How to Eliminate Debt in Wisconsin

Downtown Milwaukee, Wisconsin as dusk descends.

Wisconsin has long prided itself on its vast European roots. Settlers from France and Britain fought over the expanding fur trade in the middle 1700s, and more immigrants from Germany and Central Europe enveloped the country thereafter.

Mining and the lumber trade boosted the economy in those days. Farming is obviously a Wisconsin staple as the dairy industry accounts for over $20 billion a year coming out of the state. And from dairy comes cheese, perhaps the state’s most identifiable icon, symbolized by the “Cheesehead” fans of the Green Bay Packers NFL football team.

Off the farm, industry and manufacturing keeps the state’s economy robust with powerhouse like Generac Power Systems and Rockwell Automation standing out in a crowded industrial field.

The Overall Debt Situation in Wisconsin

The Badger State places 15th on the states that are deepest in debt with $23.3 billion in debt. The good news is, many residents remain debt free thanks to a high credit score in the state is nearly 30 points higher than the national average.

A large chunk of debt is accounted for by higher-than-average student loan debt. In fact, two of Wisconsin’s biggest universities – University of Madison-Wisconsin and Marquette in Milwaukee not only have athletic elite status but rising student loan debt as well.

Wisconsin Debt Fast Facts

  • Population: 5.82 million
  • Median Household Income: $60,773
  • Average Credit Score: 696 (the national average is 669)
  • Average Credit Card Debt: $6,484
  • Average Student Loan Debt: $30,440
  • State Debt Total: $23.3 billion

Debt Relief Laws That Protect Wisconsin Residents

Disclaimer: The information shared herein is intended to be a free resource for Wisconsin consumers looking to dismiss debt and does not constitute legal advice.

Whether battling credit card debt, medical debt or private student loan debt, Wisconsin has long been known for passing debt resolution laws that aggressively protect its citizens.

If you are embroiled in a deepening debt situation in Wisconsin, Resolvly can help find an expert team of seasoned debt resolution lawyers to help eliminate debt or at least dismiss debt as soon as possible.

The Fair Debt Collection Practices Act

There are many ways to find debt relief and fight harassing debt collectors and avoid or defend a debt lawsuit. In one case, every consumer has specific rights invoking the federal laws outlined in the Fair Debt Collection Practices Act (FDCPA).

The FDCPA as it relates to Wisconsin residents specifies how to eliminate debt by enforcing your consumer rights against harassing debt collectors. For example, a collector can only call an individual between the local hours of 8am and 9pm. In addition, collectors cannot harass individuals or threaten a citizen with bodily harm or the potential of arrest.

Wisconsin locals in debt also have the ability to stop collectors from repeat callings by sending a physical letter to the agency requesting a cease and desist from the pestering calls. If the FDCPA is violated, a debt resolution company can find you debt defense attorneys who can help you get out of debt and also seek damages and attorney fees.

The Fair Credit Reporting Act

Another consumer protection law designed to assist Wisconsin residents from false or misleading credit information is the Fair Credit Reporting Act (FCRA) which can protect consumers against credit card debt becoming a lawsuit. The FCRA protects the privacy and accuracy of your personal credit history. If an entity violates your rights outlined in the FCRA, there are legal actions that could not only dismiss debt, but earn monetary damages in addition to the recoupment of attorneys’ fees.

There are other debt collection acts unique to the state of Wisconsin that a debt resolution attorney can use to defend you in case of a debt lawsuit. For example the statute of limitation to collect on a debt whereby debt would be dismissed is six years.

Let Resolvly Find The Right Debt Relief Lawyer

When it comes to dealing with debt – whether medical debt or credit card debt – ignoring the problem won’t make it go away. Utilizing the legal referral service of Resolvly, can help you hire a lawyer to get out of debt by helping you understand your specific circumstances, and clear the path to debt relief and debt resolution.

We work with consumer protection lawyers trained in debt relief to protect your rights, fight harassing debt collectors and hopefully eliminate debt completely.

Resolvly helps you hire a lawyer to help dismiss debt so that you can live debt free. Our goal is to help you attain true financial freedom and debt resolution. We offer a free consultation designed to refer you to a consumer defense attorney who will work to eliminate your debt. Simply call 866-955-5047 to speak with a debt freedom specialist who will help guide you on the path toward debt resolution so you can once again be debt free.

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