Overwhelming debt can make people feel anxious and cause arguments, sleeplessness and depression.

No matter how desperate the situation, the key to an effective debt solution is taking the time to carefully review the factors involved and the available options. This can be difficult if you do not have the experience and knowledge of the bankruptcy laws and other alternatives.

Contact the Wisconsin debt consolidation attorneys at the law office of Rogers and Westrick, S.C. We are well-known for structuring debt solutions that are tailored to each client’s circumstances and needs, and have more than 50 years of combined experience creating customized debt solutions for people throughout the Wisconsin area.

Chapter 128

The state of Wisconsin has created an excellent alternative to bankruptcy called Chapter 128. This is a repayment plan similar to Chapter 13 bankruptcy, but Chapter 128 requires no court appearances or newspaper announcement, and the interest on your debts cannot be collected. Those are just a few of the advantages to filing for Chapter 128, but there are guidelines that must be met to qualify.

Debt Consolidation Loan

This plan involves securing a loan that has a lower interest rate than the other debts and is sufficient to cover the total amount of debt. One monthly payment is applied to the principal of the low interest loan, resulting in faster repayment. A co-signer may be needed for this option.

Debt Restructuring/Out-of-Court Workouts

Negotiation is the key to this option. All creditors are contacted and agree to one or more of the following: a reduction in loan balance, reduction in the interest rate or a longer repayment term.

The credit card bankruptcy lawyers at the law office of Rogers & Westrick, S.C., can help you determine the debt solution that is best for your situation. Contact us for a free initial consultation.