Wisconsin Bankruptcy Lawyers

Finding Solutions for People who are Struggling with Credit Card and Medical Debt.

If you are overwhelmed by debt and are unable to pay your bills, you may want to consider filing bankruptcy. Bankruptcy is a procedure to relieve individuals and businesses from debt. Creditors stop calling, pending lawsuits can be stopped and garnishments halted once the bankruptcy petition has been filed. We specialize in Chapter 7 bankruptcy and Chapter 13 bankruptcy.

Chapter 7

Chapter 7 is the most common form of bankruptcy and is usually what most people think of when they hear the word bankruptcy. Chapter 7 provides debtors with a fresh start by eliminating many of their financial obligations. Typically, it is the quickest and easiest type of bankruptcy relief. Normally we are able to protect all of the assets of our clients and discharge their unsecured debts. This allows the client to start over with a fresh start.

In order to file Chapter 7 you must qualify based upon income eligibility requirements. If you qualify based upon your income, then we will assure that your assets are exempt and that you would be able to retain them if you were to file. If you do not qualify for Chapter 7 based upon your income you may be eligible for Chapter 13.

Once you file your case, an automatic stay immediately goes into effect. This prevents creditors from calling, sending letters or making any contact with you. It will also stop any pending legal actions or garnishments.

We offer a free, initial consultation to discuss your situation to determine if filing bankruptcy would be the best path for you to take or if you should consider alternative solutions to your situation.

Chapter 13

A Chapter 13 bankruptcy is a type of repayment plan where a debtor repays a portion of his or her debts over 36 to 60 months. Often times when debtors does not qualify for Chapter 7 because of their income or when they have unexempt assets they do not wish to lose they will consider filing a Chapter 13. Chapter 13 does not have the same income qualifications and debtors can normally protect their assets easier in a Chapter 13.

The Chapter 13 repayment plan must provide that the debtor’s income will be applied to the plan. After allowing for a reasonable budget the remaining funds are applied to debt repayment. The plan payments are usually paid by wage assignment from your employer. At the end of the plan period, the remaining unsecured debts which are still unpaid are discharged.

If you have questions about bankruptcy or how the experienced attorneys at Williamson & Siler, S.C. can help you get your credit card or medical debt either eliminated or under control. Call our office at 715-246-6806 to learn more about how we can help you today.