brwq2521-oon69tpgb51oacjf

How a Bankruptcy Lawyer Can Help You Regain Financial Control

Fri, 03 Apr 2026 11:09:30 GMT

If you are facing serious debt, working with a bankruptcy lawyer in West Allis, WI , may be your first step toward regaining financial control. At Credit Solutions, S.C., we know how overwhelming debt can feel. With the right legal guidance, you can stop collections, prevent wage garnishment, and find a clear path to debt relief. This article explores how expert support can help you move forward with less stress.

Understanding Bankruptcy Law Made Simple

Bankruptcy is a legal process designed to help people who cannot pay their debts. It can sound complicated, but a knowledgeable attorney makes it easy to understand. The two most common types are Chapter 7 and Chapter 13. Chapter 7 can clear out most debts if you qualify, giving you a fresh start. Chapter 13 lets you set up a payment plan to pay back what you owe over time.

Many people worry that bankruptcy means losing everything. In reality, your attorney works to protect what matters to you and ensures the process matches your needs. They will explain which assets are safe, which debts can be erased, and how bankruptcy could affect your credit. Your legal advisor will answer questions in clear language so you never feel lost or confused.

How a Bankruptcy Lawyer Stops Debt Collections

Constant phone calls and letters from creditors can make anyone anxious. With the help of an experienced attorney, you have someone who handles creditor communications for you. As soon as you file for bankruptcy, creditors are legally required to stop all collection activity. This “automatic stay” protection is immediate and powerful.

Your legal representative files all the required documents and notifies your creditors about your case. Once the automatic stay is in place, you have space to breathe and plan your next moves. Collection agencies, lawsuits, and even repossessions must pause. If any creditor tries to break the rules, your lawyer knows how to enforce your rights.

Preventing Wage Garnishment and Protecting Your Income

Wage garnishment happens when money is taken from your paycheck to pay debts. This can make paying for everyday needs much harder. When you hire an attorney, wage garnishment can be stopped quickly. After filing for bankruptcy, creditors cannot take money from your pay without court approval.

Your lawyer will make sure all paperwork is correct and submitted on time. They will check with your employer and follow up with creditors, protecting your income so you can focus on your family and daily expenses. This step helps you avoid sudden drops in take-home pay and keeps your finances more stable.

Creating a Clear Path to Debt Relief

There is no one-size-fits-all solution for debt relief, so your attorney takes time to understand your unique situation. They review your debts, income, and assets, then find the solution that works best for you. Most regular debts, like credit cards and medical bills, can be discharged through bankruptcy. Some debts, such as student loans or tax debts, may need special strategies.

With the help of a skilled legal advisor, you receive a customized plan. They will discuss alternatives if bankruptcy is not the right fit, such as debt negotiation or payment plans. Their goal is to help you regain control and set up a brighter financial future, whether through bankruptcy or another option.

The Power of a Personalized Consultation

A consultation is your chance to share your worries and ask questions. During this meeting, your attorney listens closely, reviews your case, and explains which steps you can take next. You will learn which bankruptcy chapter is right for you, what paperwork is needed, and how the whole process works.

Many people leave a consultation feeling hopeful because they finally have clear answers and a solid plan. Even if you are not ready to file right away, your lawyer will make sure you understand all your options and the timeline involved. You can move forward with confidence and peace of mind, knowing an expert is there to help you every step of the way.

Benefits of Working With a Bankruptcy Lawyer

Stops creditor harassment and collections right away.
Prevents wage garnishment and protects your income.
Explains bankruptcy law using simple terms.
Designs a plan based on your unique finances.
Supports you through all paperwork and court steps.
Answers your questions and keeps communications clear.

Picking a bankruptcy lawyer makes the process less stressful. You have an expert explaining each step and taking care of the paperwork, guiding you from the first consultation until your case is complete. This support helps you feel confident as you work toward financial recovery.

Start Your Journey to Financial Control With Credit Solutions, S.C.

If you are ready to take back your finances and end the stress caused by debt, now is your chance to talk with a bankruptcy lawyer. Credit Solutions, S.C. helps West Allis, WI, residents find real solutions and lasting relief. Contact us today to schedule your consultation and start your first step toward financial freedom!

A Homeowner's Guide From a Chapter 13 Bankruptcy Lawyer

Thu, 18 Dec 2025 20:00:27 GMT

If you're a homeowner facing serious financial challenges, understanding your options is essential. Credit Solutions, a chapter 13 bankruptcy lawyer serving Waukesha, WI, is ready to guide you through the complexities of reorganization and help you make an informed, confident decision about your financial future. This comprehensive guide covers everything you need to know about Chapter 13 bankruptcy, specifically tailored for homeowners like you, and explains how working alongside an experienced firm can make all the difference.

Understanding Chapter 13 Bankruptcy and Why It Matters to Homeowners

Choosing to file for bankruptcy can be overwhelming, especially when your home is at stake. Chapter 13 bankruptcy is often called a "wage earner's plan" because it enables individuals with regular income to develop a plan to repay all or part of their debts over time. Unlike Chapter 7, which may involve liquidating assets, Chapter 13 allows you to keep your property, including your home, if you stick to a court-approved repayment schedule.

For homeowners in Waukesha, WI, Chapter 13 can serve as a lifeline—offering the possibility of catching up on missed mortgage payments, stopping foreclosure proceedings, and avoiding the stress of losing cherished property. A chapter 13 bankruptcy lawyer is not just a legal ally but a guide with a nuanced understanding of both bankruptcy and mortgage law. Navigating this process is critical, and Credit Solutions offers unbiased advice to help you evaluate whether bankruptcy or another debt solution is best for your unique situation.

The Chapter 13 Bankruptcy Process: Steps and Expectations

Embarking on the Chapter 13 journey begins with understanding the process. Homeowners often have unique concerns, such as protecting their house, negotiating with creditors, and ensuring a manageable repayment plan.

A chapter 13 bankruptcy lawyer serving Waukesha, WI, like those at Credit Solutions, can help with essential steps including:

1. Assessing Eligibility

Chapter 13 is available to individuals (and couples) with consistent income and unsecured debts below a certain threshold. Your attorney evaluates your finances and confirms if this path is possible.

2. Filing the Petition

This includes submitting detailed paperwork about income, assets, debts, and expenditures. Full transparency is crucial to build a realistic repayment schedule.

3. Automatic Stay Protection

Once filed, an "automatic stay" halts creditor actions such as foreclosure, giving residents breathing room to reorganize debt. Homeowners often find this immediate relief invaluable.

4. Creating a Repayment Plan

The heart of Chapter 13 lies in the development of a plan that lasts three to five years. The plan allocates payments toward secured debts (like mortgages) and unsecured debts (credit cards, medical bills).

5. Court Approval and Plan Execution

After review, the bankruptcy court must approve your plan. Following approval, you make monthly payments under court supervision.

Throughout each step, having unbiased advice from your Chapter 13 bankruptcy lawyer—whether bankruptcy or mortgage modification is appropriate—ensures homeowners make the best possible decisions for themselves and their families.

Saving Your Home: Chapter 13 Benefits for Homeowners

One of the most important benefits of Chapter 13 bankruptcy is the ability to halt foreclosure and save your home. For many, this is the driving force behind pursuing reorganization.

Even if foreclosure proceedings have already begun, filing for Chapter 13 creates a legal shield that stops further action and allows you to address overdue payments across the next several years. This relief provides homeowners with stability and the time necessary to regain their footing.

A Chapter 13 bankruptcy lawyer appeals to those who wish to stay in their homes, create realistic repayment schedules, and avoid more drastic alternatives such as Chapter 7 liquidation. The advantage of working with Credit Solutions is clear: advice isn’t limited just to bankruptcy solutions. Their dual services, encompassing both bankruptcy and debt negotiation, mean you receive tailored advice, not just a one-size-fits-all recommendation.

Alternatives to Chapter 13: Full Financial Solutions

Chapter 13 is often the right move for homeowners wishing to protect their property, but for some, alternatives might provide a better outcome. Knowing your options helps ensure your solution truly matches your needs.

Mortgage Modification or Forbearance : Lenders may be willing to adjust the terms of your loan, lowering monthly payments or allowing for missed payments to be tacked onto the end of the loan term.

Debt Negotiation : Settling with creditors outside bankruptcy can be faster and less public, sometimes resulting in reduced balances or better terms.

Chapter 7 Bankruptcy : For homeowners without significant equity or those comfortable walking away from property, this liquidation bankruptcy may help resolve unsecured debts but doesn’t offer home protection like Chapter 13.

Credit Solutions provides unbiased recommendations—never pushing bankruptcy as a sole solution. By evaluating all options, you receive clear guidance tailored to your personal, financial, and property priorities.

The Importance of Unbiased Legal Guidance in Waukesha, WI

Facing debt and the threat of losing your home is emotional and complicated. Seeking support from a chapter 13 bankruptcy lawyer means relying on a professional who can explain legal procedures, possible outcomes, and alternative solutions.

Credit Solutions stands out by offering both bankruptcy and debt negotiation support. This range allows you to make informed choices without pressure. Homeowners can trust that the advice they receive reflects what is best for their circumstances—not just what is possible under bankruptcy law.

Rather than pushing clients towards one fix, Credit Solutions guides you towards sustainable outcomes, respecting your goals and situation. This approach places you, the homeowner, at the center—ensuring all paths are considered.

What to Expect During Your Chapter 13 Payment Plan

The repayment plan is the core of Chapter 13 bankruptcy. You can expect the following:

Structured Monthly Payments: Payments are based on income and expenses, often lower than original creditor demands. Essential living costs are accounted for before calculating payments to creditors.

Protection From Creditors: Creditors cannot demand additional payment or pursue foreclosure after the plan is filed.

Periodic Reports and Review: The court and trustee will monitor your progress. You may need to submit updated financial information periodically.

Discharge of Remaining Unsecured Debt: Once the plan is completed, remaining unsecured debts may be discharged, giving you a clean slate.

Working with a chapter 13 bankruptcy lawyer ensures the plan is realistic and affordable, protecting your interests and helping you stay on track.

Life After Chapter 13 Bankruptcy: Rebuilding Hope and Stability

Completing Chapter 13 bankruptcy offers homeowners the possibility of stability, preserved property, and a refreshed financial start. Waukesha, WI, homeowners who successfully finish their plan often find themselves in a stronger position to manage expenses, save for future goals, and repair credit over time.

A collaborative approach between you and your Chapter 13 bankruptcy lawyer lays important groundwork for the next chapter of your life. With debt under control and property intact, you’ll have more room to focus on building a bright future for yourself and your family.

Take the Step Toward Financial Renewal Today

Facing debt as a homeowner is tough, but you don’t have to do it alone. Credit Solutions, a chapter 13 bankruptcy lawyer serving Waukesha, WI, can help you understand your options, protect what matters most, and guide you toward lasting financial wellness. Their unbiased advice ensures your choices are truly focused on your needs, not just a single solution. Ready to start your journey to stability and peace? Call Credit Solutions today at (414) 272-0077 and take the first confident step toward financial renewal.

Life After Chapter 7 Bankruptcy Law in Waukesha, WI

Wed, 05 Nov 2025 20:54:28 GMT

Starting over after bankruptcy can feel overwhelming. With guidance under Chapter 7 Bankruptcy Law in Waukesha, WI, you can begin to rebuild your financial life with confidence. Call us today at 1-414-272-0077 to learn how we can guide you forward.

Understanding Life After Bankruptcy

Filing under Chapter 7 Bankruptcy Law in Waukesha, WI, is not the end of your financial story. It is a chance to reset. Many people fear that bankruptcy will define them forever, but the truth is different. With the right steps, you can rebuild credit, restore stability, and move toward a stronger financial future.

Bankruptcy clears away debt, but it also opens the door to new habits. The months after discharge are critical. This is when you begin to shape the financial life you want.

The Emotional Impact Of A Fresh Start

Bankruptcy often brings relief, but it can also stir feelings of guilt or shame. These emotions are normal. What matters most is how you respond.

Instead of focusing on the past, think of this as a turning point. Chapter 7 bankruptcy law in Waukesha, WI, exists to give people a second chance. By working with professionals who understand the process, you can use this opportunity to rebuild with clarity and purpose.

Steps to Rebuild Credit After Bankruptcy

Rebuilding credit takes time, but it is possible. Here are practical steps that can help:

Review your credit report for errors and dispute any mistakes.
Create a budget that tracks income and expenses.
Pay all bills on time, even small ones.
Consider a secured credit card to rebuild positive history.
Keep credit use low and avoid unnecessary debt.

Each small step builds momentum. Over time, lenders will see your progress.

Financial Habits That Support Stability

Life after Chapter 7 bankruptcy law in Waukesha, WI, requires new habits. These habits protect you from falling back into debt.

Save a small emergency fund to cover unexpected costs.
Set financial goals, such as paying off a car loan or saving for a home.
Track spending to avoid surprises.
Seek advice before making large financial decisions.

These habits create a foundation for long-term success.

Why Professional Guidance Matters

The journey after bankruptcy is easier with support. A trusted Chapter 7 bankruptcy attorney in Waukesha, WI, can help you understand your rights, avoid mistakes, and plan for the future. At Credit Solutions, we guide clients through both the legal process and the recovery phase.

Our team understands that bankruptcy is not just about debt. It is about rebuilding lives. We provide resources, advice, and encouragement every step of the way.

Common Myths About Bankruptcy

Many people hesitate to file because of myths. Let’s clear up a few:

Myth : Bankruptcy ruins your credit forever. Truth: Credit can be rebuilt within a few years.
Myth : You will lose everything you own. Truth: Many assets are protected under Chapter 7 Bankruptcy Law in Waukesha, WI.
Myth : Bankruptcy means failure. Truth: Bankruptcy is a legal tool designed to help people recover.

Understanding the truth helps you move forward with confidence.

How Bankruptcy Can Be A New Beginning

Bankruptcy is not the end. It is a chance to start fresh. Many successful people have filed for bankruptcy and gone on to build strong financial futures.

By using the relief provided under Chapter 7 Bankruptcy Law in Waukesha, WI, you can focus on what matters most: creating a stable and secure life for yourself and your family.

Building A Support System

Recovery is easier when you are not alone. Surround yourself with people who encourage your progress. This may include:

Family members who support your goals.
Friends who respect your new financial boundaries.
Professionals who provide legal and financial guidance.

Having a support system keeps you motivated and accountable.

The Role Of Education In Financial Recovery

Education is key to long-term success. Learning about money management helps you avoid repeating past mistakes and builds confidence in your financial decisions.

After filing under Chapter 7 Bankruptcy Law in Waukesha, WI, understanding how credit works, how to budget effectively, and how to plan for the future becomes even more important. By gaining knowledge, you can make smarter choices that protect your progress.

We encourage clients to explore resources on budgeting, credit repair, and financial planning. Workshops, online tools, and financial literacy courses can provide valuable insights. By staying informed, you gain the tools to make better decisions and create a stable foundation for the years ahead.

Using Legal Resources to Your Advantage

Bankruptcy law is complex, but it is also designed to protect you. By working with experienced attorneys, you can use these protections to your benefit.

For example, Chapter 7 Bankruptcy Law in Waukesha, WI can stop creditor harassment, prevent wage garnishment, and give you the breathing room you need. You can learn more about the process and how it works.

A Path Toward Financial Freedom

Life after bankruptcy is not about perfection. It is about progress. Each step you take brings you closer to financial freedom.

With patience, discipline, and the right support, you can rebuild your credit, restore your confidence, and create a brighter future.

Final Thoughts on Moving Forward

The road after Chapter 7 Bankruptcy Law in Waukesha, WI, may feel uncertain, but you are not alone. Credit Solutions is here to guide you through every stage of recovery.

Bankruptcy is not the end of your story. It is the beginning of a new chapter.

Call Credit Solutions Today For A Free Consultation

Your future starts now. Take control of your financial life with the right guidance and support. Call 1-414-272-0077 today or set up a no-cost consultation online to begin your path toward stability.

When to Call a Bankruptcy Lawyer: 5 Clear Signs

Fri, 29 Aug 2025 13:15:17 GMT

If you're feeling overwhelmed by mounting debt, missed payments, or constant calls from creditors, you're not alone—and you're not without options. Many individuals reach a point where financial stress begins to affect every part of life, from relationships to health. That’s where this guide comes in. In this article, we’ll explore five clear signs that it may be time to contact a bankruptcy lawyer in West Allis, WI. Whether you’re facing wage garnishment, lawsuits, or the looming threat of foreclosure, knowing when to seek legal help can make all the difference. With experienced professionals like Credit Solutions S.C. right here in West Allis, you can begin to understand your options without fear or judgment.

Is It Time to Consider a Bankruptcy Lawyer? These Signs Say Yes

1. You're Falling Behind on Payments

If due dates keep slipping by and you’re struggling to keep up with credit cards, your mortgage, or even utility bills, it’s more than just a temporary setback—it’s a warning sign. Missed payments can lead to aggressive collections, late fees, and a damaged credit score.

2. You're Facing Wage Garnishment

When creditors start dipping directly into your paycheck, it can feel like there’s no escape. Wage garnishment can throw your entire household budget into chaos. The good news? A bankruptcy lawyer can help stop garnishment fast and guide you through filing for Chapter 7 or Chapter 13—both of which offer paths toward financial relief and protection.

3. You’ve Been Sued by a Creditor

Getting served court papers from a creditor is overwhelming, especially when you’re already under financial strain. Lawsuits often signal that creditors are escalating their efforts, and your financial future could be on the line. A bankruptcy lawyer can not only help you respond properly but also explore bankruptcy as a powerful legal tool to stop the case and address the underlying debt.

4. Credit Card Debt Is Out of Control

If your credit cards are maxed out and your payments are barely covering interest, you’re likely caught in a debt trap. This kind of financial treadmill often leads to stress, sleepless nights, and zero progress. With the help of Credit Solutions S.C., a bankruptcy lawyer in West Allis, WI, you can determine whether a Chapter 7 discharge or a Chapter 13 repayment plan is your best strategy for long-term stability.

5. You’re Facing Foreclosure

A foreclosure notice can feel like the ground is being pulled out from under you. But even if you’re behind on your mortgage, you may still have options. Filing for bankruptcy can halt foreclosure proceedings, giving you a chance to keep your home and restructure payments.

Personalized Bankruptcy Guidance Rooted in Care

At Credit Solutions S.C., we understand that financial hardship can happen to anyone, and it doesn't define your worth. That’s why our approach is rooted in compassion, not judgment. When you reach out to our team, you won’t be met with shame or pressure—you’ll be met with understanding, support, and real solutions.

As a trusted bankruptcy lawyer in West Allis, WI, we take the time to listen to your story, evaluate your specific situation, and walk you through your options.

Take the First Step Toward Financial Freedom

A bankruptcy lawyer in West Allis, WI, can help you understand your rights, explore your options, and take back control of your financial future. At Credit Solutions S.C., our compassionate, judgment-free team is here to guide you every step of the way. Call us today to schedule your confidential consultation and start your path toward lasting financial relief.

Chapter 7 Bankruptcy Law in Waukesha, WI

Fri, 29 Aug 2025 06:24:10 GMT

Financial stress can feel overwhelming, especially when debt continues to grow and income stays the same. If you're facing this reality, understanding your options under chapter 7 bankruptcy law in Waukesha, WI could be the first step toward relief. At Credit Solutions, we guide individuals through this difficult process with honesty, clarity, and personal support.

If you're unsure whether Chapter 7 is right for you, this guide will explain what it means, how it works, and how you can make an informed decision about your financial future.

What Is Chapter 7 Bankruptcy?

Chapter 7 bankruptcy, also known as “liquidation bankruptcy,” is a legal process designed to help individuals eliminate unsecured debts such as:

Credit card balances
Medical bills
Personal loans
Utility bills

Under chapter 7 bankruptcy law in Waukesha, WI, the court appoints a trustee who may sell certain non-exempt assets to repay creditors. However, many filers keep most or all of their belongings due to Wisconsin's favorable exemption laws.

Key Benefits of Filing Chapter 7 in Waukesha, WI

Choosing Chapter 7 can be a life-changing decision.

Some of the major benefits include:

1. Immediate Relief With the Automatic Stay

Once you file, an automatic stay goes into effect.

This legal protection stops creditors from:

Calling or sending collection letters
Initiating lawsuits
Garnishing wages
Repossessing property

2. Complete Discharge of Unsecured Debts

Once your case is approved, most of your unsecured debts are completely wiped out, giving you a fresh financial start.

3. Quick Resolution

A typical Chapter 7 case in Waukesha takes just 3–6 months to complete from the time of filing to discharge.

4. No Repayment Plan

Unlike Chapter 13 bankruptcy, there is no need to make monthly payments toward your debts.

Potential Drawbacks of Chapter 7

While Chapter 7 offers many advantages, it's not ideal for everyone. It’s important to consider the downsides:

Impact on Your Credit

Your credit score may drop initially, and the bankruptcy will remain on your credit report for up to 10 years. However, many clients report improved scores within 12–24 months due to their reduced debt-to-income ratio.

Asset Liquidation Risk

Some non-exempt property, like a second vehicle, vacation home, or collectibles, could be sold by the trustee to pay creditors. Still, most people filing under chapter 7 bankruptcy law in Waukesha, WI retain all essentials, including their primary home and vehicle.

Not All Debts Are Discharged

Certain obligations, such as student loans, child support, alimony, and recent taxes, generally cannot be eliminated under Chapter 7.

Who Qualifies for Chapter 7?

To file for Chapter 7 in Wisconsin, you must pass the Means Test, which compares your household income to the state median for your family size. If your income is below the median, you qualify. If it’s higher, more complex calculations are used.

Additionally, you must complete a credit counseling course before filing and a debtor education course after filing to receive your discharge.

What to Expect During the Process

Here’s a quick overview of the Chapter 7 bankruptcy timeline:

Initial Consultation – Meet with an attorney to assess your situation.
Gather Financial Documents – Pay stubs, bank statements, debts, and assets.
Filing the Petition – Your lawyer files your bankruptcy paperwork with the court.
341 Meeting (Creditor Meeting) – A brief meeting where the trustee may ask questions.
Debt Discharge – Typically granted within 60–90 days after the 341 meeting.

At Credit Solutions, we handle every step so you don’t feel overwhelmed or alone during the process.

Chapter 7 vs. Other Debt Relief Options

You might wonder if Chapter 7 is your best or only option. Depending on your situation, one of these alternatives may suit you better:

Debt consolidation – Combines debts into one manageable payment.
Debt settlement – Negotiates reduced balances with creditors.
Chapter 13 bankruptcy – A repayment plan over 3–5 years, ideal for protecting assets.

We offer honest, professional guidance to help you choose the path that aligns with your goals.

Why Work With Credit Solutions?

At Credit Solutions, we specialize in chapter 7 bankruptcy law in Waukesha, WI, and we're proud to serve the local community with:

Personalized legal advice
Transparent pricing with no hidden fees
Step-by-step guidance through your bankruptcy case
A judgment-free, compassionate approach

Our mission is to empower you with knowledge and options, so you can move forward with confidence.

Ready to Reclaim Control of Your Finances?

If you’re feeling stuck under the weight of debt, you’re not alone, and you don’t have to figure it out on your own. Credit Solutions is here to help you explore your rights under chapter 7 bankruptcy law in Waukesha, WI and determine if this is the right solution for you. Schedule your free consultation today .

Benefits of Chapter 13 Bankruptcy in Waukesha, WI

Wed, 27 Aug 2025 14:31:27 GMT

Financial setbacks can strike unexpectedly—medical bills, job loss, or rising living costs. For Waukesha, WI residents, Chapter 13 bankruptcy offers a strategic path to regain control without giving up your home or assets. Rather than liquidating property, Chapter 13 allows you to restructure debt into manageable payments over three to five years. This option is particularly helpful for homeowners trying to stop foreclosure or small business owners looking to keep operations afloat.

The goal isn’t to escape debt irresponsibly—but to find a fair, sustainable way forward. If you're struggling to meet payments, consulting a qualified Chapter 13 bankruptcy attorney in Waukesha, WI , could be the first step toward reclaiming your financial stability. Get help tailored to your unique needs.

Avoid Foreclosure and Keep Your Home

One of the biggest advantages of Chapter 13 bankruptcy is its ability to stop foreclosure in its tracks. As soon as you file, an automatic stay is placed on your assets—halting any foreclosure proceedings. This gives you the breathing room to work with a Chapter 13 bankruptcy attorney in Waukesha, WI, who can propose a realistic plan to catch up on overdue mortgage payments while maintaining current ones.

This provision can be life-changing for Waukesha homeowners facing the risk of losing their homes. With professional guidance, you’re not only protecting your property but also giving yourself a structured way to handle other unsecured debts like credit cards and medical bills.

Flexible Repayment That Fits Your Budget

Unlike Chapter 7, which requires liquidating non-exempt assets, Chapter 13 bankruptcy is often referred to as a "wage earner’s plan." It allows those with regular income to design a plan that matches their financial capabilities. Working with an experienced Chapter 13 bankruptcy attorney in Waukesha, WI ensures the repayment plan aligns with both your income and legal rights—without sacrificing necessities like housing, transportation, or business tools.

Many Waukesha residents are surprised at how much relief they can find when debt is no longer a chaotic mess but a structured, achievable commitment.

Legal Guidance That Keeps You Protected

Bankruptcy law is complex, and one misstep can result in dismissed filings or asset loss. This is why having a qualified Chapter 13 bankruptcy attorney in Waukesha, WI, is so crucial. At Credit Solutions, our attorneys not only help draft and file your case—they act as your negotiators, legal protectors, and advisors throughout the entire process.

From preventing wage garnishments to ensuring creditor compliance, having the right legal team gives you peace of mind. Especially for small business owners, navigating debt without guidance can lead to costly legal errors and long-term damage.

Why Credit Solutions Is the Right Choice

At Credit Solutions, we specialize in helping Waukesha residents and small business owners regain financial footing without unnecessary sacrifice. Our experienced attorneys are deeply familiar with both federal law and Wisconsin-specific regulations, ensuring your plan works for your life.

Don't wait until foreclosure notices or debt collector calls take over your life. Take the first step toward relief and clarity. Contact Us: 1-414-272-0077

New Process for dealing with Student Loans in Bankruptcy--Finally

Mon, 06 Feb 2023 17:12:52 GMT

This is a subtitle for your new post

The Biden administration has created new measures for facilitating destitute borrowers’ ability to discharge crippling federal student loan debt in bankruptcy, generating cautious optimism that much needed financial relief is now more accessible.

The departments of Justice and Education on Nov. 17 announced a new process for bankrupt individuals to discharge student loan debt, wherein the agencies will be newly positioned to help underwater borrowers obtain relief. The government said the move will cut down on “unnecessarily burdensome and time-consuming investigations.”

The move represents the most substantial shift by the federal government on the discharge issue in decades. It comes as legal challenges have stalled the White House’s plan to forgive an estimated $430 billion in outstanding federal student loan debt.

The new policy offers a “realistic” opportunity for people to discharge their loans in bankruptcy “for the first time,” said Edward Boltz, a consumer bankruptcy attorney at the Law Offices of John T. Orcutt.

With a new process that more clearly outlines discharge considerations and instructs the agencies to play a more constructive role, the change could provide more consistency and ease debtors’ burden of demonstrating to a bankruptcy court that their student loans impose an “undue hardship.”

The change is well short of consumer advocates’ greater hope of addressing the nation’s $1.6 trillion federal student loan debt crisis by canceling debt and removing strict discharge standards in the bankruptcy code. But it fulfills efforts initiated during the Trump administration to tackle a particularly confounding issue that made undue hardship standards nearly insurmountable.

Some skepticism remains over how the new policy will be carried out by federal agencies that have traditionally fought student loan bankruptcy discharges. Still, lawyers familiar with the process are excited by the prospect of debtors seeing more meaningful relief.

“It has the potential for being a real game changer in this area,” said John Rao, an attorney with the National Consumer Law Center. https://news.bloomberglaw.com/bankruptcy-law/biden-bankruptcy-shift-eases-path-for-student-loan-discharges.

Call or click today for more information. Credit Solutions, S.C. is fully up to date on the new application process and is here to help.

BANKRUPTCY MEANS TEST: WHAT IS IT?

Thu, 02 Aug 2018 18:36:43 GMT

The Bankruptcy Means Test has been used for 10+ years now, but it can still be a source of confusion. Learning what the practical application of this test is, and how it applies to your case is the first step.

The Bankruptcy Means Test helps determine if you have the ability to pay off some or all of the debts that are owed to creditors. The means test is usually a necessary requirement if you want to file for bankruptcy.

Those who file Chapter 7 Bankruptcy may be required to take the Means Test. However, there may be instances where you will not need to take the test at all.

Most individuals who file under chapter 7 of the bankruptcy code will pass the means test, but it is possible to fail.

f you are filing Chapter 7 bankruptcy, what happens if you fail the means test? Will it stop you from getting any form of debt relief or bankruptcy protection? Does it mean you have to file under Chapter 13 Bankruptcy instead?

Legal cases are complex and the actual outcome of your case will depend on individual facts and circumstances, as well as the expertise of your bankruptcy lawyer.

The Bankruptcy Means Test was and continues to be a big source of confusion, but the bankruptcy lawyers at Credit Solutions help explain and simplify the process so that everyone can understand it. We’ll work with you before the test and after to make sure your road to debt relief remains roadblock-free.

Click for a Free Consultation or chat us a question; we’ll get back to you shortly!

WISCONSIN WINTER UTILITY SHUT OFF

Thu, 22 Dec 2016 00:00:00 GMT

How can Chapter 7 and Chapter 13 bankruptcy help in stopping a shut off?

Bankruptcy can offer immediate relief if you're facing a utilities shut off, whether it's during winter or any other time of the year. In order to prevent a shut off and file for bankruptcy, you may need to file an emergency petition, which allows you to start the process and halt the utility shut off proceedings. However, it is crucial to complete the remaining forms within 14 days to ensure the viability of your bankruptcy case. Failure to do so could result in the dismissal of your case by the bankruptcy court.

Moreover, filing for Chapter 13 bankruptcy can also be instrumental in stopping a shut off. Once you have filed for bankruptcy, utility companies are legally prohibited from attempting to collect any outstanding bills, be it through mailed statements, phone calls, or even lawsuits. It is important to note, though, that filing for bankruptcy only protects you from previous debts, and you are still responsible for paying new utility bills after the bankruptcy filing.

Contrary to bankruptcy, a Chapter 128 non-bankruptcy does not provide the same relief in preventing a shut off.

Chapter 7 bankruptcy offers immediate relief for individuals facing a utility shut off, whether it's during the winter or any other time of the year. In such cases, filing an emergency petition can help prevent the utility shut off process. This petition allows you to initiate the bankruptcy process and halt the utility shut off, with the option to complete the remaining forms within 14 days. However, it's crucial to file the remaining forms within this timeframe to avoid the risk of the bankruptcy court dismissing your case.

Once you have successfully filed for bankruptcy, the utility companies are prohibited from attempting to collect any past due bills through mailed statements, phone calls, or lawsuits. This protection provides individuals with a much-needed respite from the burden of overdue utility bills. It's important to note that filing for bankruptcy only shields you from previous debts, and you will still be responsible for paying new utility bills that arise after the filing.

Alternatively, a Chapter 13 bankruptcy presents a broader range of benefits for the right situation in addition to stopping utility shut-offs. It allows individuals to catch up on missed mortgage or car payments through a repayment plan, effectively preventing foreclosure or repossession. This chapter also provides the opportunity to safeguard valuable assets that may be at risk in a Chapter 7 bankruptcy. Moreover, the structured nature of the Chapter 13 repayment plan instills financial discipline by requiring regular monthly payments over an extended period. This promotes responsible financial management and cultivates good financial habits for future stability.

What are the requirements for utilities during the winter heating moratorium?

In Wisconsin, a winter utility shut off is banned between November 1st and March 31st. Utilities banned from disconnection include water, electricity, sewer, gas, and phone. Electricity and natural gas, in particular, cannot be turned off between November 1st and April 15th. This means that customers who are behind on their bills during this moratorium period are protected from having their heat-providing service disconnected.

However, it is important to note that while utilities are prohibited from disconnecting customers during the winter heating moratorium, consumers who have already been disconnected must still make arrangements to pay their outstanding bills in order to have their service restored. Wisconsin law requires utilities to make an effort to contact these disconnected consumers and attempt to get them reconnected. However, it is essential to understand that utilities are not obligated to reconnect service until payment arrangements have been made.

Outside of the designated winter months span, utility shut-offs can still be prevented if the temperature falls below 32 degrees Fahrenheit or is predicted to do so. In such cases, utility companies are not allowed to disconnect your service for 24 hours or until the temperature rises above 32 degrees Fahrenheit.

To summarize, during the winter heating moratorium period, utilities in Wisconsin are prohibited from disconnecting customers who are behind on their bills, specifically including electricity and natural gas. However, customers who have already been disconnected must make payment arrangements to restore their service. Furthermore, outside of the moratorium period, utility shut-offs can be prevented if the temperature falls below 32 degrees Fahrenheit.

However, if you have significant debt (such as medical bills or credit card bills ), as well as overdue utility bills you may want to consider filing for Chapter 7 bankruptcy.

When does the moratorium for disconnecting customers begin and end?

In Wisconsin, a winter utility shut off is banned between November 1st and March 31st. This means that customers who are behind on their bills during this period cannot be disconnected by the utilities. It is important for consumers who have been disconnected to contact their local utility before the start of the winter heating moratorium, which begins on November 1st and ends on April 15th. By doing so, they can make necessary arrangements to have their service reconnected. During this moratorium, customers can have peace of mind knowing that they will not face disconnection even if they are behind on their bills. It is crucial for consumers to take advantage of this protection and communicate with their utility to ensure uninterrupted service during the winter months.

To prevent a utility company such as We Energies from disconnecting your power due to overdue utility bills, you have the option of filing for Chapter 7 or Chapter 13 bankruptcy. By doing so, you will be granted a bankruptcy stay that prohibits the utility company from carrying out a shut off for gas and electric services. Filing for bankruptcy can offer immediate relief if you’re facing a utilities shut off (in winter or any other time of the year). If you file bankruptcy in part to prevent utility shut off, you may need to file an emergency petition.

What is a bankruptcy stay and how does it prohibit utility shutoff?

A bankruptcy stay is a legal safeguard that prevents certain actions, such as utility shutoff, when an individual files for Chapter 7 or Chapter 13 bankruptcy IMMEDIATELY . Specifically, if you are behind on your utility bills and facing the possibility of having your gas and electric services disconnected, filing for bankruptcy triggers a bankruptcy stay. This stay prohibits the utility company (such as WE Energies) from proceeding with the shut-off. If you are already turned off, they are required to turn you back on.

Once you receive your bankruptcy discharge, any outstanding or overdue amounts on your gas and electric bills at the time of filing for bankruptcy will be eliminated or "wiped out." This means that you will no longer be responsible for those past due amounts, providing you with a fresh start financially.

You will need to make sure that unpaid utility bills are listed within your bankruptcy debts. Then, the bankruptcy court will inform the utility company of your bankruptcy filing to help ensure that your services are not shut off .

Once you have filed bankruptcy, the utility companies cannot try to collect any past due bills – either by mailed statements, phone calls or filing lawsuits. However, you will have to pay new utility bills after filing for bankruptcy, as filing for bankruptcy only protects you from previous debts.

Typically. if your bankruptcy case moves forward without issue, your overdue utility bills can be paid by the bankruptcy trustee or be discharged by the bankruptcy court.

If you choose not to file for bankruptcy there are a few other protective plans in place.

Aside from the utility shut-off ban designated during the specified winter months, utility shut-offs can still be prevented if the temperature falls below 32 degrees F or is predicted to. If this happens outside of the designated winter months span, utility companies cannot disconnect your service for 24 hours or until the temperature is warmer than 32 degrees F.

However, if your utilities have been turned off prior to Nov 1st and no payment arrangement has been made , Wisconsin utility companies are not required to restore service that was already turned off for nonpayment. If this happens, you may qualify for the Wisconsin Winter Protection Plan.

This plan protects senior citizens and low-income customers from having their utilities from being shut off. It also protects these eligible customers from high utility bill payments during winter.

If you qualify for Wisconsin’s Winter Protection Plan you must pay at least 7% of your estimated annual bill each month and 1/12 of any past due bills.

When the protection plan ends on March 31st you must pay the full monthly amount moving forward, plus a portion of the amount you built up during the winter months.

If you feel like you’re drowning in debt and are worried about keeping your utilities on and paying past due and future bills, Credit Solutions can help.

Our bankruptcy lawyers specialize in Chapter 7, Chapter 13 and Chapter 128 (a bankruptcy alternative for Wisconsin residents) .

Every day, we help people find the best solution for their debt problems – whether that’s filing for bankruptcy or a different solution.

We are an experienced bankruptcy law firm with extremely talented and compassionate lawyers who know how to navigate all of the ins and outs of bankruptcy.

Set-up your FREE debt consultation now to find out what solutions are available for you.

BANKRUPTCY AND DIVORCE

Tue, 06 Dec 2016 00:00:00 GMT

Since bankruptcy and divorce often go hand-in-hand, there are a lot of questions surrounding the issue.

The most common question we get are people asking, “ Should I file for bankruptcy before or after divorce? ”

It’s a valid question and the answer is not always black-and-white, but there are some things you should consider when deciding if you should file for divorce first or bankruptcy.

Making the right decision for your situation is based on a number of factors, including what state you live in, how much property you own, how much debt you have, and what chapter of bankruptcy you want to file.

Below, the Credit Solutions’ bankruptcy lawyers have provided some important information to help you with your decision.

Filing for bankruptcy before divorce helps get rid of the debts that you and your spouse share, such as credit card debt or medical bills. It can also increase how much debt can be wiped out (exempt) from what you owe.

Filing for bankruptcy before divorce can also get you and your spouse out of contracts that you don’t want, like car loans or mortgages that are underwater.

Filing for bankruptcy before divorce can also be worthwhile if your spouse makes more or all of the money, since this can improve your chance of qualifying for Chapter 7 bankruptcy.

The reason why it can be better to qualify for Chapter 7 when dealing with bankruptcy and divorce is that the bankruptcy process is much quicker – usually about 90 days, so you can move forward with divorce faster without being delayed by the bankruptcy process. Chapter 7 bankruptcy also allows you to get rid of unsecured debts.

On the other hand, Chapter 13 bankruptcy takes 3-5 years and you are not able to get rid of unsecured debts. Plus, if you and your spouse file for Chapter 13, you are both responsible for the repayment plan.

If you choose to (or have to) file for Chapter 13 bankruptcy, it may be better to get divorced before filing for bankruptcy, since the Chapter 13 process takes much longer.

If your income is too high to qualify for Chapter 7, it might be better for you to get divorced before filing for bankruptcy, so you’re not tied into a 3-5 year repayment plan with your spouse under Chapter 13 agreements.

In some cases, if you get divorced before you file for bankruptcy, you and your spouse could each qualify individually for Chapter 7, where you could only qualify for Chapter 13 as a married couple.

Filing for bankruptcy during a divorce is not recommended. This causes the process of dividing assets come to a screeching halt. Now, your divorce attorney has to understand bankruptcy law to protect you and your property.

Since bankruptcy affects how income, debt and property are handled in a divorce, it’s almost always better to take care of one before starting the other.

In most cases, it’s best to file bankruptcy before divorce.

Plus, since bankruptcy filing fees are the same whether you file together or separate, you can actually save money by filing jointly. You can also save money on bankruptcy lawyer costs by filing jointly too.

For many people divorce is the biggest reason for filing bankruptcy.

If you’re thinking about filing for bankruptcy and divorce, it’s in your best interest to talk to a bankruptcy lawyer first since filing for bankruptcy before divorce may simplify the process and save you money in the long-run.

Every day, Credit Solutions helps people file for bankruptcy in Illinois and Wisconsin. Our bankruptcy law firm prides itself on helping people find solutions for better living.

Credit Solutions specializes in Chapter 7 & Chapter 13 bankruptcy. We also specialize in Wisconsin’s bankruptcy alternative, Chapter 128 .

Contact Credit Solutions now to set-up your free consultation.

MEDICAL DEBT RELIEF & BANKRUPTCY

Mon, 24 Oct 2016 00:00:00 GMT

Unfortunately, most people file for bankruptcy because of overwhelming medical debt. They’re either unable to pay off their medical bills, or they put a large chunk of their medical debt on a credit card, which has become impossible to pay off.

If you need medical debt relief and bankruptcy looks like the only option, review the information below.

When it comes to medical debt collection, medical bills and maxed out credit cards are defined as unsecured debt. This means that if you can’t pay your medical bills (default), creditors cannot take anything of yours without obtaining a money judgement against you in court.

If you need to file for bankruptcy because of medical debt, there are 2 chapters you may qualify for- Chapter 7 or Chapter 13.

When you file for Chapter 7 bankruptcy , not all debts are wiped out, but unsecured debts are completely wiped out (discharged).

Under Chapter 7, you must turn over all nonexempt property to your trustee, who has to sell it in and use the proceeds to pay your unsecured creditors.

Not everyone is eligible for Chapter 7 Bankruptcy. If your income and the amount of debt owed are at a level that you are able to pay back your medical bills through a Chapter 13 Bankruptcy payment plan, then you will need to file for that.

Many who file for Chapter 13 Bankruptcy only pay a portion of their unsecured medical debt. If you make all bankruptcy plan payments, as well as stay current on your taxes, child support and alimony payments, then your medical bills are wiped out (discharged) at the end of the 3-5 year repayment period.

The bankruptcy payment plan means you pay a certain percentage of your unsecured debt. This amount is determined after factoring in your disposable income and seeing how much your unsecured creditors would have received if you filed for Chapter 7 Bankruptcy.

Take the Bankruptcy Means Test to see if you qualify for Chapter 7 or Chapter 13 Bankruptcy.

If you need medical debt relief, Credit Solutions is here to help. Our bankruptcy lawyers are considered experts in the legal world for their exceptional ability to navigate all the ins-and-outs of medical debt collection laws in Wisconsin and Illinois.

We will help you determine if you need to file for bankruptcy, or if there are other debt relief options available. If you do need to file for bankruptcy as part of your medical debt relief plan, then we’ll be right there to take care of you every step of the way.

Contact Credit Solutions Law today to schedule your FREE bankruptcy consultation or chat us a question; we’ll respond shortly!

DEBT RELIEF – NEGOTIATING WHAT YOU OWE

Sat, 06 Aug 2016 00:00:00 GMT

Many people who need debt relief don’t know they can negotiate over the amount they owe.

While almost anyone who’s in debt can haggle with a creditor to lower the balance they owe, it’s more beneficial to have a bankruptcy lawyer do it because it yields a better debt negotiation outcome & takes the stress off you.

Having Credit Solutions handle your debt negotiation can take hundreds to thousands of dollars off what you owe.

Creditors and collection agencies are in the business of collecting debts as quickly as possible. Many creditors will make an offer and settle for a reduced balance if the debt is paid in full immediately, as opposed to making minimal payments that span several months or years.

If you’re on the verge of filing Chapter 7 bankruptcy , creditors will often settle for less in order to receive some payment as opposed to receiving nothing.

Before a reduced offer is made, the creditor will want a financial statement from you to assess your financial situation with information about how much you make a month, how much you spend on monthly necessities like food and fuel, and how much of your income is being applied towards other debt.

Individuals who are over $10,000 in debt, who’ve held the debt for over a year, or who are on the verge of bankruptcy are most likely to get a reduced balance.

Since eligibility is not rigidly defined, our bankruptcy lawyers can facilitate your unique financial situation in order to make you eligible for debt negotiation.

Credit Solutions’ bankruptcy lawyers have an in-depth knowledge of the financial details creditors assess. We help you draft a financial statement that’s beneficial to negotiating a better payment plan or a reduced balanced.

People who consult Credit Solutions about debt negotiation often reduce their debt by a large percentage. In fact, the average debtor receives a 50-70% reduction on the balance owed!

Setup a FREE consultation now to see if you qualify for debt negotiation – just send us your contact info & we’ll get back to you shortly!

CREDIT SCORE FACTORS

Fri, 20 May 2016 00:00:00 GMT

When it comes to major financial commitments, like applying for a home loan, there are various credit score factors that are taken into account.

There are 5 credit score categories that can make or break financial opportunities.

1. Payment History: Payment history is one of the biggest credit score factors out there. There are a lot of items factored into assessing your payment history, including:

*Missing a payment
*Number of missed payments
*Time since missed payments
*Severity of missed payments

Missing 1 payment in ten years is a nothing to worry about as it is a minuscule deduction from your credit score ranking. However, recent missed payments will be weighed heavier.

2. Total Debt: The 2nd largest credit score factor is your total amount of debt. Total debt includes all credit card balances, auto loans, mortgages, and other forms of debt.

3. Length of Credit: The longer you have open credit, the easier it is to determine behavior.

4. Types of Credit: There are 2 types of credit: installment (auto loans and mortgages) and revolving (credit cards). Your credit score is determined by the amount and variety of these credit types.

5. Credit Applications: Every time you apply for a line of credit, your credit history is pulled. Since credit applications are viewed as needing money, the time since your credit history was pulled last is a deciding factor is determining your credit score.

Applying for store credit cards to get the additional 15% off sounds like a good idea at the time, but in reality it could be hurting your credit score. It is smart to avoid having lenders pull your credit score unless you are seriously in need of a loan.

With a better understanding of credit score factors, you’ll be able to work on building or maintaining good credit.

Credit Solutions’ bankruptcy lawyers help thousands of families and individuals get out of debt. We help you find the best way to handle debt and, if needed, we’ll help you file for bankruptcy relief. Our bankruptcy lawyers guide you through the debt relief process from beginning to end, so your finances are manageable again.

Set up a FREE consultation now to find the best debt relief plan for you .

CREDIT CARD DEBT CONSEQUENCES

Thu, 06 Aug 2015 00:00:00 GMT

As the country experiences challenging economic times, many people find themselves burdened with substantial credit card debt. If you're unable to continue making credit card payments or choose not to file for bankruptcy, you'll have to face the consequences of credit card debt. So, what exactly happens if you can't pay off your credit card debt?

After a few months of non-payment, your debt will be transferred to a collection agency. These agencies will start their collection efforts by calling and mailing notices to your home, aiming to collect payment. It's important to note that collection agencies have the right to contact your family and even your place of employment in order to reach out to you for debt collection purposes.

Under the Fair Debt Collection Practices Act, you have a grace period of 30 days before a collection agency can report the delinquent account on your credit report. This can have long-lasting effects on your creditworthiness, potentially hindering your ability to obtain credit in the future until the debt is settled.

Furthermore, if the debt remains unpaid even after a civil court judgment is filed against you, the creditor or collection agency can take further action. They may place liens on your wages and assets, garnishing your wages and seizing your assets to cover the debt. In some cases, they may even garnish your bank account, legally withdrawing funds to satisfy the outstanding balance.

So what happens if you can’t pay your credit card debt?

Missing a credit card payment can have significant consequences. After a few months of non-payment, your debt may be placed with a collection agency. These agencies will make relentless attempts to collect payment by contacting you through phone calls and mail notices. They may even reach out to your family and place of employment in their pursuit of debt collection.

It is important to note that the Fair Debt Collection Practices Act grants you a 30-day grace period before the collection agency can report the delinquent account on your credit report. This reporting can hinder your ability to obtain future credit until the debt is paid off. Additionally, if the debt remains unpaid, a creditor or collection agency can take legal action and obtain a civil court ordered judgment against you. This judgment signifies your responsibility to repay the debt and can have serious repercussions.

One such consequence is the placement of liens on your wages and assets. If the debt remains unpaid even after the judgment, the creditor can garnish your wages, withdraw funds from your bank account, and place liens on your assets. These measures are legally permitted and aim to ensure the repayment of the outstanding debt.

While the consequences of credit card debt can be overwhelming and stressful, it is important to understand that failing to pay credit card debt, no matter how outstanding, is not considered a crime in the United States. However, the financial and legal implications can be severe and should not be taken lightly.

It is crucial to stay proactive and address credit card debt as soon as possible to avoid worsening consequences. Communication with creditors or collection agencies, seeking professional advice, and exploring debt repayment options can help alleviate the burden and pave the way towards financial recovery.

Filing bankruptcy or initiating a debt consolidation plan will stop collection agents from harassing you. Working with one of our bankruptcy lawyers means the collection agency is forced to deal with us, not you.

Our bankruptcy law firm coordinates a debt consolidation or repayment plan that’s mutually beneficial to you and your creditors.

We’ll also prevent creditors from taking you to civil court.

Credit Solutions stops creditor harassment, and protects your future credit and assets.

Setup a FREE consultation with to discuss your credit card debt situation; Just tell us how to contact you and we’ll get in touch shortly.

CHAPTER 13 BANKRUPTCY CAR REPOSSESSION

Tue, 13 Jan 2015 00:00:00 GMT

How does Chapter 13 bankruptcy give you the best opportunity to get your car back?

According to the 7th Circuit Court of Appeals decision, if a vehicle is repossessed prior to the filing of Chapter 13 Bankruptcy, the creditor must return the vehicle to the debtor once the case has been filed and a request for the vehicle's return has been made. This is advantageous for debtors as it allows them to regain possession of their car, which is crucial for maintaining employment and making timely Chapter 13 payments. By having their vehicle returned, debtors can ensure they can commute to and from work, thereby securing their job stability.

However, the benefits of Chapter 13 bankruptcy extend beyond vehicle repossession. Not only does it facilitate the return of the car, but it also provides an opportunity to address any outstanding debts associated with the vehicle loan. Through a court-approved repayment plan, debtors can bring their car loan payments current, ultimately regaining control over their financial situation.

Moreover, if the repossession has already taken place, filing for Chapter 13 bankruptcy prompts the loan company to return the vehicle to the debtor. This approach offers a practical solution for debtors, granting them a clear path to regain possession of their vehicle while simultaneously addressing their financial obligations.

Once the vehicle is returned, debtors are granted a timeframe of three to five years to repay their car loan through the Chapter 13 repayment plan. This extended period allows debtors to manage their finances effectively and make consistent payments towards their vehicle loan, ensuring the opportunity to fully satisfy the debt within a reasonable timeframe.

Chapter 13 bankruptcy not only ensures the return of the repossed vehicle but also provides a comprehensive solutions for debtors to address outstanding debts. By offering a court-approved prepayment plan and an extended repayment period, this approach empowers debtors to regain control over their financial situation and retain their means of transportation, thereby securing their employment and enabling the to fulfill their Chapter 14 obligations.

Is Chapter 7 bankruptcy a good choice for reclaiming our car?

When considering whether Chapter 7 bankruptcy is a suitable option for reclaiming your car from the lender, it is important to note that this particular bankruptcy chapter does not typically enable you to bring your missed payments up to date. As a result, Chapter 7 bankruptcy may not be the most ideal choice if your primary goal is to reclaim your vehicle. However, it's worth mentioning that there are alternative avenues that may allow you to negotiate with the lender for the return of your car. Furthermore, the bankruptcy court might potentially intervene and facilitate the return of the vehicle. Nevertheless, it's essential to be aware that whichever route you pursue, it is likely that you will need to promptly cover all repossession expenses and bring your payments up to date, a task that may be challenging for many individuals. These additional expenses are not needed in a Chapter 13 bankruptcy, making Chapter 13 the right tool to get your car back!

If you’re considering filing for bankruptcy and recently had your car repossessed, don’t waste any more time or money; get immediate help from the bankruptcy lawyers at Credit Solutions .

We’ll help you get your car back as fast as possible and give you sound financial advice, so you can get on the road to debt relief. Our bankruptcy lawyers will advise you on whether you should file for bankruptcy or if there are other options available.

Get a FREE consultation now! Just provide some quick contact information, and we’ll get back to you to set-up a time that works best for you.

HOW TO STAY DEBT FREE AFTER FILING BANKRUPTCY

Tue, 06 Jan 2015 00:00:00 GMT

Being in debt is extremely stressful. For some, making sure you stay debt-free after filing bankruptcy can be equally as stressful.

Following some basic guidelines can help you stay debt-free.

Review your bills and keep track of your records
Understand your spending by looking at how much you spend & what you are spend it on.
Create and follow a budget after determining your necessary spending.
Eliminate the easy stuff first.
- If you are buying cups of coffee or eating out every day for lunch, start brewing coffee and preparing lunch at home. This alone saves up to $100 or more per month just on simple food costs.
Start saving money each month by starting and maintaining a savings account.
- Set aside a certain amount every month to be deposited into a savings account for years down the road, keeping you debt free after filing for Wisconsin bankruptcy.
- With small deposits each month coupled with compound interest from a savings account, you can save a lot with just a little.
- To make it easier to save, a forced savings plan may be ideal. With a forced savings plan, a set amount of money each month is deducted from your checking account and deposited into your savings.
If you own a home, make additional mortgage payments each year
- Paying 1 additional mortgage payment each year can shave years of interest off of what you would spend.
- You might also consider refinancing to lower your monthly payments to save money now and in the long run.
Pay monthly bills on time and in full (when possible) to avoid late fees and higher interest.

If you’re over your head in credit card debt , turn to the bankruptcy lawyers at Credit Solutions. We’ll help you with setting up a debt consolidation or repayment plan. If you will still need to file bankruptcy, we’ll determine whether it’s in your best interest to file for Chapter 7 , Chapter 13 or Chapter 128 (a bankruptcy alternative for Wisconsin residents).

Setup a FREE consultation with one of our bankruptcy lawyers – just send us some contact info and we’ll get back to you as soon as possible.

OBAMA HOME LOANS

Wed, 13 Jan 2010 00:00:00 GMT

Commonly referred to as simply “Obama Home Loans”, the Obama Home Loan Modification Program offers financial incentives to mortgage companies to modify your mortgage. This program is backed by Freddie Mac or Fannie Mae.

Your loan can be modified to 31% of your gross monthly income to reduce your housing debt payments (defined as first mortgage, real estate taxes, homeowners insurance and association/condo fees).

This can be done by lowering your interest rate to as low as 2% and extending the life of your mortgage to 40 years. Mortgage companies owning your second mortgage can voluntarily opt to reduce or eliminate your second mortgage.

This program applies to fixed and adjustable interest rate loans.

You are required to enter into a “trial period” of 3 to 4 months and provide proof of your income to the mortgage company. During this “trial period” you make the lower payment as it is initially determined by your mortgage company. The payment is based on the information you provide to the mortgage company. They will report to your credit bureaus that you’re paying on a partial payment agreement.

The Obama Home Loan may be right for you if:

You’re having a hard time paying your mortgage because your interest rate went up
Your income has fallen
Your expenses now make it a hardship to afford your current house payment
You want to save your house no matter what

You can do this program if you are current on your mortgage, or if you are already in foreclosure. You can also partake in this program if you are in bankruptcy or considering filing for bankruptcy.

One benefit of the Obama Home Loan is that you get to repay your loan with more affordable payments.

Another benefit is that you can get thousands of dollars taken off the balance of your mortgage if you stay current on payments.

It is still unknown how the program will effect your current credit score, or your ability to get a mortgage in the future.

Despite mortgage companies (and Freddie Mac and Fannie Mae) stating that this should not negatively impact your credit, IT WILL LOWER YOUR CREDIT SCORE for at least the “trial period” until your loan is modified and you’re paying under the modified mortgage (at which time you would stop making partial payments, and start making full payments under the modified loan).

Will you credit score go back up? It should, but the program is too new yet to fully know.

If you already have a modified mortgage loan, but are still struggling with debt and do not want to file for bankruptcy, Credit Solutions may be able to help. If you’re a Wisconsin resident, our bankruptcy lawyers can help you pay off your debt under Chapter 128 .

With offices in Milwaukee and Chicago, Credit Solutions has helped thousands of people get the debt relief they need. We help guide you to the right answer, whether that’s with Obama Home Loans, filing for bankruptcy or identifying a different solution.

Set up your free consultation now – just send us your contact info & we’ll get right back to you.

NEW CREDIT CARD LAW – BE CAREFUL WHAT YOU ASK FOR!

Sat, 13 Jun 2009 00:00:00 GMT

On May 22, 2009, President Obama signed a new reform to the credit card law.

The new law prohibits credit card companies from bumping up rates for no reason and ends late fee traps.

It also means credit card companies can’t increase your rates for one single day late payment.

Plus, credit card companies will be required to reduce your interest rate back to the old rate once you have paid on your card for a period of time.

So what’s the problem?

While the new law sounds great for people who are forced to live on credit card debt between paychecks, there are some drawbacks.

The biggest drawback is the vanishing grace period. You won’t be able to charge something and simply pay it off when you get the monthly statement to avoid interest rates. Credit card companies will charge you interest from the date of purchase to the end of the billing cycle.

Another drawback is that you might not be approved for that high interest rate card, or any card for that matter. Your credit card company may even drop you.

Plus, in order to offset the loss of revenue, credit card companies will be forced to raise interest rates for ALL card users (even people who pay their bills on time and have good credit).

Annual fees will most likely become the norm again to help defray the loss of profit for the credit card companies.

Variable interest rates replace low fix rates to keep up with the cost of credit card companies borrowing money.

No-interest balance transfers will become a thing of the past.

Credit card reward programs will be reduced or eliminated.

Get more information on the credit card law from Whitehouse.gov .

After all is said and done, if you are still struggling to make ends meet under the weight of debt, speak with one of our highly skilled & compassionate bankruptcy lawyers. We can help you find debt relief through Chapter 7 , Chapter 13 or Chapter 128 (Wisconsin only bankruptcy alternative ).

Get your FREE consultation now – just tell us how to get a hold of you and we’ll be in touch shortly.