At Debt Advisors, we provide a second chance to people who are in serious debt.  We aspire to share knowledge and insight.  Education is a key component. This includes outlining a clear understanding of the bankruptcy process, including the importance of honesty.  Bankruptcy fraud is a federal offense, and a very serious matter.  We think you will agree that the penalties are just not worth the risk.

Bankruptcy Fraud is a federal offense. A Federal Crime segment of the Department of Justice, The United States Trustee Program, (USTP), is responsible for overseeing the administration bankruptcy cases and private trustees.  USTP investigates and makes criminal referrals for bankruptcy fraud.  One who is found guilty of bankruptcy fraud may be charged with a civil or criminal offense, depending upon the severity of the crime.  If a guilty verdict is decided, it could include both prison time and hefty fines.

All assets need to be listed within paperwork to prevent bankruptcy fraud

When a law firm files a bankruptcy petition on your behalf, the courts need to know everything you own.  Sharing this information doesn’t mean that everything will be taken away.   It’s state or federal laws that determine what property can be kept and what will be used to pay creditors.  The assets that you are allowed to keep are considered “exempt.”  Exempt assets play a part in both Chapter 7 and Chapter 13 bankruptcy.  However, if it is proven that bankruptcy fraud has been committed, the courts will be less likely to work with the debtor.  They may let the creditors have property that would have otherwise have been yours to keep.

Understating the value of property and assets, or not listing them, are the most common ways in which people commit bankruptcy fraud.  We believe that people are, for the most part, honest in nature.  Here is a list of things to avoid.
These actions would be considered deceptive:

  • Fraudulent tax reporting or tax abuse
  • Falsified statements on bankruptcy forms
    or while under oath
  • Bankruptcy Fraud Schemes
  • Failure to report all Assets; hiding or transferring them
  • Using false identity including social security numbers
  • Intentionally abusing credit cards with no intention of paying them off
  • Bribing a court-appointed trustee

 

File with a reputable bankruptcy attorney

Bankruptcy can be a complex process, and it’s essential to be well-informed about the bankruptcy laws that apply to your situation. If you’re considering filing for Chapter 7, understanding the Wisconsin Chapter 7 means test is crucial. At Debt Advisors, our attorneys pride themselves on their deep knowledge of bankruptcy laws. We also advocate for our clients’ rights, especially when it comes to protecting them from debt collector abuse.

Whether it’s understanding how bankruptcy can halt eviction processes or diving deep into various bankruptcy advice, having access to a plethora of resources can make a significant difference. Before making any decisions, it’s always advised to thoroughly review resources, such as the insights we offer on what to consider before filing bankruptcy on your own. At Debt Advisors, we provide all these tools and more to ensure you’re making the most informed decisions. For those in the Sheboygan area, our local office in Sheboygan is readily available to assist you with personalized guidance and support

Debt Advisors Law Offices has been in business for more than ten years and has helped thousands of Wisconsin residents overcome serious debt.  When dealing with banks and creditors, accuracy is really important.  Forms are to be filled out completely and honestly, including truthful disclosure regarding assets. Debt Advisors bankruptcy lawyers are knowledgeable regarding both state and federal laws.  We will walk with you through every step of the bankruptcy process to ensure it is efficient and thorough.  Find out if we can help you by requesting a free case evaluation.  We have six Wisconsin locations to serve you.

Learn about bankruptcy protections, types of bankruptcy, how to get started, what to expect, and who to trust. Filing bankruptcy is the ONLY way to completely eliminate debt. If bankruptcy is right for you, it offers powerful protections that cannot be achieved through alternative solutions such as hardship relief, loans, or debt settlement.

  • Exceptional service. The entire team was friendly and knowledgeable. The attorney took his time to walk me through step by step. I will recommend this law office to anyone!

    J Burks

  • I went through Debt Advisors as a referral by a friend. I am very happy I did so. The staff that I worked with were very helpful and showed a high level of professionalism. They were always able to answer any questions that I had. I was very happy with the attorney that I worked with, Michael Georg. Very professional.

    Terri Grote

  • Attorney Chad Schomburg and Debt Advisors helped me with my debt about three years ago. Chad explained the process to me and answered any questions I had, and the assistants compiled my documentation very efficiently while keeping my case moving forward. They were always available when I needed them, and even years later, I’m able to reach out to them, and they are willing to help. They have turned my life around 100%, and I could not have done it without them! Absolutely recommended!

    Tim Harris

  • They were there for my family from day 1 until the end, 5 years later (Ch. 13). Whenever I had questions or concerns they were always very responsive and gave me excellent advice. Michael and Jeremy are both exceptional bankruptcy attorneys. I highly recommend Debt Advisors.

    Steve

  • After I had to go on disability, I used my credit cards a lot more thinking I could pay them off when I was able to go back to work. That didn’t happen and I found myself so much worse off than I could handle. I went to Debt Advisors feeling terrible about what I had to do. Chad and everyone there were very understanding and put my mind at ease while taking such great care of me. They were there every step of the way and supported me when I was “freaking out”!! Every time I needed to contact them; their response time was amazing!! God forbid I ever need to go through this again, but I know where to turn if I need help! Debt Advisors are more than just filing bankruptcy on my behalf. They really care about what you are going through!! Thank you, Chad, Jeremy, Mike, and everyone at Debt Advisors!! I cannot tell you enough how much I appreciate all of you!! J Hammond

    Steve

  • After I had to go on disability, I used my credit cards a lot more thinking I could pay them off when I was able to go back to work. That didn’t happen and I found myself so much worse off than I could handle. I went to Debt Advisors feeling terrible about what I had to do. Chad and everyone there were very understanding and put my mind at ease while taking such great care of me. They were there every step of the way and supported me when I was “freaking out”!! Every time I needed to contact them; their response time was amazing!! God forbid I ever need to go through this again, but I know where to turn if I need help! Debt Advisors are more than just filing bankruptcy on my behalf. They really care about what you are going through!! Thank you, Chad, Jeremy, Mike, and everyone at Debt Advisors!! I cannot tell you enough how much I appreciate all of you!! J Hammond

    J Hammond

  • Chad Schomburg and his Staff did a phenomenal job for me and in an expeditious manner. I’ve recommend countless clients to Chad Schomburg, Wow!!! Outstanding customer service from the Schomburg office:)

    Lisa Williamson