Drowning in debt is never a very good feeling. Indeed, when Wisconsin residents are in financial trouble, they often feel like they are drowning for real. This anxiety, stress and extreme fear certainly does not do anything to help their situations. One thing that might be able to help, however, is the Chapter 7 bankruptcy process — for those who can qualify for it, that is.
The Chapter 7 process is a way for Wisconsin residents to get a fresh financial start. Most candidates for Chapter 7 are primarily interested in making their outstanding debts disappear while protecting their existing assets from liquidation. Chapter 7 candidates will also be interested in whether or not they will be able to get a credit card again, or if they will be able to get a car loan or home mortgage after their bankruptcy proceedings have been completed.
The truth is, Chapter 7 — even though it may involve the liquidation of some of your assets — is not designed to leave Wisconsin residents devoid of possessions. Indeed, in most cases, Chapter 7 candidates will be able to keep their automobiles, items necessary for daily life, items needed to perform their job duties and a wide variety of other asset categories.
At the Nicolet Law Office, we always educate our Chapter 7 clients on what they will likely need to liquidate as a part of their bankruptcy proceedings and what they will likely be able to keep. Furthermore, during the course of their bankruptcy proceedings, we will also use every legal strategy at our disposal to help them keep as many of their possessions as possible.
During our free, no obligation bankruptcy consultations, we describe to potential new clients our flat-fee bankruptcy programs, and how our firm may be able to help them affordably resolve their debt issues.