Debt Relief

Chapter 13 bankruptcy is used as a debt relief repayment plan. You must pre-qualify for this plan. If you qualify, then all debt is accounted for and broken down. A supervised repayment plan is put in place with priority debts paid first. The Chapter 13 repayment plan is typically spread over three to five years. The new payments are much easier to handle, and gets the collection agencies off your back right away. Only your bankruptcy attorney has the leverage to effectively and efficiently work with the collection agency or creditor to reduce overall debt. Learn more about Chapter 13 bankruptcy

Debt Settlement

The debt settlement process using Chapter 13 bankruptcy allows you to pay a lump sum that’s typically less than the amount you owe, or settle, the debt.  This may sound appealing at first and for some this will end resolving their debt problems.  However, debt settlement can be risky.  Specifically, the creditor will likely issue a 1099 to the IRS that may result in taxable income  for you. You ought to speak to an attorney at Debt Advisors Law Offices to determine if debt settlement is the best course of action. Your first consult is free.

Qualify for Chapter 13

Eligibility for Chapter 13 bankruptcy is not black and white. The determination will be made based upon many details including expenses, income, debt, and many other financial details. It’s important to note that credit counseling is required prior to filing Ch. 13 bankruptcy. Get your free initial consult to see if you may qualify for Chapter 13 debt reduction and repayment plan. If you do, then Debt Advisors will setup your credit counseling requirement. If you don’t qualify for chapter 13, another option worth considering is Wisconsin Chapter 128.

Wisconsin Chapter 128

Chapter 128 is a voluntary debt consolidation plan through the Wisconsin circuit court. Both Chapter 13 and Wisconsin chapter 128, (which is a non-bankruptcy option), reduce and consolidate debt. In Chapter 128, you do not need to declare all assets, debt, or income. There is no mandatory credit counseling and you don’t have to worry about going to court. Learn more about secured and unsecured debt, the automatic stay, qualifications, and other important terms related to Chapter 13 bankruptcy or Wisconsin 128  during your free consult with a Debt Advisors bankruptcy attorney. or which is a non-bankruptcy option to settle debt.

Debt Collectors Want Their Money

Debt collectors and collection agencies will not offer to reduce your overall debt. Their main goal is to obtain payment for creditors who have been unsuccessful in doing so. They want to collect as much as they can get, and as quickly as they can. (Even if it means grabbing your government stimulus money.)  To stop the aggressive creditor tactics and reduce your overall debt, consult with a bankruptcy attorney. An attorney who frequently works with Chapter 13 filings or Wisconsin non-bankruptcy Chapter 128, will know exactly how to handle the situation. Once your debts are reduced and payment plan worked out, you’ll feel better knowing that everything is under control.

When facing a challenging financial situation, it’s important to know that you have options available to you. Besides considering bankruptcy, there are other ways to regain control of your finances. You might want to explore budgeting for enjoyment to help better manage your money or take proactive steps by learning about family financial emergency preparedness. Additionally, understanding the faces of bankruptcy can provide insight into how others have navigated their financial hardships. The important thing is to not feel overwhelmed and remember that there are resources and professionals, like those at Debt Advisors Law Offices in Milwaukee, WI, who are available to help guide you on the path to 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