626 E. Wisconsin Ave. 14th Floor
Milwaukee, Wl 53202
Phone: 1-414-272-0077
Toll Free: 1-866-872-8363
Fax: 1-414-272-0102
55 E. Monroe, Suite 3800,
Chicago, IL 60603
Phone: 1-312-801-3000
Toll Free: 1-866-872-8363
Fax: 1-414-272-0102

Bankruptcy FAQ

If you’re considering bankruptcy or debt consolidation and repayment, you likely need answers fast! Credit Solutions, SC’s qualified bankruptcy lawyers offer the legal expertise best remedying your financial situation.

Confronted by recurring questions about bankruptcy and debt repayment options throughout their careers, Credit Solutions bankruptcy attorneys have compiled them into an informative online resource for your convenience. Our bankruptcy FAQ page provides information for all phases of debt resolution, while addressing the most relevant bankruptcy questions.

If consulting a bankruptcy attorney is necessary for your financial situation, our FAQs will help familiarize you with the process, making your consultation more comfortable. From choosing a bankruptcy chapter best suited to your financial situation to learning how bankruptcy will affect your future credit, Credit Solutions’ FAQs answer your most pressing questions about bankruptcy and debt consolidation.

If you need additional information about the best solution for your financial situation, call Credit Solutions at 1-414-272-0077 to speak to a professional bankruptcy attorney about getting your financial future back on track.

For more bankruptcy questions, call the bankruptcy lawyers of Credit Solutions, S.C. at 1-866-872-8363 today!

Bankruptcy FAQ

Do I include my utilities as part of my debt?
How does filing bankruptcy affect my credit?
How long do bankruptcy proceedings take?
Do I have to go to court when filing bankruptcy protection?
Can I keep my property when filing for bankruptcy?
Do I have to include all of my creditors?
Once I retain Credit Solutions, S.C. can creditors still bother me?
Do I need to update my information if something changes?
Why do I need a picture ID and proof of social security number?
Can I switch from Chapter 13 to Chapter 7 and can I cancel it if I want to?

Do I include my utilities as part of my debt?

Yes. The utilities are monopolies and as such cannot deny you service if you file bankruptcy. Once a case is filed, we work immediately to stop your shut off or get you back on.

How does filing bankruptcy affect my credit?

Chapter 7 bankruptcy can remain on your credit for as long as 10 years and Chapter 13 for 7 years. However, your creditors cannot report negative things on your credit report once you file a case. Thus, your credit rises upon filing as long as you remain current on your future debt.

How long do bankruptcy proceedings take?

With your cooperation, we can file a case almost immediately.

A typical Chapter 7 Bankruptcy takes about 3 months but you are protected from creditors immediately. A typical Chapter 13 repayment will take as long as we propose the plan to be, which is similar to a Chapter 128 repayment.

Do I have to go to court when filing bankruptcy protection?

If you file a Chapter 7 or a Chapter 13, YOU WILL HAVE TO GO TO COURT AT LEAST ONCE. In a Chapter 7, there is a court meeting that usually takes a few minutes and we are with you. At this meeting, you are asked simple questions about the paperwork we prepare with you. If you file a Chapter 128, there is usually no court for you to attend.

Can I keep my property when filing for bankruptcy?

Typically, yes. In a Chapter 7, you can keep your property if it doesn’t exceed the exemptions allowed. The exemptions in Wisconsin are very generous. If the property has a lien or loan against it, you can keep the property if you still wish to pay on the lien. You can surrender the property and be relieved of paying the debt. In a Chapter 13, as well as a Chapter 128, unless you want to surrender some property, you will keep all of your property.

Do I have to include all of my creditors?

Yes in a Chapter 7 or 13. The law requires that you list all of your creditors (even family members). In a Chapter 7, you can choose to repay any creditor voluntarily. In a Chapter 13, most creditors will cancel your accounts. In a Chapter 128, you can choose which creditors to choose and which to leave out.

Once I retain Credit Solutions, S.C. can creditors still bother me?

There are laws preventing collectors from contacting you directly (by phone) once you have retained an attorney. Thus once you hire us, you can tell the collector that you have hired Credit Solutions, S.C. to file a bankruptcy, or chapter 128 and give them our phone number and they should leave you alone. This will not stop the bills from being sent but should stop the phone from ringing. Once you file a case with us, they cannot contact you anymore! Contact Credit Solutions today to stop creditor harassment.

Do I need to update my information if something changes?

This is very important, we as your attorneys, need to be able to reach you, before, during and after the case has been filed. We are required to inform the court of any address changes within 6 months of the filing of the case. Please keep our office apprised of your changes in phone numbers, addresses, jobs, etc.

Why do I need a picture ID and proof of social security number?

The court is trying to verify that everyone who files bankruptcy is who they say they are. It is really for everyone’s protection against mistakes.

Can I switch from Chapter 13 to Chapter 7 and can I cancel it if I want to?

You can switch from a Chapter 13 to a Chapter 7 if you haven’t filed a previous Chapter 7 in the last eight years and otherwise qualify. Usually there is a reason you filed for a Chapter 13 – if that reason is no longer important, then you can convert to a Chapter 7. You can also cancel a Chapter 13 voluntarily at any time by notifying the court.

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