Due to the debt problems caused by COVID-19, household debts such as car notes, mortgages, credit cards, and medical bills have been proving more difficult to repay. Therefore, Wisconsin residents are facing “insolvency” at a higher pace.  We understand that “insolvent” is not a term that clients often use. However, because it may arise during…

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According to an August 2020 report from Credit Karma, medical debt has grown nearly 10% since 4Q 2019. COVID-19 medical bills contribute greatly to the increase. A quarter of that new debt is related to hospitalization, and to our elderly population who live on fixed incomes. Bankruptcy For Medical Debt Medical debt has long been…

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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…

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What Causes People To File Personal Bankruptcy? One myth is that people who file bankruptcy are irresponsible. This is usually far from the truth. There are challenging life situations that literally come out of nowhere and are impossible to control. (COVID-19 is a good example of this.) Debt builds up as a result of more…

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Many recent studies have been done over recent years to determine who files and why. Most people who file bankruptcy carry some form of medical insurance, have an education, and are employed. Research findings repeatedly conclude that un affordable healthcare services lead to medical bills that cannot be paid; a common situation that explains why…

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