Benefits and what to expect:
What are the most common questions asked during a consultation? And what are your answers to those questions?
How does filing for bankruptcy affect my credit score?
It depends. Most people assume that filing a bankruptcy petition will automatically lower their score. However, most people considering filing for bankruptcy already have below average credit scores. In some cases, filing for bankruptcy can result in a short term improvement in your score by eliminating debts that are weighing your score down. Further, filing for bankruptcy can provide relief from creditors, and free up income that can be used in the future to start rebuilding your credit.
I have been sued by a creditor. What is going to happen to me? Will I get in trouble?
Usually, when a lawsuit is filed you are given the opportunity to respond to the complaint. Your option to respond is important if you wish to dispute allegations against you or raise defenses or counter claims. However, you are required to participate in the lawsuit only to the extent ordered by a Court. Usually, that means after the creditor gets judgment, you have to comply with providing financial information so the creditor can determine what collection actions are available against you. Further, small claims cases and civil cases typically involve disputes about whether you owe money. Thus, these cases usually do not involve any risk of criminal liability unless you disobey orders of the Court.
How much does it cost to file?
It depends. During the free consultation, information will be provided about how much each option costs including attorney fees, costs, and any other expenses that you need to know about and plan for.
Will I lose my house?
Being informed is one of the main advantages of having an attorney. This includes being able to understand and plan for protecting the assets you care about. Many people want to make sure that if they file for bankruptcy, their home will be protected and they will be allowed to keep it. Under Wisconsin law, homeowners have strong protections from creditors. An important part of the process of preparing a bankruptcy case for my clients includes reviewing information about each asset you own, including your home, and making sure you have all the information about any risks you take by filing a bankruptcy case.