One must consider how to protect property when on the quest to become debt-free. This is why holding on to homes, vehicles and financial investments such as pensions, are top concerns to many Wisconsin folks.It is true that without maintaining some financial assets, nothing else could exist. The loss of a vehicle could make it impossible to get to and from work. Losing a home could be devastating to a family who needs a roof over their heads. These are all valid concerns. Because people are concerned about losing property that is important to them, they may hesitate to get the financial help they desperately need. The fact is that bankruptcy exemptions exist to protect the most important physical and financial assets that you own. Therefore, if getting out of debt is your goal, filing bankruptcy in a way that protects the most property, will be important to you.

Exemptions Protect Property When Filing

Due to bankruptcy exemptions, you won’t lose all of your assets. As a matter of fact, most people are pleased to find out just how well exemptions protect property. Not all assets have equal value. Exempt property varies by state and type of bankruptcy filed. Now it’s up to you to take the next step. During the evaluation of a potential bankruptcy, it’s common to have many questions. The good news is exemptions DO exist, and they’re designed to protect property and assets that are necessary to live and make wages. A bankruptcy attorney is the most reliable source of information. Look for a law firm like Debt Advisors that has a focus 100% on bankruptcy cases. This will ensure that you receive top notch advice regarding the best bankruptcy options and exemptions for your family.

Info About State Exemptions

In Wisconsin, you can choose to use either the state or federal bankruptcy exemptions. What you choose will depend highly upon which program will protect your property best. Your Debt Advisors bankruptcy attorney offer guidance and expertise in this area. They’ll work through details with the needs of you and your family a top priority.

Chapter 7 or Chapter 13

Protect your property; it’s an important part of the bankruptcy process. You’ll need to decide which bankruptcy option is best. If you’re eligible to file Chapter 7 or Chapter 13 bankruptcy, you’ll learn that each handles bankruptcy assets differently. For example, in Ch.7 bankruptcy, exemptions will determine how much you may have to give up. When filing Chapter 7 bankruptcy, virtually all retirement and pension accounts are exempt from creditors.  Of course there are some limitations, and other exclusions which may be subject to liquidation.  With Ch.13 bankruptcy, exemptions are part of the calculation regarding what will be paid back to creditors.  For a more detailed explanation, take advantage of the free consultation offered through Debt Advisors Law Offices.  Just fill out the form on this page.

Wisconsin Bankruptcy Attorney

Choosing the right assistance in such dire times can be a daunting task. For those in Milwaukee looking to find the best legal support, Debt Advisors Law Offices are a prime choice. They not only guide you on how to file for bankruptcy in Milwaukee, but also provide valuable insights, like understanding if you need a job to file for bankruptcy or how to navigate the process during challenging times such as filing for bankruptcy during COVID. It’s paramount to have a reliable source to guide you through these complicated proceedings, ensuring that you are well-informed every step of the way.

Solid recommendations and optimal legal guidance will help make comfortable decisions. The attorney you choose should have the same goals you do – to protect property while while getting out from under the heavy burden of debt. Most bankruptcy attorneys will be familiar with federal exemptions. However, a Wisconsin bankruptcy attorney such as Debt Advisors Law Offices located here, will be familiar with both federal and state of Wisconsin exemptions. After careful consideration and evaluation of your case, this scenario may provide more options that couldn’t be offered otherwise.

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