The decision to file bankruptcy is not an easy one.

It will be one of the most difficult decisions of a persons financial life. Because this decision is such a major decision you should never choose a bankruptcy option without an in-depth consultation with an experienced bankruptcy attorney. Our attorneys will help you make the right choice for you and your family.

The first choice you will need to make is what chapter of bankruptcy is right for you and your circumstances. Just like every person is unique so are the factors that go into determining which chapter of bankruptcy fits your circumstance.

There are generally two chapter’s of consumer or individual bankruptcy. The Chapter 7 liquidation bankruptcy and the Chapter 13 individual debt reorganization plan, which is also called the wage earners bankruptcy.

We are a debt relief agency. We help people file for bankruptcy relief under the bankruptcy code.

Call for a free consultation

Mobile: (920) 727-0775

Office: (608) 258-8555

Krekeler Strother, S.C.
2901 West Beltline Highway, Suite 301
Madison, WI 53713

Chapter 7 Bankruptcy

A Chapter 7 bankruptcy is a liquidation bankruptcy. All of your debt (that is dischargeable) will be discharged in this bankruptcy. In most cases, you will be allowed to keep your secured assets, as well as the debt that goes with them, if you can show the Court that it is not an undue hardship on your future financial situation to keep that debt. Attorney Angell will review your situation to determine if you qualify for a Chapter 7 bankruptcy.

Not everyone will qualify for a Chapter 7 bankruptcy. If you earn over the median income level for your family size or you have assets that are not exempt you may be required to file a Chapter 13 bankruptcy or our attorneys may recommend several non-bankruptcy options for your situation.

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Chapter 13 Bankruptcy

A Chapter 13 bankruptcy is a wage earner repayment plan. It is designed for individuals with regular income who can pay all or part of their debts in installments over a period of time. You will be required to propose a plan to the Court which will repay your creditors a pro-rata share of your disposable income over the next 3-5 years. Both the amount you are required to pay and the period of repayment will depend upon your income, the type of debts, and many other factors.

Your proposed plan must be recommended for confirmation by the Trustee appointed to your case and approved by the Court. You must complete your plan in order for your remaining debts to be discharged. Attorney Angell will work closely with you to determine your expenses, income, and obligations and propose a plan that will be successful for your long term financial life.

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Questions we will discuss with you:

You will be asked to disclose all of your assets as well as their fair market value. State and federal law provide exemptions that will allow you to keep most of your assets up to a specific value. The Trustee appointed to your case may have the right to take possession of and sell the remaining property that is not exempt or otherwise pledged and use the sale proceeds to pay your creditors.

Yes, you will be asked to disclose all of your creditors at the time of your bankruptcy. Once you file the bankruptcy the Court will provide notice to all of those creditors, who then will have time to object to you discharging those debts. If a creditor can prove that you obtained credit through fraud, breach of fiduciary duty, or theft the bankruptcy Court may rule that the particular debt is non-dischargeable.
Generally no. This is a hot topic right now and the laws may be changing. But currently there are very few ways to discharge your student loan debt. Attorney Angell will go over your situation and discuss your options.
Yes, you may be responsible for taxes, domestic support and child support obligations, fines, penalties and criminal restitution obligations. We will review these obligations with you and help determine their dischargability under the current law.
Yes, once your bankruptcy case is filed all garnishments must stop. You may also be entitled to demand the return of funds that have been garnished. Call us today to help you find your fresh start (920) 727-0775.

Attorney Angell, with Krekeler Strother, S.C.

Wisconsin’s Most Trusted Bankruptcy Law Firm. Bringing confidence to your tomorrow.

We are a debt relief agency. We help people file for bankruptcy relief under the bankruptcy code.