We’ve written a series of blog posts answering common questions regarding advice on bankruptcy and how to improve your finances. Call (262) 827-0375

Steer Clear of Milwaukee Credit Card Debt: Tips & Tricks

Nobody wants credit card debt. Occasionally, unforeseen circumstances make it difficult to continue best practice for credit card use. The experts at Burr Law Office have the experience necessary to help those that have fallen victim to Milwaukee credit card debt. We understand the stress that goes along with debt and work with clients to bring relief. Here are some tips to consider for safe and effective credit card use.

Don’t over-charge

Credit cards make it extremely easy to make purchases you couldn’t otherwise afford. Many often charge purchases and don’t have the means to pay it off. A good rule of thumb is to only charge things you can pay cash for. In other words, treat your credit card like cash.

Don’t miss payments

Paying off you card each month in full is the best approach. If, for some reason, you aren’t able to pay it in full, it’s crucial that you at least make the minimum payment each month. Missing payments completely will set you back and has serious consequences.

Limit the number of cards you have

People often fall victim to in-store promotions for companies that offer branded credit cards. While it’s okay to have some store cards, opening too many credit cards will hurt your credit. Try to limit the number of cards you open and only open cards you really need or will benefit greatly from.

If you’ve found yourself at risk of debt, contact the Milwaukee credit card debt experts at Burr Law Office. We’ll help you settle your debt and get back on your feet, free of financial burdens.

Avoiding Bankruptcy During the Holidays

The holidays can be a difficult time of year for those on a tight budget. Sometimes it can be hard to control spending when you want to show your loved ones how much they mean to you. Christmas is generally a time of year when people hit the shopping malls and department stores hunting for the perfect gift. There are a few things to keep in mind as you venture out to keep yourself from financial trouble.

Cash Helps with Control

Especially when it comes to smaller purchases, cash helps control the amount you’re spending. It’s easier to visualize how much of your budget is going to each item when you use cash. Especially if you’re on a tight budget, setting cash aside for the amount you’re allowing yourself to spend will help you see exactly what can be spent where.

Don’t Forget Bills

As silly as it seems, sometimes people forget about their fixed expenses. Remember you still have a mortgage payment, rent, utilities, car payment, etc. Just as with budgeting for gifts, a smart idea is to set aside that money ahead of time so you know it’s covered.

Be Careful with Cards

With so many people out shopping during the holiday season, you should take extra care in protecting your identity. Debit cards don’t offer the same protection as credit cards, but it’s important to watch your spending much closer when using credit cards. It’s easy to spend more than what you budgeted for.

If you’re in need of a bit of help this holiday season, contact the Milwaukee bankruptcy specialists at Burr Law Office. We’ll help you keep yourself free of debt!

Bankruptcy Tips & Advice

While financial hardship is something everyone strives to avoid, it’s becoming an everyday reality for many. Filing for Waukesha bankruptcy may be the best option for resolving unmanageable debt. But what exactly is bankruptcy and how does it work?

This video can help you get a basic understanding of what bankruptcy is. You’ll learn about why it may be a good option for you, how your debts are managed during bankruptcy, and what happens to your assets. One of the best ways to determine whether or not bankruptcy is right for you is by speaking with an attorney. At Burr Law Office, you can schedule a free consultation with no strings attached – there’s no obligation to move forward with filing if it’s not your best option.

Attorney Michael Burr wants what’s best for you. If you don’t qualify  or don’t want to file for bankruptcy, he can offer you sound advice on alternative options that will help get you back on track and debt free.

If you’re looking for an affordable Waukesha bankruptcy attorney who can help you file for Chapter 7 or Chapter 13 bankruptcy, then contact Burr Law Office. Our attorneys specialize in helping clients just like you recover from financial hardship. Call (262) 827-0375 for a consultation or visit us online.

Three Tips for Planning a Financially Stable Future After Bankruptcy

Though some people look at bankruptcy as financial failure, it’s actually an opportunity for a new beginning. Depending on which bankruptcy option you take, you could have your debts immediately eliminated or partially absolved. Once you commit to bankruptcy, however, it’s important to do everything you can to protect yourself against accumulating insurmountable debt again.

Stay away from credit

For many, credit cards are the biggest reason they fall into debt. To avoid returning to old habits, refrain from applying for new credit cards. Instead, use cash, checks, and your debit card. Once your feet are solidly on the ground, you can begin applying for credit cards and rebuilding good credit.

Spend responsibly

Of course, avoiding credit is much easier said than done. To ensure you don’t rely entirely on credit, do your best to scale back spending and establish a savings account. Having extra savings is invaluable in the event of a medical or financial emergency. Try to cut back on unnecessary expenses except for the occasional guilty pleasure.

Stick to your repayment plan

If you’ve opted for Chapter 13 bankruptcy, then you and your attorney have spent days, weeks, or even months trying to negotiate a fair repayment plan with your creditors. It’s advisable to stick to this repayment plan to the best of your ability, or you may find yourself facing the same situation.

If you’re in a tough financial situation but are nervous about the aftermath of Milwaukee bankruptcy, then contact Burr Law Office. If filing for bankruptcy is your best recourse, then Burr Law Office will work before, during, and after your bankruptcy case. Give us a call today at (262) 827-0375 and take one step closer to living debt-free.

Managing Money While Attending College in Milwaukee

For most of us, going to college means being on our own for the first time—and while this means you have the ability to make major decisions on your own, it also means more responsibility. In this video, we take a closer look at how college students can stay on top of their finances while in school.

The first step to take is to create a detailed budget of all your spending habits. This should include the money you need for books and other academic expenses, groceries, gas, and entertainment. Check out the complete clip for tips on sticking to your budget.

https://www.youtube.com/watch?v=rt1eHhWxf8I

Are you facing large amounts of debt? Give your Milwaukee bankruptcy attorney at Burr Law Office a call at (877) 891-1638 for more information about our bankruptcy options and debt relief services.

Milwaukee Legal Aid: Creating a Monthly Budget

Making a monthly budget is the first essential task for any consumer after applying for debt reorganization or declaring bankruptcy. After your attorney has helped you eliminate your debts, your first goal should be to get back on track financially. To make a monthly budget that works for your needs and lifestyle, follow these simple guidelines.

Identify Your Expenses

The primary task in making any budget is simply to compare your income to your expenses. First, identify how you are currently spending money, and set goals that take into account your long-term financial objectives. To track your spending and make sure you stay within our budget, consider investing in a financial software program like Quicken or Microsoft Money.

Watch Your Cash

If you are like most people, keeping track of how much cash you spend can be a difficult task. But the first step to getting your finances on track is sticking to your budget, and it is nearly impossible to follow your financial plan when you forget to record daily cash expenditures, from dry cleaning to morning coffees to paying parking meters. Whenever possible, use a debit card instead of hitting the ATM to avoid cash leakage.

Analyze the Details

While it is not necessary to spend hours each day creating new lists and categories, it is important to watch out for what financial experts call spending creep. As your income begins to naturally increase due to promotions or investment payoffs, remember not to adjust your spending accordingly without taking a look at your original budget first. Chances are, other expenses like rent payments have also gone up.

If you have suddenly found yourself buried under a mountain of debt, you probably know firsthand just how exhausting creditor harassment can be. An attorney can put an immediate stop to foreclosure, stop repossessions, and end harassing phone calls. If you are in need of Milwaukee lgal aid, contact Burr Law Office at (877) 891-1638 to schedule a free consultation.

Money Management Tips for Recent Milwaukee College Graduates

college money managementDuring college, many students are forced to live on limited incomes, relying solely on money from their student loans or financial rations from their parents. Once college graduates secure their first full-time jobs, they may suddenly find themselves with more monthly income than they are accustomed to having. It’s important for any recent college graduate to effectively manage his or her new finances in order to avoid going into severe debt.

Know your credit score

As soon as you borrow money from a lending institution that reports to a major credit bureau, you have established a credit report. Home loans, student loans, and most credit card agencies report to the three major U.S. credit bureaus. In addition, any unpaid utility or medical bills can be reported to a credit agency if the bills are handed over to a collection agency. How you use your credit and pay back your obligations will be used in the calculation of your credit score. It’s important to periodically review your credit score and look for any mistakes to ensure that you are on the right financial track.

Use debt sparingly

You should never borrow an amount of money that you aren’t able to pay back. If you have never had a credit card before, begin by just taking out one credit card. You can also build up a favorable credit score by taking out a secured credit card, which you pay for in advance. You will need to start repaying any federal student loan debt, including Stafford and Perkins loans, six months after you stop going to school.

Live frugally

Even though you might have more income than you were previously used to, it’s important to limit your spending habits. As a young adult, you should be building up savings and emergency funds, not spending your entire monthly paycheck on shopping, morning coffees, or expensive dinners.

If you are facing financial difficulties, Burr Law Office can help. Attorney Burr offers affordable bankruptcy services and will work with your unique financial situation to find your best debt resolution option. You can schedule a meeting by calling (877) 891-1638.

What To Look For In An Attorney

When you make the decision to file for bankruptcy, an important next step is figuring out who to trust to guide you through the process.There are a lot of attorneys who claim to offer bankruptcy services, but your best choice is someone that specializes specifically in bankruptcy law. Here are a few things our Waukesha bankruptcy experts recommend you consider as you make your decision.

Avoid the cheapest…and most expensive

When you’re stuck in a financially difficult situation, the last thing you want to do is spend money to fix it. There are a couple different structures for payment, including hourly rates and flat fees. When you look into payment, don’t jump for the cheapest option right off the bat. The old saying “you get what you pay for” rings true, and you may find yourself wasting money on something that doesn’t help. On the other hand, some attorneys that charge per hour for their time may drag things out in attempts to get more money.

Legal know-how

The law industry as a whole is quite broad. There’s divorce law, real estate law, corporate law, etc. In a technical sense, any lawyer can help you file for bankruptcy. Your best bet is to go with someone that has a thorough understanding and experience with bankruptcy law.

Avoid scams

Some companies may offer “quick debt relief” services, promising to rid you of your debt with a snap of your fingers. Sadly, these companies take advantage of people all too often by charging insanely high rates without doing proper work.

Our bankruptcy experts are here to help guide you through this difficult time. Call Burr Law Office at 262-827-0375 to schedule a complimentary consultation. We’ll show you why we’re the right choice for your filing.