Helbing Law Office LLC
Experienced Appleton Bankruptcy Lawyer

920-659-5606
- Free Initial Consultation

April 2015 Archives

Determining whether or not to file for bankruptcy

A report about filing for bankruptcy has come out of recent research by two economists from Columbia University. The new study by the Federal Reserve Bank of New York identifies a section of financially struggling people who are too poor to file for bankruptcy despite the changes in the bankruptcy law in 2005.

How trustees operate in Wisconsin's bankruptcy alternative

A long time ago Wisconsin legislators wanted to offer those in need a way out of debt through a recourse other than bankruptcy. Chapter 128, a little known provision, offers much of the same protection as a bankruptcy proceeding, but does not carry the same stigma. The process includes the appointment of a trustee who oversees the disposal of assets and the discharge of debts.

Debt relief by filing for bankruptcy

Many residents of Wisconsin may have encountered difficult financial times and faced harassment from creditors. Filing for personal bankruptcy under Chapters 7 and 13 may help secure debt relief. And, it is important to understand that people who have been declared ineligible to file for bankruptcy under Chapter 7 may still seek eligibility under Chapter 13.

How exactly does Chapter 13 bankruptcy work?

Wisconsin residents who are facing a sudden financial crisis may file for bankruptcy at a designated court. But, before someone takes this step, it is important to understand Chapter 13 of the bankruptcy code, which deals with individual debt adjustment. If an individual's debt falls under the specified amount and a previous appeal for bankruptcy has not been rejected within a period of 180 days, that person cannot file for bankruptcy under Chapter 13.

Those mired in student loan debt have debt-relief options

Wisconsin residents who still carry significant debt from student loans may soon have a better time repaying them if President Obama's recently announced measures work as planned. Currently, more than 70 percent of U.S. students have taken out student loans, making student loan debt the second largest consumer debt after mortgages. Unfortunately, the number of people defaulting on student debt repayment has continued to increase.