Bankruptcy

Eliminate Unsecured Debt with the Help of Our Milwaukee Bankruptcy Attorneys

Our Milwaukee bankruptcy attorneys believe Chapter 7 bankruptcy should be considered a "fresh start." Often referred to as liquidation bankruptcy or straight bankruptcy, it relieves individuals of most debt and allows you to keep your assets as long as the value of those assets does not exceed a specific dollar amount. Our Milwaukee Chapter 7 bankruptcy lawyers will help you with creditor reaffirmation agreements that allow you to keep certain secured debt – a vehicle or a house – as long as you are current on those payments.

Chapter 7 Bankruptcy Can Wipe Out Most of the Following:

• Credit Card Debt
• Pay Day Loans
• Medical Bills
• Wage Garnishments
• Judgments
• State & Federal Taxes (in certain situations)
• Other Unsecured Debt (subject to certain exceptions)

Chapter 7 bankruptcy will usually not wipe out the following debt: child support payments, ex-spousal maintenance, family support, student loans, certain fines and forfeitures, or any debt incurred by fraud. Also, Chapter 7 bankruptcy will usually not allow you to wipe out your vehicle payment or mortgage payment if you intend to keep your car or home.

Keep Your Property and Assets While Rebuilding Your Credit

Lenders have an interest in you keeping you in your property, even when you file for bankruptcy. Our attorneys will help you reaffirm loans for cars, homes, credit cards and other household goods. When a loan is reaffirmed with your creditors, you continue to pay the principal and the same interest rate as you were before filing for Chapter 7 bankruptcy. Although bankruptcy remains on your credit report for 10 years, our clients often receive credit card offers within months of filing for Chapter 7 bankruptcy relief. Most of our clients can even finance a home within two years of filing bankruptcy as long as they are able to make the monthly payments.

Your Next Step

Utilizing Chapter 7 Bankruptcy properly with the right attorney means putting an end to creditors’ harassing phone calls and letters, wage garnishments, and collections lawsuits. If Chapter 7 Bankruptcy sounds like it could be right for you, or you are unsure of the best option to relieve your debt, please contact us at 414-763-3200 to have a no-obligation, free consultation with one of our bankruptcy lawyers.

Chapter 13 Bankruptcy

Our Milwaukee Bankruptcy Attorneys Protect Your Assets

A Chapter 7 bankruptcy may not work for everyone. Perhaps you want to save your home from foreclosure or your vehicle from repossession, or stop tax levies and garnishments. In such a case, our Milwaukee bankruptcy attorneys are able to file Chapter 13 bankruptcy for the relief you seek. If you have fallen behind in your monthly payments but have steady income, Chapter 13 bankruptcy will help save your house or car. It also allows you to consolidate other debts like credit cards and medical bills into one monthly payment for three to five years.

Benefits of Chapter 13

• Stop Foreclosure
• Stop Car Repo
• Stop Harassing Creditors
• Stop IRS Collections
• Lower Car Payments
• Consolidate Student Loans
• Protect Co-signers

Stop Collection Efforts, Keep Your Possessions and Eliminate Debt

Individuals who are behind on mortgage payments and want to file for Chapter 13 bankruptcy protection may also qualify for the Mortgage Modification Mediation Program. You must have steady income allowing you to pay 31% of your gross income or 75% of the monthly mortgage payment (whichever is less) throughout mediation. If successful, a creditor may permanently lower your monthly mortgage payments.

Participation in this program is usually requested at the onset of the Chapter 13 filing. In some cases, a debtor may be able to participate after the filing. An experienced Milwaukee Chapter 13 bankruptcy lawyer helps if you are in danger of losing your home to foreclosure, your vehicle to repossession, or if you don’t meet the qualifications for a Chapter 7 bankruptcy (but are drowning in debt).