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Wisconsin Chapter 7 Bankruptcy FAQs

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First published at 14:24 UTC on March 14th, 2024.

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Chapter 7 bankruptcy in Wisconsin is a liquidation process where non-exempt property may be sold to pay creditors, and certain debts are discharged, but corporations or partnerships cannot receive discharges.
To qualify for Chapter 7 bankruptcy in Wisconsin, individuals must pass the means test, potentially allowing those with an income under $84,952 to file, and they must complete specific forms and a credit counseling class before filing.While filing for Chapter 7 bankruptcy without a lawyer is legal, professional legal guidance is recommended to navigate federal proceedings, protect assets with exemptions, and ensure accurate filing to avoid additional costs or investigations. Read the full article here: https://www.oflaherty-law.com/learn-about-law/wisconsin-chapter-7-bankruptcy-faq

O’Flaherty Law now serves over 105 counties across Illinois, Iowa, Wisconsin, and Indiana. If you have any questions regarding a case or would like to speak to one of our attorneys after watching a #LearnAboutLaw video, give us a call at (630) 324-6666 or visit https://www.oflaherty-law.com/schedule-a-consultation-at-oflaherty-law to get in contact with someone from our team.

Subscribe to our channel for daily videos dedicated to all things law, and leave a comment with any questions about this topic.

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#learnaboutlaw #legalblog #wisconsin #bankruptcy

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