Bankruptcy Can Help You Obtain The Fresh Start You Deserve
Many people in Hudson and across the St. Croix Valley may be saddled with catastrophic medical bills or mounting credit card debt. A divorce can change an individual’s net worth almost overnight.
Mudge Porter Lundeen & Seguin, S.C. has handled thousands of bankruptcies for hard-working people throughout northwestern Wisconsin.
To schedule a confidential consultation in our Hudson law office, contact us today at 715-338-3312.
The Benefits Of Bankruptcy
Filing for bankruptcy stops a lot of problems dead in their tracks. Debt collectors may no longer call you at home or at work. If your home is in foreclosure, filing for Chapter 13 bankruptcy will stop the procedure from going forward.
Is Bankruptcy Right For Me?
In order to file for Chapter 7 bankruptcy or debt elimination, the debtor must pass the means test. If you make more than the median household income, you may still qualify, depending on your expenses or may consider filing for Chapter 13 bankruptcy.
In Chapter 13 bankruptcy, debt is reorganized according to a repayment schedule set by the court, usually between three to five years. Also called a wage earner’s plan, Chapter 13 lets you renegotiate all debt, except your mortgage, student loans and existing child support payments. Chapter 13 bankruptcy may also help you save your home from foreclosure.
If you meet all your obligations, the court will discharge the debt, allowing you to start over with a clean slate.
Getting Organized Before Filing For Bankruptcy
If you decide to file, it is important to be prepared. Start a list of how much you owe, and to whom. Include property you own, as well as monthly living expenses, including rent, mortgage payments and groceries. In Chapter 7 bankruptcy, certain properties may be exempt from liquidation.
Bankruptcy law is very complex. Our attorneys provide seasoned counsel to help you make a fresh start through Chapter 7 or Chapter 13 bankruptcy.