A person who is overwhelmed with debt and behind on payments typically feels exhausted and defeated. As deadlines loom for repossession of a vehicle, or, even worse, a sheriff’s sale of a home, a bankruptcy lawyer in Milwaukee, WI can help. Filing for chapter 13 bankruptcy creates an automatic stay, meaning creditors must immediately cease and desist collections activities. They cannot repossess a car or truck, and a sheriff’s sale must be postponed indefinitely.
Many people wait until it’s almost too late to file for bankruptcy because they want very much to solve these situations on their own. Often, they are battling Wall Street banks deemed “too big to fail” by the government, leaving them with little consumer power against these entities. Federal law allows people to make a new start financially and to stop these enormous lending institutions from taking away what little they have left.
Chapter 13 is known as a wage-earner’s filing, although people do not actually need to be earning W2 wages to qualify. They do need verification of regular income, which might be business, contractor or self-employment income. If repossession or foreclosure deadlines are very near, a lawyer in Milwaukee, WI can complete an emergency chapter 13 filing that only requires the most basic paperwork. Afterward, the attorney will see the client complies with the rest of the paperwork on time and fulfill other requirements as well. For example, this type of consumer protection mandates credit counseling by an approved agency. This normally takes place before the filing, but the lawyer will petition the court for a delay.
No matter what the situation, a person should never be afraid to call a firm such as Horizons Law Group for a consultation. Attorneys who handle bankruptcy cases are known to be compassionate professionals who understand the serious hardships people must deal with. Many times, an attorney begins representing clients in this realm because of their own experiences with serious financial difficulty. These lawyers want to see people get back on their feet and start over again without the burdensome load of debt that creditors are demanding be paid immediately.