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.

Dangers of Debt Settlement Companies

If you are overwhelmed by bills but are not yet ready to declare bankruptcy, debt settlement can be a viable legal solution for your financial burdens. While some private debt settlement companies may promise to wipe out your debt for just a small fee, such guarantees are unfortunately simply too good to be true. Here are just a few of the pitfalls—and fees—associated with debt settlement firms.

Poor Information

Attorneys often recommend debt settlement for individuals who are heading toward bankruptcy but who do not qualify for Chapter 7 liquidation. Because each case is specific, an attorney analyzes each client’s finances before recommending debt settlement as an alternative to Chapter 13. But the employees of private debt settlement companies work on commission, which means they make money off of each client whom they guide toward debt settlement, regardless of whether it is the best option.

Astronomical Fees

Debt settlement companies may promise a low fee, but the contracts are often intentionally confusing and even misleading. Some companies will charge you a percentage of the total debt, while others charge a percentage of the debt savings plus an initial sign-up fee and monthly service charges. Even if you manage to navigate the confusing language, debt settlement services can be so expensive that it takes clients years to pay just the fees—before they even begin to pay off their original debt.

Unresolved Debt

Once your creditors discover that you are working with a debt settlement agency, they may actually escalate your account by either sending it into collection or suing you. Unfortunately, when a creditor files a lawsuit, your debt settlement company will drop you, because only an attorney is qualified to represent you in court.

At Burr Law Office, we are committed to helping all our clients regain their financial footing. To find out how you can affordably discharge your debts through bankruptcy or satisfy your creditors through debt settlement, call our office today at (877) 891-1638 to set up a free consultation with attorney Michael Burr.

Recognizing Milwaukee Debt Collector Scams

If you fall behind on your debt obligations, you will likely receive phone calls from a debt collection agency on behalf of your creditor. In the United States, the Federal Trade Commission regulates the practices of debt collection agencies, specifically outlining what kind of behavior is acceptable. When debt collectors contact you, they are not allowed to use threatening language or seek unjustified amounts.

This ABC News report sheds light on a form of abusive and fraudulent debt collection practices ran in the United States and conducted overseas. These debt collectors use abusive language and threats to collect debt that individuals have already paid. The information in this report can help you identify whether or not a debt collection call you receive is legitimate.

If you find yourself victim to debt collector scams, contact an experience attorney right away. If you qualify, filing for bankruptcy with an attorney will put an immediate stop to such actions and help put your mind at ease. Attorney Michael Burr takes care of each case from start to finish and truly cares about the well being of his clients.

Burr Law Office can help an individual facing financial hardship gain a fresh start by providing affordable Milwaukee bankruptcy services. Learn more by calling our office today at (877) 891-1638.

What to Do If a Milwaukee Debt Collector Crosses the Line

When bills are piling up and there is no way to meet even minimum payment requirements, many debtors feel understandably overwhelmed and unsure of their legal options. But harassing and aggressive debt collection behaviors are simply not part of the bargain, no matter how much you owe. Here is what to do when a debt collector violates your rights as a consumer.

Write a Letter

If a debt collector is engaging in harassing behaviors, making false statements regarding your account, or using obscene or threatening language, that person is breaking the law. In fact, even contacting a debtor early in the morning or late at night is in violation of the federal Fair Debt Collection Practices Act. When a debt collector crosses the line, your first recourse is to write a letter to the agency requesting that collection agents cease all contact with you. While a creditor may still sue you for your unpaid debt, debt collectors are prohibited from any other further contact.

File a Report

If a collector persists in contacting you, you may want to consider filing a report with the FTC. The FTC vigorously enforces the Fair Debt Collection Practices Act and regularly takes action against debt collectors who use illegal methods to attempt to collect from consumers. If a collection agency uses any deceptive or abusive tactics, file a complaint with the FTC right away.

Contact Your Attorney

You can banish these phone calls for good by calling an attorney who has experience dealing with debt settlement and bankruptcy cases. If you are unable to pay your creditors at all, your attorney can guide you through your legal options for discharging the debt.

Did you know that filing for Milwaukee bankruptcy puts an immediate hold on all debt collection activity? If you are currently unable to pay off your creditors and your financial situation is not likely to improve, filing for Chapter 13 or Chapter 7 may be in your best interest. To speak with an experienced attorney about your options, call Burr Law Office at (877) 891-1638 today.

The Dangers of Hiding Your Assets During a Bankruptcy Proceeding

If you are considering filing for bankruptcy but aren’t sure how to properly disclose your assets, you are not alone. Many consumers naturally want to hold on to their hard-earned money and property. Unfortunately, hiding your assets when filing can have devastating legal consequences. Read on to find out why you need to fully disclose your assets to your bankruptcy attorney and to the court.

Case Dismissal

When you file for bankruptcy, you are legally required to disclose all your debts. This includes unsecured and secured debts and any money you may owe to friends and family members. Even if you do not intend to hide assets, the court views transferring money to family members before filing as a fraudulent act and can demand that these funds be returned. If the court determines that you have hidden assets, your case can be thrown out.

Mandatory Delays

If your bankruptcy claim is denied, you are liable for all your debts. If you are unsure of which debts to disclose, always err on the side of caution by sharing your entire financial history with your attorney. If the court denies your petition because you have hidden assets, you will face a mandatory waiting period before you can file again, and may not ever be able to discharge debts associated with the original claim.

Criminal Charges

Bankruptcy fraud is vigorously prosecuted by the IRS, and hiding assets may even lead to criminal charges. If you are convicted of fraud, you may face both financial devastation and prison time. Your attorney can make sure that you file in accordance with federal laws.

When you file for a Chapter 13 or Chapter 7, you need an experienced attorney to ensure that you abide by all law requirements and do not inadvertently hide or disguise your assets. Call Burr Law Office at (262) 827-0375 to find out how Milwaukee bankruptcy attorney Michael Burr can help you affordably discharge your debts.

What is Foreclosure Fraud?

Did you know that some banks have foreclosed on homes using forged documents? As this video reveals, some banks attempt to take consumers’ homes illegally in a phenomenon known as foreclosure fraud. Click below to watch the story and learn how to spot clues that may save you from losing your property.

According to one victim, his servicer told him not to pay his mortgage while they worked out a loan modification. They then notified him that they have lost his modification application—six times. Days away from losing his home, this consumer discovered that his bank was using phony documents to push him out of his home.

Foreclosure fraud is a criminal act, and companies must be held accountable for these false documents. An experienced attorney can help you avoid these types of situations and get you the help you need. Attorney Michael Burr takes care of each case from start to finish, ensuring his clients are properly attended to.

If your bank has threatened to illegally take your home, call Milwaukee bankruptcy attorney Michael Burr of Burr Law Office at (877) 891-1638. He will stand up for your legal rights against big lenders.

Bankruptcy Consequences: Hiding Assets

Burr Law Office is dedicated to helping our Wisconsin clients resolve their cases quickly, affordably, and effectively. If you plan to file for Chapter 7 or Chapter 13, here is why attorney Michael Burr will advise you that you are legally obligated to disclose all your assets.

Unlisted Assets

Whether you are filing for Chapter 7 or Chapter 13, you are legally required to list all your assets, debts, and any pending litigation or judgments. Some debtors falsely believe that if they file for Chapter 7 bankruptcy, they can still hold onto their property. Though many borrowers are able to avoid foreclosure, the first step of both a Chapter 7 liquidation and a Chapter 13 reorganization is the court appointment of a trustee to oversee the repayment or discharge of debts.

Appointed Trustee

If you have failed to disclose any assets or property to your lawyer and they are not listed in your filing, there is a very good chance that your trustee will discover these hidden assets. The trustee has access to your tax returns, financial records, insurance documents, and credit applications. Furthermore, he or she can speak to your friends and family, who may unwittingly disclose your hidden bank account, vehicle, or antiques.

Serious Bankruptcy Consequences

If you are caught hiding assets when you file for bankruptcy, you may lose your property and your application may be denied. Furthermore, if your claim is denied for fraud, you will not be able to discharge these debts in any subsequent filing. Finally, you could face criminal charges and even prison time for making a false statement.

If you live in the Milwaukee area and are considering filing, call Burr Law Office at (877) 891-1638 to discuss your case with a bankruptcy attorney. Only an experienced lawyer can guide you through this complicated legal process to make sure that you properly disclose all of your assets. Call today to avoid serious bankruptcy consequences.

You may also find this article helpful: “Bankruptcy Consequences: Skipping Payments”