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Bankruptcy Exemptions Archives

What are the benefits of filing for bankruptcy?

Appleton, Wisconsin, residents have their own fair share of debts, which often accumulate from student loans, credit card debts, car loans, mortgages, child support payments and spousal support. As debtors, most residents do their part in paying off these debts in order to avoid huge interest rates that accrue if not paid on time. Consumers, though, are not the only ones who are battling debts. Many well-known businesses have debts that also need to be settled.

What Wisconsin residents should know about filing for bankruptcy

Wisconsin residents who feel as if they cannot breathe because they are stuck under a pile of debt they cannot repay should take note that a remedy may be close at hand. Although many people decline to even think of filing for bankruptcy because it might damage their credit scores, the reality is that bankruptcy is a very responsible way to start rebuilding a better credit score.

Bankruptcy exemptions may makes bankruptcy easier

When debt becomes overwhelming, life can become extremely difficult. If unforeseen expenses must suddenly be met, even the best financial plan can fall apart. Any Wisconsin resident who finds it hard to stay current with his or her bills and other financial obligations and sees no other options should consider filing for bankruptcy in order to get from under the burden.

Important rules in bankruptcy filing and exemptions in Wisconsin

Many celebrities are considered affluent people, with their million dollar contracts and other assets. However, when it comes to personal bankruptcy, celebrities are no different than other residents in Appleton, Wisconsin. Bankruptcy law applies to all people, both wealthy and average. The same goes for the requirements for filing for bankruptcy, the debts that can be discharged and bankruptcy exemptions.

Candidate highlights value of bankruptcy exemptions

For many people considering bankruptcy here in Appleton, one of the biggest misconceptions or fears may be that a debtor will have to give up everything to pay off what debt is possible. However, this is not true - bankruptcy exemptions play a huge role in protecting those seeking bankruptcy as a solution, and can help reduce the impact of filing.

Bankruptcy exemption lessons from an immigrant's experience

Bankruptcy can be an eye-opening experience for an Appleton and Outagamie, Wisconsin, resident. It can be more of a shock to someone unfamiliar with the law. After all, bankruptcy laws in the United States are different than in many other countries. This was the experience of an immigrant from Taiwan who lost the family home unnecessarily, unaware that there is a homestead exemption when filing for bankruptcy in most of the states in the U.S.

Wisconsin IRA's not held as retirement funds are non-exempt

Filing for bankruptcy is a last resort for most people. Questions often loom as to whether debtors will be able to keep certain assets or if the bankruptcy courts will seize those assets to repay their debts. Fortunately for Wisconsin residents, there are federal exemptions and Wisconsin exemptions available that will allow debtors to keep some of their assets, including retirement funds.

Disappointed foreclosed debtors facing financial challenges

Wisconsin debtors burned by illegal foreclosure proceedings may have been momentarily overjoyed that a $3.6 billion dollar settlement had been reached with several mortgage companies. However, that joy soon turned to disappointment when the sad reality sank in that after paying out to 4.2 million borrowers, the recovery was very minimal for most and offered little in terms of debt relief.

Appleton debtors can avoid fraud when filing for bankruptcy

An accountant was recently convicted of committing fraud by fraudulently concealing $700,000 just before filing for bankruptcy and failing to report the funds to the bankruptcy trustee. Appleton debtors should be aware that bankruptcy exemptions allow debtors to keep some of their cash in their possession without committing fraud.