Money problems can impact every aspect of life. When there is not enough coming in to pay the bills, it is hard to sleep at night. Even little things, like buying enough food to get through the week, can become insurmountable tasks. Before deciding that there is no way out, it pays to see a Bankruptcy Lawyer in Milwaukee WI.
Taking a Fresh Look at the Finances
Before the Bankruptcy Lawyer in Milwaukee WI, will make any type of suggestions, a thorough assessment of the financial condition of the client is in order. Income levels, total debts, and even any assets that the client owns will come under consideration. The goal is to determine if the client would best be served by seeking bankruptcy protection, or if some other means of debt management would provide the desired relief.
Qualifying the Debtor for Bankruptcy Protection
Not everyone can qualify for bankruptcy protection. If there is evidence that the client could eventually settle the debts in a reasonable amount of time, the chances of being approved by the court are slim. Even if bankruptcy is the best solution, the client may not qualify for a dismissal of all the debt. Fortunately, it is possible to file a form of bankruptcy that establishes a repayment plan managed by the court. The latter approach will ensure that creditors stop calling and the debtor has enough income left over to pay for food, clothing, and shelter.
Taking the Plunge
The lawyer will not take any steps to file documents with the court until the client understands what to expect and has committed to meeting the requirements of the court. At that juncture, the paperwork is prepared and presented to the court for consideration. Assuming everything is in order, the court will follow established procedures to communicate with the creditors. In the interim, the debtor will provide full disclosure to the court and work to comply with all requirements.
While no one likes the idea of having to file for bankruptcy protection, seeking the counsel of a Bankruptcy Lawyer will clear up a lot of the questions. For anyone who is feeling the weight of what seems to be crushing debt, call a lawyer today. Doing so will be the first step in getting the finances back on track.
