We are frequently seeing clients with ‘surprise’ medical bills when Wynn at Law,LLC counsels people through bankruptcy proceedings. Catastrophic medical bills are, unfortunately, one of the more common reasons for Chapter 7. Usually those clients didn’t have insurance coverage. The surprise medical bills to which this article refers are bills health insurance did not cover.
Most of Wynn at Law, LLC‘s bankruptcy clients face sudden situations that have them considering filing Chapter 7 or Chapter 13 bankruptcy. I’m talking about things like massive medical bills or sudden job loss. Finances can be a difficult balancing act at other times as well, so I put together a quick list of warning signs.
Wynn at Law, LLC sees a wide variety of bankruptcy clients. Young families and retirees. Executives and hourly wage earners. Men and women, with or without spouses. The common thread through our entire family of clients is that – when it comes to bankruptcy – managing finances became a problem. It may have been suddenly. It may be long in the making. Either way, credit counseling is an important required part of the path that most find beneficial.
The news we heard at Wynn at Law, LLC in February reported that Wisconsin bankruptcy filings last year were at their lowest level since 2007, before the recession. What does that mean to you? Absolutely nothing. Economists care about the number because it means more people are working (maybe) and more people are paying what they owe (probably).
Some of our Wynn at Law, LLC bankruptcy filing clients have such tremendous anxiety over the Section 341 meeting of creditors. They’ll imagine intimidation like in the photo. For some, it’s the hang up that keeps them from filing. For others, it’s the cause of more than a few sleepless nights. I put a lot of value in the statement that 90 percent of what you worry about never comes true. The creditor meeting falls into that category.
When Wynn atLaw, LLC works with bankruptcy clients, we emphasize brutal honesty benefits them more than it would embarrass them. Bankruptcy isn’t meant to shame a debtor. It’s meant to help the debtor move out from under an unmovable mountain of bills. Honesty can be thought of as a carrot and stick.
One bit of peace of mind my bankruptcy clients welcome as much as a fresh financial start is the Automatic Stay. Immediately upon Wynn at Law’s filing of your bankruptcy, creditors generally cannot continue the collection process. It’s quiet time at dinner time since the persistent calls usually come to a screeching halt. When you file, Attorney Shannon Wynn becomes the contact person for the creditor.