{"id":59472,"date":"2023-05-27T18:39:09","date_gmt":"2023-05-27T18:39:09","guid":{"rendered":"https:\/\/millermillerlaw.com\/?page_id=59472"},"modified":"2023-06-14T18:40:51","modified_gmt":"2023-06-14T18:40:51","slug":"nondischargeable-debt","status":"publish","type":"page","link":"https:\/\/millermillerlaw.com\/bankruptcy\/chapter-7-bankruptcy\/nondischargeable-debt\/","title":{"rendered":"Nondischargeable Debts in Chapter 7 Bankruptcy in Milwaukee, Wisconsin"},"content":{"rendered":"

What are the Nondischargeable\u00a0 Debts in Chapter 7 Bankruptcy?<\/span><\/h2>\n

If you\u2019re a resident in Milwaukee and thinking of filing for Chapter 7, you have to take note of the non-dischargeable debts in Chapter 7 bankruptcy in WI. This type of bankruptcy is <\/span>perceived to be the most common and straightforward one<\/b>. While Chapter 7 bankruptcy is known to be a “debt-forgiveness bankruptcy,” many debtors are unaware that filing for it won’t wipe clean every form of debt they have. With the help of an <\/span>experienced bankruptcy attorney<\/span><\/a>, you will learn and understand more.\u00a0<\/span><\/p>\n

With a strong dedication to assisting individuals facing insurmountable debts, Miller & Miller Law, LLC is the seasoned bankruptcy firm in Wisconsin that you can rely on. We provide personalized, transparent, and accurate bankruptcy counseling. With more than two decades of legal experience, we guarantee your case will be handled with diligence and care. Get a free case evaluation and let\u2019s discuss your case today!\u00a0<\/span><\/p>\n

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What is Chapter 7 Bankruptcy?<\/span><\/h2>\n

Chapter 7, also known as the liquidation chapter of the Bankruptcy Code, allows individuals, corporations, or partnerships to file for bankruptcy. In a <\/span>Chapter 7<\/span><\/a> case, a trustee is appointed to gather and sell all non-exempt property and use the proceeds to pay off creditors. Individuals filing for Chapter 7 can claim certain property as exempt. In return for this, they receive a discharge, which relieves them from the obligation to repay certain types of debts.\u00a0<\/span><\/p>\n

However, corporations and partnerships do not receive discharges, so individuals who are legally responsible for their debts will still be held liable. Consequently, both individual bankruptcies and corporate\/partnership bankruptcies may be necessary.<\/span><\/p>\n

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What Properties Can You Keep In Chapter 7 Bankruptcy?<\/b><\/h3>\n

In Wisconsin, bankruptcy filers have the option to choose between state and federal exemptions. The state exemptions tend to be more generous, so most individuals in Wisconsin use the state exemptions. The following are some of the commonly used exemptions under Wisconsin state law:<\/span><\/p>\n