Bankruptcy

Appleton, Wisconsin, Bankruptcy Lawyers

AGGRESSIVE • EXPERIENCED • TRUSTED

Introduction
Chapter 7
Chapter 13
FAQ’s

Debt Relief In Wisconsin

At Sisson & Kachinsky Law Offices*, we help people who need relief from significant debt. Our experienced bankruptcy lawyers explain the various options allowed under Federal bankruptcy law. We advise Fox River Valley clients on the benefits of each filing option, and then represent them during bankruptcy proceedings. If you need sound legal advice and representation regarding bankruptcy, contact Sisson & Kachinsky Law Offices* today.

Introduction
People who are having difficulty paying their debts sometimes consider bankruptcy to obtain relief from collection efforts, eliminate some or all of their debts or restructure their debt payments to a more manageable level. This site gives you general information about bankruptcy and is not intended to be a substitute for consulting qualified legal advisors.  We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

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Chapter 7 / Debt liquidation
Chapter 7 is a federal bankruptcy law enacted by Congress to provide a means for individuals, married couples or businesses in financial difficulty to achieve a fresh start. Chapter 7 allows individuals to discharge (and not pay) unsecured debts, keep many assets, and start over. Unsecured debts include many but not all purchases made on credit cards. Filing under Chapter 7 allows you to keep many assets and then start over. In exchange, the debtor surrenders the remainder or non-exempt assets, if any, to be liquidated for the benefit creditors. Chapter 7 does not discharge student loans, certain IRS debts, family obligations, or criminal obligations.

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Chapter 13 / Debt repayment
Chapter 13 is a wage earner repayment plan. It is a federal law designed to help individuals, married people and single-owner businesses repay a portion of their debts with dignity and peace of mind. A plan for the repayment of debts is created by you and your attorney and, with the approval of your creditors, confirmed by the Court. A Chapter 13 bankruptcy filing may:

· Allow you to stop foreclosure on your home
· Give you time to catch up on your house payments
· Stop repossession of your vehicle
· Stop the IRS from garnishing your wages

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New Bankruptcy Law took effect in October, 2005
The new law contains major changes to bankruptcy rules.  Many filings that were allowed under Chapter 7  no longer qualify under the new law. Call our bankruptcy attorneys to learn how the new law will affect your filing.

Key points of the new bankruptcy law include:

• Credit counseling from a non-profit budget and credit counseling agency is now a prerequisite for filing bankruptcy.  Credit counseling must be completed within 180 days of filing, and may be completed by phone, internet, or in person.    
• There is now a continuing education requirement for those involved in bankruptcy proceedings.  Debtors must complete an instructional course on financial management in order to receive their final discharge.  This course may be completed over the phone, internet, or in person.   
• All individuals seeking bankruptcy relief will be required to qualify under the new “means test.”  Contact us to learn more.

If you have questions regarding debt relief or whether you should file for bankruptcy, call Sisson & Kachinsky Law Offices*.

Free initial consultations • Evening hours available
Licensed in Wisconsin and New York

We are a debt-relief agency. We help people file for bankruptcy relief
under the Bankruptcy Code.