The recent economic climate has resulted in a corresponding uptick in the number of households that are experiencing overwhelming debt. The beginning stages of financial distress can be seen when payments for credit cards or personal loans are missed, resulting in higher penalties and interest rates on those accounts. In time, if the debts are not kept current, the debtor’s life can begin to feel more and more out of control.
Creditors who may have sent letters with gentle suggestions about past due payments in the beginning may now be calling the debtor’s home at all hours of the day, demanding payment in tones of voice that are not as friendly as the earlier attempts to collect had been. For many people, the cycle of late payments can spiral out of control quickly, causing them to begin a more “triage-like” method of paying only the most vital bills, while leaving others to go another month past due.
When debts have reached a level where something must be done, talking to a Bankruptcy Attorney Waukesha WI can be a breath of fresh air. The attorneys who are part of Horizons Law Group LLC are calm, rational and fully familiar with the pressures and the fears of people who are struggling with a crushing level of personal debt. A visit to the website for the law practice can answer many questions for a person who is considering filing for either Chapter 7 or Chapter 13 personal bankruptcy, and the website also offers an opportunity to ask a question privately by filling out an online form.
While the option to file bankrtupcty may have been seen as more of a “last resort” in past decades, the current economic climate has been responsible for an evolution in the way that people think about bankruptcies. There are new regulations in place in the laws that provide for credit counseling and this educational component is something that is intended to give the debtor a genuine fresh start after their case has been resolved.
Clients of the Bankruptcy Attorney Waukesha WI can find a great deal of helpful information on the law firm website and scheduling a consultation with a lawyer can help the debtor get on the path to a fresh start in their financial life.