Green Bay Bankruptcy Attorney

Sapinski Law Office, S.C., Offers Free Consultations

Many people think that bankruptcy is only for people who have failed financially. In fact, bankruptcy is for anyone with unmanageable debts, regardless of their situation in life. Furthermore, filing for bankruptcy isn’t an admission of failure but a strategic move toward a brighter financial future.

Sapinski Law Office, S.C., offers a wide range of legal services focused on debt relief, including:

• Chapter 7
• Chapter 13
• Discharging debt
• Mortgage modifications
• Foreclosure
• Debt Negotiation
• Section 128

If you want to learn more about filing for bankruptcy, dial (888) 298-1041 now to speak with me, an experienced Green Bay bankruptcy attorney.

What Is Bankruptcy?

Bankruptcy is a legal procedure that allows individuals or businesses unable to pay their debts to seek relief from some or all of their obligations. It’s a tool designed to offer a fresh start by eliminating or restructuring debts to be more manageable. The process can provide creditors an opportunity to obtain some measure of repayment based on the debtor’s ability to pay.

There are several types of bankruptcy, each referred to as a “chapter,” designed for different situations. The two most commonly available to individuals are:

• Chapter 7: Also known as “liquidation” bankruptcy, this allows for the discharge of most debts. Many file under this chapter to eliminate unsecured debts they cannot pay, such as credit card debts or medical bills. Some of your property may be sold to repay creditors.
• Chapter 13: This type of bankruptcy involves a repayment plan where you pay back all or a portion of your debts over three to five years. It’s often used by individuals with regular income who want to keep their property.

It’s essential to consult with a bankruptcy attorney to understand which type of bankruptcy is best suited to your situation. The right choice can offer a pathway towards financial stability and peace of mind.

Exploring Alternatives to Bankruptcy

While bankruptcy provides a viable path to financial recovery for many, it is not the only option available. Alternatives to bankruptcy, such as debt negotiation and Section 128, can also provide effective debt relief and may better align with your personal financial objectives.

Debt Negotiation: This involves negotiating with your creditors to reduce the balance owed and settle the account in full. It’s an advantageous strategy for individuals who want to avoid bankruptcy and have sufficient funds available to pay lump sum settlements right away.

Section 128: In Wisconsin, Section 128 of the Wisconsin Statutes allows Wisconsin wage earners to consolidate many types of unsecured debts and repay them over three years without interest and without bankruptcy. It’s a viable option for those with a manageable amount of debt that could be repaid within this timeframe.

It is imperative to understand that every financial situation is unique. Therefore, you may have debt relief options that you are unaware of. Consulting with an experienced attorney can provide valuable insight into the most beneficial path for your circumstances.

Move Forward to a Brighter Future

Over the years, I have successfully guided numerous clients across Green Bay through bankruptcy. Leveraging my extensive knowledge and experience, I am here to help you navigate through the bankruptcy process, including helping you identify whether a bankruptcy filing is in your best interests. Your financial freedom is my priority, and I am committed to helping you achieve it.

Have questions about bankruptcy? Please schedule an appointment with me, Attorney Andrew Sapinski, a skilled Green Bay bankruptcy and debt relief attorney. Call my firm at (888) 298-1041 or reach out to me online.