Find Financial Freedom With Our Madison Chapter 13 Bankruptcy Lawyers
When debts pile up, it can feel like you are sinking. If you are struggling with unpaid debts, it is important to know that you are not alone. Many Wisconsin families and small businesses face financial challenges. It is also important to understand that you have options.
Our Madison bankruptcy lawyers at the Capital Law Group, S.C., have dedicated their careers to helping families and small businesses in Wisconsin with their legal challenges. If you are considering bankruptcy, our legal team can help you find financial stability through a Chapter 13 bankruptcy filing.
Understanding Chapter 13 Bankruptcy
With a Chapter 13 bankruptcy, debtors have the opportunity to reorganize their debts. Under a Chapter 13 bankruptcy, debts are restructured and payment plans are put in place to allow debtors to repay their debts. You will make monthly payments over the course of three to five years to a bankruptcy trustee, who then distributes the money to your creditors. Chapter 13 can help you catch up on missed mortgage payments, pay off car loans and manage other debts while protecting your assets.
Who Is Eligible To File Chapter 13 Bankruptcy?
To be eligible for Chapter 13 bankruptcy, you must have a regular source of income and your debts, both unsecured and secured, must be below certain limits. Unsecured debts include credit card debt and personal loans. Secured debts include mortgages and car loans. If you don’t qualify for Chapter 7 bankruptcy or want to keep assets that might be at risk in a Chapter 7 case, Chapter 13 may be a good option for you.
What Debts Can Be Discharged During A Chapter 13 Bankruptcy?
The goal of a Chapter 13 bankruptcy is to help you reorganize your debts as a way to obtain financial freedom. Chapter 13 bankruptcy can discharge many debts, including:
- Credit card debt
- Medical bills
- Personal loans
Additionally, it may allow you to discharge debts that are not dischargeable in Chapter 7, such as certain tax debts. However, some debts, like child support, alimony and most student loans, typically cannot be discharged. A Wisconsin bankruptcy attorney can help you assess your specific situation and further explain which debts are likely to be discharged in your Chapter 13 case.
What Are The Advantages To Choosing A Chapter 13 Bankruptcy?
Chapter 13 bankruptcy offers several advantages. It allows you to keep your assets, such as your home and car, while you repay your debts over time. It can also stop foreclosure, repossession and debt collection lawsuits. Additionally, Chapter 13 can provide a structured repayment plan that makes it easier to manage your finances and get back on track.
How Can An Experienced Wisconsin Chapter 13 Bankruptcy Attorney Help?
Our experienced bankruptcy lawyers at our Chapter 13 bankruptcy law firm can guide you through every step, from preparing your bankruptcy petition to representing you in court. We are committed to providing personalized legal services to families and small businesses throughout Wisconsin. Our attorneys will analyze your financial situation, explain your options and develop a customized strategy to help you achieve your financial goals.
Consult An Experienced Chapter 13 Bankruptcy Lawyer
Our Chapter 13 bankruptcy attorneys help clients in Madison and throughout Wisconsin. They are available by appointment and offer free initial consultations. For more information about our services or to schedule your free appointment, give us a call at 608-471-5365 or send us a message through our website. We can help you determine if Chapter 13 bankruptcy is the right solution for you.
We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.