1. What is Chapter 7 bankruptcy?

• Chapter 7 bankruptcy is a legal process that allows individuals in Milwaukee to eliminate most of their unsecured debts, such as credit card debt and medical bills, by liquidating non-exempt assets.

2. How do I qualify for Chapter 7 bankruptcy in Milwaukee?

• To qualify for Chapter 7 bankruptcy in Milwaukee, you must pass the means test, which compares your income to the median income for a household of your size in Wisconsin.

3. What debts can be discharged in Chapter 7 bankruptcy?

• Chapter 7 bankruptcy can discharge most unsecured debts, including credit card debt, medical bills, and personal loans. However, some debts, such as student loans, alimony, and child support, may not be dischargeable.

4. Will I lose my home or car if I file for Chapter 7 bankruptcy?

• In Milwaukee, Wisconsin, certain assets, like your home and car, may be protected by state exemptions. I’ll help you understand which assets you can keep when filing for Chapter 7 bankruptcy.

5. How long does the Chapter 7 bankruptcy process take?

• The Chapter 7 bankruptcy process typically takes about 3 to 4 months from the filing date to the discharge of debts. I’ll guide you through each step to ensure a smooth process.

6. What is the difference between Chapter 7 and Chapter 13 bankruptcy?

• Chapter 7 bankruptcy involves liquidating non-exempt assets to pay off debts, while Chapter 13 allows for a repayment plan over 3 to 5 years. I can help you determine which option is best for your situation in Milwaukee.

7. How will filing for Chapter 7 bankruptcy affect my credit score?

• Filing for Chapter 7 bankruptcy will impact your credit score, but it also gives you the opportunity to rebuild your credit over time. I’ll provide guidance on how to improve your credit post-bankruptcy.

8. Can I file for Chapter 7 bankruptcy more than once?

• Yes, you can file for Chapter 7 bankruptcy more than once, but there are time limits between filings. I can help you understand your eligibility based on your previous filings.

9. What happens to my co-signers if I file for Chapter 7 bankruptcy?

• If you have co-signers on your debts, they may still be responsible for the debt even after you file for Chapter 7 bankruptcy. I’ll explain how to handle co-signed debts during your bankruptcy case.

10. How much does it cost to file for Chapter 7 bankruptcy in Milwaukee?

• The cost to file for Chapter 7 bankruptcy includes court fees and attorney fees. At Berning Law LLC, I offer a transparent fee structure and payment plans to make the process affordable for you.