With the economy of Wisconsin, and the United States as a whole, improving in the past couple of years, many people have been able to get control of their financial problems to an extent. However, there still remain others who have not been able to cope with the setbacks that occurred as a result of the economic recession. Those people are still struggling with medical debt, unpaid student loans, home mortgages and credit card debts.

There may be a social stigma associated with filing for bankruptcy; however, in some cases, it is the best available option to seek debt relief. It not only relieves an individual of financial problems, but also enables that person to make a fresh and debt-free start. The Helbing Law Office has been helping the residents of Appleton, Wisconsin, to relieve themselves of debt and have achieved considerable client satisfaction.

The debt relief journey usually starts with understanding the financial status of an individual. This involves identifying the assets and debts of an individual, and then determining the best possible bankruptcy option for that person. Most personal bankruptcy filings are under Chapter 7 or Chapter 13 of the United States Bankruptcy Code.

Residents of Wisconsin also have the option of filing for bankruptcy under Chapter 128, which is similar to a Chapter 13 filing and repays all credit card and medical debts within a span of three years. It is a more affordable option but the repayment time is shorter, and the debts cannot be reduced or discharged as they are in the case of Chapter 7 or Chapter 13 bankruptcy. For those people who do not have as much debt, they may wish to consider choosing a Chapter 128 bankruptcy filing because it usually does not affect the person’s credit scores.

Making the decision to file for bankruptcy is never an easy one, but the extent of relief it provides from debt collectors makes it an option that a debtor should at least consider. However, there may still remain a number of questions and doubts in a debtor’s mind, and the best possible option to clarify those doubts, and get answers to those questions, may be speaking with an experienced Wisconsin debt relief lawyer.

Source: For more information, please visit the Helbing Law Office website.

Source: For more information, please visit the Helbing Law Office website.