Know some points that are important for Chapter 7 bankruptcy
Many people get into debt and then realize they are in over their head. When bankruptcy comes up, there is often a discussion about which chapter is that best one for the situation. For people who are considering filing a Chapter 7 or liquidation bankruptcy, there are some clues that might point to this being […]
Chapter 7 bankruptcy can provide a fresh financial start
When you are so deep in debt that there doesn’t seem like a way out, you might feel hopeless. The good news here is that you do have options to consider. One of these is filing for bankruptcy. People who meet certain income and asset limits might be able to file for a Chapter 7 […]
Chapter 7 bankruptcy is an acknowledgement of the problem
A Chapter 7 bankruptcy isn’t throwing in the towel and giving up on the debts that you owe. Instead, this is a time when you are acknowledging that you are in over your head. The bankruptcy lets your creditors know that you can’t make the payments and takes the false sense of hope away and […]
Prepare to work to rebuild your credit after bankruptcy
One of the points that people who file for bankruptcy are concerned with is how they are going to rebuild their credit when the case is over. The answer to this isn’t very easy, but it is possible to rebuild your credit score over time if you are willing to work at it. When you […]
Suffering under a burden of debt when you can have a fresh start
Financial problems can put a huge burden on a marriage or a family. Believe it or not, there are few people that have not experienced them at some point in their lives. It is easy to believe that only people with little or no income experience financial problems, but the truth is people with a […]
Chapter 7 bankruptcy | Exploring the pros and cons
If you are reading this, you probably already know that debt can consume your life even as you struggle to pay down all of your bills. It is like taking a step forward only to be knocked back a few steps. If an emergency arises such as a serious illness or the sudden loss of […]
How an attorney can assist with a chapter 7 bankruptcy
Here is a scenario we have seen with our clients. You have been struggling with your debt for a long time. After trying desperately to sort out the situation and get back on track, you finally realize chapter 7 bankruptcy is your solution. You assume that because you are so far in debt, working with […]
Can anyone declare bankruptcy?
Technically speaking, anyone can declare bankruptcy. However, that doesn’t mean anyone is eligible. It is an option for everyone in Wisconsin, but specific eligibility is considered on a case-by-case basis. For example, for those considering Chapter 7 bankruptcy, a means test may be used. This test simply looks at financial obligations, income and other such […]
The downsides to not declaring bankruptcy
Whether or not bankruptcy is right for you depends on your situation. Everyone’s financial picture is different. However, many people believe that bankruptcy is going to kill their financial outlook forever. It’s important to remember that there may also be downsides to not declaring bankruptcy. For one thing, your credit score is likely going to […]
Is it bad to spend money and then file for bankruptcy?
Everyone who is considering Chapter 7 bankruptcy is in a tough spot financially, and they don’t have a lot of cash on hand. They still need to spend, but they don’t want the courts to then accuse them of bankruptcy fraud, saying they were using credit cards just so they could then eliminate the debt […]
