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Wisconsin Means Testing

Bankruptcy laws enacted in 2005 required debtors to “pass” a means test before filing a Chapter 7 bankruptcy. The means test is based upon your family size, geographical location, and income as determined by standards set by the IRS.

The first part of the means test (currently Form 122A-1) looks solely upon the last six […]

By |June 28th, 2016|Bankruptcy|Comments Off on Wisconsin Means Testing

Federal Exemption Laws v. Wisconsin Exemption Laws

Bankruptcy Myth – You will lose all of your property when you file bankruptcy

Short Answer – Not likely.

The Bankruptcy Code requires the debtor to disclose all of their assets to the Court and the Trustee. This disclosure must accurately describe and give a reasonable value for their assets/property.

Your assets include everything from your […]

By |June 10th, 2016|Bankruptcy, Uncategorized|Comments Off on Federal Exemption Laws v. Wisconsin Exemption Laws