Consumer Bankruptcy Lawyers in Sheboygan, Wisconsin

Find the right Consumer Bankruptcy attorney in Sheboygan, WI

Bankruptcy allows an individual or business to get rid of some or all of its debt. Typically, bankruptcy should only be considered when the debt is completely unmanageable, impossible to pay off, and there are no other options. However, in some cases, the benefits of bankruptcy can substantially outweigh the costs. Bankruptcy is governed by federal law, and proceeds in federal courts. So, the procedure for filing for bankruptcy in Wisconsin will be very similar to the procedure anywhere else in the U.S. However, individual bankruptcy courts have different rules for exemptions, so it might be a good idea to consult with a local Attorney in Sheboygan, Wisconsin before filing.

Chapter 7 Bankruptcy in Sheboygan, Wisconsin

There are 2 common types of consumer bankruptcies in Sheboygan, Wisconsin: Chapter 7 and Chapter 13 bankruptcy. Chapter 7 requires that a certain percentage of the debtor's property be liquidated to pay off at least a small part of their debt. However, many types of property are exempt, and do not need to be liquidated, such as cars, homes, insurance policies, and retirement accounts.

Once the non-exempt property is sold, the rest of the dischargeable debt is absolved. Some types of debt, however, is non-dischargeable, including student loans, criminal fines, and others. If most of your debt in Sheboygan, Wisconsin is not dischargeable, Chapter 7 may not be the best option.

Chapter 13 Bankruptcy in Sheboygan, Wisconsin

Chapter 13 bankruptcy in Sheboygan, Wisconsin is markedly different. It may or may not be a better option than Chapter 7, depending on the facts of your individual case. Chapter 13 Bankruptcy involves a court setting up an adjusted payment plan, which allows the debtor to pay off most or all of his debts over a prolonged period of time, through monthly payments that should, assuming that the debtor is willing to make a few sacrifices, be manageable.

Which Type of Consumer Bankruptcy Should I File in Sheboygan, Wisconsin

This depends entirely on the facts of your individual case. If you have a decent amount of steady income, and a large amount of non-exempt property which you don't want to part with, Chapter 13 might be the best option for you. If most of your property is exempt, and you don't have much steady income, Chapter 7 might be the best option.

In any case, you should talk with a local Sheboygan, Wisconsin bankruptcy Attorney. Your Attorney can advise you of your options and inform you of their likely outcome. This will make it much easier for your to make an informed choice.

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Life in Sheboygan

Sheboygan is located in Sheboygan County, Wisconsin. Per the 2010 census, the population is 49,288 people.

Popular sites include Above Beyond Children's Museum, Blue Harbor Resort, Bookworm Gardens, John Michael Kohler Arts Center, Sheboygan Municipal Auditorium and Armory, and Whistling Straits.

The city is also home to many small law offices that cater to the legal needs of local residents and businesses.

Popular residents include Ray Buivid, John Dittrich, Joe Hauser, Wesley Lau, George Sauer, Carl Schuette, and E.E. Smith.

Overall, the city is a wonderful place to visit and live!