Bankruptcy Lawyer for Pewaukee, WI
Debt can be a major stressor, if you find yourself drowning with no way out, rest assured that you do have options for relief and peace of mind. At Horizons Law Group, you will work with a dedicated, experienced, and empathetic bankruptcy lawyer so you can receive the relief and fresh start that you deserve. We are proud to offer our legal services to those in and around Pewaukee, WI.
Our Bankruptcy Attorney Services
We will work closely with you to determine which form of bankruptcy is the right path for you, your current financial situation, and your future financial goals. Throughout the entire process, you can count on a legal experience that is driven by expertise and an aim to get you in a better place.
Continue reading this page to learn about the different forms of bankruptcy. If you are ready to discuss your case with a professional, feel free to reach out to us today.
Chapter 7
Chapter 7 is a personal bankruptcy to liquidate (discharge) your unsecured consumer debts such as credit cards and medical bills. This is sometime referred to as wiping out your debts.
In some cases, you can retain your home, your vehicle, and usually your personal belongings. In some cases, you may not qualify for a Chapter 7 bankruptcy and may want to consider a Chapter 13 bankruptcy or Chapter 128 payment plan.
Call today to see if you qualify
262-432-3600.
Chapter 13
Chapter 13 is a bankruptcy where you and the attorney put together a "Plan" to repay a portion of your debt (generally 5% - 100% of unsecured debts and 100% of secured debt such as vehicle or mortgage debt) and discharge the other portion upon successful completion. You must have a steady flow of income and auto-pay (or wage withhold) a portion of your income into the bankruptcy plan for a period of three to five years (36 - 60 months) until the plan is complete. You can add past-due mortgage payments or vehicle loan payments to the plan to allow you to retain or 'protect' that asset. The Chapter 13 Trustee appointed to your case monitors your timely payments throughout the plan, including applying income tax refunds towards the debt in the plan. Failure to make timely payments may result in the dismissal of your case. You only receive a discharge once the plan has come to full successful completion.
Call today to see if you qualify
262-432-3600.
Chapter 128
A Chapter 128 is a is not a bankruptcy. However, it does allow you to repay your unsecured debts with 0% interest over a period of time not to exceed 36 months. It will stop garnishments, and interest and penalties. However, it will not address tax debt or secured debts (vehicles or homes). It is allowed under Wisconsin State laws (Chapter 128). It is a nice option if your debt could be manageable if it weren’t for the interest or garnishments. e.g. $18,000 in credit card debt is $500/mo. over 36 months. However, paying that over time to the creditor with interest could tax more than 12 years (144 months). Hence, it is faster, cheaper (less than $1,000), and requires no court appearances. Best of all, you do not have to include all debts. You could just do apply this to one or two of your worst debts/creditors.
Call today to see if you qualify
262-432-3600.
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Foreclosure Defense
Relief IS possible!
Facing a foreclosure or will be soon? You CAN defend against is and save the investment in your home. You only have 20 days to respond after they serve you. The mortgage modification process will not stop the legal foreclosure proceedings. Call today to see how to save your home 262-432-3600..
Very few attorneys realize that you can defend a foreclosure using the same civil process available to all types of civil court cases. The process will allow you to have a "seat at the table" so-to-speak to be able to discuss saving your home and getting back on track. As a homeowner, you only have one chance to do that - by filing an Answer to the bank's Complaint within 20 days. Don't delay the call or believe that modification or showing up in court will allow you to work something out. Unfortunately it won't. The legal process is just that -a process that has procedures and timing that you have to comply with. We can help.
Will the Bank Work With Me?
No, not to stop the foreclosure. Foreclosure departments process their own documents, entirely separate from modification departments. The two departments are not coordinated and you should NOT rely on a modification going through before the foreclosure is complete. You should also not ignore foreclosure filings or deadlines because the bank or others tell you not to worry about these. There is NO guarantee your modification will go through. The banks either work out the modification with you or take the home back to resell. Either way, your legal rights are unprotected and you could lose the home you were trying to save. You may have spent thousands to update, remodel, or repair the home which is lost to you and the bank.
In the meantime… You may not be aware that your mortgage had been previously bundled and sold, and the company filing foreclosure against you may not be the legal owner of the note and mortgage. Any of the above may apply to your home loan and allow you to defend against a foreclosure. You may be so stressed you are considering bankruptcy, foreclosure defense is an alternative. If after discussing alternatives to foreclosure, you are still considering bankruptcy, we provide those services as well.
What to Do?
Saving your home from foreclosure is a possibility for anyone who has experienced a job loss, medical or health issues, divorce, death of a spouse, etc. Legal defense of your foreclosure can offer you RELIEF with the possibility of saving the home you have invested in, and in a neighborhood you choose to live in. The ultimate goal of each homeowner may be different, but rest assured, you may have legal options to meet those goals. Please call today 262-432-3600 and speak to one of our Attorneys practicing in this area.
Seniors & Foreclosure… The elderly person facing a foreclosure has options as well. You do NOT need to move out of your home immediately. Consultation with an experienced attorney who can advise you or your elderly parent on the legal defenses and options with foreclosure is critical. Speaking early on or before the foreclosure if filed is critical. Call today 262-432-3600.
Bankruptcy - Prior to Filing
MANDATORY CREDIT COUNSELING
You must get credit counseling from an approved nonprofit budget and credit counseling agency within 180 days prior to filing bankruptcy. There are a few exceptions.
GATHERING INFO A monthly budget (living expenses), monthly income for the last six months, and full disclosure of all personal property, assets and debts are required. Forms are generally provided to complete this information. A credit report can also be obtained for free from www.annualcreditreport.com Once the information is gathered; the property bankruptcy tests are run and forms completed. The forms are then reviewed for accuracy and signed under oath (sworn, penalty of perjury) prior to filing.
PAYMENT OF DEBTS Generally you should not pay more than a usual monthly payment to any one creditor within 90 days prior to filing bankruptcy, including loans from family members. If more than $600 is paid in the 90-day period prior to filing for any one creditor, the Trustee can request that money back into the bankruptcy estate to be paid to all creditors in proportion (fair treatment to all creditors). Exceptions are things like your usual mortgage or vehicle payment. Repayment of family loans within 4 years prior to filing bankruptcy will be reviewed by the Trustee and may be owed back.
RETAINING/KEEPING ASSETS
Due to the financial aspects of bankruptcy, assets are also thoroughly scrutinized. Many assets can be protected (kept by you) when you file bankruptcy as they are exempted under certain state or federal laws. Any assets transferred or given away will be reviewed and may be owed back, up to four years prior to filing the case. Fraud in bankruptcy is very serious and results from several ways, including not disclosing assets or transferring of assets to avoid inclusion in the bankruptcy estate.
Bankruptcy Forms Provided by Horizons Law Group, LLC
Bankruptcy - After Filing
MANDATORY DEBTOR EDUCATION
After filing, you must complete an approved education course in personal financial management before your debts will be discharged (wiped out).
TAX RETURNS
Tax returns (through the most recent tax year) must be provided (or a transcript) at least 7 days before the §341 meeting of creditors or the case will be dismissed. The tax return(s) must also be provided to any creditor who requests it. All tax returns must be filed for a plan to be confirmed in Chapter 13. The debtor must file all returns for the last 4 years prior to the Chapter 13 filing.
Other Information Regarding Bankruptcy Procedures
MEANS TESTING
If your income is above the state median income ($42,356 to $80,530 for Wisconsin, depending on the size of your household), you must pass the means test or your case may be dismissed. If your income exceeds the state median income, you may still qualify to file chapter 7 if you pass the means test. If you fail the means test, your attorney could still argue for an exemption, or you may also consider a Chapter 13 Bankruptcy.
FRAUD EXCEPTION TO DISCHARGE FOR LARGE RECENT DEBTS
Under both the old and new law, debts incurred through fraud are not discharged (i.e., wiped out) if the creditor files an Adversary Proceeding before the deadline and proves fraud. A debt totaling $500 or more to single creditor incurred within 90 days of filing for luxury items are presumed fraudulent, as well as cash advances of $750 or more within 70 days before filing.
WAITING PERIOD FOR PRIOR FILERS
You cannot receive a chapter 7 discharge if you previously filed a chapter 7 and received discharge unless 8 years has passed since the filing of the first case to the filing date of the new case. You cannot receive a chapter 13 discharge if you received a chapter 7 discharge within 4 years of the filing date of the new case. You cannot receive a chapter 13 discharge if you received a chapter 13 discharge within 2 years of the filing date of the new case.
REAFFIRMATIONS
You will not be allowed to reaffirm a debt if your monthly expenses, including the reaffirmed debt, exceed your monthly income. In addition, the automatic stay terminates if you fail to file your statement of intentions within 30 days of filing and carry out those intentions (i.e., reaffirm, redeem surrender, etc.) within 30 days after the first date set for the §341 meeting of creditors. Failure to either reaffirm or redeem the property within 45 days after the §341 meeting results in termination of the automatic stay and allows the creditor to exercise whatever remedies it has under applicable non-bankruptcy law.
NO AUTOMATIC STAY IN SERIAL FILINGS
The automatic stay terminates after 30 days if you file a chapter 7 or 13 within 1 year after a prior bankruptcy case was dismissed. There is an exception for a case re-filed in another chapter after a dismissal of a Chapter 7 case based on the means test).
NON-DISCHARGABLE DEBTS
The following debts will not be dischargeable: Debts for trust fund taxes (i.e., sales, withholding taxes, etc.); Taxes for which returns were never filed or filed within two years of filing bankruptcy; Taxes for which the debtor made a fraudulent return or evaded taxes; Debts incurred through fraud or false statements; Debts not listed in the bankruptcy; Defalcation by a fiduciary; Domestic support payments; Drunk driving injuries; Criminal restitution; Fines and penalties; Civil restitution; and Damages awarded for willful or malicious personal actions causing personal injury or death.
EVICTION PROCEEDINGS
The automatic stay will no longer prevent an eviction if the debtor failed to pay rent after filing.
Areas Served: Brookfield, Pewaukee, Waukesha, New Berlin, Muskego, Menomonee Falls, West Milwaukee and Milwaukee and more
Horizons Law Group, LLC
Phone: (262) 432-3600
Email: askinfo@horizonslaw.com
Address: 611 N. Barker Rd., Suite 209, Brookfield, WI 53045