Wisconsin Bankruptcy Attorneys
Considering filing bankruptcy in Wisconsin? Learn about Wisconsin bankruptcy laws and how they may protect your property when you file bankruptcy.
Each state offers different exemptions and Wisconsin bankruptcy attorneys are familiar with the workings of the laws in their state.
The exemptions used by Wisconsin bankruptcy attorneys may include:
Homestead: Up to $40,000 worth of a home.
Wages: 75 percent of your income.
Vehicle: One motor vehicle worth up to $1,200, plus any unused amount of the personal property exemption.
Personal Property:
- Up to $5,000 worth of household goods, furnishings, clothing,
keepsakes, jewelry, appliances, books, musical instruments, firearms,
sporting goods, animals or other personal property.
- Up to $7,500 worth of equipment, inventory, farm products and professional books used in a trade or business.
To contact a local Wisconsin bankruptcy attorney, call 877-349-1309 or fill out the below free bankruptcy case evaluation form.
Filing Chapter 7 or Chapter 13 in Wisconsin
You may get immediate protection from your creditors when you file for Chapter 7 bankruptcy.
The first step is filing a bankruptcy petition in court. This document should ask you to list personal information, including all of your income, your assets, your expenses and your debts. You must also indicate applicable exemptions to which you're entitled.
Then, your attorney may file the Chapter 7 bankruptcy petition in local court.
When this occurs, the court appoints a trustee to your case and an automatic stay is entered, which is a court order that prevents creditors from taking any further action against you outside of court. Results of the automatic stay may mean:
- An immediate stop on creditor calls and bills
- Your property cannot be seized
- Creditors cannot sue you
- Your house cannot be foreclosed upon
- Your paycheck cannot be garnished
- You car cannot be repossessed
- A stop on foreclosure action by bank
- Your suspended driver's license must be reinstated
When you file bankruptcy, it's important to follow your lawyer's counsel so you don't disobey state bankruptcy laws and refrain from:
- Attempting to conceal your property
- Destroying financial records
- Violating a court order
- Making enormous, last-minute charges on your credit cards
Find a Wisconsin bankruptcy attorney office near you today: 877-349-1309
Note: Keep in mind all laws are complex. If you need legal advice or want to fully understand how these laws affect you, please speak with a local attorney.
Laws may have changed since our last update. For the latest information on your state's bankruptcy laws, speak to a local bankruptcy lawyer.