The burden of an insurmountable debt could cause worry, panic and apprehension. When there is nothing left to do, debtors usually resort to filing for bankruptcy relief. However, bankruptcy is not a dead end because it may be the solution to your financial woes. What...
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BANKRUPTCY LAW – Bankruptcy
How Chapter 7 bankruptcy can affect child and spousal support
Understanding how Chapter 7 bankruptcy might change your responsibilities after a divorce is important. This is especially true if you’re responsible for paying child support or alimony. You may be asking, “Will these payments stop when I file for bankruptcy?” Under...
Is it more strategic to file for divorce first or bankruptcy?
Money problems and financial infidelity are some of the most common reasons married couples argue. When debts pile up and the stress becomes overwhelming, the cracks in a marriage can widen, leading some to consider both divorce and bankruptcy simultaneously. Before...
What types of debt can be ineligible for discharge?
When people struggle to shoulder their debt, it can be practical to seek solutions to relieve the financial burden through bankruptcy. This option can help in different scenarios, including individuals and businesses going through challenging times. Filing for...
When is it time to declare bankruptcy?
Financial difficulties can be overwhelming. Digging oneself out of a hole may be impossible with even the most earnest attempts. At a certain point, individuals need to evaluate whether declaring bankruptcy is the best decision. Recognizing the signs that indicate one...
How bankruptcy affects spouses
In Wisconsin, when one spouse files for bankruptcy it usually impacts the other. While no one entering into this procedure should take it lightly, this shared responsibility adds another layer of concern for couples. Having a clear understanding of how bankruptcy...
Does bankruptcy get rid of medical debt?
Medical debt is a burden that many individuals and families in Wisconsin face. When your medical bills pile up, it can be overwhelming, and you may wonder if bankruptcy can provide relief from this financial strain. Bankruptcy is a legal process that helps individuals...
Should you sign a reaffirmation agreement during your bankruptcy?
A reaffirmation agreement is a legal contract that allows you to keep a specific debt after bankruptcy, typically one secured by collateral like a car loan or a mortgage. It is essential to weigh your circumstances carefully if you want to retain an asset in your...
How the bankruptcy means test determines Chapter 7 eligibility
When facing financial hardships in Wisconsin, you may want to consider filing for bankruptcy. Chapter 7 bankruptcy is one possible option, but not everyone qualifies for this type of bankruptcy. Whether you are eligible to file for Chapter 7 hinges on whether you pass...
Coming back after you file for bankruptcy
Bankruptcy can take a toll on your self-esteem and your financial reputation. Coming back after your bankruptcy finalizes requires time and patience. Focusing on what you can control and taking a proactive approach can make a difference in your success. The right...