Most people do not consider bankruptcy the best option-at first. But for many in Wisconsin, the debt elimination offered by Chapter 7 or the structured repayment plans offered by Chapter 13 can be a real life-saver. Even if you’re scared of bankruptcy due to old stereotypes, it’s good practice to get advice from the experts. Start with your free bankruptcy consultation. 

What If I’m Employed? 

It doesn’t matter if you have a job or not; every qualifying situation is different. It’s always best to talk with an experienced bankruptcy attorney to learn how the process may or may not be helpful. Here are a few brief points to consider.

  1. At its most basic, bankruptcy eliminates the legal obligation to pay some or all of your debts (called a discharge of your debts). It also has the added effect of stopping harassment by creditors and debt collectors.
  1. Bankruptcy can help you to meet your basic needs, by restoring or preventing the termination of utility service, stopping foreclosure on your home or prevent repossession of your car.
  1. Not all debts can be discharged in bankruptcy. Obligations to pay student loans, mortgages, tax debt and court-ordered payments (such as child support) are still valid during and after bankruptcy. But by discharging other debts through bankruptcy, it may be much easier to make these other payments on time.
  1. Employers cannot discriminate against you in employment just because you have gone through bankruptcy, according to federal law.
  1. If bankruptcy is right for you, then your credit score is usually pretty bad to begin with. Although bankruptcy can negatively affect your credit score at first, it is often what’s needed to begin to rebuild credit. After bankruptcy, it is not impossible to get credit again. Because your existing debts have been eliminated or restructured, creditors have greater assurance that they will be paid back, creating more confidence in you as a borrower.

Understanding the intricacies of personal bankruptcy is crucial for those who find themselves in dire financial straits. By visiting Debt Advisors, you can get an in-depth perspective on personal bankruptcy and the reasons behind the rise in Wisconsin bankruptcy filings. Real-life personal bankruptcy stories and reviews further provide insights into the experiences of others, helping you navigate the journey with better confidence. Also, for individuals wondering about the monetary implications, the cost of bankruptcy explained offers a comprehensive breakdown.

If you have trouble making ends meet due to high debts, and you feel debt elimination would benefit you greatly, then maybe you are a candidate for bankruptcy. Or perhaps the debt repayment option offered by the State of Wisconsin Chapter 128. (Chapter 128 does not discharge debts, but does offer some of the same protections from creditors, while establishing a structured payment plan.) Whatever your situation, an experienced attorney practicing in bankruptcy law can discuss your resources and needs, and recommend a course of action to bring you greater financial stability.

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