Chapter 7 Bankruptcy FAQ in Milwaukee, Wisconsin
Like any other complicated thing you find on the internet, there are also frequently asked questions in Chapter 7 bankruptcy. The fact that you are searching for answers online simply means that you find the bankruptcy laws confusing and vague to understand. While financial problems are inevitable, they are, however, not impossible to resolve. If you are considering filing for bankruptcy, consulting to an experienced bankruptcy attorney is necessary.
Miller & Miller Law, LLC, is the best bankruptcy law firm in Milwaukee, Wisconsin, that you can certainly rely on. Our legal team is always ready to answer all your questions underlying Chapter 7 bankruptcy.
By utilizing our knowledge and competence acquired over more than 20 years of resolving complicated bankruptcy cases, we can help you secure your financial future and get a fresh start. If you are bothered about your financial difficulties, schedule a free case evaluation with us today!
Why do I need a Bankruptcy Attorney in Wisconsin?
Declaring bankruptcy is a big decision, not only because it impacts your financial future but also because the outcome of your case depends on the competence of your bankruptcy lawyer. Since the bankruptcy procedure, including its rules, is difficult for an average consumer to understand, it is therefore clear that hiring the right bankruptcy lawyer is a must. Before selecting, consider the following qualities:
- Local – The laws of bankruptcy are considered state law. You may see some other big or larger firms in Chicago offering legal help to residents of Wisconsin, but they cannot genuinely understand your needs. Choose someone who works and lives in the community where you live. In other words, choose a local attorney.
- Respect – Whether this is your first time struggling financially or not, it is understandable that you are not comfortable sharing your struggles. Choose someone who understands your situation without judging you. Look for a bankruptcy firm that supports you and becomes your partner in achieving your fresh start.
- Dedicated – Every law firm has its own vision and mission statement. All of them may sound impessive, but only a few adhere to them with enthusiasm. Choose a bankruptcy firm that offers the highest level of legal service to help you achieve your financial objectives.
For more than 20 years of experience handling complicated bankruptcy cases in Wisconsin, Miller & Miller Law, LLC has been consistently dedicated to providing not just legal support, but also emotional and financial support. Our team strives to be excellent in every case we undertake.
We value your time and respect your situation. We will offer wise bankruptcy options to get you back on your feet. If you have questions to be answered, schedule a free case evaluation with us now.
What are the Frequently Asked Questions (FAQs) in Chapter 7 Bankruptcy?
There are various bankruptcy chapters stated in the bankruptcy code. Chapter 7 was specifically described in the code as focusing on a liquidation of the debt. Whatever property is exempted, the bankruptcy trustee may collect and sell it to creditors. In return, the bankruptcy court discharges specific types of debt. It is worth noting that neither the Bankruptcy Code nor Wisconsin State Law permit partnership or corporation bankruptcy discharge.
Below are some of the most Frequently Asked Questions in Chapter 7 bankruptcy in Milwaukee, Wisconsin:
How to file for bankruptcy in Wisconsin?
For Chapter 7 bankruptcy, you are required to take and complete the credit counseling course. A certificate has to be obtained for proof. Once you get a certificate, you must complete a petition in bankruptcy stating the specific chapter you are filing for as well as the bankruptcy exemptions you are intending to use. The bankruptcy petition requires that all assets, liabilities, and debts be listed. Chapter 7 bankruptcy also requires certain information to identify and inform your creditors.
Is having a bankruptcy lawyer required to file for Chapter 7?
While pro se filing is legally allowed under the present bankruptcy act, it is undeniably true that the bankruptcy process is complicated. If you are unable to claim an exemption for your personal property, you risk having your property seized by the trustee in bankruptcy. Filing for chapter 7 bankruptcy gives you the chance to have a fresh start. Everything, like any other legal remedy, must be precise. If you filed bankruptcy incorrectly, you will most likely face difficulties in the future. The Department of Justice will almost surely initiate an investigation. Thus, in order to get accurate assistance, you must seek the assistance of an experienced bankruptcy attorney.
What is the means test in Chapter 7 bankruptcy?
In filing a bankruptcy petition, you are required to state income and expense information on the 122A or 122C forms. These figures are computed separately. It will determine whether you are eligible or not and also serve as an exemption from the abuse presumption. The form will ask you to provide your monthly income and all the pertinent pieces of evidence from your personal records.
What is Bankruptcy Discharge in Chapter 7?
In Chapter 7 bankruptcy, a discharged debt implies that you no longer have to pay the debt. In other words, these are the debts that have been wiped out. Not every debt is dischargeable in Chapter 7 bankruptcy. Child support, domestic support, and tax debts are non-dischargeable. When understanding bankruptcy, secured debts are imperative.
Call our Bankruptcy Attorney Now!
The moment you declare bankruptcy, there is no assurance that you will not have any questions in the subsequent months. In Chapter 7, you are to work with your attorney for three to five months. Considering bankruptcy is a huge decision, especially when choosing among the many bankruptcy lawyers in your state. If bankruptcy is your last resort, contacting a seasoned bankruptcy lawyer is necessary.
At Miller & Miller Law, LLC, our attorneys are eager to assist you in attaining a fresh start. Using our more than 20 years of experience helping clients in Wisconsin, our legal team can surely understand your needs. We respect your situation, and will never judge you based on your financial difficulties. Other than Chapter 7 bankruptcy, we also practice Chapter 13 bankruptcy, Credit Repair, Debt Negotiation, Foreclosure, Stop Garnishment, Stop Repossession, Student Loans, Workers Compensation, Civil Litigation, and a lot more. Schedule a free case evaluation today for effective bankruptcy services.