Yes, they will! By law, all actions against a debtor must cease once bankruptcy documents are filed. Creditors cannot initiate or continue any lawsuits, wage garnishees, or even telephone calls demanding payments. Secured creditors such as banks holding, for example, a lien on a car, will get the stay lifted if you cannot make payments.

Will My Spouse be Affect?
Wisconsin is a community property state, either spouse can contract for a debt without the other spouse's signature on anything, and still obligate the marital community. There are a few exceptions to that rule, such as the purchase or sale of real estate; those few exceptions do require both spouse's signatures on contracts. But the day to day debts, such as credit cards, do NOT require both spouses to have signed.

Can I Keep My House and Card?
Yes. Nearly all people in bankruptcy are able to keep their house and car. This depends on the amount of equity you have in these assets. Even if you have a large amount of equity in these assets, you can keep them in a Chapter 13 bankruptcy.

What is the difference between Chapter 7 and Chapter 13 filings?
Chapter 7 is a bankruptcy preceding that eliminates most kinds of debt including credit cards, medical bills, most civil judgments, public benefits overpayments, utility bills, personal loans, and others. Chapter 7 is designed to give people a fresh start.

Chapter 13 is a bankruptcy proceeding in which a person can pay back a portion of or all of his or her debts, interest free, over a three to five year period. Chapter 13 allows people to pay arrearages on their mortgage or car loan over this period. If you are behind on your house or car payments, Chapter 13 can allow you to keep them.

What About My Credit?
It is no secret that bankruptcy will harm your credit, it will be shown on your credit report. If you have past due accounts on your credit report, however, those are hurting your credit as well. Additionally, your credit can be rebuilt after bankruptcy through responsible credit use and timely payments on your utilities and other accounts. Our firm can advise you on how to rebuild your credit.

Can I get a Credit Card after Bankruptcy?
Yes, there are several options available. While technically not a credit card you could use a bank or debit card to perform activities for which you normally would use a credit card. You also may be able to keep the credit card you already have if the creditor grants approval. If these options do not work you can get secured credit card which is backed by your own bank account.

Will I have to go to court?
Yes. You are required to attend a short hearing during which the court appointed trustee will go over the paperwork that we filed. But as your attorney we would be there with you.

What is the legal cost for bankruptcy?
This depends on your situation and the complexity of your case. Our attorneys would be happy to quote you a fee range after an initial consultation. Our firm can be retained for as little $100.00. We are happy to set up a payment plan for our clients.

Are the Bankruptcy Laws Changing?
Yes. There is a bill in front of congress that would make it much more difficult to file bankruptcy. There is still time to file under the current law.