Some interesting but not surprising findings emerged from a December 2009 survey of about 1000 web surfers looking for bankruptcy information on the Internet. Among the provided choices, job loss or wage reduction came in as the top economic factor influencing them to consider bankruptcy protection; 57% of the respondents chose that category. The credit crunch was the next most important factor (32%), following by increased mortgage payments (6%), gas prices (3%) and cost of food (2%). Also, more than 20% of the respondents said they knew at least one person who has considered bankruptcy in the past year.
While a survey of this limited scope is far from conclusive, it does provide food for thought for those who might be in need of serious debt relief in Wisconsin. The end of the year is often a time for reflection and thinking about a new beginning in general. Like many Americans, if you find yourself in a situation where it’s become harder and harder to dig out of debt, especially after getting laid off or working reduced hours, an individual bankruptcy in Wisconsin may be among the options worth considering. In this challenging economic climate, a personal bankruptcy in Milwaukee or elsewhere in the state is no longer just a sign of an irresponsible lifestyle or something that only happens in other households. Instead, it may be an effective way to continue to cover a family’s basic living expenses and needs while rebuilding credit and laying the groundwork for your financial future.
The dust will soon be settling as the 2009 holiday season winds down. Perhaps contacting a debt consolidation lawyer to go over your financial alternatives and get answers to any of your Wisconsin bankruptcy questions may be a way to start the new year off in a positive direction.
