FAQ

Chapter 7 is a liquidation bankruptcy that discharges most unsecured debts within months, while Chapter 13 allows wage earners to keep assets and repay debts through a 3-5 year plan. At Vomastic Law Office, we help Shawano residents determine which chapter fits their income, assets, and financial goals.

Chapter 13 repayment plans typically last between 3 and 5 years, depending on your income level and the amount of debt being reorganized. This structured plan allows you to keep your assets while catching up on missed payments and managing unsecured debts.

You may be able to keep your house in Chapter 7 if you're current on mortgage payments and your home equity falls within Wisconsin's exemption limits. Asset protection depends on equity, exemptions, and whether you can continue making payments after discharge.

Chapter 12 is designed specifically for family farmers and fishermen with regular annual income from farming or fishing operations. This chapter offers more flexible repayment terms and debt limits tailored to the seasonal income patterns common in agriculture and commercial fishing.

Chapter 7 typically discharges unsecured debts like credit cards, medical bills, and personal loans. However, it does not eliminate child support, most student loans, recent taxes, or secured debts unless you surrender the collateral.

Yes, a consultation is essential to evaluate your financial situation and determine if bankruptcy is the right solution and which chapter to file. At Vomastic Law Office, we offer free consultations to assess your debts, income, assets, and explore all available debt relief options.

Chapter 13 allows you to reorganize debts and create a repayment plan without liquidating assets, so you can keep your home, car, and other property. This wage earner bankruptcy is ideal for those with steady income who want to avoid losing valuable possessions.

Many people wait too long to seek legal advice, allowing debt to spiral and missing opportunities for effective relief options. Acting early gives you more choices and better outcomes. At Vomastic Law Office, we recommend scheduling a consultation as soon as financial hardship begins.

Yes, filing bankruptcy triggers an automatic stay that immediately stops most wage garnishments, creditor calls, and collection actions. This legal protection gives you breathing room to reorganize your finances and work toward a fresh start under court supervision.

Asset protection planning uses legal strategies such as proper entity structuring, exemptions, and trusts to shield personal and business assets from creditors and future claims. Proactive planning is essential, as protections must be in place before financial trouble arises.