Chapter 7 is a liquidation form of bankruptcy that eliminates most unsecured debts within a few months, whereas Chapter 13 enables wage earners to retain their assets and repay debts over a 3-5 year period. Vomastic Law Office assists Shawano residents in deciding which chapter best aligns with their income, assets, and financial objectives.

A Chapter 13 repayment plan generally runs between 3 and 5 years, based on your income and the total debt being reorganized. This organized plan enables you to retain your assets while bringing missed payments current and addressing unsecured debts.

You may retain your house in Chapter 7 if your mortgage payments are current and your home equity is within Wisconsin's exemption thresholds. Keeping your property depends on the equity amount, applicable exemptions, and your ability to maintain payments following discharge.

Chapter 12 is created exclusively for family farmers and fishermen who have regular annual income from their farming or fishing activities. This chapter provides more adaptable repayment terms and debt thresholds suited to the seasonal income fluctuations typical in agriculture and commercial fishing.

Chapter 7 generally discharges unsecured debts such as credit card balances, medical expenses, and personal loans. However, it does not eliminate child support obligations, most student loan debt, recent tax liabilities, or secured debts unless the collateral is surrendered.

Yes, a consultation is critical to review your financial circumstances and determine whether bankruptcy is appropriate and which chapter you should file. Vomastic Law Office provides free consultations to evaluate your debts, income, assets, and review all potential debt relief solutions.

Chapter 13 enables you to restructure debts and establish a repayment plan without selling assets, allowing you to retain your home, vehicle, and other property. This form of wage earner bankruptcy is well-suited for individuals with consistent income who wish to avoid losing valuable possessions.

Many individuals delay seeking legal counsel too long, which allows debt to worsen and eliminates opportunities for effective relief strategies. Taking action early provides more options and improves outcomes. Vomastic Law Office advises scheduling a consultation as soon as financial difficulty begins.

Yes, filing bankruptcy activates an automatic stay that immediately halts most wage garnishments, creditor calls, and collection activities. This legal safeguard provides relief to reorganize your finances and pursue a fresh start under court oversight.

Asset protection planning employs legal techniques including appropriate entity formation, exemptions, and trusts to safeguard personal and business assets from creditors and potential future claims. Planning ahead is critical, as protections need to be established before financial difficulties occur.