If you live in Madison and are seeking are seeking bankruptcy advice, finding a trusted and experienced attorney is essential. The main focus of a bankruptcy attorney is to help you decide what is the best route for your financial distress.
If you are facing financial problems, filing for bankruptcy may not be your only option. However, since this is a very important issue you will want to get in contact with a knowledgeable lawyer to help you determine your options.
It should be noted that finding an attorney that specializes in bankruptcy cases will likely yield the best results. There are no shortage of lawyers in Madison, WI but picking one who does not have much experience with bankruptcy filings is not the ideal route. It’s highly advisable to seek advice from someone who is qualified to handle your case.
Before choosing your bankruptcy attorney you will want to do some research. Find out how many cases they have worked on, what the results of those cases are, and possibly even speak to past clients if that is possible.
You will also want to check to make sure the bankruptcy lawyer you choose is licensed to practice law in Wisconsin and that they are in good standing and do not have any past issues on their record. You can do a search at the State Bar of Wisconsin.
When it comes to cost, this is not the time to look for a bargain. As they say, you get what you pay for. Obviously, you already financial issues or you would not be in risk of going bankrupt, but hiring a good attorney is key to starting to turn your financial situation around.
You will also want to get specifics on fees. Find out what is included and what is not and learn about any additional fees you may incur. Request a very specific and detailed quote so you have a clear understanding of what it is going to cost you.
When it comes time to move forward you will need to determine if you are going to file Chapter 7 or Chapter 13 bankruptcy.
Chapter 7 bankruptcy, is the most common path and is designed for those with unsecured debts like credit cards or medical bills.
Chapter 13 allows you to keep ownership of your assets, but a repayment plan must be established and agreed upon to repay your debts (or a portion of them) over time.
In the State of Wisconsin there are some types items that are exempt from bankruptcy filings like Federal disability insurance, life insurance proceeds, alimony, some types of pensions, and property of business partnerships.
If you are facing financial issues the first step is to get in contact with a qualified bankruptcy attorney in Madison, WI. Choose your lawyer carefully and make sure to go your research before deciding on one.