Wisconsin Bankruptcy Law

Bankruptcy is not suitable as a do-it-yourself proposition. The bankruptcy laws have a lot of complex technicalities which explains why you need a skilled legal expert to guide you in a personal bankruptcy in Milwaukee or in any other localities in Wisconsin. Here are a few things to keep in mind in an initial consultation with a Wisconsin bankruptcy lawyer.

Fully disclose all financial issues. Don’t hold back. As we discussed in previous blog entries, concealing any financial information is against the law. It can also result in a dismissal of the bankruptcy case, and in some instances can result in the debtor being locked up.

Answer the lawyer’s questions candidly. Some answers may be slightly uncomfortable, but to effectively represent you and provide you with sound legal advice, the lawyer needs you to put all your cards on the table.

Getting a second opinion is fine. As an informed consumer,  it’s your prerogative to speak with more than one lawyer, but don’t shop around for another lawyer merely to spin a difficult situation more to your advantage, perhaps by withholding key facts.

A general practitioner or an inexperienced lawyer is not your best advocate. Look for an experienced bankruptcy attorney who practices in the bankruptcy courts ever day. That’s the kind of track record that you need for an individual bankruptcy in Wisconsin.

Finally, your friends and relatives will be very well meaning, but any final decision about filing a Chapter 7 bankruptcy in Milwaukee should be made in close consultation with a skilled legal professional who stays on top of the bankruptcy laws in Wisconsin.

If you need to file bankruptcy, choosing the right lawyer is critical. In many cases, the simple truth is that the more experienced attorney will do a better job, which means getting you the most benefit from filing and avoiding the mistakes that someone less experienced is bound to make.

A lot about our society has changed over time, hasn’t it? Take bankruptcy. Declaring bankruptcy is understandably a big decision for most people–but it seems to carry much less of a stigma than it once did. Given the difficult financial straits that many Milwaukee and other Wisconsin consumers find themselves in, an individual bankruptcy in Wisconsin could be the best option if you are facing a mountain of debt. And a qualified debt consolidation lawyer can help you bounce back faster than you might expect. Your lawyer can discuss your options and walk you through all the required court paperwork for, among other things, listing each creditor and how much you owe them.

Although many consumers feel that bankruptcy is the equivalent to a bungee jump off a cliff or a suspension bridge, a bankruptcy in general boils down to three fundamentals: debts, assets, and income.

       Debts: Your outstanding debts fall into two categories: secured and unsecured. Secured debt is money you owe that is connected to a specific piece of property (collateral) like your home or your car. Unsecured debt comes into play in relation to credit card or medical bills, and other debts that aren’t “tethered” to specific property.
       Assets: This consists of what you own and what collateral you’ve used to secure those loans and obligations that may be at risk for foreclosure or repossession. Although the rules vary from state to state, under the bankruptcy law in Wisconsin, you can usually hold on to your home and your car.
        Income: This includes how much money you have and your average income for the past six months. This calculation determines whether you are eligible to file for bankruptcy in the first place, and if so, what kind. Not everyone in Milwaukee and in other areas throughout the state can file under Chapter 7; instead, a Chapter 13 bankruptcy in Milwaukee may be more appropriate.

If you have Wisconsin bankruptcy questions, you should consult an experienced bankruptcy lawyer sooner rather than later so that you can save as much of your property as the law allows. The bankruptcy attorney’s job is to help you sort out what you owe and what the law will allow you to keep.

Now may be the very best time for you to consider contacting a bankruptcy lawyer.  Are you worried that your utilities will be shut off?  As a bankruptcy attorney, I see the same problems every year.  People let their utility bills go all through winter because the utility company cannot shut them off.  That bill just gets larger and larger, and by the time that moratorium comes around, there’s no way to afford the payment to prevent shut off.  I can help you today.
 
Chapter 13 or Chapter 7, it does not matter, as a bankruptcy lawyer, I can prevent them from shutting you off.  There are options for repayment or even a complete wipe out of that debt that can be considered.  It does not matter if your utility company is We Energies, Alliant, or Wisconsin Public Service, they will turn off your electricity if you cannot make the required payments.  If you’re finding yourself wondering if you’re going to be stuck in the dark, you may want to consider your options in bankruptcy.  As a bankruptcy lawyer for the past ten years, I know what people go through this time of year, and I want to help.

As a bankruptcy lawyer, I meet with people every day that have their own sad stories.  These difficult situations are most certainly not lost on me.  Some of the hardest times fall on clients when they or a loved one face an unexpected health issue.  Medical bills can add up and become unmanageable very quickly.  Unfortunately, these can be some of the most expensive bills people face as well.  It’s difficult when procedures are necessary for one’s health, but the sick ones are left with a mountain of bills that there is no possible way for them to afford.
 
Bankruptcy does offer some solutions to people in this situation.  It is possible to completely rid yourself of medical debt by filing a Chapter 7 bankruptcy.  Medical bills, just like credit cards or utility bills, are unsecured debts.  Chapter 7 relieves people of the financial obligation of unsecured debts.  Even if you are not eligible to file Chapter 7, the Chapter 13 can help with these medical bills, too.  A bankruptcy attorney can help you set up a plan with a Chapter 13 filing that may allow you to only pay a small percentage of what you actually owe back.
 
There are options, and as a bankruptcy lawyer, I may be able to help you explore those options.  These impossible situations can be very overwhelming, but bankruptcy does offer relief.  No one asks to get sick.  There is no reason to add insult to injury and bury yourself in medical debt.  Consider the options, and you may realize that a bankruptcy filing may offer you the chance to get your life back on track.

I’m a bad person if I file for Bankruptcy.

Nearly everyone feels some sort of guilt when they can’t afford to pay their bills anymore.  Bankruptcy is designed to help good, honest, hard-working people that have fallen on bad times.  Bad things really do happen to good people.  A bankruptcy attorney really can help you find the light at the end of the tunnel.  There is nothing to be ashamed about, really.  Millions file every year for good reasons.  A good bankruptcy lawyer understands that you don’t necessarily want to be meeting with him or her.  Sometimes it’s best to just stop thinking about how bad something is and really just explore what it really does for you because you may just find the answer you’ve been looking for.

I can pick what I want to include and what I want to exclude from my bankruptcy.

This is most certainly false.  Everyone filing bankruptcy must list all of their liabilities and assets.  Even if you would like to pay back certain debts, you have to include them in your bankruptcy.  As a bankruptcy lawyer I cannot advise my clients to exclude anything from their filings.  After the case is discharged, however, you can continue paying off your debts, but you will no longer be under any obligation to do so.

Filing for bankruptcy is difficult.

A good bankruptcy lawyer can make the process very smooth and painless.  Knowing all of the ins and outs becomes very useful in avoiding a stressful and complicated bankruptcy.  I am here to do the work for you and make it as easy as possible for you to get back on your feet.