Experienced Bankruptcy Lawyers Serving Clients Across Central Wisconsin
Serious financial challenges can happen to anyone, whether they’re brought about due to job loss, medical bills, divorce or a wide range of other issues that are difficult to avoid. While bankruptcy should never be the first method for working your way out of debt, it can provide much-needed relief when you feel as if you have no other options.
At the Stevens Point law firm of Lummis & Barkley, LLC, our skilled bankruptcy lawyers have experience assisting individuals facing a broad range of debt-related challenges. We know all of the bankruptcy options inside and out, and we offer you personal attention and reliable advice as you make important financial decisions. We want you to know that there is hope—and we’ll find the best solutions for you. Sometimes the best option is not filing a bankruptcy. We can assist you with non-bankruptcy options as well.
The bankruptcy process often begins with a means test.
What is the means test?
When you believe you need to file for bankruptcy protection, one of the first steps is to go through a “means test.” Through this process, we will help you examine your income, assets and property, and determine if you have the resources to pay off the debt you owe. This means test is a key indicator of whether you will need to file for Chapter 7 bankruptcy.
Helping you navigate Chapter 7 bankruptcy
In a Chapter 7 bankruptcy, you will be assigned a trustee, who will scrutinize your case.
The bankruptcy trustee, assigned by the court, will attempt to make sure your creditors receive as much money owed to them as possible, using any of your property deemed nonexempt. It’s important to note that there are some types of debt that cannot be eliminated through Chapter 7, including child support, tax obligations and student loans.
One important aspect of this form of bankruptcy is the automatic stay, which temporarily prohibits your creditors from pursuing the debt owed to them. During this time, creditors may not garnish your wages, make collections calls or seize any property you own.
Contact a skilled Stevens Point bankruptcy attorney
The main reason to hire a skilled bankruptcy attorney is to help you navigate the complex bankruptcy process and ensure that you keep your property while discharging your debts. To receive the sound legal guidance you need when facing bankruptcy issues, consult a dedicated attorney with Lummis & Barkley, LLC. We have offices located in Stevens Point and Marshfield, and we proudly serve clients in Plover, Whiting, Amherst and the rest of central Wisconsin. To get started, please call 715-341-3170 or contact us online.