Chapter 7 Bankruptcy Attorney in Milwaukee

Helping individuals in the Milwaukee area file for chapter 7 

Filing for chapter 7 can be a very effective option. Find out if it's right for you during a free consultation.

Attorney’s Note: The information below should not be construed as a substitute for legal advice. Please contact Milwaukee area bankruptcy attorney Steven R. McDonald for your free initial case assessment.

If you're deeply in debt, consider filing for Chapter 7 Bankruptcy. Filing Chapter 7 bankruptcy can be a relatively pain-free process with the right attorney to fight on your behalf.

The Law Office of Steven R McDonald works with you to help you keep more of your assets & discharge your debt to stop the threats and harassment of creditors.

Schedule a free consultation today to learn more :

Contact us today to...

  1. Get expert advice and a guiding hand
  2. Heal your financial wounds
  3. Restore a sound financial future
Milwaukee Chapter 7 bankruptcy lawyer consultation

What is Chapter 7 Bankruptcy?

Chapter 7 bankruptcy is a liquidation of debts. It's the most common type of individual bankruptcy filed in Wisconsin. Filing for Chapter 7 can discharge (eliminate) certain debts and remove your obligation to repay them.

Chapter 7 bankruptcy is a fairly fast process and lasts about 110 days on average. It's a very effective option for people with lower incomes to get creditors off their back and begin the rebuilding process. Back to top

Qualifying for Chapter 7 Bankruptcy

To determine if you qualify for Chapter 7 bankruptcy, a "means test" must be completed. This test will determine if you qualify for Chapter 7 while also identifying debt relief solutions and opportunities.

Oak Creek Bankruptcy Lawyer helps you file for Chapter 7.

The Means Test takes into account the last six months of your financial history. Take that income value and multiply it by two. If your income is lower than the median income for Wisconsin households, you are qualified for Chapter 7 bankruptcy. If your income is higher than the median, you may be required to file for Chapter 13 Bankruptcy.

See below for a breakdown of Wisconsin household median incomes*:

  • 1 Person Household: $63,146
  • 2 Person Household: $81,854
  • 3 Person Household: $99,261
  • 4 Person Household: $118,441
  • 5 Person Household: $128,341

*(Data from the United States Department of Justice)

There are a number of strategies that may help you qualify for a Chapter 7 Bankruptcy instead of a Chapter 13. As an experienced Wisconsin bankruptcy attorney in Milwaukee, Steven R. McDonald will guide you to your most informed and financially beneficial decision. Back to top

What You Need to Know Before Filing for Bankruptcy in Milwaukee

Before considering filing on your own, learn how filing for bankruptcy works in Milwaukee and throughout Wisconsin. There's a few things you absolutely MUST understand before declaring bankruptcy:

  1. What debts you may discharge
  2. The difference between Chapter 7 and Chapter 13
  3. Requirements to qualify for Chapter 7
  4. Filing fees
  5. How filing hurts your credit report
  6. Why you should NEVER file without a lawyer
  7. Information about exemptions
  8. How often you can file

Chapter 7 Bankruptcy Forms 

You can find official chapter 7 bankruptcy forms at the United States Courts website, along with instructions. If you fail to file or properly complete even one of these forms it may result in dismissal of your case.

One of the biggest benefits of hiring an experienced bankruptcy attorney is the invaluable guidance and advice during the chapter 7 filing process. Filing for bankruptcy without a lawyer is your right, but it also carries certain risk. Back to top

Documents to File Chapter 7

Balance Sheet of Oak Creek Family Filing for Chapter 7 BankruptcyIf it's determined you likely qualify for Chapter 7, start by gathering your financial documents.

These financial documents include:

  • Income sources (pay stubs for the sixty day period prior to the date of filing your Bankruptcy Petition or business income documentation for business owners for the same period)
  • Major transactions within the last 24 months
  • Monthly living costs
  • Property (all assets and possessions)
  • Tax returns from the past two years
  • Real estate documents (recorded mortgages and deeds and property tax assessments)
  • Car titles
  • Loan documents
  • A list of your debts (a stack of your monthly bills)

You may choose to take on the itemization task on your own, but opting for an experienced Milwaukee Chapter 7 bankruptcy attorney carries a number of advantages – namely speed and security.

Once your financial documents have been gathered, you will need to take 2 online financial management classes. There will be a Section 341 hearing (Meeting of Creditors) held within reasonable distance from your residence. Your bankruptcy attorney will attend with you. Back to top

Chapter 7 Bankruptcy Court in Eastern District of Wisconsin

An automatic stay is immediately imposed once your paperwork is filed with the Bankruptcy Court of the Eastern District of Wisconsin. The automatic stay prevents creditors from taking further action against you. Your creditors will not be able to call you, write to you, sue you, garnish you, repossess your car or foreclose against your property. This is one of the biggest benefits that bankruptcy provides to you.   

Chapter 7 Bankruptcy Rules and Requirements

Our Milwaukee Chapter 7 bankruptcy attorney knows the exceptions and workarounds for Chapter 7 bankruptcy rules and requirements. Chapter 7 can completely eliminate unsecured debts that have no attachment to property (secured debts). The debts most commonly discharged in bankruptcy are listed below. 

Stylized Sign Post Pointing Out Causes of Chapter 7 Bankruptcy FilingsChapter 7 can assist you with:

Debts Not Dischargeable for Chapter 7 Bankruptcy:

  • Some Income Taxes
  • Child Support and Alimony
  • Student Loans (not applicable in every case)
  • Criminal Fines
  • Municipal Fines
  • Intentional Torts
  • Parking Tickets
  • Toll Way Fines

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Filing Fee for Chapter 7 Bankruptcy

The courts fee to file Chapter 7 Bankruptcy is currently $335.00. This fee does not change based on household size. If you are unable to pay the full cost of a Chapter 7 Bankruptcy, filling fee payment plans can be arranged.

Dollar bills piled up from payday loan debt

Chapter 7 Bankruptcy & Payday Debt Loans

Digging your way out of payday loan debt can be a difficult, stressful process. Interest rates can become extraordinarily high and completely unmanageable. A payday loan for $200.00 can become a $1,000.00 repayment if payments aren't timely.

Luckily, Chapter 7 bankruptcy can get rid of your payday loans. Filing for bankruptcy helps you escape the exponential ininterest payments of quick-cash payday loans.

Obviously, the best way to avoid payday loan debt and filing for bankruptcy is by staying far away from payday loans in the first place. But you can't go back in time. If you are in desperate need, Steven R. McDonald can guide you through the process of Chapter 7 bankruptcy to restabilize your finances. Back to top

Milwaukee Chapter 7 Bankruptcy Attorney Fighting for Your Recovery

Man Finding Money in Pocket after Filing Chapter 7 Bankruptcy in WisconsinBankruptcy laws and filing processes are highly complex and intensive, requiring the insight and guidance of an experienced bankruptcy attorney. When you’re facing bankruptcy, trying to go through it alone is incredibly stressful and overwhelming – not to mention financially perilous!

After aiding countless good people through the bankruptcy process, our Milwaukee Chapter 7 bankruptcy attorney understands the huge amounts of stress and despair you’re struggling with. Our goal is to provide the information you need. We will assist you every step of the way, including:

  • Being a shoulder to lean on
  • Serving as your legal counsel
  • Help you achieve the best possible solution

When things hangs in the balance, turn to the Chapter 7 bankruptcy attorney who has practiced in the Eastern District of Wisconsin for more than 15 years. Rely on Steven R. McDonald's expert advice and guidance through the bankruptcy filing process.

McDonald Law provides Chapter 7 bankruptcy lawyer services to clients in Oak Creek, Franklin, Greendale, Cudahy, New Berlin, Hales Corners, Racine, Muskego, Milwaukee, South Milwaukee, and more.
Book your FREE legal advice consultation on filing for Chapter 7 bankruptcy in Wisconsin.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

Wisconsin bankruptcy lawyer serving: Oak CreekMilwaukeeCudahyFranklin • St. Francis • Union Grove • New Berlin • Racine • Greenfield • Greendale • Hales Corners • Caledonia • Muskego • Hales Corners
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