Will Bankruptcy Work for Me?
At Michael D. Schuman & Associates, LLC you’ll meet with an attorney to discuss your financial problems and learn how either Chapter 7 or Chapter 13 bankruptcy may help. We’ll discuss all your options; bankruptcy and non-bankruptcy will be considered.
We will help you to make a good, informed decision and disclose and explain all costs and fees up front. No one likes surprises!
Chapter 7 Bankruptcy
Chapter 7 bankruptcy is available to clients that qualify to provide relief from most bills, and allows you to begin with a fresh start! The main idea is to get relief from your bills, while keeping assets that are necessary for a fresh financial start.
Chapter 13 Bankruptcy
Chapter 13 bankruptcy is for those who qualify. It is a wage earner plan which requires a stream of on-going income to pay off debt through compromise. It can help to save your home from foreclosure or your automobile from being repossessed.
The attorneys at Michael D. Schuman & Associates, LLC will explain the differences in greater detail during your free initial consultation.
Frequently Asked Questions
What exactly is bankruptcy?
Bankruptcy is a legal proceeding where a person or company who is having difficulty meeting financial obligations can get relief. The right to file for bankruptcy is provided by federal law, and all bankruptcy proceedings are handled in federal bankruptcy court. Filing bankruptcy generally stops most creditors from seeking to collect debts. The goal of most debtors is to obtain a discharge order from the bankruptcy court. The discharge order has the effect of eliminating debt that was incurred prior to the bankruptcy filing.
How will bankruptcy help me?
Generally, bankruptcy is designed to give you relief from your debts, while allowing you to keep certain assets that are critical for a fresh financial start. Because the guidelines are complicated, we will go over this with you carefully at a free initial consultation.
How much will Chapter 7 or 13 Bankruptcy cost?
The filing costs and fees will be discussed at the free initial consultation. Payment arrangements are possible.
Approximately how long will a bankruptcy take?
A Chapter 7 Bankruptcy generally takes 4 months, once filed.
Will I be working with an attorney or a paralegal?
At Michael D. Schuman & Associates, all important work is done by attorneys; an attorney will take the file in; an attorney will do the work-up with the client; an attorney will be present at the time the file is executed and submitted to the Bankruptcy Court; an attorney will appear at all court proceedings.
Can I talk with an attorney?
All initial consultations for the filing of a bankruptcy or an inquiry are free. At that time the various forms of bankruptcy will be discussed, as will other alternatives. All questions will be answered by an attorney.
Get a Fresh Start! Call (414) 352-7161
We’ll help find you a financial solution to save you time and money. Simply fill out the form or call us to find out all options that are available to you. Start regaining control of your finances and contact us now.
Contact Schuman Law Milwaukee
Contact our office today through our convenient online form or by calling 414-352-7161 to schedule a free initial consultation.
* DISCLAIMER: The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.