Filing a Chapter 7 Bankruptcy in Milwaukee
In Wisconsin, a Chapter 7 bankruptcy can be declared by an individual or a business when they cannot pay back debts to debtors or creditors effectively or quickly enough. This bankruptcy is often filed when no other financial options are available. If a Chapter 7 bankruptcy application is accepted, then the individual or business is given a court order. This court order disallows creditors from contacting you further until a court evaluates your debts.
Our Chapter 7 bankruptcy lawyer, William Green, can represent you and determine whether or not you’re eligible for this type of bankruptcy. He can also represent you every step of the way if you do qualify for bankruptcy.
What Are the Steps of Chapter 7 Bankruptcy?
After meeting with a Chapter 7 bankruptcy lawyer and determining that you’re eligible, they will need to file all the necessary paperwork for you. After receiving a court order, your non-exempt assets will be liquidated. However, with Chapter 7 bankruptcy, you can keep your assets. This includes your home, car, and other basic living necessities. Proceeds that are taken from non-exempt assets are used to pay off some of your debts. Because this is a liquidated state of bankruptcy, it is also called liquidation bankruptcy.
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If you’re involved in a divorce, a custody case, a spousal-support case or assets division case let Will Green Law Office help you work towards the best results possible given the facts and the law regarding your situation. If you are considering a divorce in Milwaukee and have questions about how it will affect your children or your finances, give us a call for a free consultation.
Our Family Law Group is ready to handle family law matters of every kind, from non-litigated to the most sophisticated matters, Our experienced and compassionate attorneys have handled hundreds of cases involving complex family and divorce cases throughout Milwaukee. At Will Green Law Office our attorneys are there to assist you through this difficult process. Contact us for a free consultation.
When a couple decides to divorce, the courts split up both their assets and their debts. Dividing the debt is an essential factor of a couple’s net worth. If you are considering divorce and also know that your debt problem is out of control, it is in your best interest to choose an attorney experienced at handling both family law and bankruptcy. Attorney Will Green brings more than 25 years of experience to divorce debt cases.
How Do I File for Chapter 7 Bankruptcy?
Before meeting with our Chapter 7 bankruptcy lawyer, you should gather all of your financial records. This includes credit card statements, bank statements, loan statements, and anything that relates to your financial situation. This allows us to review your debts during a debt evaluation and to provide you with a professional opinion on what some strong financial options are.
What Are Some Advantages of Chapter 7?
With Chapter 7 bankruptcy, you can keep most of your assets. However, a downside is that you can’t restructure your debt. Also, this bankruptcy type doesn’t cover all debts, so you may be left with some after your bankruptcy proceedings.
How Do I Hire a Chapter 7 Bankruptcy Lawyer in Milwaukee?
William Green has years of experience representing individuals like you and offers free debt evaluations to determine if you’re eligible for bankruptcy. To learn more and to schedule this debt evaluation with a Milwaukee Chapter 7 bankruptcy lawyer, call his law office at (414) 376-1777.
William Green serves clients in Milwaukee, Wauwatosa, West Allis, Greenfield, Brookfield, Glendale, and other surrounding Wisconsin communities.