Brookfield Bankruptcy Lawyer
Helping Clients Confront Bankruptcy with Confidence
Nearly all of the bankruptcy cases filed in 2019 were consumer cases. Hundreds of thousands of people every year face mounting debt they cannot pay back. Bankruptcy can be an option for debt relief, but many people are unsure how to approach the filing process.
My firm has helped clients like you file for bankruptcy and begin the process of financial healing. I have worked for over 20 years to provide personalized legal support to clients struggling under the weight of their debts. Bankruptcy can feel impossible, which is why we give clients the compassionate attention they need.
Call Sapinski Law Office, S.C. at (888) 298-1041 to get started.
Chapter 7 vs. Chapter 13 Bankruptcy
There are several types of bankruptcy. The most common are Chapter 7 (liquidation) and Chapter 13 (restructured payment). Both types offer debt relief and help you build a better financial future. There are alternatives to bankruptcy that can also help you get out of debt. Consult an attorney to find out which solution is best for you.
Both Chapters 7 and 13 can help you eliminate most unsecured debts, stop collection activity, and end creditor harassment. They also both provide debtors with different debt relief options, whether it be through a quick discharge of debt or a restructured 3-5 year repayment plan.
Here’s how they differ:
- In Chapter 7 bankruptcy, most debts are discharged (eliminated) relatively quickly. This type of bankruptcy allows you to keep assets that are exempt and necessary to maintain a living. However, assets with a lot of value may not be exempt and subject to liquidation. In some cases Chapter 7 means loss of property. Also under Chapter 7 certain types of debts may not be discharged such as child support, student loans and some tax debts.
- Chapter 13 bankruptcy, on the other hand, provides a different approach to debt relief. One of the more appealing benefits is that it can protect exempt assets from a Trustee and save your home from foreclosure. Chapter 13 also allows debtors the opportunity to reorganize and create a payment plan. Often, this means that the debtor can extend the payment period for their debts to reduce the payments. Chapter 13 is an excellent option for many people, but not everyone qualifies under the Chapter’s unsecured and secured debt limits.
Alternative Debt Relief Options
Wisconsin also has options for financial relief for in-state residents. Section 128 iconsolidates unsecured debt and helps debtors make payments without interest or late fees.
Section 128 is typically used to consolidate the following debts:
- Credit cards
- Payday loans
- Medical bills
- And more
This option is excellent for people struggling with debts and looking for a non-bankruptcy option. If you are a wage earner in Wisconsin, you can qualify for Section 128 as long as you have enough income to pay off your debt within three years.
Sapinski Law Office, S.C. Wants to Help You Recover from Debt
I have helped many clients with their bankruptcy cases from start to finish. My team takes the time to personally evaluate your case to determine the most optimal debt relief solution. Whether you qualify for Chapter 7, Chapter 13, Section 128, or another method, my team is here to help you every step of the way.
Don’t hesitate! Contact my Brookfield bankruptcy team at Sapinski Law Office, S.C.today to start your debt relief journey.