation is conducted over the phone. It can be requested by simply calling any of one our 7  Wisconsin Bankruptcy Offices, or by filling out the online form found on our website. The conversation during this call is with a bankruptcy attorney, and it typically lasts around 15 minutes. This is our chance to hear you out regarding your financial struggles and other situations to determine if credit counseling, bankruptcy, credit repair, or suing a creditor may be warranted.

“No obligations and no pressure. We want you to be in control & well informed.”

Meet In Person with a Debt Advisors Attorney

Congratulations! Making that first call is the most difficult thing to do, and now you have moved past it. If you agree to move forward, then the next step after the phone consultation is an in-person meeting. At the office location of your choice, you’ll have a chance to get to know our team and your bankruptcy attorney face-to-face. (We think you’ll like us!) We will review thoroughly the “intake” paperwork we emailed to you after the initial phone consult.  It’s rare, but occasionally clients can get frustrated with us when in reality, the process is held up because we are waiting for something from them. The quicker you respond to our requests, the quicker we can, want to…and WILL help you. As always, if you have a question, feel free to call our office. Our staff is patient and friendly, and eager to help.

As bankruptcy attorneys, we know exactly what to look for when analyzing items such as debts, assets and income. We’ll need all of this pertinent information to make the appropriate recommendations to solve your financial burdens. Occasionally we can provide more than one option. Either way, if you chose to work with Debt Advisors Law Offices moving forward, you can officially retain one of our bankruptcy attorneys at this meeting. (Start the bankruptcy process for as little as $100.00.0) The moral basis of our law firm is very strong. We never have you fill out paperwork or agree to anything unless you have clearly indicated to us that you fully understand and agree to the terms.

You’ll leave this meeting with clear expectations and directions for what to do next.

Open Communication & Support from Your Attorney

Bankruptcy lawyers  work in a very fast-paced environment handling requests for debt relief, resolving disputes, dealing with trustees, banks, creditors, collectors, clients, etc. (Not to mention preparing for and appearing in bankruptcy court.) Like many of our clients, we also have families that we enjoy spending time with. If we are out of the office for any reason, we want you to know that we NEVER leave you, (our clients) hanging. Our team of bankruptcy attorneys, office managers, paralegals and other office staff are always supportive and helpful. If we can’t get to your call immediately, our office will take your information and ensure that your call is returned within 48 hours. Not all bankruptcy lawyers will show this kind of personal response.

Our office is open six days a week. Once you hire us to represent you, we communicate through various methods such as by phone, email, mail, in-person and chat. Be sure to provide the best email/phone for future communications because our office will be using the information you have provided.

“We are going to give you plenty of chances to ask more questions.”

Bankruptcy Process & Beyond

We are always here to help our clients. Sometimes bankruptcy is the right answer, and sometimes it’s not. During all of these points of communication, all options will be considered. You’ll have open and honest conversation about bankruptcy can and cannot do. If it’s determined that bankruptcy is the right course of action, then you can expect your lawyer to file a bankruptcy petition on your behalf to enforce the “automatic stay.” A court date will be assigned by the court. If you decide to file bankruptcy, we may meet once or twice more before bankruptcy court.  As long as we have good responsive communication from our clients, a Chapter 7 bankruptcy petition can be filed quickly and efficiently, and debts discharged in approximately 4 months. We love the sighs of relief and gratitude we get from people when their debt has been eliminated. Helping people is our greatest satisfaction. After bankruptcy, we help our clients build credit scores and obtain loans to buy a home or car.

“Our guidance is available through the entire bankruptcy process and beyond.”

Senior Citizens Benefit from Bankruptcy

Bankruptcy After Retirement

Research suggests that the number of bankruptcy filers who are older than 65 years of age is increasing and possibly higher than it has ever been. Why is this? We already know that the two biggest life-changing events that lead to bankruptcy are unexpected medical expenses and divorce. Unfortunately, these things can still happen after the age of 65. Living on a fixed income after retirement and the addition of more debt can just exacerbate any financial problems that were already there. Not to mention; the debt load carried by older Americans has been increasing. This could be due to a variety of factors; such as debt accumulation prior to retirement, insufficient income to retire, unexpected medical expenses, or other unplanned life events.
 

What causes people 65+ to file bankruptcy?

  • Companies offer fewer benefit plans, and even fewer offer pensions to supplement retirement.
  • Many people fail to invest or save enough to carry them through retirement.
  • Many retired citizens depend mostly on social security for income.
  • Older folks today are carrying higher debts in mortgage, credit cards & unpaid student loans.
  • Social Security checks can be garnished for government loans.
  • Divorcing after retirement can lead to bankruptcy.
  • Unexpected medical ailments are more common as we age; rise in medical bills fueled by the rise in costs for medical services & insurance.

Most Americans are already living paycheck-to-paycheck. After retirement, those who don’t have the ability to increase income could find themselves in a really tough place financially. Those who have recently retired, or folks who have been living on a fixed income for a long time are equally at risk for problems that lead to bankruptcy. However, bankruptcy is viewed as a positive, rather than negative action.
 
Focus on What you CAN Control

You are retired after all, not dead! There are things that you can do at any point in life to change things, so let’s focus for a moment on what you can control vs what has already been done.

  • Knowledge is Power. It’s never too late to make a positive change, no matter what your age. Adjust spending to any rise or fall in your monthly income. Look for ways to cut back or get rid of things which are not necessary. Talk to family. Ask for help from licensed professionals who offer free consultations. Do what you can to budget. Small changes can pay off bills and avoid falling further into debt.
  • Debt consolidation. Consolidation can be realistic place to start. You may consider Wisconsin Chapter 128 or Debt Consolidation because it allows for the creation of a court-ordered plan for the repayment of debt. Like bankruptcy, this option can also stop creditor harassment, wage garnishments and other forms of collection activity while negotiating more favorable payback terms with your creditors.
  • Bankruptcy for Older Adults. Calls from collection agencies can leave anyone feeling helpless, and may have an even bigger physical impact on older people. The golden years don’t have to be tarnished by unwanted debt and unwanted harassment. All the stress and financial hardships that come with excessive debt may be reduced or eliminated through filing chapter 7 or chapter 13 Thankfully, filing bankruptcy has no age limitations; senior citizens can benefit from bankruptcy protections and benefits.

 

Consult Licensed Bankruptcy Attorney For Advice

You are not alone in this. Don’t let pride prevent you from gaining the control and resolution that may be found in filing bankruptcy.  The last thing you want to do is spend more time worrying and replaying bad financial decisions. Before you sell your home to pay a back mortgage or make a desperate move, consult one of our Debt Advisors licensed bankruptcy attorneys.  Ask for a free consultation. In a short conversation you can find out how to stop the collection agencies, what you’re rights are, and what your options may be to regain control over your financial burdens.

Holiday Spending Carries Debt Risk

Consumer Spending Around the Holidays

Each year around the holidays we write an article that has to do with consumer spending. This is because there is a significant amount of money spent between Halloween and Christmas. Many shoppers spend beyond their means, which is an area of concern. There’s something about this time of year that tempts folks into digging so deep into their pockets that they;re unable to pay it all back.

There are unpleasant financial consequences to spending more than we earn.  Building excessive debt over the holidays may prove difficult to pay back later.. Also, incurring debts to close to filing bankruptcy can be seen as fraudulent behavior. For example, gift purchases over a certain amount can be considered as “luxury” goods which means they may be considered non-dischargeable.

Consumer spending over Black Friday and Cyber Monday exceeded previous years, and the holiday season is not over yet! Every Result You Need To Know From Black Friday, Cyber Monday And The Holiday 2018 Season So Far

Financial Data Shows Costs Add Up Quickly

Financial data analysts are predicting that 2018 is going to conclude with massive consumer spending. Unfortunately, this doesn’t equate to the ability to pay off debts. In previous years, the average American would personally spend about $1,000 on holiday gifts. Low gas prices are going to provide some relief this year, but if you travel by plane, or host holiday parties, expect costs increase well above the average spend. Treat yourself, but watch the budget!

Overspending During Holiday Is Easy To Do 

    • 2 Grande Starbucks Cafe Mocha,$8.85
    • 1 Vehicle Country Christmas Light Show,$20.00
    • Lunch for two at Panera Bread,$24.00
    • Four games of bowling for Two,$44.00
    • 2 Movie Theatre Tickets plus popcorn and drinks,$58.00
    • Manicure and Pedicure,$75.00
    • Couples Message,$125.00
    • Car/SUV Detailing Service,$150.00
    • Dinner for 2 at The Capital Grill,$180.00
    • Milwaukee Nutcracker Ballet for Two,$210.00
    • Round Trip from Milwaukee to Charleston S.C.,$399.00
    • Average Cost to Host a Holiday party,$500.00
    • Average amount spent on Gifts,$1,000.00
      *amounts can vary

Beware of Credit Cards Piling Up

Excessive credit card debt is one of the leading causes of bankruptcy. Avoid putting purchases on credit cards without considering how difficult it may be to pay back. Credit cards carry high interest rates.  If the balance can’t be paid off in its entirety, then the items purchased end up costing significantly more in the end. Department and big box stores will temp consumers to open new cards to take advantage of special offers. Be aware of the risk vs. benefit. The best scenario for holiday spending is not to by now and pay later, but instead to plan and budget within the means of your household.

Filing Bankruptcy After Holidays

Holiday debt is in addition to debt and expenses you already have such as a mortgage, rent, car payment, groceries and gas. Once the hype of the holidays is over, many consumers are left wondering how to pay these additional bills off. If you had been leaning towards filing bankruptcy, it’s especially important to be cautious about holiday spending. For information about bankruptcy options including how to eliminate debt, talk to a Wisconsin bankruptcy attorney. The experienced bankruptcy attorneys at Debt Advisors can steer you in the right direction.

Stop Debt & Live Debt Free

Debt Stoppers, Debt Advisors, Debt Eliminators, or Debt Busters; calls us what you want because our law firm is focused 100% on bankruptcy and has been since 2006.  Most importantly, we help clients just like you who struggle with finances to become debt free.

Debt Free Solutions

We provide REAL debt resolutions for clients, even for those who have experienced unfortunate debt scams involving “cash in advance” or false “debt consolidation” promises. Through Chapter 7 and Chapter 13 bankruptcy, we provide enormous relief to the lives of people just like you who struggle with debt. Our methods of resolving debt are legal and effective. In many cases, we can eliminate your debt altogether.

You could be the next person to live debt free. Don’t just take our word for it. Read over a hundred reviews that our clients have shared on Google!

Local Bankruptcy Reviews: https://www.google.com/maps/place/Debt+Advisors+Law+Offices+Milwaukee/@43.0669993,-88.0488356,17z/data=!3m1!4b1!4m7!3m6!1s0x880504f4f548ab4b:0x4db991e3542c2c8f!8m2!3d43.0669993!4d-88.0466469!9m1!1b1

First Steps toward Living Debt Free
If you have tried balancing your budget and paying off bills on your own, then it may be time to re-evaluate the situation.  Experienced bankruptcy lawyers can help. The first step is to admit there is a problem, but this is not as easy as it may seem. For some people, it takes years of struggle to get to this point.  Please don’t continue to  suffer while the bills continue to pile up.  You see, the longer excessive debt exists, the bigger the problem becomes.  Literally speaking; time is not on your side.  Find a trusted attorney that you feel comfortable with and take advantage of free legal advice because most law firms, including Debt Advisors Law Offices, offers one free consultation.

Trust the Bankruptcy Process
Trusting the bankruptcy process is important. This will come after all of your questions have been answered. After consulting with a bankruptcy attorney, you should already be feeling better about the future. Therefore, if you have determined that you may benefit from filing bankruptcy the next step is to determine which type of bankruptcy to file. Learn what bankruptcy can do for you.

Bankruptcy Can Solve Serious Debt Problems
The two types of bankruptcy available to you, they are Chapter 7 or Chapter 13. How each bankruptcy handles debt or eliminates debt is different. Can you imagine living debt free? It’s true! When filing a Ch. 7 bankruptcy, there is no repayment plan. Under this type of bankruptcy, you become debt free and it happens with the discharge!

Pay Back Less Through Chapter 13

Ch. 13 bankruptcy doesn’t eliminate debt the same way that Chapter 7 does, but for many, it’s an impressive option. Chapter 13  is for people who have enough regular income to pay back at least a portion of the debt load.  Chapter 13 is essentially a “debt reorganization” that comes with a more than reasonable payback plan. Because of the reorganization, the amount of debt you end up paying back will be far less than where you started. Hence, the best part is that the little debt that is left will be far more manageable than where you began.

Debt Advisor

Debt advice you can trust is right here! We have many convenient locations throughout Southeastern Wisconsin including the Racine and Kenosha area near Illinois, Metro Milwaukee, Madison and Green Bay.

Our staff is knowledgeable, friendly and efficient. Our advice is fair and honest. We call you back, we answer questions, and we are professional. If bankruptcy is the right path to get rid of debt for your family, then you are in good hands with the attorneys and staff of our bankruptcy law firm.

So maybe you’re ready now to live debt free? Make an appointment today.  

Free Backpack Giveaway Event; Helping Our Community

Dorothy’s Outreach Ministry; Backpack Giveaway

This year, Debt Advisors Law Offices has teamed up with Dorothy’s Outreach Ministry to provide free backpacks filled with pencils, notebooks, rulers, glue sticks and other school supplies to children in need.

Dorothy’s Outreach Ministry is a non-profit, local organization right here in Wisconsin who has made a difference in our local communities by supporting children and families in need. The ministry operates through both monetary donations and the donation of school supplies. All proceeds go directly back to children in our local communities.

Free Backpack Giveaway Event
Over 200 free backpacks for all ages while supplies last!

Date: August 25, 2018

Time: 11:30am-5:30pm

Location: Kingdom Apostolic Ministry
parking lot at 5017 West Center Street,
Milwaukee, Wisconsin

Can’t Make The Event?

Here are some additional ways to find cost savings while shopping back to school:
• Watch for end of summer sales, coupons, rebates and online-only deals
• Follow favorite stores on social media for additional savings
• Don’t be afraid to shop discount, consignment, grocery or second-hand stores
• Focus your savings on the biggest ticket items first
• Buy in bulk if there are several kids in the family
• Reuse items from previous year when possible

Purchasing Back To School Supplies

Back to school shopping July to September is big business for stores but hard on the wallet for so many families. According to The National Retail Federation, each student k-12 can expect to spend an average of nearly $700 purchasing back to school supplies. This number has increased in recent years due mostly to the cost of electronics, but even the basic school supplies will run about $500 per child. Middle and high school students will require more of a back to school investment than younger siblings.

July and August are the biggest spending months for back to school supplies, but during the month of September, stores can always expect some last-minute purchases. Purchasing a pre-made school kit or package containing specific items requested by teachers may eliminate some need for last minute purchases and provide convenience, but don’t necessarily provide a cost savings. Wisconsin’s tax-free holiday earlier this month provided relief for some families, and there are occasionally good bargains found online.

Although there are cost savings opportunities to be found, some families still have difficulty buying even the most basic necessities. For this reason, our law firm wanted to do what we could to help support school-aged children, as well as the efforts of Dorothy’s Outreach Ministry.

From all of us at Debt Advisors, we hope all kids in Southeastern Wisconsin have a great 2018/2019 School year!

Before It’s Too Late; Ask About Mortgage Modification

 

Can’t Keep Up With House Payments?

Unexpected things happen in life that impact your finances in a negative way. When the situation doesn’t improve quickly, it becomes difficult to keep up with payments on a house. Defaulting on mortgage payments is a step closer to losing your home. Foreclosure is designed to force the sale of your home. How much time you have before the bank starts a foreclosure lawsuit depends on a variety of factors. Don’t wait too long. There is a point at which a foreclosure cannot be stopped. As soon as you find yourself behind on your mortgage; ask a bankruptcy attorney about how to do a mortgage modification.

Mortgage Modification or Mortgage Restructuring

You shouldn’t have to lose your home to foreclosure. One option is a to do a mortgage modification or otherwise known as a mortgage loan restructuring. During the home loan modification process, a new legal contract is negotiated and agreed upon by both the lender and the borrower. The new contract could modify all or just key points of the current loan terms. The idea is to ensure your new monthly mortgage payment is affordable enough to continue making payments as well as stay in your home.

Why Hire a Bankruptcy Attorney for Mortgage Modification?
If you’re in a desperate financial bind already, bankruptcy may do more for you, above and beyond saving your home. For example, if you’re still employed, but need to address other debts in addition to your mortgage, Chapter 13 Bankruptcy may be just what you need. Ch.13 can stop the foreclosure process while allowing the time to reorganize and possibly even reduce many other debts. The new budget will not only save your home; it will also create an attractive repayment plan and budget you can stay on top of.

If your debt load is far too large for a repayment plan, and your mortgage is severely underwater, a Chapter 7 may be your best option. Through Ch. 7 bankruptcy, a mortgage may be discharged. What makes it different from a Ch.13 is that a Ch.7 allows a person to eliminate certain debts instead of reorganizing them. Even if a mortgage loan was not reorganized or eliminated during a previous bankruptcy, it may still be addressed afterwards. In any case, an attorney who is familiar with both mortgage modification and bankruptcy should review your situation as soon as possible.

Hire Debt Advisors Law Offices
In 2017, the Wisconsin counties of Milwaukee, Kenosha, Brown and Waukesha had some of the highest number of properties involved in the foreclosure process. Our firm has offices in these areas as well as other locations in Southeastern Wisconsin. Our bankruptcy law firm is also familiar with foreclosure laws in Wisconsin. An attorney at Debt Advisors can be retained for as little as $100. If you hire Debt Advisors, your attorney will represent you through the entire process including, contacting your mortgage company and working out the details of your case. The first step is to request your free initial consultation.

Before You File Bankruptcy on Your Own

Filing Bankruptcy Without a Lawyer

Making the mistake of filing the wrong bankruptcy, filing bankruptcy documents incorrectly, missing information, or failing to meet important deadlines can be like walking off a cliff blindfolded.  If you’re considering filing bankruptcy, you’re already in a desperate financial situation.  Avoid taking the unnecessary risks that filing bankruptcy on your own can bring.

Bankruptcy Court Problems

Dealing with a bankruptcy court can be very intimidating, and for good reason; there are laws to follow, bankruptcy court deadlines to meet, and no room for errors. To file bankruptcy, one must be experienced with the procedures and well-versed with bankruptcy laws. The trustee appointed to your case will be appointed by the court uncover assets to repay creditors; not to watch out for your best interests. Ultimately, the bankruptcy court decides the details of your personal bankruptcy case, and the outcome. Filing bankruptcy without an attorney means the debtor is taking big risks without legal representation.  When bankruptcy is handled through an experienced bankruptcy lawyer, the margin of error is significantly reduced, if not completely eliminated.

Pre-Bankruptcy Consultation

What if you don’t need to file bankruptcy? Most bankruptcy attorneys offer a free no-obligation case evaluation. During this initial meeting to discuss your potential bankruptcy case, there is conversation about what bankruptcy can and cannot do. The bankruptcy attorney will do an initial assessment of your financial situation and determine which next steps are necessary.  If bankruptcy is not the best solution to your financial problems, there may be other insightful solutions recommended. If Chapter 13 or Chapter 7 bankruptcy are a good fit to resolve your debt problems, then your debt attorney can guide you through the process. Having the professional guidance, assurance, and advice is exactly what is needed to avoid common mistakes.

Hire a Debt Advisor

By far, the most important thing one can do to prepare for a possible bankruptcy case is to hire legal representation, a debt advisor and bankruptcy lawyer who is familiar with both federal and state bankruptcy laws. Before attempting to file on your own, consider the financial risks and unnecessary emotional toll this could cause.  At Debt Advisors Law Offices, you can retain an experienced bankruptcy attorney for as little as $100.

Bankruptcy Provides Relief for Shock of Medical Bills

Ch.7 Bankruptcy to Discharge Medical Debt

Medical care and prescription costs have skyrocketed over the years. Many folks are receiving medical treatment without a clue of how much it will cost them.  When the medical bill finally does arrive, the reaction is complete shock and disbelief. Consumers are less informed about the choices available and cost of medical services than about the cost and nutritional value of a big mac.

Price Menu For Medical Services

A restaurant menu or digital display nicely details items that are for purchase including the cost, descriptions such as photos and sometimes nutritional details as well.  Based upon the information available, consumers are able to make more informed decisions about their purchases.  The sales receipt also allows one to compare the charges with the order to ensure the two align prior to leaving the establishment.  If there is a discrepancy in charges, it can be handled on the spot. Unfortunately, there is no such “menu” for medical services.

Different Prices for Same Medical Services

Being upfront with the cost of medical services becomes more complicated when the same services are billed differently. One of the first questions asked upon entering a medical office or emergency room is, “do you have insurance?” If there is no medical insurance, the total cost for services is typically going to be much lower than for someone who carries health insurance.

After returning home from the doctor’s office, lab, or urgent care, patients are mostly unaware of what the total charges will be. Get the Fresh Start you Deserve.  In any scenario, when the medical bills come in, the reaction is often shock, then disbelief and panic. Legislators in Washington D.C. are working to make the system better by potentially forcing prices to be posted online.

 Wisconsin Family Medical Bill Shocker

For many folks, paying off medical debt is not only difficult, but fiscally impossible. An unexpected medical bill for $500 is a lot of money.  Worse yet, that $500 can quickly turn into $5,000, $15,000 or $50,000 in owed medical expenses. Even with good credit, this amount of medical debt can damage a credit score if not paid off quickly. Medical providers will do their best to collect their money, even if it means garnishing wages.

This Wisconsin family turned to Debt Advisors Law Offices to help get them out of medical debt. https://www.cbs58.com/news/wisconsin-family-gets-a-surprise-3k-medical-bill-hospitals-could-post-prices-online

Medical Debt & Chapter 7 Bankruptcy

Stop wage garnishments, stop the harassing phone calls, and get help overcoming medical debt through Chapter 7 bankruptcy. Find out how the bankruptcy process works. Start by requesting a free bankruptcy case evaluation today.

The Flip Side Of Bankruptcy Stereotypes

 

Addressing Bankruptcy Cons

Bankruptcy is a tool that helps solve serious debt problems. It’s designed for those who are drowning in excessive debt. If you have never been in this position, it may be difficult to see the true benefits that follow a bankruptcy discharge. If you have experienced the pains of living beneath a heavy debt load, you are likely to relate to the flip side analysis of the bankruptcy stereotypes mentioned in this article.

Bankruptcy Is Emotional Rollercoaster

Consider the flip side:  Excessive debt that you can’t pay back, collectors calling, wage garnishments, car repos, and home foreclosure…these are the things that take people on an emotional roller coaster. If bankruptcy is a fitting financial solution for you and your family, then it should come as a relief. Hiring an experienced bankruptcy lawyer that keeps you informed will also ensure that you don’t have additional stress during this process. Bankruptcy is a legal proceeding that can either discharge or consolidate your debt. Your bankruptcy attorney can help determine which is best for you.

Bankruptcy Filings are Public

Consider the flip side: If you lose your home, your car, and your financial life to debt…everyone will know, and you may be miserable. Back when newspapers were the main source of information, bankruptcy filings would be published for creditors to obtain the information. Newspaper readership has declined over the years, and the internet has been introduced. Not only are bankruptcy filings no longer published in all the newspapers, but creditors are notified directly. There continues to be “public access” to information such as bankruptcy filings, but how many people do you know that are going to take the time to search for this, or pay fees to retain it? Most likely, the people you know will never hear about your bankruptcy unless you agree for a credit report to be pulled or tell everyone how much it has changed your life for the better. On a final note, people like you are choosing to make their bankruptcy filings public…just read our reviews!

Bankruptcy Will Ruin Your Credit

Consider the flip side: If you qualify for bankruptcy your credit score is likely to be very low to begin with.  You have just one direction to go, and that’s up!  After bankruptcy, you will be free to rebuild your credit score for the first in a long while. If bankruptcy has allowed you to rebuild your life; try to look at all the positive things it has done for you and move forward. Holding on to unmanageable debt would have prevented you from saving, getting a loan, or improving your credit score. In addition, there are banks and lenders that will work with people who have filed bankruptcy. Yes, you CAN buy a car or a home after filing bankruptcy. Allow us to help answer your “life after bankruptcy” questions.

Filing Bankruptcy is Expensive

Consider the flip side: Attempting to pay off medical expenses that would take more than a lifetime of income to achieve, that’s expensive.  Sending in minimum payments to cover a 22% interest credit card bill or high interest payday loan, now that’s expensive!  Attempting to file your own bankruptcy and making an error…that’s expensive! Filing can be complicated and it can lead to costly mistakes. Be sure to hire a bankruptcy lawyer. At Debt Advisors, you can retain one of our bankruptcy attorneys for as little as $100.  That’s nothing when we’re talking about getting your financial life back in order.  Not all bankruptcy law firms charge the same fees. Debt Advisors Law Offices is experienced, and fair.

Eliminating debt is an investment into your future.