Student loans and undue hardships
Have you heard that it’s impossible to discharge student loans in bankruptcy? This is a very common myth. Though it can be difficult and it is not a viable option for everyone, it is not impossible. The key is to show that the student loans are more than just debt you don’t want to pay […]
What does the bankruptcy means test entail?
The bankruptcy means test is a process debtors undergo to find out if a chapter 7 bankruptcy is the right path. The test identifies whether or not a debtor is eligible for chapter 7. Unless you are a disabled veteran, you will have to go through the means test process before you can file a […]
A lawyer’s role when searching for debt relief
If you are struggling with overwhelming debt, we want to assure you that you are not alone. Many of our neighbors in Appleton and other areas of Wisconsin are in the same boat. One thing you and these people probably share is a desire to find debt relief and start a new chapter in your […]
Debt, bankruptcy and gender: Is there a link?
Have you been wondering if men and women look at debt differently? Is one gender more likely than the other to fall into bankruptcy? Some studies suggest that could definitely be the case. For example, men do tend to have more debt than women. The difference isn’t huge, but average debt held by men is […]
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 […]
It’s illegal to be dishonest during bankruptcy
You know that you’re not supposed to be dishonest when declaring bankruptcy, but it’s tempting. You don’t want to lose certain assets. Wouldn’t it be easy not to report that you own them in the first place? What you should know is that you’re not just breaking the rules by willfully concealing assets. You’re breaking […]
5 tips for post-bankruptcy life
One of the prevailing myths about bankruptcy is that it wrecks your life. People talk about never being able to buy a home, buy a car, start a business or get a credit card. This is a myth for a few reasons, but let’s focus on one of the biggest ones: You can rebuild your […]
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 […]
Does non-exempt property matter in a Chapter 13 case?
You know that non-exempt property matters a lot in a Chapter 7 bankruptcy case. After all, that is a liquidation case, so that property may be sold off to pay the debt. Exempt property is what you get to keep. But what about a Chapter 13 case? With this type of filing, you’re just making […]
Addiction, fear, appearances and debt
No one wants to be in debt or sets out to declare bankruptcy. But it still happens. One reason is addiction. This can mean an addiction to something like drinking or gambling, but it often just means people like to buy things. They enjoy shopping. They like the excitement of new items. Even when they […]
