We’ve written a series of blog posts answering common questions regarding Chapter 13 bankruptcy in Wisconsin and how it impacts your finances. Call (262) 827-0375

Should I File for Bankruptcy Before or After Christmas? How to Survive the Holidays

When your finances are in disarray, it’s hard to enjoy let alone survive the holidays. You want to focus on your family and friends, not your financial difficulties. It’s hard to have the emotional capacity to consult an attorney about bankruptcy during this already emotionally challenging time of year. Yet, bankruptcy is a viable option, and it may be wisest for you to file before Christmas. Timing is crucial, and in this post, we look at the various factors you need to consider when making the decision to file for bankruptcy.

Two Types of Personal Bankruptcy

There are primarily two types of personal bankruptcy: Chapter 7 and Chapter 13. Chapter 7 bankruptcy takes only about four months from start to finish, and can eliminate almost all your debt. With Chapter 13 bankruptcy you retain your debt, and a way to pay off your obligations is worked out. It takes between three and five years. So the first thing to figure out when you are considering bankruptcy is whether or not you qualify for Chapter 7.

Income Matters

Filing for Chapter 7 bankruptcy is means tested; you must not earn more than the median household income for your state. In Wisconsin, the median household income was $60,773 in 2018 (according to figures released by the US Census ACS on September 26, 2019). The size of your household matters as well, and the bankruptcy experts at Burr Law can help you know definitively whether or not you qualify for a Chapter 7 bankruptcy.

Timing Matters

Importantly, “income” excludes any money received during the actual calendar month in which you file. The median household income is determined by the numbers during the six calendar months prior to the filing. So, for instance, if you generally receive a holiday bonus in December, or your parents give you a monetary gift to help with presents for the children in December, it would be a good idea to file for bankruptcy before Christmas. Filing for Chapter 7 bankruptcy in December will mean that your household income will be calculated based on the numbers from June 1 through November 30. Survive the holidays by beginning the bankruptcy procedure when the means testing will work in your favor.

Non-dischargeable Debt

If you imagine that you can charge wonderful Christmas presents on your credit cards, and have a spectacular holiday, and then file for bankruptcy, that will not work at all. Bankruptcy law states that any debt incurred during the three months before or after Christmas that exceed $600 and that are not living necessities may be non-dischargeable debt. That particular creditor could file an adversary proceeding to determine that that debt is non-dischargeable. That means that you could be responsible for any purchases made during that time. When you file for Chapter 7 bankruptcy, your credit card use will be carefully examined to determine whether or not charges were “necessary.” Those deemed unnecessary could be non-dischargeable debt, and you may remain responsible for them. So filing for bankruptcy before or after Christmas will not make any difference to the categorization of non-dischargeable debt. Other non-dischargeable debts are certain income tax owed, domestic support obligations, debts to governmental agencies, and student loan debt.

Surviving the holidays is even more difficult when your financial situation is a mess. Even though you may be reluctant to confront the situation before Christmas, it may make a big difference in what kind of bankruptcy you can file and how your income is calculated. Make the time to consult one of our bankruptcy professionals at Burr Law today.

When Does Bankruptcy Clear From Your Credit Report?

If you’re considering filing for bankruptcy in Wisconsin, you probably have a lot of bankruptcy questions. It’s important for you to have all the information you need in order to make a truly sound decision, and in this post, we will look at one of the most commonly asked bankruptcy questions: When does bankruptcy clear from your credit report?

Credit reports are simply a fact of contemporary existence, and they are consulted every time you apply for a new credit card, or an automobile loan, or any type of financial undertaking. You may not be aware that in Wisconsin credit reports are also considered by landlords, and by some employers. So concern about your credit report is absolutely reasonable when making the decision to file for bankruptcy.

Filing for bankruptcy becomes part of the public record, so if anyone is truly interested in the bankruptcy filing itself, they can access that information.

Generally speaking, bankruptcy stays on your credit report in Wisconsin for about 10 years. Remember, though, that even if you don’t file bankruptcy, your creditors can obtain a judgment against you for your debt, and that judgment would appear on your credit report. A judgment can remain on your credit report for seven years or until the statute of limitations expires, whichever is longer. In Wisconsin, the statute of limitations on a judgment can be up to 20 years! So a bankruptcy may well fall off of your credit report before a particular judgment.

Bankruptcy will mean a drop in your credit score immediately after filing, but about 12 to 18 months after you receive your bankruptcy discharge your credit score should go up because your debtor to income ratio becomes much better than when you filed the bankruptcy. However, you may already have a poor credit score due to your debt-to-asset ratio (your debt is high compared to your available credit) and delinquent accounts; in that case, the decrease in your credit score may be less than you suppose. If your credit score was good before filing bankruptcy, the drop may be more pronounced.

The type of bankruptcy that you file may also affect how its presence on your credit report is viewed by prospective lenders. Chapter 7 Bankruptcy completely wipes out your debt by selling whatever eligible assets you have; Chapter 13 Bankruptcy sets up a three to five year plan to repay a portion of your debt. Obviously, prospective lenders would consider a Chapter 13 Bankruptcy in a more favorable light than a Chapter 7 Bankruptcy. When applying for credit after bankruptcy, you should be straightforward about the bankruptcy and your reasons for choosing that option.

Attorney Michael Burr and the Burr Law Offices can answer all of your bankruptcy questions. You concern about your credit report is certainly warranted, and we can help you understand all the implications of a decision to file bankruptcy. Consult the experts in Wisconsin bankruptcy law at the Burr Law Offices, and bring all your bankruptcy questions with you.

Bankruptcy Pros and Cons

When you’re in financial distress, it can sometimes seem like there is no way out. There are all different kinds of reasons people find themselves flailing in a sea of debt. Whatever the reason, when creditors are circling sharks, bankruptcy may be the lifeboat you need. Over 12,000 Wisconsinites have filed bankruptcy so far this year (January 1 through September 30, 2019). In the Eastern District of Wisconsin (including Milwaukee and its surrounding areas), 9,466 bankruptcy cases have been recorded
(www.wiwb.ucourts.gov, www.wieb.uscourts.gov). So bankruptcy is neither shameful nor unusual.

Filing for bankruptcy is a serious decision, though. You want to have all the information and understand all the implications before proceeding. Let’s take a look at some of the bankruptcy pros and cons.

PRO: Bankruptcy Stops All Collection Activities By Any And All Creditors. When your debt is crippling, it comes with collection agents working relentlessly to extract money you don’t have. Letters that threaten dire consequences, phone calls that badger you at all times of day or night, these tactics can make you feel hunted, haunted, or both. The moment you file bankruptcy, all collection activities must stop, including any garnishment, foreclosure or repossession.

PRO: Bankruptcy Eliminates or Decreases Debt. With bankruptcy, all your unsecured debt is either eliminated or reduced. Most people file Chapter 7 Bankruptcy, and with that type, you don’t need to worry about any sort of repayment. “The entire process takes from 3-6 months, after which your debt is cleared” (David Chandler, https://www.consumeraffairs.com/finance/bankruptcy_02.html). Some people choose Chapter 13 Bankruptcy, and with that type, you do repay a portion of your debts, determined with the court. This process lasts from 3 to 5 years. In both cases, your debts are cleared, once and for all.

PRO: Bankruptcy Avoids Draining Resources. The bill collectors don’t care where you get the money to pay them, and you may be tempted to take it from your retirement funds, social security or other protected assets. When you declare bankruptcy, not all your assets are liable for your debt repayment. Social security and retirement funds are protected. Filing bankruptcy allows you to retain those protected assets while getting rid of the debt.

CON: Bankruptcy Means No Credit Cards Until You Receive Your Bankruptcy Discharge. While bankruptcy rids you of your debt, it also rids you of your credit cards. Not having credit cards makes some things more difficult. For instance, car rental agencies usually require credit cards; hotels often do too. It also means that unexpected large expenses cannot be paid with a credit card; car repairs may need to wait. Once you receive your bankruptcy discharge you can apply for credit, including credit cards and you should receive that credit or credit card.

CON: Bankruptcy Complicates Credit/Loan Prospects. Bankruptcy remains on your credit record for 10 years, and it can make getting an auto loan or other kind of loan more difficult, but not impossible. And while you may receive credit card offers shortly after declaring bankruptcy, they often come with high interest rates. Naturally, your credit rating will drop, but will improve and be back to normal about 1 year after bankruptcy discharge. Professional advice can assist in charting a positive strategy and ways to improve your credit score.

CON: Bankruptcy Becomes Public Record. When you file for bankruptcy, it becomes a matter of public record, and anyone can request those records. Except it will not appear on the State of Wisconsin, CCAP website, which list case filed in Wisconsin.

A Wisconsin legal team that specializes in Chapter 7 and Chapter 13 bankruptcy proceedings can help you make the right decision for you and your family. If you need help with dealing with debt in Wisconsin, Burr Law Office can provide you with practical solutions that suit your needs. We can help you make the best possible decisions for yourself, your family and your future. Call us today at (262) 827-0375 to schedule a free bankruptcy evaluation. At Burr Law Office, we are here to help.

Chapter 7 versus Chapter 13: Which Bankruptcy Suits You Best?

One of the biggest challenges of managing your finances effectively is getting educated. When you’re running thin on money, time and patience, it’s extremely difficult to take a deep breath and chart out a recovery strategy.

Learning which kind of bankruptcy best matches your needs is the smartest way to advance in life. Here’s a quick rundown of what Wisconsin residents need to know about how Chapter 7 and Chapter 13 bankruptcies differ.

Essential Bankruptcy Distinctions

Filing for bankruptcy is about getting the perspective and space you need to recover from a bad situation, but there are different ways to go about it. Although chapters 7 and 13 of the bankruptcy code are just two of the many laws that offer relief, they’re the most widely used by regular Americans.

When you seek Milwaukee Chapter 7 bankruptcy, or liquidation, you’re telling the court that you would like to discharge or wipe out your debts to your creditors. After confirming that you are either below median income based upon your family size or pass the means test, which takes into account your 6 months gross income prior to filing the bankruptcy and assessing your case, the court will appoint a trustee who administers your case. Your property becomes part of the bankruptcy estate, but when you file you will use the bankruptcy exemptions on your property, which will allow you to keep it and not have to turn it over to the trustee.

Filing a Milwaukee Chapter 13 bankruptcy, or reorganization, petition lets you signify that you want to resolve some or all of your debts gradually. You’ll need to come up with a three- to five-year repayment plan and get it approved by the trustee and the court. You will pay your creditors some percentage on the dollar, anywhere from 0% to 100% depending upon the nature of your debts, your income, and some other circumstances. Whatever percentage is not paid to creditors will be wiped out when you complete your chapter 13 plan and receive your chapter 13 discharge.

Quick Comparisons

There are many technical differences between Chapter 7 and Chapter 13. For instance, only individuals and sole-proprietor business owners can file for Chapter 13, but Chapter 7 is open to companies as well as private citizens.

Speed

Milwaukee Chapter 7 bankruptcy cases resolve faster than Chapter 13 filings. This is because a chapter 7 case lasts approximately 90 days and a chapter 13 has to run anywhere from 3 years to 5 years to be able to pay your creditors some percentage on the dollar.

Debt Resolution

Both types of bankruptcy let you permanently halt collections by enacting an automatic stay when you file. With Chapter 7, you might not be able to get current on your previous missed payments on secured debts like past due car payments, past due mortgage payments, or tax debts. This can make it harder to avoid actions like foreclosures after the stay period ends. In these instances you would want to consider a chapter 13, in which you pay off your vehicle, your mortgage arrears, and tax debts at reduced or nor interest and late charges and stop any type of foreclosure or repossession.

Debt Types

Milwaukee Chapter 13 bankruptcies and Chapter 7 filings also treat different forms of liabilities in distinct ways. For instance, a Chapter 13 relief-seeker can do things like eliminating unsecured property liens, such as those tied to second or third mortgages.

Feeling confused by all the details?

Everyone’s financial circumstances differ, so it’s critical to assess your situation with professional help. Talking to a dependable bankruptcy attorney at Burr Law Office lets you draw on insights that might make your bankruptcy journey more successful — no matter which type of filing you choose. Call (262) 827-0375 for a FREE bankruptcy consultation.

Chapter 13 bankruptcy filing form

Learning Your Way Around Chapter 13 Bankruptcy

Having debt problems isn’t a life sentence. Unfortunately, far too many people lack the knowledge needed to extract themselves from overwhelming liabilities – It’s easy to feel lost in a labyrinth of bills.

Could seeking court-ordered financial protection help you? Here’s why so many consumers with debt problems pursue Chapter 13 bankruptcy in Milwaukee and Waukesha.

The Realities of Debt and Bankruptcy

Why do people seek bankruptcy to lift themselves out of debt? Although everyone has a unique story, there’s a common factor: Filing offers a significant debt-resolution advantage.

Receiving Chapter 13 bankruptcy protection means that the court has granted you a second chance. Instead of facing bills that you can’t settle and wondering what comes next, you can take advantage of various consumer rights, such as:

  • An automatic halt to ongoing debt collection activities,
  • Free credit counseling from government-approved experts, and
  • Help negotiating repayment plans with your creditors.

Chapter 13 isn’t there to erase bills or collection accounts as if they had never existed. Instead, it helps debtors come to terms with debt by devising a sound repayment plan. This forward-thinking option could be an ideal solution for those who want to continue their lives as normally as possible.

Chapter 13 Bankruptcy in Wisconsin

Who files for bankruptcy? Contrary to popular belief, it’s not only for people who have trouble managing their finances. This lifeline also helps those who thought they had everything under control – such as the Wisconsin farmers who filed as a reaction to losses they incurred during the US-China trade war.

Many of the bankruptcy cases you hear about in the news come packed with sensational details, such as ridiculously wealthy individuals or vanishing retailers. At its heart, however, this process is for regular people. After all, bankruptcy is written into the Constitution to help the nation’s citizens. If you build a strong case demonstrating that you’re worthy of relief, then it’s in society’s best interest for you to get the aid you need.

How to Get Informed on Whether to File for Bankruptcy

It’s not always clear when to seek Chapter 13 bankruptcy in Milwaukee and Waukesha. For instance, many people want to avoid court. Others feel torn between filing and trying to get things under control on their own.

Most debt problems only worsen with time, and you can still work to pay off your obligations while you file. Waiting to get started, however, may make it harder to deal with the whole issue cleanly.

Don’t let things pile up until they demand drastic measures. Reach out to a legal expert – Knowing how filing works could be vital to handling your debt. Call (262) 827-0375 today to find out more.

MasterCard Gold Credit Card debt bankruptcy

Bankruptcy and the Credit Card Debt Crisis

Millions of Americans struggle with debt. This is nothing new, but in modern times, we face a problem that previous generations never had. People are drowning in credit card debt.

Are you struggling with credit card payments? Filing for credit card debt bankruptcy may be the best choice. Here’s how the process works and why getting a Wisconsin bankruptcy attorney might help.

Bankruptcy and Credit Card Debt

The many bankruptcy laws in the U.S. are divided into chapters. Each chapter describes a specific kind of bankruptcy.

Chapter 7, or liquidation, bankruptcy lets you sell, or liquidate, your assets to raise enough money to pay off the creditors.

Chapter 13, or reorganization, bankruptcy is where you work with your creditors to come up with a repayment plan.

Choosing Your Debt Strategy

Which bankruptcy chapter is best for handling credit card debt? The size of your overdue bill, your employment status and other factors might force you to pick one or the other.

The laws can make things confusing. For instance, Chapter 13 is designed for people with enough income to repay their liabilities gradually. At the same time, it’s restricted to people whose debts fall below maximum limits.

Chapter 7 is the most common form of bankruptcy. As with Chapter 13, there are eligibility limits, but they apply to your income. Talking to a lawyer could make it easier to navigate these rules properly.

Putting Credit Card Debt Into Perspective

How big is the U.S. credit card debt epidemic? In late 2018, NerdWallet reported that these liabilities topped out at more than $420 billion. That’s a lot of money to owe, and almost 10 percent of people surveyed thought they’d be stuck with credit card debt for the rest of their lives.

Credit card debt that balloons out of control isn’t uncommon. The NerdWallet study also found that households with credit card debt typically had an average of $6,929 in revolving balances. Combined with the huge interest rates that most credit cards charge, these sums have the potential to ruin people’s lives.

Is Bankruptcy the Best Option? Dispelling Common Myths

Filing for bankruptcy under Chapter 7 or Chapter 13 doesn’t mean losing all of your possessions. Most necessities are exempt, and the idea isn’t to fill your life with hardships anyway. Instead, it’s all about making it easier for you to bounce back.

Credit card debt bankruptcy doesn’t ruin your credit either. If you’re considering filing, then it’s likely that the credit rating damage has already been done. Petitioning the bankruptcy court to help you resolve your credit card debts is the most logical option. It wipes the slate clean and moves you toward greater financial responsibility.

To talk with a local bankruptcy lawyer experienced in clearing away burdensome credit card debt, call Burr Law Office today at (262) 827-0375.

How to Pay for Bankruptcy?

How to Pay for Bankruptcy | Waukesha, WIFiling for bankruptcy can be expensive. Hiring an attorney and paying court filing fees can cost you anywhere from hundreds to several thousand dollars. When you’re in tough financial shape, this added cost can seem stressful…and even impossible.

Don’t fear: you have options. Here is a breakdown of what bankruptcy costs and how to afford it.

The Cost of Bankruptcy

Filing for bankruptcy comes with two types of expenses: court filing fees and attorney fees.

An attorney is critical to filing for bankruptcy, as they help file your petition, represent you in court, and take over communication with your creditors.

The two types of bankruptcy are Chapter 7, in which most or all of your debts are forgiven, and Chapter 13, in which your debts are reorganized into a repayment plan.

Here is an estimated breakdown of what you can expect to pay*:

Chapter 7Chapter 13
Court Filing Fees$335$310
Attorney Fees$1,000 – $1,500 /
$200 down
$1,500 – $6,000
Total$835 – $1,835$1,810 – $6,310

*Please note, attorney fees vary greatly based on location and complexity of your case.

When filing Chapter 13 bankruptcy, the court will review your attorney fees to find out if they’re reasonable.

(At Burr Law office, we offer monthly payment plans starting with as little as $100 down.)

Your Bankruptcy Payment Options

If you are filing Chapter 7, you may be required to pay your attorney fees before they file your case. The reasoning behind this is: if you are granted Chapter 7, all unsecured debts are wiped out, including any outstanding attorney fees.

If you cannot afford these costs, you have three options:

  • Raise the money.
  • Establish a payment plan.
  • Find a pro-bono attorney, or one who will take your case without charging a fee.
  1. Raising the money. Use these steps to minimize your expenses and save enough to cover your costs:
    1. Stop payment on credit cards. If you’re planning to file for bankruptcy, continuing to pay your credit cards is not useful. Save that money and put it toward your bankruptcy costs.
    2. Secure additional income. Sell big-ticket items, like furniture or electronics, or find part-time employment.
    3. Ask family or friends for help.
    4. As a last resort, you can borrow against your 401(k) or IRA. However, doing so may deplete the money you will need in retirement.
  1. Using a payment plan. The right attorney may agree to payment in installments. Ask the lawyer you are considering about their payment plan policy during your initial meeting. Please note: most attorneys will require payment upfront before filing a Chapter 7 bankruptcy case.

Your attorney may also work with the court to allow you to pay your court filing fee in installments.

  1. Finding a pro-bono attorney. If your household income is less than 150% of the federal poverty line for your family size, you may qualify for free legal assistance. You have several options for finding a pro bono attorney:
    1. Reach out to your local bankruptcy court to request information on local free legal aid resources and free legal clinics. These organizations may be able to connect you with free legal assistance, but be aware: legal aid organizations are often extremely busy and understaffed.
    2. Research The American Bankruptcy Institute’s bankruptcy attorney directory for more pro bono resources in your area.
    3. Contact your state’s bar association to inquire about free legal aid. Some attorneys are required to take on 10%-15% of their caseloads as pro bono work.
    4. Consider hiring a petition preparer instead of a lawyer. If you’re in a rush to file your bankruptcy, a petition preparer will help you fill out paperwork for an hourly fee. Though they can’t give you legal advice like an attorney would, a petition preparer is a good solution if you are looking to quickly trigger the automatic stay that halts collection efforts.
    5. Finally, we strongly advise against filing on your own without the help of an attorney or petition preparer. Bankruptcy filing is an extremely complicated process and it is easy to make mistakes, which could lead the court to throw out your case.

When making decisions about bankruptcy, you may feel that the deck is stacked against you. But remember: you have options. And if you’re in the Milwaukee area, the experts at Burr Law Office are here to help. We have earned a reputation as experienced advocates, and can help you reclaim your life and get a fresh start. Give us a call today at (262) 827-0375!

 

Chapter 13 : A Step by Step Guide

If you’re considering filing for a Milwaukee Chapter 13 bankruptcy, you’re probably wondering what steps are involved. The experts at Burr Law Office are friendly, knowledgeable, and ready to take on your case. The following is a sequence of steps you will likely run into if you’re getting ready to file.

The first step before filing is determining what type of bankruptcy is right for you. Generally speaking, Chapter 13 is an alternative to Chapter 7 for those who have meet three basic criteria: they have a regular income, they want to pay off their debt, and they need some time to pay it back. The process in a Chapter 13 will usually take a number of years, as a repayment plan is established around the outstanding debt. Attorney Michael Burr will help you determine if there are any special circumstances that occur.

Filing the petition is the second step in the process. This involves filing a schedule of assets and liabilities and reporting things like income, expenses, etc. Your bankruptcy attorney will help you complete all of this paperwork and ensure everything is up to par. Missing information will only prolong the process. Additionally, intentionally withholding information can lead to serious consequences.

The next step is setting up the repayment plan and meeting with creditors. Your bankruptcy lawyer will be with you for the entire process and will work with all parties to come to a fair agreement. After the creditor meeting comes the confirmation hearing in court. At this point the judge will determine if your repayment plan is feasible and meets Bankruptcy Code standards.

The last step is to start making payments. There is a 30 day window between the tim you file and the time you must start making payments, regardless of whether or not your plan is approved by the court.

If you have questions about Milwaukee Chapter 13 bankruptcy or would like help with debt relief issues, contact Burr Law Office today.

Tips for a Successful Chapter 13

Before getting started with a Chapter 13 Milwaukee bankruptcy, it’s important to know a few things about the process and how to make it work for you. If everything is done correctly, accurately, and in a timely manner, the process can go quite smoothly.

Filing for Chapter 13 requires you to make a promise to yourself (and the courts) that you will change your habits when it comes to handling your finances. The process requires that you live with a strict budget during a three to five year period, which can be very difficult. Sticking to the changes will help you come out of the bankruptcy with a fresh start. Here are a few tips that will help your bankruptcy go well.

Budget

The single most important part of a successful Milwaukee Chapter 13 bankruptcy is creating and sticking to a budget plan. The bankruptcy cannot work if you don’t make your payments. Your budget will likely be a reality check of sorts for you. You must stay committed to making your payments and not fall behind. Doing so will make the process much easier in the long run.

Communication

Another important aspect is effective communication. You will likely receive mail, e-mail, or phone calls from your attorney, trustee, or creditors. It’s important that you tend to these and not ignore them. Ignoring these contacts can only complicate and lengthen the process. If creditors are harassing you, it could mean they are unaware of your filing for Chapter 13. If that’s the case, you need to contact your attorney and get things straightened out.

Paperwork

There is a lot of work that goes into preparing and completing paperwork for your bankruptcy. It’s extremely important that you gather and organize all of your financial records and obtain any missing pieces. It is critical that the paperwork be completed honestly, accurately, and thoroughly. The paperwork is difficult and can be frustrating at times, but your attorney will work with you.

Having a successful Chapter 13 Milwaukee bankruptcy requires hard work, persistence, and sacrifice. Throughout the process, you will likely become smarter with your finances and come out with a fresh new outlook on financial planning. The process is tough, but effective. If you’d like more information about filing for Chapter 13 bankruptcy, contact bankruptcy lawyer Michael Burr at Burr Law Offices to schedule a free consultation.

Tips for Managing Your Chapter 13 Repayment Plan

If you file for Chapter 13 Milwaukee bankruptcy, you will commit to a payment plan lasting three to five years, under which you will repay any missed payments on secured debts and a portion of your unsecured debts. Though this plan can be challenging, it will free you from your debts and give you a fresh start. You’ll no longer be in the red. Here are a few ways you can make the plan go as smoothly as possible:

Get used to living on a tight budget.

Payment plans take all of your extra income after you pay necessary expenses like rent, clothing, and food. You won’t have any extra money left over for fun or frivolous things. Unfortunately, you’ll need to simply get used to this; the court wants you to repay as much of your debt as possible, Which means using all extra income for repayment purposes.

Do not incur new debt.

You should not incur new debt without speaking to your bankruptcy trustee first. The point of a bankruptcy is to allow you a fresh start and force you to live within your means, not to let you fall back into old habits of financial irresponsibility.

If your financial situation changes, tell your bankruptcy trustee.

If you lose your job or experience another significant change in your financial life, tell your trustee as soon as possible. He may be able to modify your payment plan or obtain a hardship discharge for you.

Don’t stop making payments.

No matter your financial situation, never stop making your payments. This could lead to a dismissal of your petition, which will leave you responsible for paying all of your debt, not just the portion agreed upon in your payment plan.

Burr Law Office can help you decide if Chapter 13 Milwaukee bankruptcy lawyers is right for you. Though it is not an easy process, it may be a way to deal with your debt and move on with life. To learn more, call (262) 827-0375 to schedule a free consultation with our team.