Recent years have seen an increased number of Americans turn to bankruptcy as a means of getting out of debt. Bankruptcy can be a very technical and fearful prospect for many people, but also a very beneficial one if you find yourself overwhelmed by debt and unable to repay the balance. If you are considering turning to bankruptcy as a way to address mounting debts, speak to experienced bankruptcy attorneys first, before settling on course of action. Van Hoof & Schneider Law Firm of Little Chute, WI is proud to offer some of the area’s best lawyers and legal support to folks in need of bankruptcy support.
The bankruptcy attorneys at Van Hoof & Schneider Law Firm guide clients through the bankruptcy process and help them get out of debt. Do not be afraid of considering bankruptcy as an option if you have been affected by divorce or an economic downturn and find yourself overwhelmed with debt that you are unable to repay. We can help put your fears to rest.
Chapter 7, sometimes called “liquidation bankruptcy,” is perhaps the most common form of bankruptcy for individuals and small businesses. Under Chapter 7, most debts and debt collection practices are halted while a debtor’s assets are tallied and distributed. At the end of a proscribed period, the debtor has their debts discharged, and they are given a “fresh start.”
To qualify for Chapter 7 bankruptcy and obtain a discharge from eligible debts, you must follow several important steps, including:
There are other requirements as well, including undergoing credit counseling and meeting with a trustee overseeing the process. If the petition is approved, an order to stay existing debts is issued by the court. The court uses your non-exempt assets to satisfy those debts, after which they are discharged and you have a “fresh start.” These steps may seem overwhelming or confusing, but the bankruptcy lawyers at Van Hoof & Schneider Law Firm are here to help guide you through this legal process.
Wisconsin’s Chapter 128 is a valuable tool for Wisconsinites seeking to get out of debt. Under this option, someone in debt can get back to financial health through a repayment plan filed with the court. In operation, it is similar to filing for federal bankruptcy under Chapter 13.
Wisconsin’s Chapter 128 does not discharge all debts and liquidate certain assets, as federal Chapter 7 bankruptcy does. It is considered to be less invasive than filing for federal bankruptcy, and perhaps simpler as well. Under the chapter, a court stays all debts and debt collection practices, and you must file a repayment plan with the court that outlines how you intend to repay creditors. It has several significant differences from federal bankruptcy and a Wisconsin court cannot directly discharge your debt. However, it is an important tool that one can consider when looking for debt relief options, and our bankruptcy attorneys can explain more.
Contact a bankruptcy lawyer to learn more about bankruptcy in Wisconsin and other debt solutions
The bankruptcy lawyers with Van Hoof & Schneider Law Firm assist and guide our clients through the bankruptcy process, helping them to get out of debt and move forward. The goal of bankruptcy attorneys with Van Hoof & Schneider is to ensure you understand the requirements and receive the most favorable resolution possible. We are conveniently on Main Street in Little Chute. Contact us at 920.788.3543 or online to schedule a 30-minute free lawyer consultation.
"Casey, kindness like yours makes a difference. Thank you for all you’ve done for me!"
- Donna Bauman, client.
MEET CASEY P. SCHNEIDER
Casey Paul Schneider obtained his Bachelor of Science, Dean's List, 1990, from the University of Wisconsin at Oshkosh and his Juris Doctor, Dean's List, 1994, from Thomas M. Cooley Law School.
OUR LOCATIONVan Hoof & Schneider Law Firm
Van Hoof & Schneider Law Firm is in Little Chute, Wisconsin and serves clients in and around Little Chute, Kaukauna, Appleton, Combined Locks, Sherwood, Calumet County and Outagamie County.