Do you have a no-asset bankruptcy?
Most people in Wisconsin are familiar with the concept of bankruptcy. Far fewer fully understand what happens during a bankruptcy and the differences between to two primary types of bankruptcy filings, a Chapter 7 and a Chapter13. Many are fearful of filing, as they worry they could “lose everything.” This does not happen because the […]
Helping to guide Wisconsin residents through Chapter 7 bankruptcy
Financial challenges can strike nearly anyone at any time. Last week, we discussed a former trucking executive who was left with overwhelming debt and the need to file for Chapter 7 bankruptcy. Many Wisconsin residents hear the word “bankruptcy” and cringe. The reasoning is understandable. Society has painted bankruptcy with a shadow, often portraying those […]
Former trucking company CEO seeks Chapter 7
Running a successful business can be challenging. There are usually significant financial challenges, and the ever-evolving marketplace can make these obstacles even more daunting. Those businesses that wind up overwhelmed with debt may be able to find relief and protection via bankruptcy, but what about those who own and run such businesses? Could they, too, […]
Discharging tax debt via Chapter 7 bankruptcy
This time of year, many individuals find themselves looking forward to receiving their tax returns. Others, however, may wind up owing significant amounts of money on their taxes. This can be stressful for anyone, but it can be especially worrisome if you are already saddled with significant levels of debt. After all, at a time […]
Debts that linger after Chapter 7 bankruptcy
Debt can be soul-crushing. Those who wake up every morning facing the uncertainties thrust upon them by financial challenges may be on the lookout for debt relief options, but may not know which route is best for them. These individuals might benefit from discussing their difficulties with a legal professional who can discuss the options […]
How is Chapter 7 bankruptcy initiated?
Bankruptcy is a complicated process. Yet it is one that may be well worth the work and the wait, as a successful bankruptcy claim may allow an individual to escape burdensome debt and find a fresh financial start. This is especially true for those who successfully seek Chapter 7 bankruptcy, which is also commonly referred […]
How can Chapter 7 bankruptcy affect tax debt?
Wisconsin residents who are facing overwhelming financial challenges may feel like they are being hit from all directions. In an attempt to pay off bills, they may have to forego necessities, take on another job or accumulate additional debt. Wages may even be garnished and income tax returns withheld. Fortunately, these individuals may be able […]
Airplane maintenance company files for Chapter 7
It can be exciting to start a business. The possibilities can seem limitless and the earnings potential may be astounding. Still, most businesses hit a rough patch at one time or another, and sometimes the financial challenges can be too much to handle. Creditors may start harassing a business owner looking for payment, and a […]
An attorney may be able to help secure a fresh financial start
Previously on our blog we discussed some property that may be considered exempt from the Chapter 7 bankruptcy process. Exempting some of your property can be a savior to your financial health and your morale. By exempting certain assets, you really can obtain the fresh financial start you need to get your life back on […]
What assets can be considered exempt in Chapter 7 bankruptcy?
Having the weight of tremendous debt on your shoulders can often be an extremely stressful experience. Taking positive steps toward reducing or eliminating the debt is never a bad decision. No matter what choice is made, however, there can be elements of the process that can also hold a significant amount of uncertainty and fear […]
