Each year, some 800,000 individuals and businesses file for bankruptcy. It’s a drastic yet valuable option if you’re facing a growing amount of debt that you cannot repay. Whether you have unpaid medical bills, large credit card balances or foreclosure notices, here’s what you should know about the different types of bankruptcy. Different Types of…
“Why would I convert from Chapter 7 to Chapter 13 bankruptcy?” For those who just finished filing for Chapter 7 in Beloit or elsewhere in Wisconsin, this might be a confusing question. It may seem counter-intuitive, but there are times when switching from debt liquidation to debt reorganization makes sense for Wisconsin residents. The government…
If you’re considering filing for Chapter 13 bankruptcy in Wisconsin, you likely have some questions, like: “Can I keep my home if I file for bankruptcy?” “What’s the process to file Chapter 13?” “What’s the difference between Chapter 13 and Chapter 11 bankruptcy?” From years of helping individuals and couples with their bankruptcy cases, The Fitzgerald…
Many people who consider filing for Chapter 7 bankruptcy in Wisconsin approach the decision-making process frustrated and overwhelmed. If you are in a similar situation, you may still be trying to decide which type of bankruptcy is right for you. If you have already determined that a Chapter 7 filing is the right path forward, you may be wondering…
If you’ve been struggling to keep up with your Chapter 13 bankruptcy payment schedule, you may be surprised to learn you might have another option which could relieve you of that debt: Chapter 7 bankruptcy. In Chapter 13 bankruptcy your debt is reorganized, allowing you to pay back your creditors under a revised payment plan and schedule.…
Getting a divorce costs money; more if you and your spouse are having trouble reaching an agreement about division of property, child custody or other issues. When your financial situation also dictates the need to file for bankruptcy at the same time as your divorce, the order in which you file for them can either wind…
Many people can find the strict schedule of paying back debt under a Chapter 13 bankruptcy filing simply too much to keep up with over time. After all, if you have filed this type of debt reorganization, you are not allowed to miss a payment in the average 3-5 years it takes until your bankruptcy…
Trying to decide whether or not to file for bankruptcy can undoubtedly be a stressful time, especially when you have questions concerning your housing needs. One worry can follow the next, especially if you don’t have all the information you need to determine which type of bankruptcy makes the most sense for you to file. In considering…
Many people mistakenly believe it is not possible to include tax debt in your Chapter 7 bankruptcy filing. However, discharging past income tax debt in Chapter 7 bankruptcy is possible if you meet all of the necessary qualifications. If you believe you meet all five of the following requirements, you should be able to include debt…
Ah, to be young. This familiar refrain speaks to the mysticism associated with America’s youth. What freedom they have! Freedom: yes. Financial security: no. Today’s young adults have been deemed Generation Broke. They comprise a group of individuals stuck in a struggling economy and faced with a wealth of expenses at once.…