Is bankruptcy the right solution for you? No matter where you live in Wisconsin, it’s important that you fully understand what types of bankruptcy solutions are available to you, and what benefits they will provide to you and your family. As experienced Wisconsin bankruptcy attorneys, we want you to be informed so you can make the right decision.
We have prepared this web site to provide you with an overview of the bankruptcy options available to you. Each person’s financial situation is unique, and therefore you should never choose a bankruptcy option without an in-depth consultation with an experienced bankruptcy attorney. Four different types of bankruptcy protection are available.
Chapter 7: The most common form of bankruptcy and often referred to as “straight” bankruptcy. In a typical Chapter 7 our clients discharge (eliminate) all of their unsecured debts, such as medical bills, credit cards, payday loans and judgments and keep all of their assets because they are exempt. They can now afford their home and vehicle loan payments after the burden of their unsecured debts has been lifted.
Chapter 11: Offers businesses a safe harbor where they are protected from creditors and given an opportunity to reorganize, and implement a plan to pay creditors while continuing business operations. This option is best for businesses or individuals that have both significant assets and debts.
Chapter 12: A specialized repayment plan for family farmers or fisherman, allowing them to pay their debts over a period of time through a court supervised procedure.
Chapter 13: Often referred to as the “wage earner’s bankruptcy.” It is structured for people who have a stable source of income but are struggling to make current debt payments. It is often used to stop foreclosures, tax levies and garnishments. Chapter 13 allows our clients to reduce their debt payments, catch up on past due mortgage payments and eliminate some of their unsecured debt.
Don’t wait any longer to get your head above water. Call us right away to discuss your situation, so you can breathe easier. Our practice deals exclusively with bankruptcy law, and we’ve already helped thousands just like you. Contact us today.