When you are considering bankruptcy there are a few things you need to know. First of all you will need to figure out the type of bankruptcy you plan on filing. There are several different chapters when it comes to bankruptcy. If you want to file one of the most common types of bankruptcy which is the chapter 13, then you will need to find a Chapter 13 Bankruptcy Lawyer In Milwaukee WI area. There are several in the area so you will need to take the time to find the best one for you.
Chapter 13 is the type of bankruptcy where you are consolidating all your debt into one debt. You will create a portfolio and figure out all the debt that you are filing. Then you will need to come up with a payment amount that you can present to the judge. It is important to have the portfolio created before you go to court because this is what the judge is looking for. When you hire a Chapter 13 Bankruptcy Lawyer Milwaukee WI, they will be able to discuss this with you further in detail, and be able to help you get everything organized before the day of court.
Chapter 13 is one of the most common types of bankruptcy filed besides chapter 7. It is similar to chapter 7 in a way, but also different because you will actually be paying on the debt that you owe instead of wiping them out. While you are making payments the creditors will not be allowed to call and harass you.
It is always important to consider all your aspects before filing bankruptcy. You will have bankruptcy on your file for at least 10 years. When you go to apply for a house loan, or even an auto loan they will want to know if you have ever filed bankruptcy. Although it may not hurt you, it will still be there on your record. When you talk to the lawyers in your area you will be able to figure out what will be best for your situation. All you need to do is find the lawyer that is right for you.